Herpes Treatment Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Market Growth and Forecasts for 2021-2025
Decelerating at a CAGR of almost 3.40%, the herpes treatment market is expected to grow by post an incremental growth of $ 723.04 million over the next five years. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
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Herpes Treatment Market: Market Segments and Key Trends
The Herpes treatment market is segmented by Type (Herpes zoster and Herpes simplex) and Geography (North America, Europe, Asia, and ROW). North America led the market with 41% of the market growth set to originate from this region during the forecast period. Highly genericized market is one of the challenges that will need to be overcome to drive growth. The research report provides market share projections of each segment along with a detailed analysis of all the factors that are likely to boost growth within specific regions as well as global markets.
Herpes Treatment Market: Top Drivers to Boost Demand
Increasing prevalence of herpes infection is one of the primary factors that will drive the growth of the herpes treatment market. The rising prevalence rate of shingles in the older population is also contributing to market growth. The report provides a detailed study of this and all the other drivers that are likely to boost the market growth. For a deeper understanding of this market request our FREE Sample Report. Our analysis will help the client to prepare for recovery and growth post the havoc caused by the pandemic.
Herpes Treatment Market: Vendor Analysis
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Bausch Health Companies Inc., Cipla Inc., Eli Lilly and Co., Gilead Sciences Inc., GlaxoSmithKline Plc, Maruho Co. Ltd., Merck and Co. Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., and Viatris Inc. are some of the major market participants.
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Herpes Treatment Market: Key Highlights of the Report for 2021-2025
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Technavio has been monitoring the global herpes treatment market and it is expected to grow by USD 677.02 million, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report
Market Driver: Rise in geriatric population to drive growth
The rising prevalence of shingles or herpes zoster in the geriatric population will be one of the key factors driving market growth. People aged 50 years and above can develop this disease due to a weakened immune system. Complications associated with this disease, such as post-herpetic neuralgia (PHN) can cause severe pain in the areas where the rashes occurred due to shingles. People administered with immunosuppressants in the past can also develop the disease. This will drive the growth of the herpes treatment market during the forecast period.
Leading Segment by Type: Rising cases of Herpes zoster or Shingles to drive growth
The Herpes treatment market is segmented by type into Herpes zoster or shingles and Herpes simplex. Herpes zoster, which is caused by the reactivation of VZV within a person's body, is the segment that dominated the market in recent years . The rising prevalence rate of herpes zoster and expected drug launches for its treatment are expected to boost the growth of herpes zoster market during the forecast period. The rising number of immunocompromised people and the increasing older population are some of the major factors leading to the growing cases of herpes zoster. This report provides an accurate prediction of the contribution of all the segments to the growth of the herpes treatment market size.
Key Emerging Trend: Asia to offer significant growth opportunity
Asia will offer several growth opportunities to market vendors during the forecast period. The high prevalence rate of herpes infection, increased awareness, and entry of new players into the market with cost-effective drugs will significantly drive herpes treatment market growth in this region over the forecast period. 38% of the market growth will originate from Asia during the forecast period. Japan is a key market for herpes treatment in Asia. Market growth in this region will be faster than the growth of the market in other regions.
Herpes Treatment Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Bausch Health Companies Inc., Cipla Inc., Eli Lilly and Co., Gilead Sciences Inc., GlaxoSmithKline Plc, Maruho Co. Ltd., Merck & Co. Inc., Mylan NV, Novartis AG, and Teva Pharmaceutical Industries Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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