Travel Vaccines Market Analysis

Travel Vaccines Market Analysis

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Based on composition, the travel vaccines market is segmented into mono vaccines and combination vaccines. In 2022, the mono vaccines segment accounted for the highest market revenue of USD 2.2 billion and is expected to grow at a CAGR of 9.2% by 2032. This large share of this segment can be attributed to the ability of mono vaccines to provide targeted protection against specific diseases. The travellers frequently have varying destination-related health risks, and opting for mono vaccines allows healthcare providers to customize immunization plans according to these risks. By selecting individual vaccines, travellers can receive protection against only the diseases that are prevalent in their intended destination, avoiding unnecessary spendings on vaccinations. Due to such reasons travellers prefer mono vaccines more than combination vaccines.
 

Based on disease type, the travel vaccines market is segmented into hepatitis A, hepatitis B, influenza, diphtheria pertussis tetanus (DPT), rabies, yellow fever, typhoid, measles, and mumps, meningococcal, and others. The hepatitis A segment accounted for the largest market share of 20.2% in 2022 and is expected to showcase expansion at a CAGR of 9% by 2032 attributed to the high prevalence of hepatitis A among the population. For instance, according to a Centre of Disease Control and Prevention (U.S.) report, in 2023, there were 44,903 cases, 27,435 hospitalizations, and 423 deaths due to hepatitis A.
 

Based on application, the travel vaccines market is classified into domestic travel and outbound travel. In 2022, the outbound travel segment accounted for the largest market revenue of USD 2.2 billion and is expected to grow at a CAGR of 9.1% by 2032 attributed to the increase in travel for different purposes such as business, vacations, medical tourism, migration, and other purposes. For instance, according to U.S department of commerce, National Travel and Tourism Office from Bureau of Economic Analysis, in 2021, outbound travellers from the U.S. spent more than USD 8 billion on their travelling.
 

North America travel vaccines market accounted for a revenue of USD 1.6 billion in 2022, and it is expected to reach USD 4 billion by 2032 due to the frequent travelling, both for business and leisure. The sizable population and strong economy encourage a significant number of outbound and domestic trips, creating a substantial market for travel vaccines. For instance, according to Tourism Economics and U.S. Travel Association, in 2021, the total spending of domestic leisure travellers in the U.S. amounted to USD 751 billion and the international travel spending in the U.S. amounted to USD 40 million.