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Vector Control Global Market Report 2023
Major players in the vector control market are Anticimex Group, Arrow Exterminators Inc., BASF SE, Bayer AG, Bell Laboratories Inc., Ecolab Inc., FMC Corporation, Rentokil Initial plc, Rollins Inc., Syngenta AG, The Terminix International Company Lp, Massey Services Inc.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vector Control Global Market Report 2023" - https://www.reportlinker.com/p06325435/?utm_source=GNW
, ADAMA, Liphatech, Inc., PelGar International, and Sumitomo Chemical Co Ltd.
The global vector control market grew from $17.91 billion in 2022 to $19.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The vector control market is expected to grow to $24.64 billion in 2027 at a CAGR of 6.4%.
The vector control market consists of revenues earned by entities by providing vector control methods such as elimination or control of larval habitats and pesticide use to kill larvae.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Vector control refers to a method for controlling vector-borne diseases spread through mammals, birds, insects, or other arthropods.The primary objective of vector control is to stop or eliminate the local spread of the virus, reduce disease vulnerability, and prevent secondary infections.
These vector control methods can be chemical or non-chemical in nature.
North America was the largest region in the vector control market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the vector control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main methods of vector control are chemical, physical and mechanical, biological, and others (radiation and environmental control services).Chemical vector control uses chemicals to control and prevent the spread of diseases.
The chemical vector control is intended to impact mosquito densities, longevity and other transmission parameters. The vector control is designed to eliminate insects, rodents, and others (ticks and snails) and they are applied in residential, commercial, and industrial sectors.
The rising prevalence of vector-based diseases is expected to propel the vector control market.The increasing climate’s impact and geographical distribution affect vector-borne disease transmission and spread.
Due to such growing prevalence of vector-borne diseases has led to the adoption of vector control methods.These methods of preventing vector-based diseases is done by removing or dumping out water-holding containers and applying vector control methods such as pest control.
For instance, In March 2020, according to a report from the World Health Organization, vector-borne diseases caused 700,000 deaths annually and accounted for 17% of all infectious diseases. Therefore, the rising prevalence of vector-based diseases is driving the growth of vector control market.
Technological advancements are a key trend driving the vector control market.The companies operating in the vector control market are increasingly focusing on developing innovative products to meet fast-growing industry demands and expand their business presence across the globe.
For instance, in December 2021, Vectorcide International Ltd., a UK-based manufacturer of products for the reduction of vector-borne diseases, launched Vectorcide RP2 Coating, a green Eco-friendly mosquito repellent. Vectorcide RP2 Coating is a one-of-a-kind, safe, and highly effective indoor treatment. As it dries, the coating seals the capsules within the surface. (There are more than 20 billion capsules per square metre.) Typically, the capsules continue to release their active continuously over time through diffusion, and when the mosquito clings to the VC RP2 Coating treated surface, the insect’s pin-like legs puncture the capsules. The entire insect is covered in several technically advanced ingredients, including the repellent, using the company’s unique release mechanism.
In December 2021, Rentokil Initial plc, UK-based commercial pest control and hygiene service provider, acquired Terminix Global Holdings, Inc. for $6.7 billion. Through this acquisition, Rentokil is focused on expanding the business to provide a solid foundation for future growth in North America and an appealing financial profile to support future growth, including continued investment in innovation and technology. Terminix Global Holdings, Inc is a US-based provider of pest-control solutions including vector control products.
The countries covered in the vector control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The vector control market research report is one of a series of new reports that provides Vector control market statistics, including vector control industry global market size, regional shares, competitors with a vector control market share, detailed vector control market segments, market trends and opportunities, and any further data you may need to thrive in the vector control industry. This vector control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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