Chikungunya Fever Market is Projected to Reach USD 1.98 Billion by 2027
Published | 13 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
infections.
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.
Don’t miss the business opportunity of
the Chikungunya Fever market. Consult our analyst, gain crucial insights, and
facilitate your business growth.
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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