The Travel Medicine Market is expected to grow on a healthy note further. The current scenario is such that virtual monitoring tools are being called for. They act as a precision factor for the healthcare vertical. With the turning out to be more accessible for patients and providers alike, several post-operative intervention options are being made available for preventing hospital re-admittance and complications. With cost-effectiveness rendered as well, the healthcare vertical is expected to take off on a flourishing note going forward.
Travel medicine is the branch of medicines in which an individual is required to take the precautions and are required to take the medications to manage the disease when traveling to other cities or countries. The growing international tourism across the world is considered to be the major key driving factor to increase the growth for travel medicine market.
According to the World Tourism Organization survey, there has been increasing in the population traveling across the world. This survey stated the tourists have increased more than 46 Mn in 2016 from 2015. This factor has increased the necessity of travel medicine and to take pre-travel precautionary care to avoid serious disease or infections.
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The rising globalization trend has vividly increased the traveler’s populations which increases the risk and exposure to other country’s diseases. Hence, travel medicines are highly recommended to those who are traveling to other countries. The travel medicine majorly necessary for immigrants traveling across the globe.
Travel medicines have reduced the risk and have prevented from several diseases and are now considered to be the essential pre-traveling medications and precautions. The travel medicines are recommended to travelers based on the assessment done on the traveler before visiting other countries.
The travel medicine is given based on the region to visit, time duration, type of accommodation, and purpose which are assessed to calculate the risk. However, travel medicine is required to be taken before 2 months because the last minute travel medicine still have a high chance to get affected by the diseases which may hamper the travel medicine market growth.
Malaria is considered to be one of the highly prevalent diseases affecting more than 10,000 individuals each year to the travelers traveling to the endemic countries. Travelers such as pregnant women, breastfeeding mother, immunocompromised patient, and cancer patient are at high risk to get affected, hence, to these patient travel medicine are a compulsory process for them.
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Market Segmentation
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In some American and European countries travelers are required to take compulsory medications and precautions to avoid spreading the disease in the country and to avoid to get affected by the other infections or disease. Travel medicine is very much required when traveling abroad because when the tourist is exposed to the foreign environment the chances to get affected by the different microorganism get reduced.
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Travel medicine helps the traveler’s body to immune itself from the disease which can be present in the country or cities where the tourist is traveling. With the increasing international tourism, awareness regarding travel medicine also increasing.
Many countries are encouraging and upsurging the awareness regarding travel medicine to the general population especially to frequently traveler with increasing country tourism. These factors are expected to boost the growth of travel medicine in the present and forecast years.
North America travel medicine market is expected to be the most prominent market and is an estimate to show high market growth owing to advanced and compulsory traveling guidelines coupled with the presence of a large number of immigrants and populations from other countries due to presence of top universities for multiple fields.
Europe region is expected to be the second most lucrative market for travel medicine because of its scenic beauty and the culture which attracts tourists from all over the world. The travel medicine market in the Asia Pacific region is likely to show high CAGR market growth due to rising international tourism and increasing travelers’ attraction due to existence of a variety of cultural or ethnic groups in the regions.
Some of the key players in the travel medicine market include Sartorius AG, Cevec Pharmaceuticals GmbH, Westburg B.V., Sigma-Aldrich Corporation, and Thermo Fisher Scientific, Charles River Laboratories, Inc., Bharat Biotech International, General Electric Company (GE Healthcare), Merck & Co., Inc., McKinsey & Company and others.
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