Chikungunya Fever Business Trends That Will Drive Success In 2023
The Chikungunya Fever Market is expected to grow at CAGR 5.86% during forecast period.
Top key players for the chikungunya fever market are Quest Diagnostics Incorporated. (U.S.A), Alere. (U.S.A), Genome Diagnostics Pvt. Ltd. (India), altona Diagnostics (Europe), Bio-Rad Laboratories, Inc. (U.S.A), Sanat Products Ltd. (India), Taj Pharmaceuticals Limited. (India), and Etubics Corporation (U.S.A).
Increasing per capita healthcare expenditures, rising R&D investments by the market players, and growing geriatric population are the major factors that will drive the market growth during the forecasted period. Moreover, pouring government investments and favourable policies will fuel the market. However, factors such as lack of awareness and cost of treatment and diagnosis can restrain the market growth during the forecasted period.
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The Chikungunya Fever Market is segmented on the basis of diagnosis, treatment, and end users.
On the basis of diagnosis, the market is segmented into ELISA based assays, serological tests, virological tests, and others. ELISA based assays is future segmented into IgM based ELISA and IgG ELISA.
On the basis of treatment, the market is segmented into allopathy, homeopathy, ayurveda, and others. The allopathy segmented is sub segmented into anti-pyretics, optimal analgesics, and others. The homeopathy segment is sub segmented into pyroginum, rhus-tox, cedron, and others. The ayurveda segment is sub segmented into amrutharista, mahasudarshana churna, dhanvantaram gutika and others.
On the basis of end users, the market is segmented into hospitals and clinics, academic institutes, research laboratories, and others.
The Americas dominate the Chikungunya Fever Market owing to a well-developed healthcare sector. Apart from this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in the Americas. Additionally, increasing geriatric population, rising awareness among the people and expanding R&D expenses for the treatment of chikungunya is boosting the market growth.
Europe holds the second largest market for chikungunya fever, which is followed by Asia Pacific. Availability of funds for research, rising patient population and government support for research & development will drive the market. On 22 September 2017, according to the European Centre for Disease Prevention and Control there were about 102 autochthonous chikungunya cases in Italy. Such trend for chikungunya fever was seen across the region. This is expected to boost the market growth during the forecasted period.
According to the World Health Organisation, the major outbreaks of chikungunya fever are seen in Asia and the Indian subcontinent. This made Asia Pacific the fastest growing region for the market due to the presence of a huge patient population and presence of huge opportunity in the market. Moreover, continuously developing economies like India and China within the region have increasing healthcare expenditures which fuels the market growth. According to the Indian Brand Equity Foundation, per capita healthcare expenditure was estimated to grow at a CAGR of 5 % during 2008-15 and reach USD 68.6 by 2015.
On the other hand, the Middle East & Africa has the least share in the Chikungunya Market due to the presence of poor economy especially in the African region. A majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure.
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Table of Content:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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