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Technavio analysts forecast the global travel vaccines market to grow at a CAGR of close to 10% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global travel vaccines market for the period 2018-2022. (Graphic: Business Wire)
Increased incidence of travel-related diseases is one of the major trends being witnessed in the global travel vaccines market 2018-2022. Traveling is often associated with higher health risks, especially regarding infectious diseases. The incidence of travel-related diseases such as yellow fever, Japanese encephalitis, Hepatitis A & E, meningitis, typhoid, tetanus, diphtheria, and cholera is increasing worldwide. Therefore, the increase in the incidence of travel-related diseases will lead to more investments in the global travel vaccines market for the development of more effective vaccines and hence, will propel the growth of the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global travel vaccines market is the increase in global travel and migration:
Global travel vaccines market: Increase in global travel and migration
Travel and migration by air, sea, and land have highly expanded globally in the past few years, which has resulted in the spread of pathogens and disease-causing vectors worldwide. Moreover, the growing contact of people with different animals and plants has also resulted in the movement of pathogens from them to people. Recently, Germany reported an increase in communicable diseases after the country granted asylum to two million refugees, mainly from Iraq and Syria. Therefore, the increase in global travel and tourism, as well as migration, offers huge opportunities for the manufactures of vaccines to invest in the R&D of new and more effective vaccines. Hence, this is expected to boost the growth of the global travel vaccines market.
According to a senior analyst at Technavio for research on vaccines, “Apart from the increase in global travel and migration, the global travel vaccines market is expected to be positively influenced by the increase in awareness about vaccine-preventable diseases among travelers and the mandate by countries on vaccinations prior to issuing visas.”
Global travel vaccines market: Segmentation analysis
The global travel vaccines market research report provides market segmentation by target disease for immunization (influenza, diphtheria, hepatitis, typhoid, polio, and yellow fever) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas region held the largest share of the market in 2017, accounting for more than 64% share, followed by EMEA and APAC respectively. Although the APAC held the smallest share of the market in 2017, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Five Forces Analysis
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