Global Travel Vaccine Market: Current Analysis and Forecast (2024-2032)

Report Description

Global Travel Vaccine Market Size & Forecast

The Global Travel Vaccine Market was valued at USD 4 billion in 2023 and is expected to grow at a strong CAGR of around 9.5% during the forecast period (2024-2032) owing to increased awareness about travel-related health risks and preventive measures among travelers fuels the market.

Global Travel Vaccine Market Analysis

The market size of Travel Vaccine across the globe is expanding because of several factors such as increased sedentary behavior, such as prolonged sitting or immobility, which raises the risk of communicable diseases. Also, Innovations in vaccine development and delivery systems enhance the efficacy and accessibility of travel vaccines.

In December 2021, Emergent BioSolutions Inc. declared the first participant dosed in its phase 1 study, EBS-UFV-001, studying the safety, tolerability, and immunogenicity of its investigational universal influenza vaccine candidate. The current and updated version of this influenza vaccine candidate includes multiple components intended to induce broad and supra-seasonal immunity against influenza A viruses.

Global Travel Vaccine Market Trends

This section discusses the key market trends that are influencing the various segments of the Global Travel Vaccine Market, as identified by our team of research experts.

Typhoid Segment Transforming Industry

Typhoid, caused by Salmonella Typhi bacteria, significantly drives the Travel Vaccine Market due to its prevalence in regions with poor sanitation and water quality standards, primarily in Asia, Africa, and parts of South America. Travelers to these areas are at heightened risk of contracting typhoid through contaminated food and water, making vaccination a crucial preventive measure. Governments and health organizations recommend or require typhoid vaccination for travelers to endemic regions, thereby boosting demand. The availability of both oral and injectable vaccines, with varying durations of protection, further supports market growth by catering to diverse traveler needs.

Asia-Pacific is Expected to Grow at a fastest CAGR During Forecast Period

The Asia Pacific Travel Vaccine Market is characterized by rapid growth driven by increasing outbound travel from populous countries like China and India, combined with rising awareness of travel-related health risks. The region sees robust demand for vaccines against diseases prevalent in tropical and subtropical climates, such as Hepatitis A and B, typhoid, and Japanese encephalitis. Government initiatives promoting vaccination, expanding healthcare infrastructure, and partnerships with international health agencies contribute to market expansion. Additionally, advancements in vaccine technology and the presence of key vaccine manufacturers in countries like India further bolster market dynamics in the Asia Pacific region.

Global Travel Vaccine Industry Overview

The Global Travel Vaccine Market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new type launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Merck & Co., Inc.; Sanofi; Novartis AG; Pfizer Inc.; EMERGENT; Abbott; Serum Institute of India Pvt. Ltd.; Takeda Pharmaceutical Company Limited; AstraZeneca; and GSK plc.

Global Travel Vaccine Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, type portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The Global Travel Vaccine Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Travel Vaccine Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the Global Travel Vaccine Market were the three major steps undertaken to create and analyze the adoption of global travel vaccines in major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Global Travel Vaccine Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Global Travel Vaccine Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Global Travel Vaccine Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as disease type, tourist type, age group, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Global Travel Vaccine Market. Further, we conducted factor analysis using dependent and independent variables such as disease type, tourist type, age group, and Global Travel Vaccine Market regions. A thorough analysis of demand and supply-side scenarios was conducted considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Global Travel Vaccine Market sector.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Travel Vaccine Market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to several factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the global Travel Vaccine market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Global Travel Vaccine Market in terms of types offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global Travel Vaccine Market. Data was split into several segments and sub-segments after studying various parameters and trends in the Global Travel Vaccine Market’s disease type, tourist type, age group, and regions.

The main objective of the Global Travel Vaccine Market Study

The current & future market trends of the Global Travel Vaccine Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the market’s overall attractiveness at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the global Travel Vaccine market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the disease type, tourist type, age group, and regions.
• Define and analyze the regulatory framework for the industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the global Travel Vaccine market for the major regions.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the global travel vaccine market and the growth strategies the players adopt to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

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