Travel Vaccines Market to Reach US$ 8.1 Billion By 2024 | CAGR 9%

Global Travel Vaccines Market Research Report and Forecast

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Global Travel Vaccines Market Overview: According to the latest report by IMARC Group, titles “Travel Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global travel vaccines market size reached us4 4.9 Billion in 2018. Travel vaccines are immunization shots that travelers can get before traveling to other parts of the world where there is a high risk of developing certain diseases. These vaccines build immunity against viral and microbial invasions while improving the overall health of the individual. They introduce the disease-causing microbes into the bloodstream to help the human body develop antibodies to fight off the same, if exposed to in the future. These shots must be taken at least 4 to 6 weeks before traveling as this gives enough time for the immunization to start working efficiently.

Travel Vaccines Market Trends Rising occurrence of infections and travel-related diseases such as Japnese encephalitis, diphtheria, meningitis and yellow fever is one of the major factors that are driving the growth of the market. In addition to this, owing to factors such as the rising globalization and reduced international tourism.

Consequently, the sales of travel vaccines have also witnessed a significant rise across the globe.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

For investing, the National Health Service (NHS) is providing several free travel vaccines for diseases such as cholera, polio, typhoid and hepatitis A in the United Kingdom to reduce the risk of these diseases being spread across the country. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.1 billion by 2024, growing at a CAGR of around 9% during 2019-2024.

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Apart from this, several combination vaccines are also available for travelers, which protect against more than one diseases. They are widely gaining popularity amongst the users as they reduce the number of vaccines required. Furthermore, government bodies in several countries are investing in promoting the use of these vaccines.

Market Segmentation: Market Segmentation by Composition • •

Mono Vaccines Combination Vaccines

On the basic of the composition, the market has been bifurcated into mono vaccines and combination vaccines, wherein combination vaccines are the most preferred segment.

Market Segmentation by Diseases • •

Hepatitis A DPT

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Yellow Fever Typhoid Hepatitis B Measles and Mumps Rabies Meningococcal Varicella Japanese Encepthalitis Others

Based on the diseases, the market has been divided into hepatitis A , hepatitis B, Japanese encephalitis, DPT, meningococcal, rabies, typhoid, yellow fever, measles and mumps, varicella, and others. Amongst these, hepatitis A exhibits a clear dominance in the market.

Market Segmentation by Region • • •

North America Europe Asia Pacific

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Latin America Middle East and Africa

On the geographical front, North America holds the leading position in the market, accounting for the majority of the overall market share. The other major regions include Europe, Asia Pacific, Middle East and Africa and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

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GlaxoSmithKline Sanofi Pasteur Merck Novartis Pfizer ALK-Abello Bavarian Nordic

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Crucell N.V CSL Limited Medlmmune, LLC Altimmune Abbott Laboratories F. Hoffman-La Roche Ltd.

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