Published Date : Mar 21, 2016
ALBANY, New York, March 21, 2016 - MarketResearchReports.biz announces the addition of a latest report, titled ‘Travel Vaccines Market To 2019 - Hepatitis A, Japanese Encephalitis And Meningococcal Vaccine Segments To Drive Growth,’ to its online repository. According to the report, the global travel vaccines market stood at US$1,343 mn in 2012 and is progressing at an 11.0% CAGR during the period from 2007 to 2012. From 2012 to 2019, the global travel vaccines market is expected to expand at a 7.50% CAGR to reach US$2,224 mn by 2019.
The increasing uptake of hepatitis A vaccines which is expected to have a 7.0% CAGR from 2012 to 2019 and grow from US$264 mn in 2012 to US$423 mn by 2019 is expected to propel the global travel vaccines market.
Travel vaccines or medicines deal with the management and prevention of health problems during domestic and international travels. Globalization has led to increased tourism but it also accelerates the spread of diseases among travelers who get exposed to different environments. The increasing incidence of diseases, illnesses, and injuries during travel has led to the growing demand for various vaccines. An increasing number of travel clinics facilitating the administration of travel vaccines and preventive medical care to travelers are expected to boost the global travel vaccines market in the next few years.
The global travel vaccines market is segmented on the basis of geography and vaccine type. Based on geography, the global travel vaccines market is divided into the U.S., top five nations in Europe (the U.K., France, Italy, Germany, Spain), and Japan. Some of the leading players operating in the global travel vaccines market are GlaxoSmithKline, Merck, Sanofi, Novartis, and Pfizer. The entry of new players is expected to make the global travel vaccines market more competitive in the years ahead. However, mergers, acquisitions, and partnerships will help top players maintain their leading position in the global travel vaccines market in the near future.
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Factors such as a growing aging population, the increase in global tourist traffic, the introduction of new vaccines and vaccine technologies, and the constant launch of novel vaccines targeting high-risk populations are predicted to propel the global travel vaccines market in the years to come. However, factors such as high start-up costs and the requirement of technical expertise for the production of vaccines are predicted to hamper the growth of the global travel vaccines market. Further, factors such as the lack of public acceptance and vaccine supply shortage issues are predicted to restrict the growth of the global market for travel vaccines throughout the forecast period.
Based on vaccine type, the global travel vaccines market is classified into hepatitis A vaccines, hepatitis B vaccines, Japanese encephalitis vaccines, meningococcal vaccines, rabies vaccines, typhoid vaccines, and yellow fever vaccines. Recent developments in the medical sector and medicines are predicted to boost the global travel vaccines market in the next few years. Newer varieties of travel vaccines launched by leading players and new entrants are expected to boost the global vaccines market in the years to come.
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