The global west Nile virus therapeutics market has the potential to grow by USD 23.46 million during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of over 2%.
The availability of over-the-counter therapeutics is one of the major factors driving market growth. The US, the UK, and Canada are currently the significant markets for West Nile Virus Therapeutics.
West Nile Virus Therapeutics Market Report - Key Insights
Scope of this Report
The report provides a detailed analysis of the market by application and geography. Also, the report analyzes the market’s competitive landscape and offers information on several market vendors.
Browse TOC and LoE with selected illustrations and example pages from the West Nile Virus therapeutics market report
Market Segmentation
West Nile Virus Therapeutics Market by Application
- Neuroinvasive
- Non-neuroinvasive
West Nile Virus Therapeutics Market by Region
- Asia
- Europe
- North America
- ROW
Market Competitive Analysis
The West Nile virus therapeutics market is fragmented, and the degree of fragmentation will increase during the forecast period. Aurobindo Pharma Ltd., Bayer AG, GlaxoSmithKline Plc are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the asymptomatic nature of the disease will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The report provides information on the production, sustainability, and prospects of several companies, including:
- Aurobindo Pharma Ltd.
- Bayer AG
- GlaxoSmithKline Plc
- Granules India Ltd.
- Johnson & Johnson Services Inc.
- Mylan NV
- Novartis AG
- Perrigo Co. Plc
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
West Nile Virus Therapeutics Market: Key Drivers and Trends
Because of the availability of OTC therapeutics for the treatment of the symptoms associated with West Nile Virus infection, West Nile Virus therapeutics are preferred to cure encephalitis and meningitis. The availability of these OTC therapeutics allows patients to self-medicate and treat their illness at home. The low cost of these drugs without the need for prescription increases patient adherence, thereby driving market growth. Considering the easy availability and high demand for these therapeutics, manufacturers are focusing on awareness programs. This will subsequently drive market growth over the forecast period.
- West Nile Virus Therapeutics market trends such as the rising awareness about the infection will also influence market growth.
- The primary aim of creating awareness about risk factors and symptoms, and the treatment measures is to educate the people about the fatal consequences of West Nile Virus infection if left untreated.
- There is a growing demand for preventive and curative measures for this illness in countries such as UK, US, and Canada.
- To cater to the growing demand, vendors are introducing a wide range of strategies and programs to create awareness across the world.
- During 2019-2023, the market will register a CAGR of over 2%.
West Nile Virus Therapeutics Market: Segmentation by Region
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North America is a significant market for West Nile virus therapeutics. The rising disposable income of people, the availability of high-quality healthcare infrastructure, and improved diagnostic methods are driving market growth in the region.
During the forecast period, about 41% of the overall market growth will originate from North America. Moreover, market growth in this region will be faster than the growth of the market in Asia and ROW.
West Nile Virus Therapeutics Market: Segmentation by Application
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The occurrence of different symptoms attributes to the demand in the neuroinvasive application. They are also highly preferred by clinical products manufacturers and companies that manufacture therapeutics for clinical conditions such as meningitis, encephalitis, and acute flaccid paralysis.
Market growth in the neuroinvasive application segment will be slower than the growth of the market in the non-neuroinvasive application segment.
West Nile Virus Therapeutics Market: Key Highlights of the Report
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the market during the next five years
- Precise estimation of the global West Nile Virus Therapeutics market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the West Nile Virus Therapeutics industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of West Nile Virus Therapeutics companies
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