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Written by James » Updated on: November 19th, 2024
IMARC Group has recently released a new research study titled “Travel Vaccines Market Report by Composition (Mono Vaccines, Combination Vaccines), Disease (Hepatitis A, DPT, Yellow Fever, Typhoid, Hepatitis B, Measles and Mumps, Rabies, Meningococcal, Varicella, Japanese Encephalitis, and Others), and Region 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global travel vaccines market size reached US$ 4.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.6% during 2024-2032.
Global Travel Vaccines Market Trends:
The increasing global travel trends have exposed individuals to a variety of infectious diseases in different regions, necessitating the need for vaccinations to ensure safe travel. Secondly, rising awareness regarding the importance of preventive healthcare measures has spurred demand for travel vaccines. Additionally, governments and healthcare organizations have been actively promoting immunization campaigns for travelers, further boosting the market. Furthermore, the emergence of new and more accessible vaccines, coupled with advancements in healthcare infrastructure, has made travel vaccinations more accessible to a wider population.
Factors Affecting the Growth of the Travel Vaccines Industry:
Increasing International Travel: The growth of the travel vaccines market is significantly influenced by the rising trend of international travel. Moreover, as more people explore foreign destinations, the risk of exposure to various infectious diseases increases. This has led to a higher demand for travel vaccines to ensure the safety and well-being of travelers. Other factors such as globalization, improved air connectivity, and a growing middle-class population with disposable income contribute to the surge in international travel, consequently boosting the travel vaccines market.
Government Regulations and Recommendations: Government regulations and recommendations play a pivotal role in shaping the travel vaccines market. Many countries have specific requirements for travelers, especially when visiting regions with known disease outbreaks. Governments often mandate vaccinations to protect public health and curb the spread of diseases. Moreover, recommendations by health organizations and agencies, such as the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC), influence travelers' decisions to get vaccinated before their trips. Compliance with these regulations and recommendations drives the demand for travel vaccines.
Increasing Awareness and Education:The growth of the travel vaccines market is also driven by increased awareness and education about the importance of immunization before travel. Healthcare providers, travel agencies, and online resources provide information about the risks associated with specific destinations and the vaccines required. Travelers are now more informed about the health risks they may encounter during their journeys, leading to proactive measures such as vaccination. Additionally, the ease of access to information through the internet and social media platforms has contributed to travelers' awareness of the need for vaccinations, positively impacting the market's growth.
Travel Vaccines Market Report Segmentation:
By Composition:
Combination vaccines are the largest segment due to their convenience in providing immunity against multiple diseases through fewer injections, thus enhancing compliance and coverage rates.
By Disease:
Hepatitis A vaccines represent the largest segment because of the high prevalence of Hepatitis A in many regions, coupled with the strong recommendation for vaccination by health authorities for travelers to endemic areas.
Regional Insights:
North America emerged as the largest market for travel vaccines primarily due to the high awareness of vaccine-preventable diseases, robust healthcare infrastructure, and the presence of key vaccine manufacturers in the region.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Leading Key Players in the Travel Vaccines Industry:
Key Highlights of the Report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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