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Travel Vaccines Market to Reap Excessive Revenues by 2021
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The driving factors for the growth of this market include increase in awareness about vaccine preventable diseases and rise in global travel traffic. Moreover, innovation of novel vaccine technologies and technological advancements towards molecular genetics is further boosting the growth of market in coming years. However, requirement of expertise for the production of vaccines and unfavorable healthcare funding towards vaccination could pose a challenge for the growth this market.
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Geographically, North America will be the leading market for global travel vaccines market, followed by Europe and Asia-Pacific. The major contributing factors for North America to lead the market include involvement of large number of companies in the production of vaccines and introduction of superior range of vaccines in the market. However, Asia-Pacific market is forecast to grow at a significant growth rate in coming years.
The leading players of this market include GlaxoSmithKline, Sanofi Pasteur, Merck, Novartis, and Pfizer. Other key participants of this market include ALK – Abelló A/S, Bavarian Nordic A/S, Crucell N.V., CSL Ltd. Medimmune Inc. and Vaxin Inc.
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