What is Travel Vaccines Market?
Vaccines against dangerous diseases secure passengers. Because of the rising number of travelers around the world, the travel vaccines market is expected to expand in the future. The rising incidence of travel-related diseases, as well as government efforts to ensure travel safety, are pushing up demand for travel vaccines. In the near future, rising investments in the research and development of more successful vaccines would create new growth opportunities.
The market study is being classified by Type (Hepatitis B Vaccines, Hepatitis A Vaccines, Typhoid and paratyphoid fever., Meningococcal Vaccines and Others), by Application (Domestic Travel and Outbound Travel) and major geographies with country level break-up.
Pfizer Inc. (United States), Sanofi S.A (France), GlaxoSmithKline plc (United Kingdom), Merck & Co., Inc. (United States), AstraZeneca plc (United Kingdom), Abbott Laboratories (United States), F. Hoffmann-La Roche AG (Switzerland), Takeda Pharmaceutical Company Ltd (Japan), Bausch Health Companies Inc. (Canada), SK Chemicals (South Korea) and Bavarian Nordic (Denmark) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Hualan Biological Engineering Inc. (China) and Serum Institute of India (India).
The companies are exploring the market by adopting mergers & acquisitions expansions investments new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Global Players will contribute to the maximum growth of Global Travel Vaccines market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Travel Vaccines market by Type, Application and Region.
On the basis of geography, the market of Travel Vaccines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Number of Travelers throughout the Globe
- Rising Prevalence of Infectious Diseases
Market Trend
- Governments Initiatives to Ensure Travel Safety
- Increasing Incidence of Travel-Related Diseases
Restraints
- Travel Vaccines are Expensive
Opportunities
- Rising Investments towards the Research and Development for More Effective Vaccines
- Growth in Tourism Industry in Developing Countries
Challenges
- Longer Timelines Required for Vaccine Production
- Stringent Government Regulation
Market Leaders and some development strategies
In Oct 2019, Bavarian Nordic announced that it has entered an agreement with GlaxoSmithKline plc to acquire the manufacturing and global rights to Rabipur®/RabAvert® and Encepur®. Rabipur/RabAvert provides pre- and post-exposure protection against rabies, while Encepur protects against European (Western) tick-borne encephalitis (TBE) virus.
In Dec 2018, The U.S. Food and Drug Administration has approved VAXELIS(TM) for use in children from 6 weeks through 4 years of age (prior to the 5th birthday). VAXELIS was developed as part of a joint-partnership between Sanofi and MSD.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Travel Vaccines Manufacturer, Travel Vaccines Suppliers/Distributors, Raw Material Suppliers, Pharmaceutical Industry, Potential Investors and Research and Development Firm