Global Travel Vaccines Market to Reach $6.6 Billion by 2027

Strategic Insights -

The global travel vaccines market experienced significant growth in 2021, reaching a value of $3.2 billion. According to a new report by ResearchAndMarkets.com, the market is expected to witness a compound annual growth rate (CAGR) of 11.1% during the forecast period 2022-2027, driven by increasing international travel, regulatory requirements, and the rise in life-threatening infectious diseases. The market is expected to reach $6.6 billion by 2027.

As more people travel to regions with endemic diseases, the demand for vaccines will continue to increase. Regulatory authorities across the globe have mandated that travelers should be vaccinated before traveling to disease-prone regions, making travel vaccines an essential requirement for international travelers. The Ministry of Health in the Kingdom of Saudi Arabia, for instance, requires travelers arriving for Hajj and Umrah to present a valid vaccination certificate.

Key Takeaways:

  • The global travel vaccines market size in 2021 was $3.2 billion.
  • The market is expected to reach $6.6 billion by 2027, exhibiting a CAGR of 11.1% during 2022-2027.
  • Driving factors include increasing international travel, regulatory requirements, and the rise in life-threatening infectious diseases.
  • Companies mentioned in the report include Sanofi Pasteur, Novartis, and Pfizer.
  • Major regions in the global travel vaccines market include developed countries, regions with endemic diseases, and countries with high incidence of life-threatening infectious diseases.
  • The report expects the market to be driven by increasing awareness levels, technological advancements, and the growing incidence of infectious diseases.

Statistics:

  • The number of international tourist arrivals worldwide increased from 1.0 billion in 2012 to nearly 1.4 billion in 2018 (Source: World Tourism Organization - UNWTO).
  • The demand for vaccines will continue to increase, driven by growing international travel (Source: ResearchAndMarkets.com).
  • The global travel vaccines market is expected to reach $6.6 billion by 2027, with a CAGR of 11.1% during 2022-2027 (Source: ResearchAndMarkets.com).
  • Regulatory authorities across the globe have mandated that travelers should be vaccinated before traveling to disease-prone regions (Source: Kingdom of Saudi Arabia Ministry of Health).

Sources:

  • World Tourism Organization - UNWTO
  • ResearchAndMarkets.com - "Travel Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027"
  • Kingdom of Saudi Arabia Ministry of Health
  • Other sources as mentioned in the original text