DUBLIN--(BUSINESS WIRE)--The "Middle East and Africa 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 MEA is expected to grow from US$ 120.13 million in 2021 to US$ 167.76 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.
Continuous demand for life-saving vaccines is the major factor leading to the growth of the travel vaccines market in the region. Vaccines are essential in providing immunity against infectious diseases. Success stories of eradicating smallpox and polio by vaccines inspired many researchers and manufacturing companies. In recent times, vaccines helped control and prevent COVID-19 to a large extent.
Moreover, factors such as the growing population, the MEA travel underlying mutations of bacteria and virus, and the development of new threats that require rapid solutions are likely to boost the demand for vaccines and are expected to flourish the market growth during the forecast period.
Despite several manufacturing challenges, vaccine production increased significantly. Technological developments enabled researchers and manufacturing companies to offer potential changes in the formulation, production, and development of vaccines. Also, growing developments in the healthcare industries in developing countries triggered the development and production of vaccines. Such programs are likely to increase the production of vaccines and meet the never-ending demand for immunization in the future.
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 MEA travel vaccines market. The MEA travel vaccines market is expected to grow at a good CAGR during the forecast period.
Abbott; Bharat Biotech; GlaxoSmithKline plc; Merck & Co., Inc.; Novartis AG; Pfizer Inc.; and Sanofi are among the leading companies in the travel vaccines market in the region.
MEA Travel Vaccines Market Segmentation
- The MEA travel vaccines market, based on product, is segmented into hepatitis A, hepatitis B, meningococcal vaccines, and others. In 2021, others segment held the largest share of the market.
- The MEA travel vaccines market, based on application, is segmented into domestic travel and outbound travel. In 2021, the outbound travel segment held the largest share of the market.
- Based on country, the MEA travel vaccines market is segmented into Saudi Arabia, South Africa, UAE, and the Rest of the MEA.
Key Market Dynamics
Market Drivers
- Significant Rise in Travel and Tourism
- High Number of Cases of Infectious Diseases
Market Restraints
- High Cost of Travel Vaccines
Market Opportunities
- Vaccines Becoming Mandatory
Future Trends
- Continuous Demand for Vaccines
Company Profiles
- Abbott
- Bharat Biotech
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/ck4hcs
