The West Nile Virus Market is Projected to driven by increasing disease prevalence

The West Nile Virus Market is Projected to driven by increasing disease prevalence

 The West Nile virus (WNV) is a mosquito-borne flavivirus that commonly infects birds but can also affect humans, horses, and other mammals. While most human WNV infections are asymptomatic, initial symptoms like fever, headache, body aches, nausea, vomiting, and sometimes swollen lymph glands or a skin rash may occur. In rare cases, severe illness including meningitis or encephalitis can develop. The rising prevalence of the West Nile virus disease globally has increased the adoption of preventive measures like vaccines and repellents. Several vaccines have been developed for controlling the spread of the virus in horses, which act as amplifying hosts, as their vaccination limits the reservoir of infection.

The global West Nile Virus Market is estimated to be valued at US$ 634.8 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
While there is no specific treatment available for WNV infection in humans, symptomatic and supportive therapy is given to help relieve symptoms. Various pharmaceutical companies and research institutes are conducting clinical trials for antiviral drugs and vaccines. For instance, Iowa-based company Ridgeback Biotherapeutics has developed an antiviral drug called RBV-383 for treatment of WNV infection. If approved, it can potentially help reduce symptoms and duration of illness. Additionally, the National Institute of Allergy and Infectious Diseases is sponsoring clinical trials of candidate WNV vaccines to evaluate their safety and efficacy in humans. Such initiatives are expected to boost the West Nile Virus market growth over the forecast period.

Porter's Analysis

Threat of new entrants: Low barriers to entry due to availability of resources but established brands have economies of scale and customer loyalty advantage.

Bargaining power of buyers: Moderate bargaining power due to availability of substitutes but differentiated products give buyers less influence.

Bargaining power of suppliers: High bargaining power of raw material suppliers due to specialized inputs and brands dependent on consistent supply.

Threat of new substitutes: Low threat as West Nile virus diagnostics and therapeutics have no close substitutes but alternative preventive measures can impact market.

Competitive rivalry: High rivalry among existing vendors to gain more market share through product differentiation, customer service, and marketing.


Key Takeaways

The Global West Nile Virus Market Size is expected to witness high growth. The global West Nile Virus Market is estimated to be valued at US$ 634.8 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030.

North America currently dominates the market owing to high prevalence of viral infections and rising awareness. Factors such as growing geriatric population susceptible to viral infections and technological advancements in diagnostics will support market expansion in the region over the forecast period. The Asia Pacific region is expected to witness fastest growth aided by increasing healthcare expenditures, rising awareness, and improving diagnostic infrastructure across countries. Raising awareness about viral infections like West Nile and availability of advanced treatment options will further drive the market in Asia Pacific.

Key players operating in the West Nile Virus market are Aptar Group, Inc., RPC Group Plc, Gerresheimer AG, Amcor Limited, Albea S.A., Libo Cosmetics Company, Ltd, Quadpack Industries, HCP Packaging, Fusion Packaging, and ABC Packaging Ltd. Players are investing in new product launches and focusing on partnerships for sustained market share.

For more Insights, Read –

https://www.marketwebjournal.com/west-nile-virus-market-size-market-share-analysis/