Europe Zika Virus Market To Reach USD 18697 Billion By 2031 From USD 14500 Million In 2022, At A CAGR Of 5.2% During The Forecast Period

(MENAFN- America News Hour)

Key Companies Covered in the Europe Zika Virus market Research are NHI, Sanofi, GSK, Bharat., Takeda, Inovio Pharmaceuticals, GeneOne Life Science Inc, PaxVax, Gilead Sciences Inc., Intrexon Corp., NewLink Genetics Corp and other key market players .

The global Europe Zika Virus Market size is projected to reach USD 18697 billion by 2031 from USD 14500 Million in 2022, at a CAGR of 5.2% during the forecast period .Presence of vectors such as Aedes aegypti mosquitoes will increase the chance of disease spread in the region especially in Brazil. Approximately, 4,000 suspected cases of microcephaly in newborns have been reported in Brazil in the span of four months in first quarter of 2016.

The GDP in the Europe region recorded a growth rate of 2.1 percent in 2017 up from 1.8 percent in 2016 which was the highest growth rate recorded since 2007.

CRIFAX added a report on 'Europe Zika Virus Market, 2023-2033' to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, growth analysis along with challenges that are affecting the growth of the market are also stated in the report.

The Europe Zika Virus Market is anticipated to observe a phase of consistent growth, owing to various factors affecting the healthcare sector such as focus of government expenditure towards healthcare sector primarily in research and development accompanied by structural changes introduced into the system to enable several healthcare providers to concentrate not only in ensuring sufficient volume is handled, but also ensuring quality of service is not compromised by healthcare providers. The government expenditure towards healthcare in the EU was recorded at USD 1220.455 billion, which constituted about 7.0% of GDP in 2017.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Regional Market).”

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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country's goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:

As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation. 

The rate of growth of GDP in Europe was recorded at 2.1% in 2017 which was higher than 1.8% registered in the year 2016. The healthcare expenditure was the highest in Germany, France and Sweden in relation to their GDP, with Germany recording the highest healthcare expenditure at USD 389.51 billion in 2016. In 2017, the EU region had registered a healthcare spending which was about 9.6% of its GDP.

The growth rate of population in EU28 was marginally high with the population growing from 50,40,47,749 individuals in 2012 to 51,23,79,225 individuals in 2018. The life expectancy had improved marginally and was estimated at 80.9 years in 2017. The financing towards health spending by EU nations, with both the Government as well as through compulsory insurance covering more than 75% of health spending in 2016. Additionally, growth in the number of doctors per capita was witnessed since the year 2000. A rise in public spending on healthcare as a share of GDP is expected to be witnessed over the next decade. With many health related policies of governments in EU taking center stage over the past few years, habits such as smoking and drinking alcohol among the population had reportedly declined and lifestyle diseases such as obesity had been reportedly more prevalent only among the less educated population in the region.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Regional Market).”

Click to Download Complete Sample Report@

To provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the Europe Zika Virus Market report. Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter's five force model, absolute $ opportunity and anticipated cost structure of the market.


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