The global 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.
Mosquito borne diseases are caused by viruses, parasites, and bacteria transmitted by mosquitoes. Common mosquito borne diseases include malaria, dengue fever, chikungunya, Zika virus, yellow fever and West Nile virus. According to WHO, mosquito borne diseases account for over 17% of all infectious diseases globally. Growing mosquito population, rising temperatures, and uncontrolled urbanization have significantly increased the transmission of these diseases. This has boosted the demand for diagnostics, vaccines, and therapeutics for mosquito borne diseases.
Market key trends:
The key trend in the mosquito borne disease market is the rising incidence of malaria cases globally. According to WHO, there were an estimated 241 million cases of malaria in 2020. The African region accounted for 95% of all malaria cases. Growing temperature and humidity provide ideal conditions for mosquitoes to breed, thereby increasing malaria transmission. Other key trends include the emergence of drug and insecticide resistance in vectors and parasites, urbanization providing more breeding sites for mosquitoes, increased international travels exposing more people to exotic diseases, and focus of governments and international organizations on funding programs for control and elimination of mosquito borne diseases.
Threat of new entrants: Low entry barriers with low capital costs allow new players to enter the market easily. However, established players have built economies of scale and brand recognition which act as deterrents.
Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of alternative treatment options provides buyers with negotiating power. However, proprietary drugs limit substitutability.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate given the availability of alternative raw material suppliers and outsourcing opportunities. Suppliers of active pharmaceutical ingredients are concentrated.
Threat of new substitutes: Threat from new substitutes is moderate as new drugs are developing but require extensive research and approval periods before entering the market. Alternative treatment options such as vaccines also constrain this threat.
Competitive rivalry: Intense as market is dominated by few major players. Strong pipeline of drugs along with M&A activities further intensify competition.
The Global Mosquito Borne Disease Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing investment in R&D of novel drugs by key players.
Regionally, North America is expected to dominate the mosquito borne disease market due to growing burden of such diseases and rapid adoption of advanced treatments. However, Asia Pacific is anticipated to exhibit the fastest growth during the forecast period attributed to rising awareness and improved healthcare expenditures.
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. Major players are focused on expanding their product portfolios through acquisitions and collaborations with biotech companies working on early-stage drug candidates.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it