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Mosquito borne diseases like malaria, dengue, chikungunya, yellow fever, and zika fever are spreading rapidly due to factors like global warming, unplanned urbanization and increased international travel and trade. Mosquito borne diseases affect both economic and social conditions of individuals as well as countries. The increasing burden of diseases has boosted the demand for effective prevention and treatment solutions in the market.
The global Mosquito Borne Disease Market is estimated to be valued at US$ 3.59 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased prevalence of mosquito borne diseases has boosted the adoption of preventive measures. According to the World Health Organization (WHO), around half of the world's population is at risk of malaria and there were about 241 million new cases of malaria worldwide in 2020. Rising cases of malaria, dengue, chikungunya, and other vector-borne diseases have driven the demand for innovative mosquito control products and services. Market players are focusing on developing advanced mosquito control solutions like mosquito traps, repellents, nets and others to curb the spread of diseases. Furthermore, growing awareness about prevention is expected to drive higher demand for affordable and effective mosquito borne disease prevention and control measures over the forecast period.
Segment Analysis
The global Mosquito Borne Disease market growth is dominated by the diagnostic segment owing to its frequent usage in diagnosis of mosquito borne diseases like malaria, dengue, West Nile, chikungunya etc. This segment held around 60% market share in 2024 primarily due to high demand of diagnostic products like imaging devices, rapid diagnostic tests and others for effective diagnosis. The therapeutic segment is the fastest growing segment and anticipated to witness a CAGR of 8.5% during the forecast period. Increase in prevalence of mosquito borne diseases and development of novel drugs and vaccines are major factor boosting the growth of this segment.
Key Takeaways
The global Mosquito Borne Disease market is expected to witness high growth due to rise in prevalence of mosquito borne diseases like malaria, dengue, chikungunya etc across the world. The global Mosquito Borne Disease Market is estimated to be valued at US$ 3.59 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Regional analysis
Asia Pacific region is anticipated to continue its dominance during the forecast period majorly driven by India, China and other South Asian countries. According to WHO, India accounted for over 70% of total malaria cases reported globally in 2021. Growing healthcare expenditure and increased government initiatives for prevention and treatment of mosquito borne diseases in developing Asian countries will propel the regional market growth.
Key players
Key players operating in the Mosquito Borne Disease market are Masimo, Medtronic Plc, Nihon-Kohden Corporation, GE Healthcare, Koninklijke Philips N.V., Hill-Rom Services, Inc., Smiths Medical, Nonin, MICROTEK, OSI Systems, Inc. Honeywell International Inc., Promed Technology Co.Ltd., Beurer, Contec Medical Systems Co., Ltd., ChoiceMMed, CONMED Corporation, Stryker, Medline Industries, Inc., Curbell Medical Products, Inc., and Ecomed. These players are focusing on new product launches, mergers, collaborations and geographic expansion to increase their market share.
Get more insights on this topic: https://www.ukwebwire.com/mosquito-borne-disease-market-share-and-opportunity-analysis/
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