A recent report published by Infinium Global Research on the travel vaccine market provides an in-depth analysis of segments and sub-segments in the global as well as regional travel vaccine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional travel vaccine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global travel vaccine market. According to the report, the global travel vaccine market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
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.
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 and 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.
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.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of travel vaccine market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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