Cytomegalovirus Treatment Market Recorded Strong Growth in 2028; COVID-19 Pandemic Set to Drop Sales
The cytomegalovirus treatment market is poised to grow at an impressive y-o-y of over 5.5% in 2019, as per the latest research study published by FMI. A cohort of macro factors, including rapid adoption of innovative treatment procedures and burgeoning investments in healthcare, are auguring well for the wide-spread adoption of cytomegalovirus treatment. These insights are per the latest FMI research study that conveys a healthy outlook for global cytomegalovirus market in 2019 and beyond.
Patient pool affected by cytomegalovirus is on a consistent rise, necessitating adoption of effective treatment methods and therapies. As per a revelation by the MedlinePlus, between 50 percent and 80 percent of adults in the US have suffered from cytomegalovirus by the age of 40. Statistics as such demonstrate augmented adoption of cytomegalovirus treatment products and procedures in the future, creating sustained opportunities for the manufacturers to reap sizeable revenues.
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As per the FMI report, demand for valganciclovir drug continues to be buoyant on account of effective results if taken at evenly spaced intervals, with global sales likely to surpass US$ 55.5 Mn in 2019. In addition to this, valganciclovir is less time-consuming and affordable, which is further adding to its popularity in the cytomegalovirus treatment space.
“The drug development framework for treatment of cytomegalovirus continues to be progressive, offering ample scope for development of new products and procedures. There are multiple clinical trials being performed for cytomegalovirus treatment worldwide, led by prominent regions including Europe and North America. The late-stage pipeline comprises exceptional drugs which are envisioned to enter the market. This, in turn, is likely to create favorable scenario for cytomegalovirus treatment market over the forecast period”, says FMI report.
Hospital Pharmacies Remain Highly Lucrative Channel for Manufacturers with Notable ROI Benefits
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As per the report, congenital CMV infection registers substantial demand for cytomegalovirus treatment, with global sales expected to surpass over US$ 65.5 Mn in 2019. Hospital pharmacies are likely to steer sales of cytomegalovirus treatment products and procedures, owing to reliable offerings at reasonable costs. The well-informed and modern patients seek a combination of efficiency with convenience, which is making e-commerce a rapidly growing distribution channel for manufacturers to commercialize their offerings.
As per the report, high cost of cytomegalovirus treatment procedures remains a key factor hampering adoption and deterring market’s growth potential. Along with high prices, associated side effects of cytomegalovirus treatment products and procedures are denting end-user confidence. Some of the prevalent side effects associated with cytomegalovirus treatment products and procedures include neutropenia, nausea, thrombocytopenia, hematological toxicity, renal dysfunction, and so on.
Manufacturers in the cytomegalovirus treatment market are focusing on novel developments, resulting in upgraded products with ameliorated functionalities. The market players are also focusing on product availability in varying size dimensions for increased convenience of end-users.
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The cytomegalovirus treatment market is witnessing a series of strategic partnerships, acquisitions, and mergers, which enables the manufacturing companies to offer viable offerings by combining their production expertise. For instance, Johnson & Johnson completed the acquisition of Ci:z Holdings Co., Ltd. in 2019 for expanding its exclusive portfolio of science-based dermocosmetic beauty products.
The FMI report profiles prime opportunities in the cytomegalovirus treatment market for the forecast period of 2018 to 2028. According to the report, the cytom
egalovirus treatment market is expected to proliferate at a CAGR of over 6% through 2028.
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