The mosquito borne disease market is estimated to be valued at US$ 3.11 Bn or Mn 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 viruses, parasites, and bacteria transmitted by infected female mosquitoes. Some of the most common mosquito borne diseases include malaria, dengue, chikungunya, yellow fever, Zika virus, and West Nile virus. Malaria is one of the most widespread mosquito borne disease, mainly found in tropical regions around the equator. Prevention and treatment of mosquito borne diseases are a major public health challenge globally due to lack of effective vaccines for many such diseases, emergence of drug resistance, and difficulty in mosquito control.
Market Dynamics:
Growing prevalence of mosquito borne diseases globally due to factors such as increasing global temperatures, changing rainfall patterns, population growth and increased travel is expected to drive significant market growth over the forecast period. According to the World Health Organization (WHO), malaria cases were estimated at 229 million in 2019 and there were about 409,000 deaths from malaria globally. Another key driver is rising demand for advanced treatment options and innovations in vaccines for mosquito borne diseases with high unmet needs such as dengue, chikungunya and Zika virus infections. However, factors such as high costs associated with R&D of novel drugs and vaccines along with difficulty in mosquito control measures in certain regions pose a challenge to market growth.
Segment Analysis
The global mosquito borne disease market is dominated by the Dengue fever segment, accounting for nearly 30% of the overall market share. Dengue fever affects around 390 million people annually and is spread by the Aedes mosquitoes, making it highly prevalent in tropical and subtropical regions globally. The disease causes severe flu-like illnesses and, in some cases, may turn fatal due to dengue hemorrhagic fever or dengue shock syndrome. This makes dengue fever a majorly dominating sub segment in the market.
PEST Analysis
Political: Government initiatives and awareness programs to curb mosquito breeding have helped control the spread of diseases. However, lack of sanitation in many parts continues to allow mosquitoes to thrive.
Economic: Rise in disposable income allows people to afford treatment. However, diseases like malaria vastly affect productivity and economy of underdeveloped countries.
Social: Changing demographic patterns and migration have resulted in the spread of mosquito borne diseases to newer regions. Lack of awareness in rural areas also impacts disease prevalence.
Technological: New vaccines, rapid diagnosis kits, and mosquito control insecticides help tackle diseases better. However, resistance to drugs and insecticides poses a challenge.
Key Takeaways
The Global Mosquito Borne Disease Market Size is expected to witness high growth of 7.3% over the forecast period, driven by rising disease incidence primarily across tropical and subtropical countries. The market size is estimated to reach US$5.37 Bn by 2030.
Regional analysis
Asia Pacific accounts for the major share of over 50% of the global market for mosquito borne diseases due to the high population density and hot climates that facilitate mosquito growth. Countries like India, Philippines and Indonesia report heavy malaria and dengue caseloads annually, making the Asia Pacific region the dominant as well as the fastest growing market.
Key players
Key players operating in the mosquito borne disease market include 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. These players are focused on developing advanced diagnostics, vaccines and drugs for alleviating the global burden of mosquito borne diseases.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
