Key Trends Shaping the Vector Control Market

Northbrook, USA, 2020-Feb-21 — /EPR Network/ — The vector control market is projected to grow at a CAGR of 5.13% from 2018 to 2023, to reach a projected value of USD 20.37 Billion by 2023. The increasing awareness about public health has led to the adoption of vector/pest control services on a regular basis in the residential, commercial, and industrial sectors.

The objectives of the report:

• Determining and projecting the size of the vector control market with respect to vector type, end-use sector, method of control, and regional markets over the period ranging from 2018 to 2023
• Identifying attractive opportunities in the market by determining the largest and fastest-growing markets across regions
• Identifying drivers and restraints impacting the global market for vector control

On the basis of vector type, the insect control segment accounted for a major share in the market for 2017, due to the rising cases of epidemics caused by vectors such as mosquitoes, cockroaches, bedbugs, flies, and ants across the globe. Promotions by individual country governments and renowned global organizations such as the WHO for the disease/vector eradication programs have also driven the growth of the insect control segment.

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On the basis of method of control, the biological segment is projected to grow at the highest growth rate during the forecast period. This can be attributed to the growing concerns on the environmental impact of chemical compounds and the rising number of cases of insecticide resistance among pests. Additionally, biologicals are gaining preference as they are perceived to be safer than their chemical-based counterparts.

On the basis of end-use sector, the commercial & industrial segment accounted for a larger market share in 2017, due to the increased demand from sectors such as food & beverage manufacturing, food services, hospitality, government organizations, and pharmaceuticals. The demand can be attributed to the need for complying with the local authorities for workplace hygiene and maintenance as a part of the stringent regulations laid by governments.

The North American region dominated the vector control method market in 2017 wherein the US and Canada were the major markets owing to the high demand for vector control services in the residential sector, which, in turn, is expected to grow rapidly in the next five years. In the commercial & industrial sector, stringent implementation of regulations is being carried out to ensure the maintenance of the overall standards for safe and hygienic environment.

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The market for vector control is divided into products and services, with key players in both the areas occupying a share in the global market, which makes the entire sector unorganized. The wide variety of products and services offered by these companies, their strong brand value, their vast geographical presence in terms of manufacturing and serving, R&D units, and distribution partners are the factors driving the growth of this market. The key manufacturers in the vector control market are Bayer AG (Germany), Syngenta AG (Switzerland), BASF SE (Germany), Bell Laboratories, Inc. (US), and FMC Corporation (US). Key service providers in the industry are Rentokil Initial plc (UK), Ecolab (US), The Terminix International Company LP (US), Rollins, Inc. (US), Anticimex Group (Sweden), Arrow Exterminators, Inc. (US), Massey Services Inc. (US), and Ensystex (US).

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