Travel Vaccines Market Size - By Composition (Mono & Combination Vaccines), Disease Type (Hepatitis A & B, Influenza, DPT, Yellow Fever, Meningococcal, Typhoid, Rabies, Measles & Mumps), Application, Global Forecast, 2023-2032

Travel Vaccines Market Size

Travel Vaccines Market size was valued to be USD 3.8 billion in 2022 and is predicted to experience a sustainable growth of CAGR 9.7% till 2032 due to the increasing travel and tourism that is leading to an increased awareness about vaccine-preventable diseases among travellers. Furthermore, the initiatives being taken by government and other organizations to enhance travel safety are also supporting the progression of industry.
 

Travel vaccines refers to specialized vaccines that are recommended for individuals willing to travel to destinations where specific infectious diseases pose a heightened risk. These vaccines provide protection against diseases that might not be prevalent in the traveller’s home country but are endemic in the region they intend to visit. Travel vaccines work against numerous diseases such as hepatitis A, hepatitis B influenza, meningococcal, diphtheria pertussis tetanus (DPT), and others. Modern vaccine development techniques, such as recombinant DNA technology and mRNA vaccines technology, have revolutionized the process of creating vaccines. The advances in biotechnology have enabled the creation of tailored vaccines that can be customized to target specific strains or variants of pathogens. This is particularly important for travel vaccines, as disease prevalence and strains can vary by region.
 

COVID-19 Impact

The COVID-19 pandemic had a major impact on the travel vaccines industry. During the COVID-19 pandemic, travel restrictions, lockdowns, and widespread fear of the virus led to a drastic reduction in international and domestic travel. Many people postponed or cancelled their travel plans, hampering the demand for travel vaccines. For instance, in January 2022, the World Tourism Organization (UNWTO) published a report stating that, the global tourism experienced a 4% upturn in 2021 as compared to 2020 (415 million versus 400 million). However, the international tourist arrivals were still 72% below the pre-pandemic year of 2019, according to preliminary estimates by UNWTO. Additionally, UNWTO also stated 2020, as the worst year on record for tourism, when international arrivals decreased by 73%.
 

Travel Vaccines Market Driving Factors

The initiatives by governments and other organizations to enhance travel safety is a key factor driving the gains of industry. The increase in the number of travel-related diseases globally has led governments and other organizations to take initiatives that ensure the safety of international travel. For instance, the world health organisation (WHO) has recommended that travellers must receive the yellow fever vaccine to travel to certain countries in Africa and South America. Furthermore, the WHO also recommended that travellers must obtain a valid international certificate of vaccination or prophylaxis (ICVP) as a proof of vaccination required for entry into certain countries.
 

Travel Vaccines Restraining Factors

The substantial cost associated with travel vaccines presents a notable hindrance to the expansion of the travel vaccines market. On average, first-time travellers typically require 2-3 vaccinations, which are often provided at elevated rates by travel clinics. Moreover, the introduction of new vaccines, often the most expensive, tends to further deter travellers from opting for vaccination. Beyond the vaccines themselves, the financial outlay can encompass consultation fees, administration charges, and potentially multiple doses for specific vaccines. These elevated expenses collectively dissuade many travellers from pursuing complete immunization prior to their journeys. Compounding the issue, some patients might perceive certain vaccines as non-essential, exacerbating their reluctance.
 

Travel Vaccines Market Analysis

Based on composition, the travel vaccines market is segmented into mono vaccines and combination vaccines. In 2022, the mono vaccines segment accounted for the highest market revenue of USD 2.2 billion and is expected to grow at a CAGR of 9.2% by 2032. This large share of this segment can be attributed to the ability of mono vaccines to provide targeted protection against specific diseases. The travellers frequently have varying destination-related health risks, and opting for mono vaccines allows healthcare providers to customize immunization plans according to these risks. By selecting individual vaccines, travellers can receive protection against only the diseases that are prevalent in their intended destination, avoiding unnecessary spendings on vaccinations. Due to such reasons travellers prefer mono vaccines more than combination vaccines.
 

Based on disease type, the travel vaccines market is segmented into hepatitis A, hepatitis B, influenza, diphtheria pertussis tetanus (DPT), rabies, yellow fever, typhoid, measles, and mumps, meningococcal, and others. The hepatitis A segment accounted for the largest market share of 20.2% in 2022 and is expected to showcase expansion at a CAGR of 9% by 2032 attributed to the high prevalence of hepatitis A among the population. For instance, according to a Centre of Disease Control and Prevention (U.S.) report, in 2023, there were 44,903 cases, 27,435 hospitalizations, and 423 deaths due to hepatitis A.
 

Based on application, the travel vaccines market is classified into domestic travel and outbound travel. In 2022, the outbound travel segment accounted for the largest market revenue of USD 2.2 billion and is expected to grow at a CAGR of 9.1% by 2032 attributed to the increase in travel for different purposes such as business, vacations, medical tourism, migration, and other purposes. For instance, according to U.S department of commerce, National Travel and Tourism Office from Bureau of Economic Analysis, in 2021, outbound travellers from the U.S. spent more than USD 8 billion on their travelling.
 

North America travel vaccines market accounted for a revenue of USD 1.6 billion in 2022, and it is expected to reach USD 4 billion by 2032 due to the frequent travelling, both for business and leisure. The sizable population and strong economy encourage a significant number of outbound and domestic trips, creating a substantial market for travel vaccines. For instance, according to Tourism Economics and U.S. Travel Association, in 2021, the total spending of domestic leisure travellers in the U.S. amounted to USD 751 billion and the international travel spending in the U.S. amounted to USD 40 million.
 

Travel Vaccines Market Share

The prominent players in travel vaccines market are

• GSK plc
• Sanofi
• Janssen Pharmaceuticals Inc.
• Pfizer Inc.
• CSL Ltd.
• Qiagen N.V.
• AstraZeneca
• F. Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Valneva Inc.
   

Travel Vaccines Industry News:

• In January 2022, Pfizer and BioNTech signed a new global collaboration agreement to develop the first mRNA-based shingles vaccines with the aim to accelerate the development of an improved vaccines for shingles. This collaboration will benefit both the companies to expand their business, since they are the first ones to develop an mRNA-based shingles vaccines in the market.
   
• In March 2021, Sanofi made an investment of more than USD 750 million in a new vaccine manufacturing facility at its existing site in Toronto, Canada. The investment in a new facility provided additional antigen and filling capacity for Sanofi’s Fluzone High-Dose Quadrivalent influenza vaccine, helping to increase supply availability in Canada, the US, and Europe.
   

The travel vaccines market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Composition

• Mono vaccines
• Combination vaccines

By Disease Type

• Hepatitis A
• Hepatitis B
• Influenza
• Diphtheria pertussis tetanus (DPT)
• Rabies
• Yellow fever
• Typhoid
• Measles and mumps
• Meningococcal
• Other disease vaccines

By Application

• Outbound travel
• Domestic travel

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa