increasing prevalence of herpes infection is driving the Herpes Treatment Market
Technavio analyzes that the Herpes Treatment Market is expected to grow at a CAGR of 4.43% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1142.2 million.There are various factors that contribute to the growth of the market. The herpes infection prevalence rate is on the rise, posing a significant challenge to global health. According to recent studies, herpes simplex virus (HSV) 1 and 2 affect millions of people worldwide, with an estimated 3.7 billion people under the age of 50 having HSV-1 and over 491 million having HSV-2. This increasing trend calls for innovative and effective herpes treatment market solutions to manage symptoms and prevent transmission.
In the healthcare industry, vaccines represent a crucial segment of biological therapies, offering preventative measures against various disease outbreaks. Vaccines facilitate active immunization, which involves the administration of dead or attenuated microbial antigens prior to natural infection. Subsequently, if an individual encounters the antigen, pre-existing antibodies from the immunization process swiftly eliminate it. The herpes zoster (shingles) vaccine, Shingrix, experienced a 15% growth in Q3 of 2023 due to heightened demand and favorable pricing. Innovative vaccines in development are anticipated to further propel market expansion during the forecast period. Anti-viral drugs, such as Acyclovir Cream (Brand name: Zovirax) and ointment, remain essential treatments for managing herpes outbreaks. Notably, the hospital population is a significant consumer base for these therapies. Additionally, the development of vaccines and anti-viral drugs for Varicella-zoster viruses is a focal point of research, with Vidarabine and Cureus journal contributing to the ongoing discourse on herpes treatment and mortality reduction in comorbid patients.
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Herpes Treatment Market Segmentation
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The Herpes Treatment Market encompasses the provision of remedies for Herpes infections, including Genital Herpes caused by HSV-1 and HSV-2, and Oral Herpes caused by HSV-1. The market includes expenditure on Healthcare for these infections, with a focus on Antiviral drugs such as Acyclovir, Valacyclovir, and Famciclovir. Clinical trials are underway for Vaccines against Varicella-zoster viruses and new therapies like Gene therapy and mRNA therapeutics. Hospitals treat a significant portion of the population with Herpes infections, and research is ongoing for new treatments in Saliva, Vaginal secretion, and Semen samples.
The Herpes Treatment Market is a significant segment of the global pharmaceuticals industry, encompassing entities involved in the research and development (R&D) or production of antiviral drugs, generic and non-generic medications, and veterinary pharmaceuticals. According to Technavio, the healthcare market size is determined by the consolidated revenue generated by manufacturers and providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. The expansion of the global pharmaceuticals market will be fueled by several key factors, including the increasing elderly population. By 2050, approximately one-quarter of the US population and Europe's population ratio is projected to be over 60 years old. This demographic shift will create a substantial demand for treatments, particularly for genital herpes infections caused by HSV-1 and HSV-2, which disproportionately affect older adults. Antiviral drugs, such as Acyclovir, Valacyclovir, and Famciclovir, are currently the primary treatment options for herpes infections. However, the development of herpes vaccines is a promising area of research, with institutions like Friedrich-Alexander-Universität (FAU) leading the way through their clinics and laboratories. The growing need for effective herpes treatments and preventative measures will continue to drive market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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