The global monkeypox treatment market is on a significant growth trajectory, expected to reach a valuation of USD 93.84 million in 2023 and projected to grow to USD 249 million by 2033. This represents a robust compound annual growth rate (CAGR) of 10.25% over the forecast period.
The rising demand for effective treatments, vaccinations, and therapeutics for rare diseases is a key factor propelling the growth of the monkeypox therapeutics market. While there is currently no specific treatment or defined pharmaceutical for monkeypox, symptomatic treatments are available. The increased demand for pain and itch relief caused by monkeypox-related boils and rashes is contributing positively to market growth. Furthermore, a surge in product approvals is anticipated to fuel the market expansion during the forecast period.
A notable development in this space is the approval of the Jynneos vaccine by the United States Food and Drug Administration (FDA). On August 9, 2022, Bavarian Nordic, a fully integrated vaccine company dedicated to the development, manufacturing, and commercialization of life-saving vaccines, announced that its Jynneos vaccine received FDA approval as an emergency drug for the treatment of the growing monkeypox disease. This approval is expected to significantly boost the market in the coming years.
The global monkeypox treatment market is set to witness substantial growth, driven by increasing demand for symptom relief, enhanced treatment options, and significant advancements in vaccine approvals. This market growth underscores the urgent need for effective therapeutics in combating the spread and impact of monkeypox.
Key Takeaways from the Market Study:
- North America is expected to dominate the industry while reaching market share of around 48% by end of the forecast period.
- The market in Asia-Pacific is projected to reflect fastest CAGR of 11% during the projected timeline.
- By treatment type, tecovirimat is projected to account for 61% market share by end of the forecast period.
- By route of administration, oral segment is expected to account for 70% market share by end of 2033.
“Rapid product approvals and surging investments in healthcare infrastructure will augment market growth in the forecast period,” comments an FMI Analyst
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Competitive Landscape:
The global Monkeypox treatment market is extremely competitive owing to presence of large number of players and innovative product offerings. Additionally, business expansion activities through partnerships and agreements are factors projected to further increase the competition. The major players in the market are:
- SIGA Technologies Inc.
- Chimerix, Inc.
- Bavarian Nordic
- Sanofi SA
- Emcure Pharmaceuticals
- Jinan Jinda Pharmaceutical Chemistry Co., Ltd
- Emergent Pharmaceuticals
- Gilead Sciences, Inc.
- Hetero
- Piramal Pharma Solutions
Key market players are concentrating on adoption of inorganic growth strategies such as acquisition, partnerships and collaboration in order to improve its product portfolio. This is anticipated to drive the global monkeypox treatment market.
- For instance, in 2021, SIGA, a commercial-stage pharmaceutical company concentrated on the health security market, declared that it entered into a collaboration with Oxford University In the U.K. to provide ‘tecovirimat’ to treat individuals suffered from monkeypox in the Central African Republic (CAR).
- In July 2022, Bavarian Nordic A/S declared that the company received an additional order for 2.5 million doses of JYNNEOS from the U.S. BARDA.
- In August 2022, the United States FDA authorised emergency use of JYNNEOS vaccine intradermal injectable for healthcare professionals over 18 years of age and older determined to be at higher risk of monkeypox infection.
Key Segments Profiled in the Monkeypox Treatment Industry Survey:
By Treatment Type:
- Prophylactic- Vaccines
- Therapeutic
- Tecovirimat
- Brincidofovir
- Cidofovir
By Route of Administration:
- Oral
- Injectable
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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