Dublin, April 27, 2022 (GLOBE NEWSWIRE) -- The "Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Application" report has been added to ResearchAndMarkets.com's offering.
Hepatitis A Segment to Account for Largest Share During 2021-2028
According to the latest research study on 'Global Travel Vaccines Market is expected to reach US$ 5,914.22 million by 2028 from US$ 3,078.94 million in 2021. It is estimated to grow at a CAGR of 9.8% from 2021 to 2028.
The rapid growth in the travel and tourism sector, increasing awareness regarding the prevention of transnational infections, and the rising incidence of infectious diseases are contributing to the travel vaccine market's progress. However, the high cost of travel vaccines hinders the travel vaccines market's growth. The report highlights the key factors driving the market and prominent players with their developments in the market.
Before the COVID-19 pandemic of 2020, travel vaccines-related regulations and advisories pertained primarily to infectious diseases. Still, they showed a disparity among travelers wherein certain groups of travelers such as travelers visiting friends and relatives and casual travelers would choose not to get vaccinated, primarily due to the cost of the vaccine, poor awareness, and personal choice. This led to many endemics and transnational infections. The COVID-19 pandemic has had a significant impact on the global health economies and has significantly pressurized the healthcare infrastructure worldwide.
As major healthcare infrastructures were focused on treating COVID-19 patients, prevention of the spread of the disease took imperative with significant restrictions being imposed on domestic and international travel. This led to a steep decline in the demand for travel vaccines.
However, as travel restrictions were relaxed, more emphasis was put on the prompt vaccination of travelers to prevent the spread of any diseases. The awareness among travelers and the general public improved during the COVID-19 pandemic, leading to more care put on travel vaccinations to prevent the spread of infectious diseases between regions.
In the post-pandemic era, the public is considerably more aware and alert around the spread of infectious diseases through coming in contact with infected persons.
Also, the health authorities worldwide have imposed more stringent advisories and regulations to increase travel vaccination among travelers, consequently leading to the increased demand for travel vaccines, thereby boosting the travel vaccine market size.
Based on product, the travel vaccines market is segmented into hepatitis A, hepatitis B, meningococcal vaccines, diphtheria pertussis tetanus (DPT), yellow fever, typhoid, Japanese encephalitis (JE), measles mumps & rubella, rabies, polio, influenza, varicella & shingles, cholera, and others. The hepatitis A segment held the largest share of the market in 2021.
However, the DPT segment is projected to register the highest CAGR during the forecast period. The DPT vaccine is one of the most commonly recommended travel vaccines. DPT vaccination is recommended in major countries, such as the US, Canada, Mexico, UK, Germany, India, China, Japan, the UAE, Saudi Arabia, and many more. This is expected to increase the demand for vaccinated travelers, increasing the travel vaccine market size.
Additionally, the influenza segment is expected to show robust growth during the forecast period. The influenza vaccine is frequently used for immunization against influenza on a seasonal basis. This is expected to continue driving the segment and, eventually, the market's rise.
GlaxoSmithKline plc; Merck & Co., Inc.; Sanofi; Novartis AG; Pfizer Inc.; Dynavax Technologies; Emergent BioSolutions Inc.; Abbott; Bharat Biotech; and Valneva SE are the leading companies in the global travel vaccines market.
These companies have taken various steps and driven innovations in the travel vaccines market, leading to the market's growth.
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Travel Vaccines Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Travel Vaccines Market- Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. Travel Vaccines Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Travel & Tourism and Prevention of Transnational Infections
5.1.2 Growing Incidences of Infectious Diseases
5.2 Market Restraints
5.2.1 High Cost of Travel Vaccines
5.3 Market Opportunities
5.3.1 Awareness Regarding Vaccines
5.4 Future Trends
5.4.1 Travel Mandates & Regulations
5.4.2 Never-ending Demand for Vaccines
5.5 Impact Analysis
6. Travel Vaccines Market - Global Analysis
6.1 Global Travel Vaccines Marker Revenue Forecast and Analysis
6.2 Global Travel Vaccines Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Travel Vaccines Market Analysis - By Product
7.1 Overview
7.2 Travel Vaccines Market Revenue Share, by Product (2021 and 2028)
7.3 Hepatitis A
7.4 Hepatitis B
7.5 Meningococcal Vaccines
7.6 DPT (Diphtheria/Pertussis/Tetanus)
7.7 Yellow Fever
7.8 Typhoid
7.9 Measles, Mumps, and Rubella
7.10 Rabies
7.11 Varicella & Shingles
7.12 Japanese Encephalitis
7.13 Poliomyelitis
7.14 Influenza
7.15 Cholera
8. Travel Vaccines Market Analysis - By Application
8.1 Overview
8.2 Travel Vaccines Market Revenue Share, by Application (2021 and 2028)
8.3 Domestic Travel
8.4 Outbound Travel
9. Travel Vaccines Market - Geographical Analysis
10. Impact of COVID-19 Pandemic on Global Travel Vaccines Market
11. Travel Vaccines Market-Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Travel Vaccines Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
- GlaxoSmithKline plc
- Merck & Co. Inc.
- Sanofi
- Novartis AG
- Pfizer Inc.
- Dynavax Technologies
- Emergent Biosolutions Inc.
- Abbott
- Bharat Biotech
- Valneva Se.
For more information about this report visit https://www.researchandmarkets.com/r/re0yqr
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