The latest report on “Travel Vaccine Market (Composition – Mono Vaccine, and Combination Vaccines; Type – Attenuated Vaccines, Inactive Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, DNA Vaccines, and Recombinant Vector Vaccines; Disease Type – Hepatitis A, Hepatitis B, Typhoid and Paratyphoid Fever, Meningococcal Disease, Yellow Fever, Rabies, Japanese Encephalitis and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global travel vaccine market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
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The number of peoples traveling worldwide has increased substantially since the mode of transport via air, land, and sea has developed considerably. People travel abroad for business, holiday, studying, medical care, adventure, visiting friends and relatives, etc. thereby carrying with them pathogens and vectors resulting in pandemic diseases. Moreover, there are also concerns regarding health issues arising from disease outbreak or natural disaster to certain international destinations thereby affecting travelers’ health. For e.g. outbreak of yellow fever in Nigeria in September 2017. As a result, countries established entry requirements on vaccination for travelers to protect from spreading or importing the disease.
Thus, one of the effective methods for travelers to prevent disease is vaccination. Vaccination is a process of introducing vaccine i.e. a biological preparation that stimulates the body’s immune system to a particular disease. Travel vaccines also referred to as travel immunizations are shots that have to be taken by travelers to help protect them from infectious diseases before they visit particular areas of the world. However, a travel vaccine should be taken 1 month before traveling.
According to the UN World Tourism Organization, in 2018 international tourist arrival has reached up to 1.4 billion. This enormous rise in the number of tourists is the major factor enhancing the travel vaccine market. In addition to this, other factors such as meeting travel expenses, expanding business models and visa facilitation bring about an exponential leap in traveling which in turn drives the travel vaccine market. Furthermore, stringent regulations for health safety by regional government bodies also fuelling the growth of the market.
However, on the other hand, high cost and unskillful resource persons for the production of the disease-specific vaccines may hamper the market. Moreover, advancement in technology, awareness programs by government and private organizations, an outbreak of diseases come up with greater opportunities for the growth of the travel vaccine market during the forecast period.
North America is Dominating the Travel Vaccine Market
On the basis of region, the market is categorized into North America, Europe, Asia Pacific, and RoW. North America is dominating the travel vaccine market due to good reimbursement policies and a large number of key players in this region. The European travel vaccine market expects to boost owing to raising awareness of the diseases among the population as well as research on the development of disease-specific vaccines. Asia Pacific market will surge during the forecast period because of rising funds and an increase in the number of people traveling abroad for studies, careers, medical care, etc.
The report on the global travel vaccine market covers segments such as composition type and disease type. On the basis of composition, the sub-markets include mono vaccine, and combination vaccines. On the basis of type, the sub-markets include attenuated vaccines, inactive vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, DNA vaccines, and recombinant vector vaccines. On the basis of disease type, the sub-markets include hepatitis A, hepatitis B, typhoid, and paratyphoid fever, meningococcal disease, yellow fever, rabies, Japanese encephalitis, and others.
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The report provides profiles of the companies in the market such as GlaxoSmithKline plc, Pfizer Inc., F. Hoffman-La Roche Ltd., Merck & Co., Inc., Abbott Laboratories, Sanofi S.A, Dynavax Technologies Corporation, Shenzhen Kangtay Biological Products Co., Baxter International, Takeda Pharmaceuticals U.S.A., Inc., and other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the travel vaccine.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.