Larvicides Market Global Sales, Revenue, Price and Gross Margin Forecast To 2024

Market Overview

The Larvicides Market in Europe accounted for the second-largest share due to the high awareness among the citizens in the region. The high government spending on healthcare and the medical sector is another factor driving the demand for larvicides in the region. In 2016 the total expenditure on health in the EU amounted to 7.1% of the GDP. Moreover, the presence of Ixodes ricinus, which is responsible for Lyme borreliosis, in Scandinavia, the British Isles, Central Europe, France, Spain, Italy, the Balkans, and Eastern Europe is expected to fuel market growth during the forecast period.

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The market in Asia-Pacific is projected to witness substantial growth owing to the high demand for pest control in the region. Additionally, the demand from the agriculture sector is high due to the presence of major agricultural countries such as India, Taiwan, Malaysia, and Thailand, which is expected to drive product demand.

Key Players

• Bayer AG
• BASF SE
• Syngenta
• Sumitomo Chemical Co.Ltd
• Adama Agan Ltd
• Certis USA LLC
• Central Garden & Pet Company
• Nufarm Limited
• Russell IPM Ltd
• Gowan Company
• Isagro
• Arysta LifeScience Corporation

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Segmentation

The Global Larvicides Market has been segmented on the basis of type, form, target, application, and region.

On the basis of type, the market has been categorized as microbial larvicides, organophosphates, insect growth regulators, and others.

Based on form, the global larvicides market has been segmented into liquid, tablets, pellets, granules, and briquettes.

The Global Larvicides Market has been segmented, by target, into mosquitoes and flies.

By application, the market has been divided into public health, agriculture, commercial, residential, and livestock

Regional Analysis

The Global Larvicides Market has been segmented into five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

North America accounted for the majority of the market share in 2017 due to the increasing prevalence of vector-borne diseases coupled with the high spending on healthcare. According to the WHO, the West Nile virus is the most common mosquito-borne disease in the US, followed by malaria, dengue, and chikungunya. There were over 26,203 cases of Lyme disease in the US with 2,100 cases of West Nile, causing 106 deaths in 2016. In the same year, there were 248 cases of chikungunya virus and reported malaria cases of around 1,955. The high disposable income and standards of living coupled with the health awareness in the region are the major drivers of market growth. Furthermore, the increase in the number of Zika cases in the US after the outbreak in Brazil in 2015 has resulted in the growing demand for larvicides. The funding for the prevention of vector-borne diseases by the National Institutes of Health was around USD 587 million in 2017, which is expected to fuel market growth.

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The market in Europe accounted for the second-largest share due to the high awareness among the citizens in the region. The high government spending on healthcare and the medical sector is another factor driving the demand for larvicides in the region. In 2016 the total expenditure on health in the EU amounted to 7.1% of the GDP. Moreover, the presence of Ixodes ricinus, which is responsible for Lyme borreliosis, in Scandinavia, the British Isles, Central Europe, France, Spain, Italy, the Balkans, and Eastern Europe is expected to fuel market growth during the forecast period.

The market in Asia-Pacific is projected to witness substantial growth owing to the high demand for pest control in the region. Additionally, the demand from the agriculture sector is high due to the presence of major agricultural countries such as India, Taiwan, Malaysia, and Thailand, which is expected to drive product demand.

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