Chikungunya Fever Market is Projected to Reach USD 1.98 Billion by 2027
Published | January 2021
According to BlueWeave Consulting, the global chikungunya fever market is estimated to
have reached USD 1.20 billion in 2020 and is further projected to reach USD
1.98 billion by 2027, growing at a CAGR of 7.4% during 2021-2027 (forecast
period). Most people usually recover fully, with symptoms resolving in three to
10 days. The joint pain may continue for months for some people or even years.
Death from complications of chikungunya is very rare, but the virus sometimes
causes severe problems, mostly in older adults with other chronic illnesses.
People who have been infected once are likely to be protected from future
Rising unmet needs for chikungunya diagnosis in Asia and Africa
Beginning in 2004, the chikungunya virus (CHIKV) went from an endemic pathogen limited to Africa and Asia that caused periodic outbreaks to a global pathogen. Given that outbreaks caused by CHIKV have continued and expanded, serious consideration must be given to identifying potential options for vaccines and therapeutics and this is acting as a great opportunity for the market. Currently, there are no licensed products in this realm, and control relies completely on the use of personal protective measures and integrated vector control, which are only minimally effective. Therefore, it is prudent to urgently examine further possibilities for control. Vaccines are highly effective against vector-borne diseases.
Dearth of skilled professional for treatment of Chikungunya Fever is hampering the market growth
The dearth of the skilled professional for treating chikungunya fever has been creating a challenge for the market. As, sErologic testing, viral culture, and molecular diagnostics are used to diagnose CHIKV. CHIKVspecific IgM antibodies appear about 1 week into the illness and stay positive for 3 to 6 months. IgG antibodies appear by 10 days and may persist for weeks to months. The proper knowledge has been required for the medical professional. The reliability of the diagnostic tests for CHIKV may be affected by the need to send specimens over great distances for laboratory evaluation and confirmation. The indirect fluorescent antibody tests, in particular, have shown variability between laboratories. The Commercially available tests focus on CHIKV IgM and IgG through ELISAs or immunochromatography tests for rapid detection and a study of these primary methods for diagnostics conducted in 2014 showed these tests returned a high number of false positives and false negatives.
Research Laboratories Segment occupy the largest share of the Chikungunya Fever market
Based on the end-user, the Chikungunya Fever market is segmented into hospitals and clinics, academic institutes, research laboratories, and others. In the laboratory, scientists were able to reduce the ability of the chikungunya virus to infect cells by editing the human and mouse genes that encode Mxra8. The researchers also administered anti-Mxra8 antibodies to mice and infected the mice with chikungunya virus or O’nyong-nyong virus, another alphavirus. The antibody-treated mice had significantly lower levels of virus infection and related foot swelling as compared with the control group. And currently growing research on specific treatment to cure the chikungunya virus and prevention of fever and debilitating joint pain and arthritis is driving the market. Small, sporadic outbreaks of chikungunya occurred in Africa, Asia, Europe, and the Indian and Pacific Oceans after the virus was identified in the 1950s.
Global Chikungunya Fever Market: Regional insights
North America catering the largest share and expected to witness significant growth in the Chikungunya fever market during the forecast period. The high industry growth rate, with the emergence of new technology, is the major reason. The key providers are continuously upgrading their offerings to differentiate them from other competitors. This is achieved by various organic and inorganic strategies. Suppliers operating in the industry are continuously working on new development, technical expertise, and in-house capabilities. High opportunity makes the Chikungunya fever market more competitive and suppliers are trying hard to capture the clients. The market is highly acceptable to innovative products, however, considering the risks involved in business continuity implementers are still considering brand over new offerings in the market.
Global Chikungunya Fever Market: Competitive Landscape
The leading players for the global Chikungunya fever market include Quest Diagnostics Incorporated. Alere., Genome Diagnostics Pvt. Ltd., Altona Diagnostics, Bio-Rad Laboratories, Inc. (U.S.A), Sanat Products Ltd. Taj Pharmaceuticals Limited. , and Etubics Corporation and others, are expanding their presence in the market by implementing various business strategies. Major players are engaged in mergers and acquisitions, expansion of their manufacturing facilities, infrastructural growth, investment in R&D facilities, and the quest for opportunities to expand vertically through the value chain.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global Chikungunya fever market size & forecast. The report promises to provide recent technology trends of the Chikungunya Fever market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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