Genital Herpes Treatment Market will accelerate at 1.5x in next ten years reaching the market valuation of US$ 2881.8 Million by the end of 2031
According to the market projections given in the report, global genital herpes treatment market is expected to surge and reach a market size of over US$ 2881.8 Mn by the end of 2031. The market is expected to register a CAGR of 4.5% of during the forecast period of 2021-2031.
Genital herpes is a common sexually transmitted disease. With the increase in population of various regions, there is also an increase in the rate of health issues around the world. As the rate of diseases grow, the treatment markets are also expected to grow substantially.
With respect to sexually transmitted disease like genital herpes, its treatment market includes different drug types like Acyclovir, Valacyclovir and Famciclovir. The indication of genital herpes include HSV-1 and HSV-2.
The market growth is primarily driven by the increase government spending on healthcare industry. Various countries are focused on prevention of infectious diseases which in turn, has a positive impact over the herpes drugs market leading to its high demand from local governments and third-party payers.
Global Genital Herpes Treatment Market: Trends and Opportunities
The global genital herpes treatment market may witness new opportunities in the market. Globally, the increasing disease burden of herpes continuously provides an opportunity for the diagnostic and treatment market.
According to WHO, in 2016 around 67% of the world population (3.7 Bn) under the age of 50 were suffering from HSV-1 infection. This represents substantial growth of the global HSV disease treatment market over the forecast period. Similarly around 13% of the world population (491 Mn) under the age of 50 is living with HSV-2 infection as of 2016.
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The companies are also trying to introduce cost effective treatment methods. New vaccines provide complete protection against a variety of strains of HSV1 and HSV2. Companies are increasing research and development activities for the treatment and prevention of genital herpes diseases. Most of the companies are focusing on approval and launch of generic drugs in the undeveloped countries to provide low cost drugs for the treatment of genital herpes.
Global Genital Herpes Treatment Market: Key Highlights from the Segmental Analysis
MEA is expected to come up as the most lucrative region in the industry. With the rise in sexually transmitted diseases in the region, the demand for genital herpes treatment is also expected to rise.
Regional analysis shows that MEA will witness a robust CAGR of 5.2% during the forecast period in the global genital herpes treatment market. Based on the route of administration oral is the main segment, with the highest growth rate and highest market share in the global genital herpes treatment market.
Amongst various distribution channels, retail pharmacies hold the highest market size, but the segment lags behind in terms of growth rate. With the growth of online marketing and e-commerce, online pharmacies is the fastest growing segment which is expected to register a growth rate of 5.4% during the forecast period.
Global Genital Herpes Treatment Market: Top Companies
Some of the leading companies mentioned in the research report are Teva Pharmaceutical Industries Ltd., Abbott Laboratories, Sun Pharmaceuticals Industries Ltd., Mylan N.V., Pfizer Inc., GlaxoSmithKline plc., Dr. Reddy’s Laboratories, ltd., Novartis AG, Valeant Pharmaceuticals International Inc., etc.
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