The Travel Vaccines Market is estimated to reach US$ 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 US$ 6,914.22 Million by 2032.
Vaccination is an extremely efficient way of preventing some infectious diseases. Vaccines
are relatively safe, with significant adverse effects being extremely rare. Most of the world’s youngsters are protected from a variety of infectious diseases by the routine immunisation programmes. Previously, millions of people died each year because of various diseases. Vaccination provides travellers with the option of preventing various infectious diseases that kids may come into contact with, when away from home.
There are several government bodies which are taking constant efforts in order to prevent the spread of diseases. Vaccinations are made mandatory to travellers before crossing the borders. Moreover, there are several pharmaceutical companies that are innovating as well as inventing new vaccinations for the constantly growing infectious diseases.
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The players have developed vaccinations that have less dosages to ensure the safety and prevent the side effects caused by the vaccines. Combinations of vaccines are also being used to generate immunity against multiple diseases. The growing incidences of infectious diseases and increasing awareness among travellers will boon the travel vaccines sector in the upcoming times
“Innovation in existing technology of vaccines and travellers getting more health conscious will prove to be beneficial for the Travel Vaccines Market” Says an FMI analyst.
Key Takeaways:
- In terms of disease type, covid-19 vaccinations will have great demand in upcoming years.
- By booking channel, the in-person booking segment is anticipated to hold a noteworthy share of nearly ~65%.
- In terms of age group, demand in the age group 0-14 years and 66-75 years will continue gaining traction through 2032.
Impact of COVID-19 on the Market
The tourism sector was damaged due to the regulations of the pandemic caused by covid-19. Travelling was paused throughout the world. This has caused more number of travellers to come out of their homes and explore new places. However, the pandemic also resulted in people getting more conscious about their health. This increase in awareness of travellers has enhanced the travel vaccines market.
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Who is winning?
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, Moderna, Serum Institute of India, Takeda, Chiron, BioNTech, Astra Zeneka, and GSK Vaccines among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of Travel Vaccines market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Travel Vaccines by Diseases Type (Covid-19, Ebola, Influenza, Hepatitis, Others) Booking Channel (Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (0-14 Years, 15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 56-65 Years, 66-75 Years) & Region – Forecast to 2017 – 2032.
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