Travel Vaccine Market Projected to be Dominated by the Hepatitis A Segment Through 2027
Rising
awareness towards transnational infections and increasing inclination towards
leisure travelling are contributing to the growth of the global travel vaccine
market.
According
to TechSci report on, “Travel Vaccine Market
- Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027”, the
global travel vaccine market is anticipated to register lucrative growth with
formidable CAGR over the forecast period of 2023-2027. The market growth can be attributed to the rising
incidence of travel-related viruses like hepatitis, Japanese encephalitis,
meningitis, and yellow fever, among others. Besides, growing global arrivals of
foreign visitors due to surge in leisure and business travelling has led to
high demand for travel vaccines across the globe. With the emergence of new
viruses, pharmaceutical companies and research institutes are increasingly
focusing on testing and developing fresh, improved, and effective vaccines,
which is anticipated to boost the growth of the global travel vaccine market. The
COVID-19 pandemic acted as a catalyst to boost the demand for vaccines since
many countries asked for vaccination certificates from arriving travelers.
Post-pandemic, people have become more aware of the new kinds of viruses that
could compromise their health. Hence, increasing awareness among population
regarding various kinds of infections, owing to increased initiatives by the
government and health authorities is supporting the market growth.
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The global travel vaccine market is segmented by composition,
disease indication, travel type, and regional distribution. Based on the composition,
the market is bifurcated into mono vaccines and combination vaccines. The
combination vaccines segment is anticipated to register the highest growth in
the global travel vaccine market during the forecast period. People are
inclined more towards combination travel vaccines since they provide enhanced
protection against several diseases in fewer shots. Besides, licensed
combination travel vaccines are just as safe and effective as mono vaccines.
Moreover, scientists are more focused on developing and testing new combination
vaccines, which is anticipated to fuel the segment growth in the coming years.
By disease indication, the market is divided into
Hepatitis A, DPT, Yellow Fever, Typhoid, Hepatitis B, Measles and Mumps,
Rabies, Meningococcal, Varicella, Japanese Encephalitis, and others. The
Hepatitis A is expected to hold the largest share in the global travel vaccine
market, owing to the rising cases of Hepatitis A infection across the world.
Hepatitis A is a serious liver disease caused by unknowingly ingesting objects,
foods, or drinks contaminated by small amounts of stool from an infected person
or even coming in close and personal contact with an infected person. The risk
of Hepatitis A increases for travellers that visit rural areas, trek in
backcountry areas, or eat or drink in settings of poor sanitation. Many
national governments and health agencies are also taking action to raise
awareness regarding Hepatitis A, which is fuelling the demand for Hepatitis A
vaccines among travellers.
Based on travel type, the market is bifurcated into
domestic and international. The international travel segment is likely to
dominate the global travel vaccine market, owing to increasing interest of travelers
to visit exotic destinations where they may be at risk for a myriad of
diseases. Several countries ask for international certificate of vaccination
(ICV) approved by the World Health Organization (also known as yellow card) as
a proof of vaccination against certain diseases from arriving travelers.
A list of major
market players of the global travel vaccine market includes:
- GlaxoSmithKline,
plc.
- Sanofi S.A.
- Novartis
International AG
- Merck KGaA
- Pfizer Inc.
- AstraZeneca Plc.
- Abbott
Laboratories, Inc.
- F. Hoffmann-La
Roche AG
- CSL Limited
- Johnson & Johnson
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“Rapid globalization and
increasing personal discretionary income of the population have led to an
increasing demand for leisure and business travel. With the growth in travel
and tourism, there has been significant rise in transnational infections.
Hence, people are increasingly opting for travel vaccines to protect themselves
against serious health disorders. Currently, North America is leading the
global travel vaccine market due to advanced healthcare infrastructure and
availability of advanced vaccines in the region. However, Asia-Pacific region
is expected to register the fastest growth in the global travel vaccine market,
owing to increasing health awareness regarding various kinds of infections and
rising need for travelling. Many research institutes and pharmaceutical
organizations are involved in the research and development of new vaccines that
are safe, effective, and cause less side-effects, which is likely to fuel the
market growth in the coming years.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Travel vaccine Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2017-2027 Segmented By Composition
(Mono Vaccines v/s Combination Vaccines), By Disease Indication (Hepatitis A,
DPT, Yellow Fever, Typhoid, Hepatitis B, Measles and Mumps, Rabies, Meningococcal,
Varicella, Japanese Encephalitis, Others), By Travel Type (Domestic v/s
International) and By Region” has evaluated
the future growth potential of global travel vaccine market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in travel vaccine market.
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