Travel vaccines market to be worth $2.2 billion by 2019

The travel vaccines market has been forecast to increase at a compound annual growth rate (CAGR) of 7.5% over the next seven years, increasing from a value of $1,343m in 2012, to hit a market value of $2.22 billion by 2019.

The growth of the travel vaccines market is attributable to an increase in outbound travel and increase in vaccination coverage due to increasing antimicrobial resistance and awareness about vaccine-preventable diseases such as hepatitis A, hepatitis B, rabies, typhoid fever, yellow fever, Japanese encephalitis and meningococcal meningitis.

A strong pipeline in which nearly 30% of Vaccine Candidates are in Phase III and Phase II.The global travel-vaccine pipeline appears very strong, with 18% of candidates in Phase II, 13% in Phase I, 11% in Phase III and 5% registration-filed.

The target population base of the travel vaccines market includes outbound travelers. The vaccines used in the travel vaccines market for the prevention of hepatitis A, hepatitis B, rabies, typhoid fever, yellow fever, Japanese encephalitis and meningococcal meningitis are manufactured by Sanofi Pasteur, Merck, Novartis, GlaxoSmithKline (GSK) and Intercell.

Sanofi Pasteur and GSK are the leading players in the travel vaccines market. They generate 85% of the total travel vaccine revenues. Sanofi Pasteur manufactures vaccines for yellow fever, Japanese encephalitis, typhoid fever, rabies, and meningococcal meningitis therapeutics markets. GSK manufactures vaccines for hepatitis A and hepatitis B therapeutics markets.

Vaccine companies manage their R&D portfolio by balancing investment between novel, innovative targets with the potential to have a major impact on human health; developing best-in-class approaches; and delivering the maximum value of approved vaccines through new indications and formulations. Developing a new vaccine product is a costly, lengthy and uncertain process, and a new candidate can fail at any stage of the development process or fail to receive regulatory approval.

However, vaccines' ability to generate high revenues and profits despite being priced at a premium has proven attractive to existing players in the market and to big pharmaceutical companies, who have been watching development with interest.

For more information on the travel vaccines market, see the latest research: Travel Vaccines Market

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