NEW YORK, April 12, 2023 /PRNewswire/ — The travel vaccines market size is forecast to increase by USD 2.44 billion from 2021 to 2026, at a CAGR of 8.59%, according to the recent market study by Technavio. The growth of the market will be driven by the increase in global migration, the rise in awareness about vaccine-preventable diseases among travelers, and mandates by countries on vaccinations before issuing visas. Charts & data tables about market size for forecast period (2022-2026) have been covered in this report. Download the sample report
Vendor analysis: Vendor offerings –
Technavio has extensively analyzed 15 major vendors, including Abbott Laboratories, Altimmune Inc., AstraZeneca Plc, Bharat Biotech Ltd., CSL Ltd., Dynavax Technologies Corp., Emergent BioSolutions Inc., GlaxoSmithKline Plc, KM Biologics Co. Ltd., LG Chem Ltd., Merck and Co. Inc., Mitsubishi Chemical Holdings Corp., Pfizer Inc., Sanofi, Serum Institute of India Pvt. Ltd., Shenzhen Kangtai Biological Products Co. Ltd., Sinovac Biotech Ltd., SK Chemicals Co. Ltd., Takeda Pharmaceutical Co. Ltd., and Valneva SE. The key offerings of some of these vendors are listed below:
Key benefits for industry players & stakeholders –
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Market Segmentation:
The market is segmented by disease type (influenza, diphtheria, hepatitis, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)).
Based on disease type, the influenza segment will account for a significant share of the market growth during the forecast period. The increasing demand for influenza vaccines by end-user facilities, along with the rise in traveling rates, will drive the growth of the segment. Multiple vendors operating in the global travel vaccines market, such as GlaxoSmithKline Plc, Sanofi SA (Sanofi), and CSL Ltd. (CSL), offer influenza vaccines. These factors will contribute significantly to the growth of the influenza segment.
Based on geography, North America will account for 42% of the market’s growth during the forecast period. The US is the key country for the travel vaccines market in the region. Moreover, market growth in North America will be faster than the growth of the market in the Rest of World (ROW). Factors such as increasing access to vaccines against diseases and a growing number of initiatives to generate awareness about immunization programs will drive the travel vaccines market growth in North America during the forecast period.
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Market dynamics:
Key drivers:
An increase in travel and migration has led to the spread of pathogens and disease-causing vectors globally. The growing contact with different animals and plants also leads to the movement of pathogens. For instance, the H5N1 avian flu virus was first discovered in poultry in China and later spread to humans. Travel activities are expected to increase in the coming years. Therefore, manufacturers of vaccines have significant opportunities to invest in the R&D of new and effective vaccines, which will drive market growth.
Major trends:
Travel vaccine compliance depends on the demographic profile of travelers. For instance, people below the age of 30 are generally not considered in many disease-prevention programs, as most of these programs are for the elderly and children. The chances of travelers being vaccinated also depend on the travel destinations. For instance, the chances of vaccination are higher if the destination is a sub-tropical or tropical country. The expected growth in migration, coupled with the demand for vaccination for immunization against infectious diseases among all age groups, is likely to support the growth of the global travel vaccines market during the forecast period.
Key challenges:
Many health insurance plans do not cover the cost of vaccination before traveling, as these vaccinations are considered optional. In the US, the cost of getting vaccinated at a travel clinic includes an initial consultation fee of USD 100. Administering the shot costs USD 50 to USD 1,000 or above, depending on the disease and the vaccine. As these costs are not covered by health insurance, many travelers do not opt to get vaccinated. These factors may hamper the market growth during the forecast period.
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Travel Vaccines Market Scope
Accelerate at a CAGR of 8.59%
North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution
US, Germany, UK, Japan, and China
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
Abbott Laboratories, Altimmune Inc., AstraZeneca Plc, Bharat Biotech Ltd., CSL Ltd., Dynavax Technologies Corp., Emergent BioSolutions Inc., GlaxoSmithKline Plc, KM Biologics Co. Ltd., LG Chem Ltd., Merck and Co. Inc., Mitsubishi Chemical Holdings Corp., Pfizer Inc., Sanofi, Serum Institute of India Pvt. Ltd., Shenzhen Kangtai Biological Products Co. Ltd., Sinovac Biotech Ltd., SK Chemicals Co. Ltd., Takeda Pharmaceutical Co. Ltd., and Valneva SE
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Disease Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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