Report : UK Travel Vaccine Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Product (Hepatitis A, Hepatitis B, Meningococcal Vaccines, and Others) and Application (Domestic Travel, and Outbound Travel)
Increasing Travel and Tourism Driving UK Travel Vaccines Market.
According to our latest study on "UK Travel Vaccines Market Forecast to 2028 – COVID-19 Impact and Country Analysis – by Product and Application," the market is expected to reach US$ 524.88 million by 2028 from US$ 267.56 million in 2021. The market is estimated to grow at a CAGR of 10.1% from 2022 to 2028. The report highlights the key factors driving the market and prominent players with their developments.
Travel and tourism have become an integral part of the human lifestyle. Traveling has added a change in the ongoing routine of people and offered several opportunities to explore different cultures, traditions, spiritualism, rural and ethnic tourism, and wellness and health holidays worldwide. Traveling outside the country requires immunization as a safety and precautionary measure to avoid spreading infections. Various countries have policies to protect their citizens from travel-associated infections. For instance, in the UK, National Health Service (NHS) organizes routine immunization or vaccination schedule for its citizens. If a person travels outside the UK, they must get vaccinated to prevent infectious diseases such as hepatitis A, typhoid, and yellow fever. With ~40 million visitors in 2017, the UK is among the most well-liked foreign travel destinations. Although the UK is renowned for its unpredictable weather, the winters and summers are generally temperate, albeit occasionally damp. The UK recognizes Covaxin as a reliable COVID-19 travel vaccination. This indicates that those immunized with Covaxin, one of the two main COVID-19 vaccines, will not have to separate themselves once they arrive in England. After experiencing a significant annual decline in 2020 due to the COVID-19 pandemic, Statista reports that the number of foreign tourists arriving in Europe increased by ~20% in 2021 compared to 2020. Although they peaked in 2019 at 745 million, foreign visitor arrivals were still far below pre-pandemic levels in 2021, registering ~287 million foreign visitors. UK was the leading country in terms of total international visitor arrivals worldwide in 2021. VisitBritain, A national tourism organization, reports that the UK received 11.1 million foreign visitors in 2020, a 73% decrease from the number of visitors in 2019. Inbound travel to the UK in 2020 comprised 11% from North America, 72% from Europe, and 17% from other nations. Thus, the increasing travel and tourism are driving the demand for the UK travel vaccines.
Based on product, the market is segmented into hepatitis A, hepatitis B, meningococcal vaccines, and others. The others segment held the largest share of the market in 2021. However, the meningococcal vaccines segment is anticipated to register the highest CAGR of 10.5% during the forecast period. Based on application, the UK travel vaccines market is segmented into domestic travel and outbound travel. In 2021, the outbound travel segment held a larger market share. Moreover, the outbound travel segment is expected to register a higher CAGR of 10.4% from 2021 to 2028.
Prominent players in the UK travel vaccines market implement inorganic strategies such as mergers, acquisitions, and partnerships. For instance, in December 2021, Emergent BioSolutions Inc. announced the first participant dosed in its phase 1 study, EBS-UFV-001, evaluating the safety, tolerability, and immunogenicity of the company’s investigational universal influenza vaccine candidate. The current version of the influenza vaccine candidate contains multiple components intended to induce broad and supra-seasonal immunity against influenza A viruses. These factors are expected to provide lucrative opportunities for the overall UK travel vaccines market growth during the forecast period.
GlaxoSmithKline plc.; Merck & Co., Inc.; Sanofi; Novartis AG; Pfizer Inc.; Dynavax Technologies; Emergent BioSolutions Inc.; Abbott; Seqirus; and Valneva SE are among the key players operating in the UK travel vaccines market.
The report segments the UK travel vaccines market as follows:
Based on product, the UK travel vaccines market is segmented into hepatitis A, hepatitis B, meningococcal vaccines, and others. Based on application, the UK travel vaccines market is segmented into domestic travel and outbound travel.
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