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Vector Control Market 2024: Key Trends, Demand, and Growth Insights
Vector Control Market 2024
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According to The Business Research Company's, The vector control market size has grown strongly in recent years. It will grow from $19.21 billion in 2023 to $20.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to urbanization and population growth, disease control programs, environmental concerns, emerging infectious diseases, increased use of biological control agents..
The vector control market size is expected to see strong growth in the next few years. It will grow to $28.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to global health initiatives, increasing use of genetic control methods, capacity building and training, the growing adoption of one health approach, urbanization and infrastructure development.. Major trends in the forecast period include integrated pest management (ipm), innovative vector surveillance, mobile and telehealth solutions, cross-sector collaborations, community-based approaches..
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Market Drivers and Trends:
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 October 2023, according to the European Centre for Disease Prevention and Control (ECDC), a Sweden-based agency of the European Union, over 4.2 million cases and over 3,000 dengue-related deaths have been reported from 79 countries or territories globally. 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.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Vector Control Market 2024 Key Insights:
• The vector control market size is expected to see strong growth in the next few years. It will grow to $28.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Growing Prevalence Of Vector-Borne Diseases Fuels Vector Control Market
• Technological Advancements Drive Vector Control Market Innovation
• North America was the largest region in the vector control market share in 2023
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