LONDON--(BUSINESS WIRE)--The global travel vaccines market is expected to grow at a CAGR of around 7% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global travel vaccines market for 2016-2020. Based on disease type, the market is classified into the following segments: meningococcal vaccines, hepatitis B vaccines, hepatitis A vaccines, and others (which include vaccines of Japanese encephalitis, rabies, typhoid, yellow fever, and measles).
As the world continues to move toward globalization, the international travels will keep increasing. This fuels the demand for travel vaccines as the prevalence of infectious diseases are specifically region prone, unlike that of other indications. As vaccines are largely used as a preventive measure against these known infectious diseases, the travelers are advised to follow the region-specific immunization plan.
Technavio’s research study segments the global travel vaccines market into the following regions:
- Americas
- EMEA
- APAC
Americas: largest travel vaccines market
In 2015, the Americas dominated the global travel vaccines market with a share of over 64%. The US was the largest revenue contributor in the region, capturing a significant portion of the global market. The demand for vaccine that cater to the unmet medical needs provides an opportunity for vendors to develop new safe and efficient molecules.
The travel vaccines market in the Americas is growing at a moderate rate, but slower than EMEA and APAC. The market is flourishing in this region mainly due to well-structured reimbursement plans.
Pan American Health Organization and WHO recommend vaccination against rubella measles virus for all travelers visiting countries in the Americas to avoid the risk the of reinstating these diseases.
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Travel vaccines market in EMEA
The travel vaccines market in EMEA is growing at a moderate pace, but slower than APAC. The increase in the number of vaccines and growing awareness regarding the diseases are major factors contributing to the growth of the market in this region.
In 2011, 33 countries in Europe reported approximately 6,500 measles cases. Research and genotyping have confirmed transmission of this measles virus among various countries in Europe to the Americas.
Travel raises the risk of exposure to the virus and its spread into healthy people if not vaccinated. To prevent this, WHO recommended health authorities to advocate for immunization before travel and to provide immunizations through immunization services and health systems based on existing NIPs. WHO recommends two doses of vaccine for all children and at least one dose before international travel for adults and adolescents who are uncertain about their immunity status.
Travel vaccines market in APAC
The travel vaccines market in APAC will witness a high growth rate during the forecast period due to poor hygienic conditions and widespread incidence of infectious diseases.
Countries like India is becoming more popular for overseas travelers and flow of travelers from the other regions are growing. Along with business travelers, the inbound travel industry in the country is witnessing a growing interest from medical and leisure travelers as well.
Travel vaccines in APAC was valued at USD 249.0 million in 2015 and will likely reach USD 382 million by 2020, growing at a CAGR of close to 9%.
The top vendors in the global travel vaccines market highlighted in the report are:
- GlaxoSmithKline
- Merck
- Pfizer
- Sanofi
Browse Related Reports:
- Global Meningococcal Vaccines Market 2016-2020
- Global H1N1 Vaccines Market 2016-2020
- Global Human Vaccine Market 2016-2020
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