Independent Contractor Model for Tourism: Highlights and Overview

The travel and tourism industry is basking with new ideas and innovations. The global travel industry is skyrocketing and changing its dimension with every passing day. The new era of the travel industry is packed with new technologies and a new army of travellers who dare to challenge the set rules of travelling. Travel insurance, better air traffic and mushrooming travel agencies which lure their customers with a host of new and tailor-made tour packages are fast changing the face of the travel and hospitality industry. Travel agencies play a pivotal role in the evolution of the travel and tourism industry.

The meteoric rise of travel agents has fuelled the growth of the travel industry and made travel easy for millions of travellers around the globe. Travel agents are adapting to the changing climate of the industry and rolling out new ways to provide best possible deals to their customers. The emergence of the Independent Contractors model in tourism is one such model that has become extremely successful for travel agencies. The independent contractor model for tourism not only creates an affordable tourism structure; it also increases the market footprint of an organisation. Travel agencies around the world are changing their way of functioning to increase their customer outreach and to build a new way of functioning through these independent contractors.

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Independent contractors are setting a new trend in the travel industry that is also controlling the rocketing expenses of travel. The new breed of independent contractors are reducing the recurring cost of the brick and mortar travel agencies by slashing the soaring manpower. The surging unemployment around the globe and a steadily growing travel industry is complimenting the growth of independent contractors. Independent contractors are earning their popularity amongst travel agencies because of their affordability and independent way of functioning and they are providing the agencies with the ease of doing business. Massive work pressure and the fright of losing a job is haunting millions of people around the world. Several developing economies are plagued by market meltdown. In the recent years, several people have opted out for a freelance career to balance life and career. This new tendency amongst the working middle-class population of the globe is paving the way for the growth of the independent contractor model. This model has not only complimented the development of tour agencies by creating a lucrative business channel but has also opened a new window of communication with customers. Independent contractors fetch the tax benefits for the agencies and also dip overall expense of the agency which they further use to knit lucrative offers for their target consumers. Most of the travel agencies hire independent contractors for a specific tourism project. This helps the travel agencies to extract maximum profits from a particular project and increase the customer base during a certain period of time. However, the swell in the population of independent contractors around the world is also creating new hurdles for travel agencies, as independent contractors are now demanding a secured job and long term association with the travel agency they deal with.

Independent Contractor Model for Tourism: Game Changers

The independent contractor model of tourism is a true game changer for the travel industry. Presently the independent contractor model for tourism has successfully curated a new and consistent ecosystem within the travel industry. The entire travel industry is immensely benefitted by this new emerging trend. The growing and competitive tourism industry is in dire need of skilled manpower and at the same time, they need to keep their expenses in control. Independent contractors are providing an amicable solution to this problem. The rising risk of economic meltdown is pushing more people towards freelancing. This new bent is extremely beneficial for the development of the independent contractor model of tourism.

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Independent Contractor Model for Tourism: Restraints

The stringent tax reforms in many countries and demands for better job benefits by independent contractors is restricting the growth of the independent contractor model of tourism.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

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Title:
Membrane Chemical Market Expected to Account for US$ 5,572.8 Mn by 2020
Radiopharmaceuticals Market Will hit at a CAGR of 5.9% by 2016 to 2026
Radiopharmaceuticals Market expected to grow at a CAGR of 5.9% during 2016 to 2026
Radiopharmaceuticals Market to Grow at a CAGR of 5.9% through 2026
Renewable Methanol Market by Primary Source: Biomass, Municipal Waste, Industrial Waste and Others
Hypercalcemia Treatment Market by End-use Application: Formaldehyde, MTBE, Gasoline, Dimethyl Ether and Solvents
Radiopharmaceuticals Market Poised to Rake US$ 8,500 million by 2026
Valuation of Radiopharmaceuticals Market to reach US$ 8,500 million by 2026
Radiopharmaceuticals Market Revenue is expected to US$ 8,500 million by 2026
Summary:
Future Market Insights has announced the addition of the “Radiopharmaceuticals Market: Global Industry Analysis and Opportunity Assessment, 2016–2026" report to their offering.
Radiopharmaceuticals Market, Radiopharmaceuticals, Radiopharmaceuticals Market sales, Radiopharmaceuticals Market size, Radiopharmaceuticals Market Forecast, U.K Radiopharmaceuticals Market, U.S Radiopharmaceuticals Market, India Radiopharmaceuticals Market.

