Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Vector Control Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The vector control market size has grown strongly in recent years. It will grow from $19.21 in 2023 to $20.66 in 2024 at a compound annual growth rate (CAGR) of 7.5%. The vector control market size is expected to see strong growth in the next few years. It will grow to $28.09 in 2028 at a compound annual growth rate (CAGR) of 8.0%.
The anticipated growth in the forecast period can be linked to global health initiatives, a rising reliance on genetic control methods, efforts in capacity building and training, the increasing adoption of a one-health approach, and the trends of urbanization and infrastructure development. Key trends projected in the forecast period encompass integrated pest management (IPM), innovative vector surveillance, the integration of mobile and telehealth solutions, cross-sector collaborations, and the implementation of community-based approaches.
The upward trend in vector-based diseases is expected to drive the vector control market, with the impact of climate change and changing geographical patterns influencing the transmission and spread of such diseases. The surge in vector-borne illnesses has prompted the adoption of vector control methods, including the removal of water-holding containers and the implementation of pest control measures.
For instance, in October 2023, the European Centre for Disease Prevention and Control (ECDC) reported over 4.2 million cases and 3,000 dengue-related deaths globally from 79 countries or territories. This underscores the role of the rising prevalence of vector-based diseases in propelling the growth of the vector control market.
The vector control market is anticipated to witness growth due to increasing investments in research and development (R&D). Investment in R&D involves spending money on activities aimed at creating new knowledge or enhancing existing knowledge. Such investments contribute to the development of innovative vector control products and solutions, including insecticides, repellents, and traps, as well as novel vector control strategies like integrated vector management (IVM). For instance, the Australian healthcare sector saw an increase in business expenditure on research and development, reaching $2,871 million in 2021-22, compared to $1,664 million in 2019-20. The boost in R&D investments is a key factor driving the growth of the vector control market.
Technological advancements represent a significant trend in the vector control market, with companies focusing on developing innovative products to meet the rapidly growing industry demands. An example is Vectorcide International Ltd., a UK-based manufacturer, launching Vectorcide RP2 Coating, an eco-friendly mosquito repellent with unique features. The coating's advanced mechanism releases active ingredients continuously over time, offering an effective indoor treatment against mosquitoes.
Major companies in the vector control market are leveraging strategic partnerships and collaborations to launch initiatives aimed at controlling vector-borne diseases.
Major companies operating in the vector control market include
- Anticimex International AB
- Arrow Exterminators Inc.
- Badische Anilin- und Sodafabrik
- Bayer AG
- Bell Laboratories Inc.
- Syngenta AG
- Rentokil Initial plc
- Food Machinery Corporation Global Solutions
- Ecolab Inc.
- Rollins Inc.
- Terminix International Co LP
- Massey Services Inc.
- Ensystex Inc.
- Yem Chio Co Ltd.
- Sekisui Chemical Co Ltd.
- Lohmann GmbH & Co. Kg
- Guangzhou Broadya Adhesive Products Co Ltd.
- Scapa Group plc
- The National Leader in Mosquito Control
- Adchem Corp
- Adhesive Applications Inc.
- Adhesives Research Inc.
- Advanced Flexible Composites Inc.
- Adhesive Systems Inc.
- American Biltrite Inc.
- Arkema Group
- Ashland Inc.
- Bostik Findley SA
- Collano Adhesives AG
Key Topics Covered:
1. Executive Summary
2. Vector Control Market Characteristics
3. Vector Control Market Trends And Strategies
4. Vector Control Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Vector Control Market Size and Growth
5.1. Global Vector Control Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Vector Control Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Vector Control Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Vector Control Market Segmentation
6.1. Global Vector Control Market, Segmentation By Method of Control, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Chemical
- Physical and Mechanical
- Biological
- Other Method Of Control
6.2. Global Vector Control Market, Segmentation By Vector Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Insects
- Rodents
- Other Vector Types
6.3. Global Vector Control Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Residential
- Commercial
- Industrial
7. Vector Control Market Regional And Country Analysis
7.1. Global Vector Control Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Vector Control Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/u9mk6g
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
