Global travel vaccines market is one of the fastest growing segments in the healthcare and medical industry. It is driven by the increased uptake of the hepatitis A vaccine. Vaccine acts biological preparation that fuels the immune system of a person to develop immunity against a particular disease and shields the person from that disease. Vaccines are usually administered through needle injections. However, it can also be sprayed into the nose or administered by mouth. There are several vaccines available which provide protection from different organisms. With the increase in the number of diseases worldwide, global travel vaccines market is also matching pace with it.
The rural areas and the developing countries face an increased number of health related problems. These regions have dissimilarities in the sanitary conditions and food & water bases. The government bodies such as the NHS and the CDC have made the vaccination of emigrants, who are traveling to disease prone areas, mandatory. According to the Center for Disease Control and Prevention (CDC), the travelers are supposed to be updated with the routine vaccinations, regardless of the travel plans. Hence, the outbound travelers form the key target population for the travel vaccines market. The travel vaccines are utilized for the prevention of hepatitis A, hepatitis B, tetanus, meningococcal disease, poliomyelitis, yellow fever and typhoid fever.
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Global travel vaccines market is amongst the most productive markets in the pharmaceuticals industry. The major driver for the growth of the global travel vaccines market includes increase in the global travel traffic and increase in the awareness about the diseases which are vaccine preventable. The other key factors boosting the demand of the travel vaccines market include technological advancements in molecular genetics and innovation of novel vaccines technology. Travel vaccines witnessed an increase in demand among the travelers in the recent past. Globalization is also considered to be one of the factors driving the market. Spread of diseases is enabled by globalization which exposes the travelers to dissimilar health environment. However, the production of travel vaccines involves immense expertise which is anticipated to drive the industry in a negative direction. Additionally, factors such as unfavorable healthcare funding towards vaccination, poor vaccination coverage, strict regulatory process, harmful effects of vaccines could pose a challenge for the growth in this market.
Global travel vaccines market is segmented into two types based on the composition. These include combination vaccines and monovalent vaccines. Monovalent vaccines protect against only one pathogen whereas combination vaccines protect against two or more diseases in a single shot. Combination vaccines reduce the number of shots one needs while protecting against many diseases. Examples of combination vaccine include measles, mumps and rubella vaccine (MMR), diphtheria, tetanus and pertussis vaccine (DTaP), etc. The aforementioned vaccines protect against three diseases each. The combination vaccine is projected to grow at a very fast pace and witness a high market share over the next seven years. The growth in this segment has been attributed to the growing prevalence of diseases. New vaccines are being tested and developed by the scientists to protect the children against more diseases. Hence, greater number of combination vaccines is anticipated to be available over the forecast period.
On the basis of geography, global travel vaccines market was dominated by North America, followed by Europe and Asia Pacific. The key contributing factors for North America to dominate the market includes launch of superior range of vaccines in the market and contribution of large number of companies in the production of vaccines. However, over the next seven years, Asia Pacific region is estimated to grow at a very high pace. Emerging economies such as China and India are projected to gain the focus from the major players of the vaccines market.
Global travel vaccines market is majorly concentrated. The top four players of the market include Merck, Sanofi Pasteur,GlaxoSmithKline and Pfizer. Collectively, they accounted for over 85% of the total travel vaccine market revenues. Other prominent companies in the industry include Novartis, Bavarian Nordic, Emergent BioSolutions Inc., Johnson & Johnson, CSL Limited, MedImmune LLC, BoehringerIngelheim and Zoetis, Inc.Sanofi Pasteur produces vaccines for Japanese encephalitis, yellow fever, rabies, typhoid fever and meningococcal meningitis therapeutics markets. GSK produces vaccines for hepatitis A and hepatitis B therapeutics markets.
A major trend of increase in the strategic alliances was witnessed by the global travel vaccines market. Regional vendors in the developing countries pose a serious threat. This might cause price corrosion and restrain major players to operate under low-profit margins. Merger & Acquisitions are expected to accelerate the market penetration of the acquirer or to enhance the product portfolio of the parent company. Formerly, global travel vaccines market was considered to be a commodity market. It is now predicted to be amongst the fastest developing markets in the pharma industry. In the recent past, the travel vaccines market has undergone huge growth and took over numerous conventional businesses functioning in the pharmaceutical industry. Positive response from different demographics and continuous product innovation led to the increase in the market growth.
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Travel Vaccines in these regions, from 2012 to 2022 (forecast), covering
• North America
• Southeast Asia
Global Travel Vaccines market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Janssen Pharmaceuticals
• Mitsubishi Tanabe Pharma
• LG Life Sciences
• Takeda Pharmaceutical
• Valeant Pharmaceuticals
• SK Chemicals
• Hualan Biological Engineering
• Indian Immunologicals
• Serum Institute of India
• Beijing Minhai Biotechnology
• Shenzhen Kangtai Biological Products
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Mono Vaccines
• Combination Vaccines
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Travel Vaccines for each application, including
• Domestic Travel
• Outbound Travel
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