Vector Control Market Projected to Reach $20.37 Billion by 2023, at a CAGR of 5.13%

The report "Vector Control Market by Vector Type (Insects and Rodents), End-use Sector (Commercial & Industrial and Residential), Method of Control (Chemical, Physical & Mechanical, and Biological), and Region - Global Forecast to 2023", The vector control market is projected to grow at a CAGR of 5.13% from an estimated value of USD 15.86 Billion in 2018, to reach USD 20.37 Billion by 2023. The market is driven by factors such as rising prevalence of vector-borne diseases worldwide, rising awareness for vector control methods by renowned organizations such as the WHO, and the high efficiency of chemical-based vector control products.

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The Increasing population has paved the way to an increase in pressure for the limited resources, which has resulted in overexploitation eventually causing a threat to the environment by chemical poisoning and degradation associated with chemical-based products, thus alternative control methods are under the research phase. Furthermore, regulations on the use of chemical insecticides have become stringent in North American and European countries, owing to the environmental concerns rising from their usage. This has led to opportunities for the growth of biological insect pest control methods. However, there is still significant demand for synthetic insecticides among public health authorities, and pest control service providers as their biological counterparts are environment-friendly but less effective and require repeated usage for optimum results.

Additionally, the market in Asia-Pacific region is expected to diversify from the high-value low-volume commercial sector to the low-value high-volume residential sector due to the increase in the living standards of urban people in countries such as India, China, Brazil, and South Africa. These trends are expected to propel the vector control market during the forecast period.

The chemical-based method of control was observed to be the most preferred method, particularly in the North American region as it is highly effective in eliminating disease-causing harmful pests. Chemicals such as Pyrethroids and Fipronil have been widely used to control and eliminate disease-causing adult mosquitoes and larvae of such harmful mosquitoes. This market has witnessed an increased demand from endemic countries such as Tanzania, Uganda, Mozambique, and certain Asian countries such as India, China, and Indonesia.

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The vector control market has a high potential in emerging markets such as China and India since the climatic conditions and ineffective waste management in the Asia Pacific region are conducive to insect and rodent growth. There is also an increase in the middle-class population, who are aware of vector-borne diseases leading to the growing demand for vector control products for vectors such as mosquitoes and rodents.

This report includes a study of marketing and development strategies, along with the product and/or service portfolios of leading companies. Key companies in the market include vector control product manufacturers and service providers such as Bayer AG (Germany), Syngenta AG (Switzerland), BASF SE (Germany), Bell Laboratories, Inc. (US), Rentokil Initial plc (UK), FMC Corporation (US), Ecolab (US), The Terminix International Company LP (US), Rollins, Inc. (US), Arrow Exterminators, Inc. (US), Massey Services Inc. (US), and Anticimex Group (Sweden).

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