North America is anticipated to be the most attractive regional market in the global radiopharmaceuticals market
North America accounted for more than 40% market share in the global radiopharmaceuticals market in 2016 and is expected to witness an increase of more than 100 BPS in its market share over the forecast period. In terms of Y-o-Y growth, North America dominated the global radiopharmaceuticals market and was valued at more than US$ 2,000 Mn in 2015. The market is expected to expand at 6.2% CAGR over the projected period to reach more than US$ 4,000 Mn by the end of 2026. The North America radiopharmaceuticals market is estimated to represent absolute $ opportunity of more than US$ 100 Mn in 2017 over 2016. The growth is stagnant and slow due to major reactors having been shut down in Canada and new reactors installed in place of old ones for better production of radioisotope. North America is expected to be the most lucrative market in the global radiopharmaceuticals market, recording an attractiveness index of 3.6.
Significant growth in the number of cancer and cardiovascular diseases patients in North America is expected to boost the global radiopharmaceuticals market
Widespread availability of SPECT and PET scanning machines will result in a growing number of radio diagnostic and radio therapeutics events in North America. For instance, the number of PET scanning machines installed per head of population in North America are more compared to that installed in Europe, thus leading to increased usage of radiotracers in the region. This growth in North America is expected to continue along with continuous technological improvements in PET scanning devices. The high level of awareness and accessibility to these machines is expected to account for high revenue generation in North America. This factor is boosting the overall growth of the global radiopharmaceuticals market. The other factor impacting the global radiopharmaceuticals market is the rising prevalence of cancer in North America. This has significantly increased the number of nuclear medicine procedures performed in the region and this is the precise reason that the market for radiopharmaceuticals is steadily growing in North America. There has been a rising number of cardiovascular diseases among the people in North America due to aging population, unhealthy food habits and rising obesity. The increasing number of cardiovascular patients is expected to boost the sales of radiopharmaceuticals, which would eventually create growth in the global radiopharmaceuticals market.
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Gallium-68 and Lutetium 177 sub-segments of the radioisotope segment are likely to dominate the North America radiopharmaceuticals market
Gallium-68 and Lutetium 177 are dominant sub-segments of the radioisotope segment in North America. Gallium-68 has gained immense popularity since the last one year in the field of nuclear medicine, especially in the diagnosis and evaluation of prostate cancer. This is in heavy reliance with incorporation of several technological leaps and entry of new radiotracer- 68Ga-PSMA-11, developed by the University of Heidelberg. Additionally, marketing authorisation of the first 68Ge/68Ga generator, manufactured by the German company Eckert & Ziegler, has also positively impacted the penetration of 68Ga-PSMA-11 tracer in the treatment of prostate cancer in North America. Despite a shorter half-life, Gallium-68 has an ideal profile as a PET imaging agent. Several manufacturers in North America are focussing on introducing cold kits for the 68Ga-labeling of tracers (ANMI, Belgium), thus opening the gateways for 68Ga in PET scanning. Iodine-131, a therapeutic radiotracer continues to be the ideal tracer for the treatment of not only thyroid cancer but also other therapeutic indications. However it is being slowly replaced by Lutetium-177 (Lu-177) in North America. Lu-177, low-energy β-particle emitter is identified to be one of the emerging radiotracers for the treatment of metastatic castrate-resistant prostate cancer (mCRPC) and neuroendocrine tumors.
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Market share of companies operating in the global radiopharmaceuticals market
The global radiopharmaceuticals market is highly consolidated with a few companies that offer advanced technology systems and nuclear medicines for treating diseases. However, the global market is dominated by top five players accounting for over 89% share. Siemens Healthineers accounted for the largest share of around 41.2% of the global market in 2015. The company dominated the market owing to its diversified product portfolio, extensive geographical presence, and acquisition strategies. GE Healthcare accounted for the second largest share of around 30.1% and Mallinckrodt plc. accounted for the third largest share of around 9% in the global radiopharmaceuticals market.
Browse Full Report Radiopharmaceuticals Market Segmentation by Radioisotope – Technetium-99, Fluorine-18, Iodine-131, Leutetium-177, Yttrium-90, Gallium-68, Gallium-67, Rubidium-82, Iodine-123, Iodine-125, Indium-111; By Source – Cyclotrons, Nuclear Reactors; By Application – Oncology, Cardiology, Gastroenterology, Neuroendocrinology, Neurology, Nephrology; By End User – Hospitals, Diagnostic Imaging Centres, Ambulatory Surgical Centres, Cancer Research Institutes: http://www.futuremarketinsights.com/reports/radiopharmaceuticals-market
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