Global Herpes Simplex Virus (HSV) Treatment Market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing aging population and increased cases of diseases like Herpes Simplex infection and HIV. Additionally, the growing usage of unhygienic practices in emerging countries, along with rising investments in research and development activities, have significantly increased the demand for herpes simplex virus treatment across different parts of the globe. Moreover, the growing demand for efficient treatment for rare conditions is further expected to increase the demand for herpes simplex virus treatment, thereby fuelling market growth through 2028. Besides, growing awareness about the advantages of using new treatments, along with increasing healthcare expenditure on HSV treatment across the globe, is further expected to support the herpes simplex virus treatment market during the forecast period.
Increasing prevalence of HSV Infection
The increasing prevalence of Herpes Simplex Virus infection, along with the increasing rate of hospital-acquired infection and rapid mutations in the microorganism leading to new strains, are the major factors that will drive the growth of the market during the forecast period. Furthermore, the increasing transmission of infectious disease and lack of cleanliness in underdeveloped and developing regions are further propelling the herpes simplex virus infection treatment market during the forecast period. According to the World Health Organization, more women are infected with HSV-2 than men. In 2012, an estimated 267 million women and 150 million men were living with the infection. The rising burden of HSV encephalitis is expected to propel the market in this segment. As per the National Organization for Rare Disorders, the prevalence of acute encephalitis in the U.S. is around 2,000 cases per year, and it includes around 10% of total cases of encephalitis occurring in the U.S. Additionally, the rising focus on drug development, increasing demand for precision medicine along with high adoption of home care settings and point-of-care diagnostics, growing investments in research and development activities are expected to drive global market growth during the forecast period.
Growing Healthcare Expenditure
The pharma and healthcare sector are rapidly growing with technological innovations, increasing healthcare spending, and improving healthcare facilities and systems, which is expected to create lucrative growth during the forecast period. Many hospitals, ambulatory surgical care centers, and clinics are adopting advanced devices and equipment across the globe, which will enhance the growth of the market. Increasing initiatives and increasing collaborations between research organizations are facilitating the development of novel treatment alternatives against viruses, which is expected to boost market growth during the forecast period. In January 2020, a research collaboration between scientists from the EPFL in Lausanne, Switzerland, the University of Geneva (UNIGE), and the University of Manchester led to the development of novel antiviral materials, virucides, made from sugar that show promise for the treatment of herpes simplex (cold sore virus).
Market Segmentation
The global Herpes Simplex Virus (HSV) Treatment Market can be segmented by virus type, treatment, route of administration, distribution channel, and by region. Based on the virus type, the market can be divided into HSV-1 v/s HSV-2. Based on treatment, the market can be divided into Drugs v/s Vaccines. Based on the route of administration, the market can be differentiated into Oral, Intravenous, and Topical. Based on distribution channel, the market can be segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated the global herpes simplex virus treatment market on account of the growing demand for treatments due to the increasing prevalence of herpes simplex virus infection.
Market Players
Novartis International AG, GlaxoSmithKline, plc., Sanofi SA, Mylan N.V., Emcure Pharmaceuticals Ltd., Glenmark Pharmaceuticals Inc., Fresenius Kabi AG, Apotex Inc., Viatris Inc., Teva Pharmaceuticals Industries Ltd are some of the leading players operating in the Global Herpes Simplex Virus (HSV) Treatment Market.
Report Scope:
In this report, Global Herpes Simplex Virus (HSV) Treatment systems market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook