Monkeypox Therapeutics Market To Grow With Advancing Pharmaceutical Industry
Surge in the instances of
the infectious diseases supports Global Monkeypox Therapeutics Market growth
during the forecast.
According to TechSci Research
report, “Monkeypox Therapeutics Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027” Global monkeypox therapeutics
market is anticipated to hold an impressive CAGR for the future growth during
the forecast years, on the account of growing demand for the effective
pharmaceutical discoveries and vaccines. Surge in the instances of monkeypox
and growing threat for another pandemic to hit the population is driving the
growth of the global monkeypox therapeutics market in the upcoming five years. Expanding
pharmaceutical industry, growing research in the sector supported by higher
investments further supports the growth of the global monkeypox therapeutics
market in the next five years. Although use of smallpox therapeutics helped
with controlling the disease spread, the infection was completely and
effectively irradicated. Outbreak in the countries like the United States have
increased the threat. As per World Health Organization, there is a “moderate”
risk that monkeypox could spread widely across the globe. Fortunately, the
mortality rate is low, between 1 to 10 percent, and is particularly low with
the current strain that has most recently appeared on the scene. Though rising
threat of it turning into another infection like COVID-19 has alarmed the authorities
in all the 20 countries currently incurring the monkeypox cases and thereby
advancing the growth of the global monkeypox therapeutics market in the future
five years.
Technological advancement and
biotechnological processes further drive the growth of the global monkeypox
therapeutics market in the forecast years.
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The global monkeypox
therapeutics market segmentation is based on treatment, end user, regional
distribution, and competitive landscape. Based on treatment, the market is
fragmented into smallpox vaccine, antivirals, and vaccinia immune
globulin (VIG). Smallpox vaccine is anticipated to hold the largest revenue
shares of the market and dominate the market segment in the upcoming five years
on the ground of traditional use of the smallpox medicines to control the
monkeypox infections spreading earlier. Smallpox as well as monkeypox both have
high risk threat in the African countries. Although the recent cases are
rapidly increasing in the United States and European countries. Demands for the
smallpox vaccine are expected to grow in the future years and support the
growth of the global monkeypox therapeutics since the demand for the specific
vaccination is also anticipated to fuel market growth. Anti-viral drugs are
also expected to register significant growth in the next five years growing on
the backbone of surging demands for the effective treatment for the monkeypox
therapeutics market in the future five years. Also, demand for the symptomatic
treatment would aid the segmental growth along with the advances of the global
monkeypox therapeutics market in the forecast years through 2027.
By end user, the market is
fragmented into hospitals, specialty clinics, ambulatory surgical centers, and
others. Hospitals are anticipated to hold the largest revenue shares of the
market and dominate the market segment in the upcoming five years on the
grounds of increasing demands from the patients. Surging patient count and
dependency of the population over hospitals to avail effective and sufficient
patient care services would also support the growth of the global monkeypox
therapeutics market in the future five years. Over burdening of the patient
count may redirect the patient toward other healthcare centers to avail patient
care.
The market analysis also
studies the regional segmentation, divided among Asia-Pacific region, North
American region, European region, South American region, and Middle East &
African region.
Some of the market players,
dominating 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
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“North America region may dominate
the regional analysis of the market with largest revenue share of the market.
Growth in the region can be attributed to growing research and technological
development in the pharmaceutical sector in the large economies like the United
States and Canada. Continuous technological developments by key players, high
investment in R&D, and availability of technologically advanced healthcare
infrastructure support the regional advancing market in the future years.
Concerns over increasing instances of infectious diseases and demands for the
effective vaccinations and medicines are further aiding the growth of the
global monkeypox therapeutics market. Moreover, the government is highly
invested in the research and advancing the early diagnostic process to identify infectious
diseases and academic research further aids to the market growth,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Monkeypox Therapeutics Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Treatment
(Smallpox Vaccine, Antivirals, Vaccinia Immune Globulin (VIG)), By End User
(Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), By Region”, has evaluated the future
growth potential of global monkeypox therapeutics and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global monkeypox therapeutics market.
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