Dublin, June 19, 2023 (GLOBE NEWSWIRE) -- The "Global Travel Vaccine Market 2023-2028 by Disease Type, Booking Channel, Tourist Type, Tour Type, Age Group, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Travel Vaccines Market is estimated to be USD 4.07 Bn in 2023 and is expected to reach USD 6.46 Bn by 2028, growing at a CAGR of 9.67%.
The increased awareness of vaccine-preventable diseases among travelers is significantly driving market growth. The number of cross-border travelers has increased dramatically as a result of globalization. Vaccine-preventable diseases have received considerable attention in recent years. The increased awareness is linked to high vaccine uptake among travelers. Tour organizers are very important in raising awareness about vaccine-preventable diseases.
Moreover, Initiatives by governments and other organizations to enhance travel safety are significant trends in the market. The rise in the incidence of travel-related diseases around the world has prompted governments and other organizations to take steps to safeguard the safety of international travel.
Many organizations are launching campaigns to promote safe and healthy travel. Worldwide, for example, strives to inform travelers about preventable and non-vaccine preventable diseases. Its web system also provides travel immunization management to healthcare providers. Similarly, Australia's Department of Foreign Affairs and Trade gives current information on diseases prevalent in many countries. Therefore, the growing demand for vaccination and initiatives by government organizations to ensure travel safety are expected to support the market's growth.
However, the high cost of travel vaccinations limits the market growth. A typical first-time traveler requires 2-3 immunizations. Travel clinics charge more for immunizations; new vaccines are the most expensive. The high costs restrict travelers from being fully immunized before travel. Furthermore, patients may regard immunizations as unnecessary. Furthermore, the expensive expense of travel immunization may deter students and travelers from seeking immunization.
Also, the side effects associated with some vaccines are challenging for the growth of the Global Travel Vaccine Market. The fear of vaccine side effects creates hesitancy in travelers toward vaccines which ultimately makes them avoid getting vaccinated.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Travel Vaccine Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Travel Vaccine Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Travel Vaccine Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 123 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.07 Billion |
| Forecasted Market Value (USD) by 2028 | $6.46 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Awareness of Vaccine-Preventable Diseases
- Increasing Travel and Tourism
- Rising Prevalence of Life-Threatening Infectious Diseases
Restraints
- High Cost of Vaccines
Opportunities
- Governing and Non-Governing Agencies of Various Countries are Encouraging the Adoption of Travel Vaccines
- Technological Advancements, Such as Needle-Free Injection Technology (NFIT)
Challenges
- Side Effects Associated with Vaccines Compiled with Needle Fears and Phobia
Companies Mentioned
- Abbott
- AstraZeneca
- Bausch Health Companies Inc.
- Bharat Biotech
- BioNTech SE
- Dynavax Technologies
- Emergent BioSolutions
- F. Hoffmann-La Roche Ltd
- GSK plc.
- Merck & Co., Inc.
- Moderna, Inc.
- Novartis Ag
- Pfizer Inc.
- Sanofi
- Serum Institute of India
- Sinovac
- Takeda Pharmaceutical Company Ltd.
- Valneva SE
For more information about this report visit https://www.researchandmarkets.com/r/l9mnfe
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