Travel Vaccines Market

Market Overview

The global travel vaccines market was valued at USD 4 billion in 2023 and is projected to reach USD 8.1 billion by 2032, registering a CAGR of 9.5% during the forecast period (2024-2032). The market is influenced by increased global mobility, heightened awareness of vaccine-preventable diseases among travelers, and required legislation requiring immunization before visa issuance.

Travel vaccines, often called travel immunizations or travel vaccinations, are injections administered to persons before their travel to particular regions or countries to safeguard them against specific diseases that may be widespread in such locations. The objective is to mitigate the transmission of contagious illnesses and ensure the well-being of both travelers and the indigenous people. The selection of vaccines advised or mandated for travel is contingent upon several criteria, such as the travel location, the length of the journey, the age and health condition of the traveler, and their prior immunization record.

The market expansion is anticipated to be driven by a rise in travel-related disorders. Traveling is frequently linked to increased health hazards, particularly contagious illnesses. Consequently, the increasing prevalence of diseases associated with travel will result in more significant investments in the worldwide Travel Vaccines Market to enhance the development of more efficient vaccines.

Highlights

• Combination vaccines generate the highest revenue share based on composition.
• Hepatitis A accounts for the largest market share by disease type.
• Outbound travel accounts for the largest market share by application.
• Adult vaccines account for the largest market share by end users.

Market Dynamics

Global Travel Vaccines Market Drivers

Rising International Travel

The rising global travel among the general population worldwide is fueling the expansion of the market. With the increasing globalization and ease of travel, the likelihood of encountering infectious diseases in different regions escalates. Travelers are visiting places with varying levels of healthcare quality and rates of disease, which makes being vaccinated an essential precaution. The initial UNWTO World Tourism Barometer for the year indicates that international tourism concluded 2023 at 88% of the levels observed before the pandemic, with an approximate count of 1.3 billion international arrivals.

The Middle East spearheaded the rebound compared to other regions by surpassing pre-pandemic levels, with a 22% increase in arrivals compared to 2019. Europe, the area with the most tourists, saw a 94% recovery compared to 2019, thanks to domestic travel within the region and visitors from the United States. Africa experienced a 96% rebound in visitors compared to the period before the epidemic, while the Americas achieved a recovery rate of 90%. After reopening many markets and destinations, the Asia-Pacific region achieved 65% of the levels before the epidemic. Nevertheless, the performance of South Asia has been very positive, as it has already regained 87% of the levels seen in 2019. On the other hand, North-East Asia has only managed to recover roughly 55% of the levels seen in 2019.

Moreover, this tendency is additionally reinforced by the expansion of recreational travel, corporate travel, and overseas students pursuing education abroad. Furthermore, the increasing interest in unconventional and less-traveled destinations is prompting people to venture into areas with distinct health hazards, underscoring the necessity for specific vaccinations. The growing recognition among individuals regarding health measures during travel emphasizes the significance of vaccines for foreign travelers, presenting a positive market picture.

Government Initiatives and Regulations

Government actions and laws are crucial in influencing the market. Several nations acknowledge the significance of protecting public health and halting the transmission of diseases through global travel. Consequently, multiple countries' regulatory bodies enforce strict laws and guidelines about travel vaccines. These policies frequently require specific vaccines for anyone entering or leaving their borders, particularly for destinations with well-known illness hazards. Travelers visiting specific countries are mandated by the World Health Organization (WHO) to provide evidence of yellow fever vaccination by the International Health Regulations (IHR).

In addition, several governments provide subsidized or complimentary travel vaccines to their residents as part of public health initiatives. These legislation and activities establish a legal obligation for passengers and increase knowledge about the essentiality of travel vaccines, hence stimulating demand in the market.

Global Travel Vaccines Market Restraints

High Cost 

The exorbitant expense poses a substantial obstacle impeding business expansion. The exorbitant expense also presents a difficulty for travelers seeking vaccination against travel-related illnesses. An average novice traveler typically has to have approximately 2-3 vaccines. Travel clinics typically provide immunizations at slightly elevated costs, with the newest vaccines generally being the most costly. The exorbitant expense is a significant deterrent for tourists to obtain complete immunizations before embarking on their journey. Some travelers may consider some immunizations unnecessary, so their reluctance to cover the expenses of these vaccines could be a hindrance. Additionally, the excessive cost of vaccination may be an obstacle for travelers, such as students and volunteers, who plan to embark on a journey.

