The Travel Vaccines Market is estimated to reach USD 3,878.94 Million in 2022. As per the report, sales are forecast to increase at a robust 9.8% CAGR, with the market valuation reaching USD 6,914.22 Million by 2032.
| Attribute | Details |
|---|---|
| Travel Vaccines Market Estimated Size (2022) | USD 3,878.94 Million |
| Travel Vaccines Market Projected Size (2032) | USD 6,914.22 Million |
| Travel Vaccines Market Value-based CAGR (2022 to 2032) | 9.8% |
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Vaccines are made up of deceased microbes, living attenuated organisms, or living fully pathogenic organisms that are tested with the purpose of artificially enhancing or generating immunity to a certain disease.
The first step towards safe and healthy travel is to get a travel vaccine. Travel vaccine shots, in addition to a passport, are now required before embarking on overseas travel. Travel vaccines give immunisation by lowering the likelihood of becoming ill while travelling overseas.
The growth in the number of travellers and the frequency with which they travel have had medical, epidemiological, and medico-legal effects in addition to economic, cultural, and social ramifications. While travel can be entertaining and thrilling, as well as beneficial to one's mental and physical well-being, it can also be destructive to one's health.
Every year, almost 900 million foreign journeys are made. This kind of global travel exposes many people to a variety of health hazards. The growth in worldwide travel has resulted in more frequent illnesses while travelling as well as cases of the disease being imported back to the nation of origin.
This has increased the awareness among several nations and their travellers too. More travellers are getting vaccinated before their trips which proves to be beneficial for the Travel Vaccines Market.
There are several government bodies in different countries, making it mandatory for travelers to be vaccinated before their travel. These countries aim to prevent the entry of diseases from other parts of the world to ensure the safety and well-being of their residents.
They provide complete information about the vaccines associated with the diseases and the destinations as well.
These organizations also provide free vaccines for some diseases which are aided by government programs and schemes. This has resulted in increased use of vaccinations by travelers, hence growth in the travel vaccines market.
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There has been a rapid increase in travel and tourism since the regulations of the pandemic have eased up. People are getting out to explore new places and experiences. Every sector of tourism is getting back to normal and is set to break previous travel records.
This has given rise to more people getting vaccinated before their travel as most countries have made vaccinations compulsory for their visitors as well as their residents. As a result, there is an increased demand for vaccines which is expected to boost the Travel Vaccines Market.
Since the pandemic, people all over the world are getting more and more concerned about their health. They are finding new ways to stay immune to diseases and ensure safety during their travel. Government bodies and pharmaceutical companies are taking combined efforts to make different travel vaccines available to travelers.
The players are also engaged in research and development to provide vaccines with lesser side effects and minimum dosages. This has helped the travel vaccines market to grow to a large extent. Travelers are getting inclined toward the use of vaccines which will aid the growth of the market.
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Indonesia found a new vaccine for dengue
Takeda's dengue fever vaccine received its long-awaited initial approval after more than a decade of development. After years of testing in Asia and Latin America, authorities in Indonesia approved the vaccination for people aged 6 to 45.
A few processes must be accomplished before the company can distribute the shot. Takeda's contract manufacturer in Germany has a ready-to-ship inventory. Takeda anticipates receiving further clearances in the near future.
The corporation is pursuing simultaneous approvals in numerous endemic nations as part of an ambitious regulatory approach. At the same time, European Medicines Agency authorities are reviewing the shot.
Europe invented a novel vaccine to treat multiple diseases
Marketing Authorization was granted by the European Commission (EC) for HEPLISAV B, a vaccine created for the immunization of the infection caused by hepatitis B virus and other varieties of hepatitis B virus in people of age 18 and more, according to Dyanavax, a biopharmaceutical company focused on developing and commercializing novel vaccines.
The mandate was granted following the positive judgment of the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) on the company's Marketing Authorization Application. The mandate and CHMP recommendation were decided on the good benefit-risk profile of HEPLISAV B, as proven by the findings of three clinical trials of three phases on safety and immunogenicity.
