by The West Nile virus is a disease transmitted through mosquito bites, primarily of members of the Culex genus. The virus causes West Nile fever, a mild febrile illness, and in some cases, developed into fatal West Nile encephalitis or meningitis. Several pharmaceutical companies are developing vaccines and therapeutics to treat West Nile virus infections. Traditionally diagnosis involved mosquito trapping, mosquito testing for virus, and blood tests of suspect patients. Currently, there are new rapid diagnostic kits which can provide results within 30 minutes. Treatments include rest, fluids intake, and occasionally hospitalization is needed for the support of patients with severe disease.
The global West Nile Virus Market is estimated to be valued at US$ 634.8 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising incidences of mosquito-borne diseases like West Nile virus have generated needs for effective diagnostics and treatments. As per the Centers for Disease Control and Prevention, the total number of West Nile virus disease cases reported to CDC in the U.S. has increased from 96 cases in 1999 to over 2,000 cases annually in recent years. This high prevalence of the disease has driven research related to advanced vaccines and new rapid diagnostic kits which have helped to identify infected patients quickly and provide timely treatment. Development of newer preventive vaccines against WNV infection will provide opportunities to curb disease spread especially in endemic regions. Pharmaceutical companies are investing to develop low-cost and easily accessible vaccination for communities living in tropical and subtropical regions where WNV infection risk is high.
Segment Analysis
The global west Nile virus market is segmented into therapeutics, diagnostics and vaccines. The therapeutics segment is dominating currently due to increasing cases of the disease. The segment holds around 58% of the total market share on the back of growing demand for antiviral drugs such as Gilead’s AmBisome to treat severe cases of West Nile virus infection.
PEST Analysis
Political: Governments across regions are increasing funding for R&D activities to develop advanced treatment options for West Nile virus. Regulations have also been implemented to control mosquito population.
Economic: Growing healthcare expenditure and rising affluence is boosting the demand for advanced treatment and diagnostic procedures for West Nile virus. The economic burden of the disease is also driving market growth.
Social: Increasing awareness regarding vector-borne diseases and their treatment options through health campaigns are positively impacting the market.
Technological: Advancements in diagnosis techniques such as ELISA, PCR, and diagnostic imaging are improving detection capabilities. Development of recombinant vaccines and monoclonal antibodies are expanding therapeutic options.
Key Takeaways
Global West Nile Virus Market Size is expected to witness high growth in the coming years. North America currently dominates the market due to growing incidence of West Nile virus infections in the region. As per CDC reports, the United States reported over 2000 cases of West Nile virus in 2021.
Key players operating in the west Nile virus market are Sanofi, Pfizer, GlaxoSmithKline, Merck, AstraZeneca, Johnson & Johnson, F. Hoffmann-La Roche, Novartis, Cipla, Gilead Sciences.
Key players are focusing on developing advanced treatment therapies. For instance, in 2021 Pfizer received FDA approval for Rintatolimod, a toll-like receptor 3 agonist, for the treatment of adult patients with moderate-severe West Nile virus infection.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
