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 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
West Nile virus disease is caused by infection with the West Nile virus. Most people infected with West Nile virus do not develop any symptoms. However, about 1 in 5 people who are infected develop a fever with other symptoms such as headache, body aches, joint pains, vomiting, diarrhea, or rash. Most people with this milder form of West Nile fever recover completely, but fatigue and weakness can last for weeks or months.
Market key trends:
One of the key trends in the West Nile virus market is the rise in drug repurposing and development of therapeutics targeting various stages of viral infection cycle. Researchers are repurposing existing drugs approved for other viral infections and testing their effectiveness against West Nile virus. Some of the drugs being repurposed for West Nile virus treatment include niclosamide, which is an antiparasitic drug approved for tapeworm infections.
Segment Analysis
The global West Nile Virus market is segmented into therapeutics and vaccines. Among these, the therapeutics segment holds the largest market share owing to the higher usage of treatment drugs such as alpha interferon and oxymatrine as compared to prophylactic vaccines. The therapeutics segment is further classified into supportive care, immunotherapy and others. Supportive care dominated the therapeutics segment in 2022 due to rising adoption of symptomatic treatments like fluids, rest, antipyretic medications and acetaminophen to reduce fever caused by West Nile virus infection.
Key Takeaways
The Global West Nile Virus Market Size is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing incidences of West Nile virus infections globally, mainly in North America. The market size for 2023 is US$ 634.8 Mn.
Regional analysis North America dominates the global West Nile virus market and is expected to retain its dominance over the forecast period. This is attributed to growing West Nile virus infection cases in countries like the US.
Key players operating in the West Nile Virus market are Sanofi, Pfizer, GlaxoSmithKline, Merck, AstraZeneca, Johnson & Johnson, F. Hoffmann-La Roche, Novartis, Cipla, Gilead Sciences. Sanofi and Pfizer collectively account for over 50% share of the global market due to their diversified therapy portfolios for West Nile virus treatment.
Read More: https://www.ukwebwire.com/west-nile-virus-market-size-share-and-growth-forecast-2023-2023/
Comments
0 comment