Chikungunya Fever Market is Growing at a healthy CAGR of 5.8% During Forecast to 2023

 

Global Chikungunya Fever Market - Overview

Chikungunya fever is a disease caused by mosquito bites. It is an RNA virus that belongs to the alphavirus genus of the family Togaviridae. The disease is transmitted via human to human by the bites of female mosquitoes that are infected. The most commonly involved mosquitoes are Aedesalbopictus and Aedesaegypti. Symptoms includes nausea, headache, rashes,fatigue and muscle pain. There are no drug available for the treatment of Chikungunya fever.

The global Chikungunya Fever Market is expected to grow at a CAGR of 5.8% during the forecast period.

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Moreover, treatment are available for relieving the symptoms of this disease. In allopathy, the use of optimal analgesics andanti-pyretics are preferred treatment option. While, for homeopathy and ayurvedaspecific treatment procedures are employed. As per the World Health Organization (WHO), the disease mostly occurs in Asian countries such as the Indian subcontinent and other African regions. Nevertheless, there was major outbreak of this disease in 2015 that affected several countries in the Americasregion. Incidents such as this is projected to boost the market growth across the globe during the forecasted period.

Globally, more than 60 countrieshad reported Chikungunya fevercases for all regions including Africa continents, Americas, Europe,and Asia Oceanic.According to the World Health Organizationin 2016, there were 349 936 suspected with more than 146 914 laboratory confirmed cases of chikungunya reported to the (Pan American Health Organization)PAHO regional office. Countries such as Brazil reported the most severe cases with 265 000 suspected cases followed by Bolivia and Colombia at 19 000 suspected cases.

Competitive Landscape:

Bio-Rad Laboratories, Inc. (U.S.A), Alere. (U.S.A), Genome Diagnostics Pvt. Ltd. (India), Quest Diagnostics Incorporated. (U.S.A), Taj Pharmaceuticals Limited. (India), altona Diagnostics (Europe), Etubics Corporation (U.S.A), Sanat Products Ltd. (India)

Global ChikungunyaFever Market - Regional Analysis

The global Chikungunya Fever Market is divided into four regions namely Americas, Europe, Asia Pacific and the Middle East and Africa.

The Americas dominate the global chikungunya fever market owing to a strong government support for research & development, high healthcare spending,and large patient population. Besides, the regions facilitates the presence of the global market leaders which contribute the major growth of the global chikungunya fever during the forecasted period.North America is further segmented into the US and Canada. A well-developed healthcare sector, high healthcare spendingand huge geriatric & patient population will boost the market in North America. However, South America shows the fastest growth for the market due to the presence of huge opportunities for the development of the market.

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The Europe has the second leading market in global chikungunya fever market which is followed by Asia Pacific. Asia Pacific is the fastest growing market for chikungunya fever. According to the European Centre for Disease Prevention and Control there were about 102 autochthonous chikungunya cases in 2017in Italy. Furthermore, similar cases were reported in France. Factorssuch as the high per capita healthcare expenditures along with presence of the well-developed healthcare infrastructure made the Europe to generate huge revenues for the global chikungunya fever market. Indian and China were the prominent market that majorly drives the Asia Pacific chikungunya fever market  owing to a continuously developing healthcare sector and huge patient pool.According to the World Health Organization, the major outbreaks of chikungunya fever are seen in Asia and the Indian subcontinent. Rendering to the Indian Brand Equity Foundation, per capita healthcare expenditure was estimated to grow at a CAGR of 5 % during 2015 and will reach USD 68.6 by 2015.

The Middle East and Africa contribute the least in the growth of the global chikungunya fever market. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East market. The Middle East dominates the market for The Middle East and Africa. Africa holds the least share of the global chikungunya fever market due to limited availability of medical facilities and poor economic condition. However the growth of the Africa market is high due to the presence of opportunities for the development of the market.

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