PUNE, India, May 18, 2018 /PRNewswire/ --
The report "Larvicides Market by Control Method (Biocontrol Agents, Chemical Agents, Insect Growth Regulators), Target (Mosquitoes, Flies), End-use Sector (Public Health, Agricultural, Commercial, Residential, Livestock), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 952.7 Million by 2023, from USD 751.6 Million in 2018, at a CAGR of 4.86% during the forecast period. The market is driven by factors such as vector-based epidemics or outbreaks, climatic changes, the rise in pest population, worldwide, and growth in awareness about IPM practices and environmental sustainability.
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The public health sector is estimated to be the largest end-use segment for larvicides in 2018
The usage of larvicides is much higher for public health, compared to other sectors, both in urban and rural areas. Mosquitoes and mosquito-transmitted diseases are among the principal public health concerns challenging governments globally, particularly in tropical and subtropical regions. The larvae of mosquitos are generally present on water bodies such as ponds, lakes, marshes, drains, and swamps, and hence, larvicides are used on these large larval development sites in significant quantities for eliminating threats to public health.
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Biocontrol agents are projected to be the fastest-growing segment during the forecast period.
Biocontrol agents such as Bacillus thuringiensis israelensis (Bti) and Bacillus sphaericus (Bs) are proven to be effective for larval control, and are safe to the environment, due to the quick knockdown of pests, no cross-resistance with traditionally used pesticides, and favorable toxicological profile. Thus, the market for biocontrol agents is projected to grow at the highest CAGR during the forecast period.
North America is projected to dominate, while Asia Pacific is projected to be the fastest-growing market for larvicides through 2023.
North America is estimated as the largest consumer of larvicides in 2018. It is estimated to be the world's largest market for pest control products in 2018, with the presence of many multinational and national companies in the region. Integrated Mosquito Management (IMM) concept is widely used for controlling mosquitoes. The market in the US and Canada are considerably large due to effective execution of surveillance and vector control programs, which limit the endemic transmission of diseases such as malaria and dengue fever.
The market for larvicides in the Asia Pacific region is projected to grow at the highest CAGR from 2018 to 2023, owing to spread of mosquito-borne diseases, high rate of urbanization, and increase in public intolerance to pests.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies which includes Bayer (Germany), BASF (Germany), Gowan Company (US), Sumitomo Chemical (Japan), Nufarm (Australia), Certis (US), Summit Chemical (US), Syngenta (Switzerland), Adama (Israel), Eli Lily and Company (US), Russell IPM (UK), and Central Garden & Pet Co. (US).
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