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:

• Bharat Biotech Ltd. - The company offers travel vaccines such as BioHib, a lyophilized vaccine.

• CSL Ltd. - The company offers travel vaccines that prevent diseases when a person travels from one place to another.

• GlaxoSmithKline Plc - The company offers travel vaccines that prevent travelers from diseases when exposed to a new environment.

• Merck and Co. Inc. - The company offers travel vaccines that prevent infectious diseases such as COVID-19.

• Mitsubishi Chemical Holdings Corp. - The company offers travel vaccines that take more time to produce than ordinary drugs.

Key benefits for industry players & stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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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:

• Increase in global migration

• Increase in awareness about vaccine-preventable diseases among travelers

• Mandatory vaccination requirements prior to issuing visas

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:

• Changes in the demographic profile of travelers globally

• Increased incidence of travel-related diseases

• Initiatives by governments and other organizations to ensure travel safety

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:

• Absence of coverage for travel vaccines in many health plans

• High cost of travel vaccinations

• Delay in regulatory approvals for recommended travel vaccines in certain countries

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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What are the key data covered in this travel vaccines market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the Travel Vaccines Market between 2022 and 2026

• Precise estimation of the size of the Travel Vaccines Market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the Travel Vaccines Market industry across North America, Europe, Asia, and Rest of World (ROW)

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of Travel Vaccines Market vendors

Related Reports:

• The vaccines market size is expected to grow by USD 28.28 billion from 2021 to 2026, according to research by Technavio. The development of nanoparticle vaccines is a notable trend of market growth, although factors such as high cost of vaccine research, development, and manufacturing may impede the market growth.

• The global human combination vaccines market size is estimated to accelerate by USD  6,046.98 million between 2022 and 2027, and the market is expected to grow at a CAGR of 8.13%. The rise in cases of infectious diseases is notably driving market growth. The incompatibility of vaccine components can restrain market growth.

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Table of contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

• 4.1 Five forces summary

• 4.2 Bargaining power of buyers

• 4.3 Bargaining power of suppliers

• 4.4 Threat of new entrants

• 4.5 Threat of substitutes

• 4.6 Threat of rivalry

• 4.7 Market condition

5 Market Segmentation by Disease Type

• 5.1 Market segments

• 5.2 Comparison by Disease Type

• 5.3 Influenza - Market size and forecast 2021-2026

• 5.4 Diphtheria - Market size and forecast 2021-2026

• 5.5 Hepatitis - Market size and forecast 2021-2026

• 5.6 Others - Market size and forecast 2021-2026

• 5.7 Market opportunity by Disease Type

6 Customer Landscape

• 6.1 Customer landscape overview

7 Geographic Landscape

• 7.1 Geographic segmentation

• 7.2 Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026

• 7.4 Europe - Market size and forecast 2021-2026

• 7.5 Asia - Market size and forecast 2021-2026

• 7.6 Rest of World (ROW) - Market size and forecast 2021-2026

• 7.7 US - Market size and forecast 2021-2026

• 7.8 Germany - Market size and forecast 2021-2026

• 7.9 UK - Market size and forecast 2021-2026

• 7.10 Japan - Market size and forecast 2021-2026

• 7.11 China - Market size and forecast 2021-2026

• 7.12 Market opportunity by geography

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape

• 9.3 Landscape disruption

• 9.4 Industry risks

10 Vendor Analysis

• 10.1 Vendors covered

• 10.2 Market positioning of vendors

• 10.3 Bharat Biotech Ltd.

• 10.4 CSL Ltd.

• 10.5 GlaxoSmithKline Plc

• 10.6 Merck and Co. Inc.

• 10.7 Mitsubishi Chemical Holdings Corp.

• 10.8 Pfizer Inc.

• 10.9 Sanofi

• 10.10 Serum Institute of India Pvt. Ltd.

• 10.11 SK Chemicals Co. Ltd.

• 10.12 Takeda Pharmaceutical Co. Ltd.

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist

• 11.3 Currency conversion rates for US$

• 11.4 Research methodology

• 11.5 List of abbreviations

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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