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:
Mosquito borne diseases are caused by pathogens transmitted by infected female mosquitoes such as Dengue, Malaria, Yellow fever, Chikungunya, West Nile virus, Zika virus, Japanese encephalitis etc. Products associated with the mosquito borne disease market are vaccines, drugs and repellents which help in prevention and treatment of these diseases. Vaccines and drugs are used to prevent the infection and provide immunity while repellents help avoid mosquito bites thereby preventing the disease transmission.
Market key trends:
Rapid urbanization is estimated to propel the growth of the mosquito borne disease market. According to the UN, approximately 68% of the global population is projected to live in urban areas by 2050, up from 55% currently. As urbanization intensifies, more people are exposed to the risk of mosquito-borne diseases as rapid growth of cities leads to overcrowding, lack of basic infrastructure and poor sanitation which provides breeding grounds for mosquitos. This rapid expansion of cities without concomitant improvement in public health resources heightens the transmission of vector-borne diseases. Furthermore, the movement of people from rural areas to cities for employment and education increases the potential for the introduction of pathogens into new areas, including urban centers. Therefore, rapid urbanization is expected to significantly drive the growth of the mosquito borne disease market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in this market due to high capital requirements and low differentiation for drugs. Bargaining power of buyers: The bargaining power of buyers is high in this market as there are multiple suppliers for disease prevention and treatment medicine. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of alternative treatment options and pricing pressure. Threat of new substitutes: The threat of new substitutes is high in this market as new technology and alternative treatment options are being developed regularly. Competitive rivalry: High due to presence of many global and regional players.
SWOT Analysis
Strength: Strong R&D capability and large product portfolio of major players. Weakness: High capital requirement and lengthy drug development and approval process. Opportunity: Increasing demand for advanced treatment options and growing disease prevalence in developing nations. Threats: Patent expiration of blockbuster drugs, pricing pressure and stringent regulations.
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.
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