by West Nile Virus is a disease transmitted through mosquitoes that feeds on infected birds. Symptoms include fever, headache, body ache, nausea and skin rash. In severe cases it can cause neurological complications like swelling of brain tissue (encephalitis) or surrounding tissue of spinal cord (meningitis). The at risk population includes elderly people, organ transplant recipients and those with compromised immune system. The major treatment involves supportive care like bed rest, medications to reduce fever and severe headache, intravenous fluids if dehydrated. Patients are hospitalized if severe symptoms like neurological involvement occurs.
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 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the market growth is the rising incidences of West Nile virus infection globally. According to CDC, as of November 2021, over 2,000 cases of West Nile virus disease in people have been reported to CDC from 44 states. Around 80% of people infected with West Nile virus do not show any symptoms. However, about 20% develop West Nile fever with symptoms like fever, headache, tiredness, and body aches. Less than 1% of infected develop serious illness which affects the central nervous system like encephalitis or meningitis. The at-risk population includes those over 60 years of age who are nine times more likely to develop severe illness if infected. Thus, rising cases of infection are driving the need for effective treatment and supportive care, boosting the market growth.
SWOT Analysis
Strength: The West Nile Virus market has seen significant funding for research & development over the past years. Major companies in the market are focused on developing advanced diagnostic tests and vaccines. Countries have implemented extensive surveillance programs to track and control vectors causing the virus.
Weakness: Existing diagnostic techniques lack specificity and sensitivity. Delays in confirming West Nile virus infections can hamper treatment protocols. Symptoms of the disease are also non-specific making clinical diagnosis difficult.
Opportunity: Governments across regions are working towards greater awareness about the disease to identify potential outbreaks early. The rising threat of the virus has boosted investments into preventive measures. Growing geriatric population prone to severe complications present an opportunity area.
Threats: Mutations in the virus can potentially make existing diagnostics and vaccines ineffective over time. Changes in weather patterns expand the habitat of mosquito vectors carrying the virus. Lack of effective antiviral drugs poses treatment challenges.
Key Takeaways
The Global West Nile Virus Market Size is expected to witness high growth over the forecast period supported by rising disease prevalence worldwide. 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 3.8% over the forecast period 2023 to 2030.
North America currently dominates market share owing to proactive surveillance programs. Initiatives by government agencies in the US and Canada have strengthened regional preparedness. However, growth in European countries is likely to gain strong momentum due to growing awareness. The Asia Pacific region is projected to see fastest gains in the West Nile Virus market buoyed by economic development across countries. India, China and other developing nations have expanded testing and vaccination coverage in recent years. This will support early case detection and disease management in the region.
Key players related content comprises: Key players operating in the West Nile Virus market are Aptar Group, Inc., RPC Group Plc, Gerresheimer AG, Amcor Limited, Albea S.A., Libo Cosmetics Company, Ltd, HCP Packaging, and ABC Packaging Ltd. They are focused on partnerships to develop advanced West Nile virus vaccines and diagnostic assays.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
