Travelers Vaccines Market : Current Trends & Opportunities by 2017 - 2025
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Depend on the types of composition, the traveler’s vaccines are of two types, mono vaccines and combination vaccines. The combination vaccines are the fastest growing segment in traveler’s vaccines as compare to the mono vaccines as they reduces the number of injection required, indicated to treat multiple disease such as diphtheria, tetanus & pertussis, and increase immune compliance. Depends on the type of uses, the vaccines are of following types:
Recombinant vector vaccines
Extreme low risk of serious side effects on fetus and educational & awareness programs through the various government and nonprofit organization are factors that help to boosts the market. Growing preferences for outsourcing of vaccine in the developing and under developed countries open the path to boosts the traveler’s vaccines market. It is expected to grow because of the increase in outbound travel and increase in vaccination coverage due to its awareness. Whereas strict regulatory pathway and high cost associated with new vaccine discovery and development resist the market growth. Addition to it, high cost associate with vaccine transportation, storage, and handling also restrain the market growth.
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Geographically, the U.S. is likely to dominate the human vaccines market in North America. The combination vaccines segment is anticipated to expand at a high base in North America, followed by the attenuated vaccines and recombinant vaccines segments. In terms of product, the meningococcal vaccines segment is poised to expand at a high rate. In Europe, increase in demand for vaccination and increase in research and development expenditure boost the traveler’s vaccines market. Asia Pacific is an emerging market for traveler’s vaccine market due to the developing healthcare infrastructure and rising government expenditures by conducting educational & awareness programs. In Middle East and African countries the development of the healthcare project and economy help to boost traveler’s vaccine market. However, affordability issues and poor patient education are factors restraining the market growth. The Government of Saudi Arabia runs routine vaccination programs for flu, influenza, and other vaccines in the country that create an opportunity in the traveler’s vaccine market.
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Major Key players in the travel vaccine market include GlaxoSmithKline plc, Merck & Co., Inc, Pfizer Inc., and Sanofi S.A.
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