Vector Control Market is projected to reach $20.37 Billion by 2023

Published: Mon Sep 10 2018

The vector control market is projected to reach a value of USD 20.37 billion by 2023, at a CAGR of 5.13% from 2018 to 2023. The global market has been driven by the increasing demand of vector control products and services, and the stringent regulatory requirements to maintain a pest-free environment. This has driven the growth of the market in Asia Pacific and other countries such as Brazil, South Africa, and Argentina.

Increasing investments in R&D capabilities of the key players for the development of control methods, along with the increased mergers and acquisitions, is expected to change the business landscape over the next five years. There is a high scope of development in the biological control method in vector control owing to the stringent regulations on the use of chemical insecticides in the North American and European countries due to environmental concerns.

Based on vector type, the rodents segment is expected to witness the highest growth rate during the forecast period. This can be attributed to the increasing initiative programs by public health authorities to control global outbreaks of Hantavirus and hemorrhagic fever with renal syndrome (HFRS), among others. According to the Centers for Disease Control and Prevention (CDC), rodents are known to cause over 35 types of diseases that spread to humans directly, worldwide. Thus, there is a need for new innovative and transformative technologies which would serve as a prerequisite to the expectations of achieving the complete eradication of such diseases across the nations.

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On the basis of method of control, the biological control segment is projected to grow at the highest CAGR from 2018 to 2023. On a global level, the market for biologicals is expected to witness effective growth, which, in turn, would offer more opportunities for the manufacturers during the forecast period. The biological control segment is projected to witness the highest growth rate owing to the increasing awareness about the harmful effects of chemical pesticides and the ban on chemical usage (such as neonicotinoids) on the field in several countries, especially the European Union.

On the basis of end-use sector, the residential segment is expected to grow at a higher rate when compared to the commercial & industrial sector. Several outbreaks of life-threatening diseases are transmitted through disease-causing vectors such as insects and rodents. This has resulted in the increasing urban demand to maintain healthy sanitary conditions in the residential sector. This sector is expected to increase considerably through 2023, which would result in further opportunities for the pest services industry worldwide.

Asia Pacific is projected to be the fastest-growing market for vector control between 2018 and 2023. The climate across Asia Pacific, particularly in Southeast Asia and western Asia, is conducive to the breeding of many insects. Mosquitoes and rodents are among the many vectors in the Asia Pacific region and are expected to fuel the demand for vector control products and services over the next six years. The region has also been susceptible to many vector-borne disease outbreaks in the last two decades. From the last quarter of 2015, there have been a significant number of cases related to Zika virus in the region.

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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