Mosquito Borne Disease Market Is Estimated To Witness High Growth Owing To increasing Government Initiatives For Prevention And Treatment Of Mosquito Borne Diseases

The mosquito borne disease market is estimated to be valued at US$ 3.11 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The mosquito borne diseases market includes diseases such as dengue, malaria, Zika virus, chikungunya and yellow fever that are transmitted by the bite of infected female mosquitoes. Symptoms can range from fever, body ache to more severe symptoms such as hemorrhage and neurological complications. Growing investments in preventive measures such as mosquito control programs and development of drugs and vaccines are majorly driving the market.

Market Dynamics:
Increasing government initiatives for prevention and treatment of mosquito borne diseases is a major factor driving growth of this market. For instance, in 2019, the Indian Government launched the National Framework for Malaria Elimination in India which aims to eliminate malaria from the country by 2030. Additionally, launch of novel drugs and vaccines for prevention and treatment of diseases like dengue, Zika and chikungunya is also expected to support market growth over the forecast period. For example, recently Takeda Pharmaceutical Company received approval for its dengue vaccine, QDENGA, in countries like Brazil, Philippines and Mexico. Furthermore, rising incidence of mosquito borne diseases globally due to factors like climate change, migration and poor sanitation is also boosting demand for therapeutic and preventive options.

SWOT Analysis
Strength: 1.The rising regulatory support and funding for mosquito-borne disease prevention programs and research activities. 2. Increasing prevalence of mosquito-borne diseases like dengue, chikungunya, and Zika virus infection globally. 3. Rapid development of new vaccines and drugs for better prevention and treatment.

Weakness: 1. Difficulties in ensuring proper implementation of mosquito control and prevention strategies. 2. Relatively low awareness about mosquito-borne diseases in some regions.

Opportunity: 1. Growing collaborations between government organizations, NGOs, and private players to control mosquito population and reduce transmission. 2. Emergence of new technologies like genetically modified mosquitoes for integrated vector management programs.

Threats: 1. Development of insecticide resistance in mosquito populations challenging disease control. 2. Climate change leading to changes in the geographical distribution of mosquitoes and disease transmission dynamics.

Key Takeaways
The Global Mosquito Borne Disease Market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing prevalence of mosquito-borne diseases globally. The market size for 2023 is estimated to reach US$ 3.11 Bn.

Regional analysis: Asia Pacific dominates the global market and is estimated to grow at the highest CAGR during the forecast period. This is attributed to rising cases of mosquito-borne diseases like dengue and chikungunya in highly populated countries like India and Indonesia. Latin America is another prominent regional market, fueled by the increasing prevalence of Zika virus infection in Brazil and other countries.

Key players: Key players operating in the mosquito borne disease market are GlaxoSmithKline plc, Sanofi S.A., Pfizer Inc., Merck & Co. Inc., Novartis AG, Johnson & Johnson, Eisai Co. Ltd, Takeda Pharmaceuticals, AstraZeneca, Valeant Pharmaceuticals, Mitsubishi Tanabe Pharma, Abbott, F. Hoffmann-La Roche Ltd, Sun Pharmaceutical Industries Ltd, Lupin Pharmaceuticals Inc., BioCryst Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Serum Institute of India Pvt. Ltd., CSL Limited, Teva Pharmaceutical Industries Ltd.

 

Read more: https://www.rapidwebwire.com/mosquito-borne-disease-market-share-demand/

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