PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555526
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555526
Genital Herpes Market size was valued at USD 987.67 Million in 2023, expanding at a CAGR of 4.89% from 2024 to 2032.
Genital herpes is a prevalent sexually transmitted infection (STI) resulting from the herpes simplex virus (HSV). This condition is marked by recurring episodes of painful sores and blisters in the genital and anal regions. The two types of herpes simplex virus responsible for genital herpes are HSV-1 and HSV-2. According to the World Health Organization, approximately 3.7 billion individuals under the age of 50 were infected with HSV-1 in 2016. Additionally, around 491 million people aged 15 to 49 were reported to have an HSV-2 infection in the same year.
Genital Herpes Market- Market Dynamics
The increasing prevalence of genital herpes is projected to drive the growth of the market
Genital herpes ranks among the most prevalent sexually transmitted infections (STIs) across the globe. The increasing incidence of this condition carries various implications for the market, affecting both the demand for diagnostic services and the necessity for effective treatment alternatives. According to the World Health Organization, approximately 3.7 billion individuals under the age of 50 (67%) worldwide are infected with herpes simplex virus type 1 (HSV-1), which primarily causes oral herpes. Additionally, an estimated 491 million people aged 15 to 49 (13%) globally are affected by herpes simplex virus type 2 (HSV-2), the primary cause of genital herpes. Moreover, ongoing investigations into vaccines for the herpes simplex virus offer a considerable opportunity for market growth. Nevertheless, the high cost of treatment may pose a challenge to the expansion of the market.
Genital Herpes Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.89% over the forecast period (2024-2032)
Based on the Route of administration segmentation, Oral was predicted to show maximum market share in the year 2023
Based on End-User segmentation, Retail Pharmacies were the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Genital Herpes Market is segmented based on Type, Route of Administration, End-User, and Region.
The market is classified into two segments according to Type: Diagnosis and Treatment. With ongoing research and heightened awareness, the market for both diagnosis and treatment is anticipated to grow, providing improved solutions for patients and healthcare professionals.
The market is classified into three segments according to the Route of Administration: Oral, Injectable, and Topical. Oral medications lead the market owing to their systemic effectiveness and convenience of use, whereas topical treatments offer targeted relief. Injectable medications, although less prevalent, play a crucial role in managing severe conditions.
The market is segmented into two primary categories according to End-User: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others. Retail Pharmacies hold a dominant position within the market. They play an essential role in the genital herpes sector by providing access to both prescription and over-the-counter treatments, facilitating patient education, and enhancing healthcare delivery.
Genital Herpes Market- Geographical Insights
This market is geographically extensive, encompassing North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. These areas are further categorized based on the countries contributing to business activities. North America leads in market growth, primarily driven by the rising demand for genital herpes treatments among homosexual individuals. The region exhibits a significant prevalence of genital herpes, with a considerable segment of the population affected by HSV-1 and HSV-2. This elevated prevalence underscores the need for thorough diagnostic and treatment options. The U.S. Food and Drug Administration (FDA) is instrumental in the approval and regulation of new therapies, ensuring the availability of effective and safe medications in the marketplace. According to the National Library of Medicine, 1 in 1,000 newborns in the United States is diagnosed with neonatal herpes infection, with the risk increasing if the mother contracts genital HSV infection during pregnancy and transmits it to the fetus. Europe ranks as the second-largest region for market growth, attributed to the high prevalence and awareness of genital herpes.
The genital herpes market exhibits a competitive environment, characterized by numerous participants engaged in the development, production, and distribution of diagnostic tests and therapeutic options. Manufacturers are prioritizing investments aimed at creating more precise and rapid diagnostic tests. Additionally, they are broadening their reach into new markets and regions to enhance product accessibility. Pharmaceutical firms, diagnostic test manufacturers, and retail pharmacies each contribute significantly to the provision of treatments and diagnostics for genital herpes.
In November 2023, Abbott Laboratories obtained approval from the U.S. Food and Drug Administration for its molecular human papillomavirus (HPV) screening test, thereby enhancing the company's portfolio of cancer screening instruments. This latest addition to the Alinity M series of diagnostic assays is suitable for screening by existing guidelines, as well as for diagnostic purposes, and offers comprehensive insights into the genotypes of the virus that may lead to cancer.
In March 2024, Sun Pharmaceutical Industries Inc. announced the recall of 47,520 bottles of the 40 mg medication and 7,488 bottles of the 80 mg formulation, citing deviations from Current Good Manufacturing Practice (CGMP) regulations.