DUBLIN--(BUSINESS WIRE)--The "Europe Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Application" report has been added to ResearchAndMarkets.com's offering.
The travel vaccines market in Europe is expected to grow from US$ 995.47 million in 2021 to US$ 1,885.56 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028.
Hepatitis, HIV/AIDS, human papillomavirus (HPV), meningococcal disease, typhoid, and yellow fever are among the various chronic diseases detected across the region.
Similarly, in 2021, the Centers for Disease Control and Prevention (CDC) launched the global immunization strategic framework 2021-2030. The framework provides a plan to vaccinate against vaccine-preventable diseases (VPDs), such as hepatitis A and B. Moreover, there are different vaccine routines for travelers proposed by WHO to prevent the spread of deadly infectious diseases.
The vaccine routine includes routine vaccines for review before traveling, vaccines for certain destinations, and vaccines demanded by certain countries. In most cases, booster doses of routine vaccines are required if people have not followed the regular schedule. Such initiatives by WHO and CDC enhance the vaccine demand, thereby driving its market growth.
On the other hand, the COVID-19 outbreak threatened public health. Various emergency actions were initiated during the pandemic, of which the COVAX initiative was aggressively enacted. Vaccination against COVID-19 was mandatory for people worldwide. Governments in every region mandated vaccines for people traveling within and outside countries. The COVID-19 pandemic contributed significantly to travel vaccines.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe travel vaccines market .
Europe Travel Vaccines Market Segmentation
- In 2021, the others segment held the largest share of the market.
- In 2021, the outbound travel segment held the largest share of the market.
Key Market Dynamics
- Significant Rise in Travel and Tourism
- Growing Incidences of Infectious Diseases
- High Cost of Travel Vaccines
- Awareness Regarding Vaccines
- Significant Demand for Vaccines
- Dynavax Technologies
- Emergent BioSolutions Inc.
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Valneva SE
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