Outbound Travel Segment to Lead Travel Vaccines Market During 2021-2028

According to our latest study on "Global Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Analysis - by Product, and Application," the market is projected to reach US$ 5,914.22 million by 2028 from US$ 3,078.94 million in 2021; it is estimated to grow at a CAGR of 9.8% from 2021 to 2028. The report highlights the key factors and trends impacting the market and focuses on prominent players and their game-changing strategies.

The rapid growth of the travel and tourism sector, and the rising incidence of infectious diseases contribute to the market progress. However, the high cost of travel vaccines hinders the market growth.

Based on application, the global travel vaccines market is segmented into outbound travel and domestic travel. The outbound travel segment held a larger market share in 2021 and is anticipated to register the highest CAGR during the forecast period.

The outbound travel has grown dramatically in past recent years for the purpose of business, tourism, medical tourism, etc. For instance, Americans take 93.0 million international outbound trips each year. Annually, the US hosts ~79.6 million international visitors. According to Trade.gov, outbound travel reached 93 million last year, showing more Americans are willing to take an outbound trip and travel out of the country. Thus, these travelers are likely to be at a higher risk of acquiring diseases such as measles, typhoid, hepatitis, and yellow fever. Therefore, the WHO recommends some routine vaccinations for all travelers and specific vaccinations for travelers to regions with a high risk of specific diseases. Therefore, some countries require proof of immunization against some infectious diseases before travelers enter the country.

GlaxoSmithKline plc; Merck & Co., Inc; Sanofi; Novartis AG; Pfizer Inc; Dynavax Technologies; Emergent BioSolutions Inc; Abbott; Bharat Biotech, and Valneva SE are among the leading companies operating in the global travel vaccines market.

The outbound travel is expected to offer vital growth opportunities to the market as the restriction for international travels has been removed after the COVID-19 pandemic. Therefore, it is expected that business travels, trading, and tourism will grow significantly across the world.

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com