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 the regional travel vaccine industry
Pune, India -- (SBWIRE) -- 11/27/2019 -- Infinium Global Research has added a new 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): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". Travel vaccines, also called travel immunizations shots travelers should get before visiting certain areas of the world that help protect them from serious illnesses. The global travel vaccine market was approximately valued at US$ 4.8 billion in 2018. It is anticipated to expand at a CAGR of 9.2% from 2019 to 2025 and is projected to reach US$ 8.68 billion during the forecast year of 2025.
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Technological Advancement, Awareness Programs, Pandemic Diseases Provide Greater Opportunities for the Growth
The travel vaccine market is expected to grow at a substantial rate worldwide due to the appreciable growth in the tourism industry. As per the UN World Tourism Organization, international tourist arrival has increased to 1.4 billion in 2018. Global tourism hits record as affordable travel expenses, digitalization, new business models and visa facilitation made traveling easier thereby, boosting the travel vaccine market. Globalization is also one of the factors that fuel the growth of the travel vaccine market. However, high maintenance costs, stringent government policies and inefficient expertise for vaccine production may hamper the growth of the market. Despite the headwinds, the market is expected to witness substantial growth opportunities over the forecast period due to technological advancement, awareness programs, pandemic diseases.
Combination Vaccine Segment is Expected to Grow During the Forecast Period
The travel vaccine market can be divided based on composition and types. Based on the composition the travel vaccine market can be further segmented into a mono vaccine and combination vaccines. Owing to the vast use, the combination vaccine segment is expected to grow with a significant rate during the forecast period, as the combination vaccine can be used to cure diphtheria, tetanus & pertussis, and increase immune compliance, in a single dose of vaccine. Furthermore, based on vaccine type the market can be bifurcated into attenuated vaccines, inactive vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, DNA vaccines, and recombinant vector vaccines.
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North America Holds the Largest Share
Geographically, the travel vaccine market is segmented into North America, Europe, Asia Pacific, and Row. North America dominates the market followed by Europe owing to its beneficial reimbursement policies and the dwelling of key players in this region. The market in Europe tends to grow due to the rise in awareness of the diseases and research on the development of disease-specific vaccines. Asia Pacific market is expected to have substantial growth in the forecast period as a result of the increasing prevalence of people traveling abroad and raising funds for vaccine development.
Travel Vaccine Market: Competitive Analysis
Some of the major key players operating in travel vaccine market are 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 others. GlaxoSmithKline plc, Merck & Co., Inc, Pfizer Inc., and Sanofi S.A. are the global players leading the travel vaccine market. Zydus Cadila and Serum Institute of India are other key players operating in the Asia-Pacific region.
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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.