Global Travel Vaccines Market Opportunity

Product Innovation

Product innovation is a significant trend in the travel vaccine industry, with major businesses developing innovative vaccines to enhance their market positions. In August 2022, Takeda Pharmaceutical Corporation Limited, a pharmaceutical corporation located in Japan, obtained approval from the Indonesia National Agency for Drug and Food Control for QDENGA (Dengue Tetravalent Vaccine) (TAK-003). QDENGA, a vaccine developed to prevent dengue fever in adults between the ages of six and 45, has shown long-lasting effectiveness in protecting against dengue fever and hospitalization three years after vaccination, regardless of previous exposure to the disease.

Bavarian Nordic, a biopharmaceutical business headquartered in the United States, purchased Emergent BioSolutions' travel vaccination portfolio in May 2023. The financial details of the transaction were not released. This transaction involves purchasing two vaccines already on the market – Vivotif, used to prevent typhoid fever, and Vaxchora, used to avoid cholera. 

Additionally, it contains a vaccine candidate in Phase 3 of development that aims to protect the Chikungunya virus. The agreement also includes research and development facilities in the United States, a Swiss facility for producing biologics, and commercial activities in the European Union and the United States, supported by a dedicated salesforce. Emergent BioSolutions, a biotechnology company headquartered in the United States, specializes in producing medical devices, vaccines, and medicines. The company's travel vaccination division is included in the transaction.

Regional Analysis

North America Dominates the Global Market

The global travel vaccines market analysis is conducted across North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America is the most significant global travel vaccines market shareholder and is estimated to grow at a CAGR of 9.1% over the forecast period. North America will maintain its market dominance during the predicted period. The Pan American Health Organization (PAHO), a government entity, exerts significant influence on the regional market by establishing recommended immunization schedules for vaccination. The primary vaccinations marketed in North America included BOOSTRIX, INFANRIX, Pediarix, BEXSERO, MENVEO, and influenza vaccines. In affluent countries of the region, infectious and non-infectious diseases have been steadily rising in recent years. For example, in the United States, influenza significantly rises from November and remains consistently high for many weeks from January to February annually. 

Furthermore, the region is experiencing a rise in the availability of vaccines for these diseases and an increasing number of efforts to promote awareness about immunization programs. Moreover, those applying for an immigration visa in the United States must fulfill the vaccine prerequisites for specific diseases. The World Health Organization (WHO) and CDC advise that US travelers receive vaccinations against rabies, hepatitis A and B, measles, mumps and rubella, diphtheria, pneumonia, and influenza. Therefore, the increasing need for immunization before traveling to nations in the region is anticipated to promote the expansion of the market in North America throughout the projected timeframe.

Europe is anticipated to exhibit a CAGR of 9.8% over the forecast period. Due to their wide variety of locations and many international travelers, European countries show a substantial need for travel immunizations. The European Union is formulating rules for travelers, advising on vaccines according to the destination and health background. European tourists exhibit a proactive approach in seeking pre-travel healthcare advice, which has led to expanding the business in the region.

The Asia-Pacific market proliferates due to increased outbound tourism and business travel. With the growth of economies in the region, an increasing number of individuals now have both the financial resources and the inclination to travel to foreign countries. This leads to increased awareness of travel-related health concerns, driving the need for travel vaccines. In addition, several countries are gaining popularity as tourist hotspots, resulting in a rise in the number of incoming passengers needing vaccination.

Segmental Analysis

The global travel vaccines market is segmented based on composition, disease type, end-user, and application. 

Based on the composition, the market is segmented into Mono Vaccines and Combination Vaccines.

Combination vaccines dominated in 2023. Combination vaccines provide the advantage of safeguarding against many diseases by a solitary injection. Common combination vaccines include those that offer protection against hepatitis A and B and typhoid. Combination vaccinations offer a significant benefit by efficiently providing complete protection, simplifying the vaccination process for tourists. This convenience is beautiful for persons who intend to travel to areas with different disease risks, thereby minimizing the number of vaccinations needed. The category of combination vaccines is experiencing growth as a result of a higher demand for simplified vaccination schedules and improved adherence among travelers looking for a single-shot solution for their healthcare requirements.

The mono-vaccine segment is the fastest growing. Mono vaccines are composed of separate vaccines that specifically target particular diseases. These vaccines are specifically formulated to offer immunity against a single pathogen, such as hepatitis A, hepatitis B, or typhoid. Monovalent vaccinations are frequently advised for travelers visiting places with an exceptionally elevated risk of a particular disease. They provide focused protection, enabling travelers to tailor their immunization schedule to their destination and personal health requirements.

