Global Cytomegalovirus Treatment Market is expected to reach at a CAGR of 4.85% from 2018 to 2025
A new research report published by Fior Markets with the title Global Cytomegalovirus Treatment Market by Drug Type (Cidofovir, Foscarnet, Valganciclovir, Ganciclovir), Infection Type, Distribution Channel, and Region and Global Forecast 2018-2025.
As per the report, the global cytomegalovirus treatment market is expected to reach from USD 230.56 Million in 2017 to USD 335.49 Million by 2025 at a CAGR of 4.85% from 2018 to 2025. North America is estimated to dominate the market in the forecast period. Government support for quality healthcare, high purchasing power, availability of reimbursement, and increasing prevalence of cancers in the region are some of the major factors driving the growth of the market.
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Prominent players operating in the market are Merck & Co. Inc., Cell Medical Ltd., Chimerix, Inc., Affymetrix, Inc., Abbott Laboratories, Inc., Becton, Dickinson and Company, Johnson & Johnson, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd. and others. Competitors are developing new technologies to retain their foothold in the global market. For instance, in 2017, Merck & Co., Inc. started pivotal Phase 3 clinical study of letermovir. It is an antiviral investigational drug for treating clinically significant cytomegalovirus Infection. In January 2018, Shire received FDA approval for its Breakthrough Therapy Designation to maribavir. It is company’s Phase III investigational drug for the treatment of cytomegalovirus (CMV) infections, which is resistant to prior therapy. If approved, maribavir will join Prevymis in boosting the CMV therapeutics landscape after almost two decades of relative stasis.
Drug type is classified into cidofovir, foscarnet, valganciclovir, and ganciclovir. These are few of the most prescribed medication for the treatment of cytomegalovirus. Infection type includes retinitis, pneumonia, gastrointestinal ulcers, encephalitis and others.Distribution channel is divided into hospital pharmacies, retail pharmacies and online pharmacies. Hospital pharmacies are driving the market due to the easy availability of medication and increasing prescription patterns for the treatment of CMV.
Prominent players in the market are investing in R&D for the development of novel therapies and drugs to treat CMV infection. In addition regulatory bodies are giving more attention to novel drugs by giving faster approvals is also driving the market. Limited options of the treatment is restraining the growth of the market. However, increasing awareness related to herpes virus infections boosting the market growth.
About the report:
The global cytomegalovirus treatment market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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