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HEALTHCARE & PHARMACEUTICAL

Rift Valley Fever (RVF) Treatment Market Segmentation by Transmission (Mosquito Vector, Cattle, and Others); by Symptoms (Encephalitis, Hemorrhagic fever, Ocular Issues, and Others); by Distribution Channel (Pharmacies, Hospital, and Others); and by Treatment (Medication, Supportive Care, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • August 25, 2021: Cipla Limited to collaborate with Kemwell Biopharma Private Limited, a leading global CDMO. The collaboration aims to make cost-effective biotherapeutics.

  • February 11, 2021: Sandoz, a subsidiary of Novartis, announced the acquisition of cephalosporin antibiotics business of GSK, to expand its portfolio in manufacturing antibiotics.

Global Rift Valley Fever (RVF) Treatment Market Highlights over 2022 – 2030

The global Rift Valley fever (RVF) treatment market is estimated to grow at a substantial CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the rising cases of Rift Valley fever, along with absence of any specific medication for RVF. According to a report by the Center for Disease Control and Prevention (CDC), there is no FDA-approved treatment for RVF, and mild symptoms are treated using over-the-counter medications. The virus primarily infects animals, mostly cattle, such as, sheep and goat, which is transmitted to humans either through mosquito vector or through direct contact with infected animal. Certain occupational groups which generally come in contact with animal blood, for instance, herders, slaughterhouse workers, and veterinarians are at higher risk of infection. No case of human-to-human infection has been recorded. Symptoms include, fever, muscle pain, headache, loss of appetite, vomiting, and other flu-like symptoms at the early stage of infection. These can be treated using general fever medications, or infected person develops immunity against the virus. However, in severe cases, symptoms can be serious, such as retinal lesions, meningoencephalitis, loss of memory, hallucinations, vertigo, and hemorrhagic fever. According to the data by the World Health Organization, only 0.5–2% of patients develop eye or ocular diseases, and less than 1% experience meningoencephalitis and hemorrhagic fever.

Rift Valley Fever (RVF) Treatment Market Graph

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The Rift Valley fever is primarily limited in the Middle East and Africa region, and has been declared endemic in the region. Post 2000, approximately 12 outbreaks of RVF have been recorded in the region. A report by the WHO states that the most recent outbreak occurred in Republic of Niger in 2016, and Ministry of Health of the country recorded around 105 cases, including 28 deaths. The highest number of cases were reported in Yemen in 2000, with 1087 suspected cases and 121 deaths.

Rift Valley Fever (RVF) Outbreaks Infographics

The market is segmented by transmission into mosquito vector, cattle, and others, out of which, the mosquito vector segment is anticipated to hold a modest share in the global Rift Valley fever treatment market over the forecast period on account of higher proximity of infection transmission through mosquito, along with lack of preventive methods in case of mosquito vector transmission. There is no requirement of direct contact with animal in case of transmission by mosquito, which makes in more dangerous and easier to spread. Such factors are estimated to boost the segment growth.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Rift Valley Fever (RVF) Treatment Market Regional Synopsis

On the basis of geographical analysis, the global Rift Valley fever treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Middle East and Africa region is estimated to attain largest share over the forecast period on the back of high prevalence of RVF in the region, along with lack of proper healthcare facilities to control the epidemic. Moreover, constant effort to improve the healthcare sector in the region, is estimated to boost the market growth.

The market in the North America region is anticipated to gain notable market share throughout the forecast period on the back of presence of major pharmaceutical companies, manufacturing medications required to treat RVF.

Rift Valley Fever (RVF) Treatment Market Share Graph

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The global Rift Valley fever (RVF) treatment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global Rift Valley fever (RVF) treatment market includes the following segments:

By Transmission

  • Mosquito Vector
  • Cattle 
  • Other

By Symptoms

  • Encephalitis
  • Hemorrhagic fever
  • Ocular Issues 
  • Others

By Distribution Channel

  • Pharmacies
  • Hospitals
  • Others

By Treatment

  • Medication
  • Supportive Care
  • Others

Growth Drivers

  • Growing Prevalence of Rift Valley Fever
  • R&D for Developing Treatment Method for RVF

Challenges

  • Absence of Any Proper Treatment Method
  • Lack of Healthcare Facilities in Low-income Countries

Top Featured Companies Dominating the Market

There is no FDA approved medication to treat Rift Valley fever (RVF), however, generic medications for flu and fever are used to treat the symptoms. Major pharmaceutical companies, including, Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Siemens Healthcare GmbH, Pfizer Inc., Eli Lilly and Company, and others, manufacture drugs required to treat RVF.

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