Based on disease type, the market is segmented into Hepatitis A, DPT, Yellow Fever, Typhoid, Hepatitis B, Measles and Mumps, Rabies, Meningococcal, Varicella, Japanese Encephalitis, and Others. 

The hepatitis A segment dominated in 2023. The hepatitis A category will have the highest market share throughout the projection period. Hepatitis A is commonly spread by food and water that has been polluted. Individuals who visit areas with insufficient sanitary facilities are more likely to ingest contaminated items, thus necessitating the Hepatitis A vaccination as a crucial measure for protection.

The DPT vaccines segment is the fastest growing. DPT vaccines, which provide immunity against diphtheria, pertussis (whooping cough), and tetanus, constitute a significant portion of the travel vaccines industry. Although these diseases are not limited to hazards associated with travel, they are included in specific international immunization recommendations. Tetanus may represent a risk to tourists encountering infected wounds on their trips. Thus, DPT immunizations guarantee complete protection against these avoidable illnesses, even while traveling.

The yellow fever vaccine segment is the second largest. Yellow fever vaccinations are designed to prevent yellow fever, a viral disease transmitted by mosquitoes, and are common in specific tropical areas. Travelers visiting areas in Africa and South America where yellow fever is frequently found must provide evidence of vaccination to enter. The yellow fever segment in the travel vaccines market caters to visitors who intend to visit these high-risk regions and must comply with international health laws.

By application, the market is segmented into Domestic Travel and Outbound Travel. 

The outbound travel segment dominated in 2023. Outgoing travelers frequently explore areas with diverse temperatures, habitats, and health hazards. Travelers may encounter uncommon diseases in their home countries, requiring particular travel vaccines to defend against infections peculiar to specific regions. Outgoing travelers have the opportunity to visit nations that have different degrees of healthcare infrastructure. Disparities in access to medical facilities and healthcare services might vary greatly, underscoring the importance of preventive measures, such as immunizations, in preserving health while traveling internationally.

The domestic travel segment is the fastest growing. Although overseas travel frequently receives more focus, domestic travel substantially drives the need for immunizations. Individuals journeying within their nation may encounter varying health hazards contingent upon the climate, topography, and incidence of diseases in different regions. Thus, those doing domestic excursions may need particular vaccines to safeguard against endemic diseases like tick-borne encephalitis or Lyme disease. Moreover, business travelers and tourists exploring domestic destinations also drive the need for travel vaccinations. This highlights the significance of addressing the travel needs of both international and domestic travelers in the market.

The market is segmented into adult and pediatric vaccines based on end-users. 

The adult vaccines segment dominated in 2023. Adult vaccines are pharmaceutical substances advised for individuals who have reached the age of 18 or above. These compounds protect against infectious diseases that can be acquired at any stage of life and can have severe repercussions for adulthood. Common adult vaccines include tetanus, diphtheria, pertussis (Tdap), influenza, pneumococcal illness, hepatitis A and B, and shingles. As global travel activities continue to expand, there will be a higher demand for adult vaccines. This will result in the expansion of the adult vaccine sector in the market throughout the forecast period.

The pediatric vaccines segment is the fastest growing. These vaccines are specifically formulated to safeguard children from measles, mumps, rubella, polio, hepatitis A and B, typhoid, and yellow fever. These diseases can be easily transmitted through direct contact with infected individuals or contaminated surfaces and can cause severe illness or even fatalities in some instances. Pediatrics not only safeguards the well-being of individual children but also plays a crucial role in preventing the transmission of contagious diseases and safeguarding public health. The extensive advantages of pediatric medicines will stimulate their utilization and contribute to the expansion of the pediatric vaccinations sector in the global market during the projected timeframe. 

Recent Developments

• November 2023– Valneva SE, a company specializing in vaccines, received approval from the FDA for its single-dose, live-attenuated vaccine called IXCHIQ®. This vaccine is intended to prevent disease caused by the chikungunya virus (CHIKV) in individuals who are 18 years of age and older and are more likely to be exposed to CHIKV. This indication has been granted speedy approval based on the levels of anti-CHIKV neutralizing antibodies. Further clearance for this use depends on confirming the clinical advantages in additional trials.
• December 2023– Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) received approval from the FDA for their supplemental Biologics License Application (COMIRNATY 2023-2024 Formulation). This approval allows the vaccine for individuals aged 12 and above. Additionally, emergency use authorization has been granted for individuals aged six months to 11 years for the companies' Omicron XBB.1.5-adapted monovalent COVID-19 vaccine.