PUBLISHER: TechSci Research | PRODUCT CODE: 1105804
PUBLISHER: TechSci Research | PRODUCT CODE: 1105804
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Global monkeypox therapeutics market is projected to register growth at a significant CAGR during the forecast period, 2023-2027. The market growth can be attributed to the sudden outburst of the viral infection among the population across Europe and United States. In the year 2003, monkeypox caused a commotion because it spread quickly, and the number of affected patients exceeded 40 in a matter of weeks. Although the disease spread was relatively well-controlled, the recent outbreak of infection and rapidly increasing cases pose a threat for another possible pandemic. Hence, the demand for effective treatment, vaccination, and other rare disease therapeutics are expected to support the growth of the global monkeypox therapeutics market over the next five years.
There is currently no specific treatment or defined pharmaceutical for the disease, but symptomatic treatment is possible, and an increase in demand for pain and itch relief due to boils and rashes are positively influencing the growth of the global monkeypox therapeutics market.
Monkeypox is a viral infection that spreads like a highly communicable disease through mere touch and use of infected patient's material. The virus is related to smallpox, and the vaccination and drugs used to control smallpox are also somewhat effective against monkeypox diseases. Although no specific vaccine or treatment drug has yet been commercialised, research is still ongoing. Patients with compromised immunity, those suffering from chronic disease, certain skin conditions such as eczema, those recovering from a recent pandemic, and those suffering from other anti-viral infections are all at high risk of contracting the monkeypox.
Growing demand for timely vaccines and potential disease treatments may support the growth of the global monkeypox therapeutics market in the next five years. Governments are actively investing in the research and development of effective vaccines and drugs to control disease spread and treat affected patients. In addition, the government is taking steps to promote drug development using genetic engineering tools in order to provide vaccination in the event that the virus evolves and affects a larger portion of the population.
Genomic sequencing for the virus would elucidate the specific infection-causing sequences, which could aid in the early diagnosis of the viral infection and the development of effective vaccines for the population at risk of infection in the coming years. Furthermore, rising healthcare expenditures by the population is fuelling growing investments for the developmen to new vaccines, which is likely to aid the global monkeypox therapeutics market in the next five years.
The global monkeypox therapeutics market segmentation is based on treatment, end user, regional distribution, and competitive landscape. Based on treatment, the market is divided into smallpox vaccine, antivirals, and vaccinia immune globulin (VIG). The smallpox vaccine segment is anticipated to hold the largest share in the global monkeypox therapeutics market due to the rising number of cases of monkeypox.
Key players operating in the global monkeypox therapeutics market are Chimerix Inc., SIGA Technologies, Inc., Emergent BioSolutions Inc., Bavarian Nordic A/S, Hetero Drugs Limited, Mylan N.V., Piramal Enterprises Limited, Olon S.p.A., Teva Pharmaceutical Industries Limited, CIDIC Company Limited, among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Global monkeypox therapeutics market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global monkeypox therapeutics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Vaccinia Immune Globulin (VIG)
Ambulatory Surgical Centers
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global monkeypox therapeutics market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
(Note: The companies list can be customized based on the client requirements.)