DUBLIN--(BUSINESS WIRE)--The "Vector Control Market by Vector Type (Insects and Rodents), End-use Sector (Commercial & Industrial and Residential), Method of Control (Chemical, Physical & Mechanical, and Biological), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The vector control market is estimated at USD 15.86 billion in 2018 and is projected to grow at a CAGR of 5.13% from 2018, to reach USD 20.37 billion by 2023.
The market is expected to gain momentum due to the rising awareness of health issues caused by vectors. Factors such as high efficiency of chemical-based vector control methods and the rising prevalence of vector-borne diseases are expected to drive the market. On the other hand, lengthy approval procedures of vector control products and environmental hazards of chemical-based vector control products are expected to restrain the growth of the vector control market.
Stringent regulations regarding the use of chemical insecticides are in place in North America and Europe owing to the environmental concerns arising from their usage. This has provided opportunities for the use of biological vector control methods, which are perceived to be safer as compared to their chemical-based counterparts.
The biological segment is projected to grow at the highest rate due to the growing concerns about the environmental impact of chemical compounds and rising number of cases of insecticide resistance among pests. Biological control methods include the beneficial action of microbials, insects, nematodes, botanicals, and fish on harmful insects and minimize the occurrence of diseases caused by insects.
The dominance of the commercial & industrial segment can be attributed to the increasing demand of vector control products and solutions in the food manufacturing and hospitality sectors in urban areas to maintain hygiene, especially in Asia Pacific countries. This is a result of the stringent regulations and procedural guidelines by governments and other specialized agencies. Globally, the market is further driven by factors such as mandatory audits for certifications such as ISO 9001 and ISO 22000 and stringent implementation of regulations by the US EPA for certain sectors.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Vector Control Market, By Vector Type
8 Vector Control Market, By Method of Control
9 Vector Control Market, By End-Use Sector
10 Vector Control Market, By Region
11 Competitive Landscape
12 Company Profiles
- BASF SE
- Bayer AG
- Syngenta AG
- Rentokil Initial PLC.
- FMC Corporation
- Rollins Inc.
- The Terminix International Company Lp
- Bell Laboratories Inc.
- Arrow Exterminators, Inc
- Massey Services Inc.
- Anticimex Group
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