Global Travel Vaccine Market - Safety to Travel All Around: Infinium Global Research

Nearly 940 million international journeys were undertaken in 2010 and the number is growing since then. Global travel at this scale can exposes many travelers to a range of health risks. A recent report published by Infinium Global Research on "Global Travel Vaccine Market (Composition - Mono Vaccine, and Combination Vaccines; Type - Attenuated Vaccines, Inactive Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, DNA Vaccines, and Recombinant Vector Vaccines; Disease Type - Hepatitis A, Hepatitis B, Typhoid and Paratyphoid Fever, Meningococcal Disease, Yellow Fever, Rabies, Japanese Encephalitis and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". Estimates that the market is projected to expand with a CAGR of 9.2% over the period of 2019 to 2025 and would be worth USD 12.6 Billion by 2025. The report also provides a comprehensive outline of the factors responsible for the growth of the market.

Travel for holidays, recreation and leisure accounts about half of all international tourist arrivals. On the global scale every region possesses different climatic conditions, food habitat, and pollution level which are some of the risks which can lead to ill-health of the travels.

The Enormous Rise in the Number of Tourists Augments the Growth of the Market.

The stats provided by World Tourism Organization states that international tourist arrivals worldwide in 2010 for business, leisure, and other purposes amounted to 940 million. 15% of all international tourists reported traveling for business and professional purposes and another 27% traveled for specific purposes, such as visiting for religious reasons and pilgrimages, friends and relatives (VFR), health treatment, etc. Furthermore, the number of international arrivals is expected to reach 1.7 billion by 2022.

These travelers can encounter sudden and significant changes in altitude, humidity, temperature, and exposure to a variety of infectious diseases, which can result in severe illness. Besides, serious health risks may arise in areas where medical services are not well developed, clean water is not available, accommodation is of poor quality and hygiene and sanitation are inadequate. These factors have resulted in the uptake of the measures to get the prevention from infectious disease which in turn is supporting the growth of the travel vaccine market.

Strict Regulation by Many Government Bodies Likely to Boost the Travel Vaccine Demand. 

Many government organizations have to meditate travel vaccines for travelers coming from abroad. Government health organizations in the United States such as the Centers for Disease Control and Prevention (CDC) and National Health Service, U.S.A. (NHS) is keeping track of the infectious diseases spreading by an international tourist. The increase in tourism in a developing region especially countries in APAC where health risk is higher, has led to the increase in travel vaccination. Severe viral disease outbreaks like flu Coronavirus disease, Ebola Hemorrhagic Fever (EHF) and Swine Influenza (flu) has made government organizations in this region emphasize on all the preventive measures for the travelers before traveling to the other region or country. 

High Prices of The Vaccines Can Hinder the Growth of the Market 

On a global level pricing of travel, a vaccine has a significant impact on new vaccine adoption. The reason for the high prices of vaccines is either culminate or thwart years of research and development and public health efforts. Moreover, the prices are mainly influenced by conducting target population analysis, mapping of potential competitors and alternatives, construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines and quantify the incremental value of the new vaccine's characteristics all these factors contribute to a great expense to the manufacturers which result in high cost of the vaccine in the market.

Growing Research Activities to The Development of New Travel Vaccines Provide a Better Opportunity for Market Expansion

The growth of the world travel vaccine market is directly proportional to the rise in the number of international tourists and the number of international arrivals is expected to reach 1.7 billion by 2022. Considering the future demand Major Pharma and biotech companies are engaged in research activities for developing new travel vaccines. Most of the companies are focusing to develop travel vaccines for region-specific diseases. As the world is moving towards free trade and globalization, the number of international tourists is expected to increase in the future period, However, the government organizations are supporting the vaccine manufacturers to speed up the development of the vaccines.

Combination Vaccines Are Expected to Register Higher CAGR in the Forecast Period

Based on composition, the sub-markets include mono vaccines and combination vaccines. Based on type, the sub-markets include attenuated vaccines, inactive vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, DNA vaccines, and recombinant vector vaccines. Based on disease type, the sub-markets include hepatitis A, hepatitis B, typhoid, and paratyphoid fever, meningococcal disease, yellow fever, rabies, Japanese encephalitis, and others.

Asia Pacific the Region is Expected to Dominate the Market in the Forecast Period

North America is dominating the travel vaccine market due to good reimbursement policies and a large number of key players in this region. The European travel vaccine market expects to boost owing to raising awareness of the diseases among the population as well as research on the development of disease-specific vaccines. Asia Pacific market will surge during the forecast period because of rising funds and an increase in the number of people traveling abroad for studies, careers, medical care, etc.

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