India and China are leading producers of Covid-19 Vaccines
In China and India, two COVID-19 vaccinations given orally or through the nasal cavity have been provided with a green light for use. China's new vaccine is inhaled as an aerosolized mist through the nose and mouth, whereas India's is administered as nasal drops.
These mucosal vaccinations are designed to attack the thin membranes that are inside the nose, mouth, and lungs. Mucosal vaccines, by inducing immune responses where the virus enters the body’s system, could prevent even mild episodes of sickness and prevent transmission to others. Some covid doses were proven to be incompetent. Vaccines that produce sterilizing immunity could change the course of the epidemic.
People are afraid of getting infected by corona
Covid-19 vaccines are the most opted vaccines as the disease gave rise to a pandemic and people are more concerned about getting infected by this virus. While countries throughout the world are taking extra efforts to make their territory corona free by making the vaccination mandatory to cross borders.
Online Booking is More Preferred by Tourists
Most travelers prefer booking their vaccination slots in person as visiting the place gives a more clear idea about the vaccines needed as per the travel destination. Travelers are able to choose the vaccinations according to their needs and preferences.
Children and Old people are more susceptible to diseases
Generally, children and senior citizens are more susceptible to getting ill during travel due to the changing climatic and environmental conditions. Hence, the age group 0-14 Years, 56-65 Years, and 66-75 Years are more likely to get vaccinated before their travel.
Several large pharmaceutical companies are conducting research and development for travel vaccines. Travel vaccinations for region-specific diseases are being developed by companies. As the world moves toward free trade and globalization, the number of international tourists is expected to grow year after year.
The companies are trying to innovate the vaccines, either by combinations of different vaccines or by reducing the dosages. This will aid in minimizing the side effects caused by the vaccinations and provide immunity against a variety of diseases.
For Instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania & MEA |
| Key Countries Covered | United States of America, Canada, Brazil, Mexico, Argentina, Colombia Germany, UK, France, Italy, Russia, South Africa, Turkey, UAE, Egypt, Jordan China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Philippines, Cambodia, Vietnam Australia & New Zealand. |
| Key Segments Covered | Disease Type, Booking channel, tourist type, tour type, and Region. |
| Key Companies Profiled |
GlaxoSmithKline plc; Merck & Co.; Sanofi; Novartis AG; Pfizer Inc.; Dynavax Technologies; Emergent BioSolutions Inc.; Abbott; Bharat Biotech; Serum Institute of India; Takeda; Chiron; BioNTech; Astra Zeneka; GSK Vaccines; Moderna |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The current Travel Vaccines market has reached valuation of USD 3,878.94 Million in 2022.
The Travel Vaccines market is currently forecasted to grow at a rate of 9.8% CAGR during the forecast period.
Leading players in Travel Vaccines market are GlaxoSmithKline plc, Merck & Co., Inc., Sanofi, Novartis AG, Pfizer Inc., Dynavax Technologies, Emergent BioSolutions Inc., Abbott, Bharat Biotech among others.
1. Executive Summary 2. Market Introduction 3. Global Tourism Industry Analysis 4. Market Dynamics 5. Market Background 6. Categorizing of Sector 2021 7. Categorizing of North America Sector 2021 8. Categorizing of Latin America Sector 2021 9. Categorizing of Europe Sector 2021 10. Categorizing of East Asia Sector 2021 11. Categorizing of South Asia Sector 2021 12. Categorizing of Oceania Sector 2021 13. Categorizing of Middle East and Africa Sector 2021 14. Competition Analysis 14.1. GlaxoSmithKline plc 14.2. Merck & Co. 14.3. Sanofi 14.4. Novartis AG 14.5. Pfizer Inc. 14.6. Dynavax Technologies 14.7. Emergent BioSolutions Inc. 14.8. Abbott 14.9. Bharat Biotech 14.10. Serum Institute of India 14.11. Takeda 14.12. Chiron 14.13. BioNTech 14.14. Astra Zeneca 14.15. GSK Vaccines 14.16. Moderna 15. Assumptions and Acronyms Used 16. Research Methodology
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Travel Vaccines Market
