Global Monkeypox Treatment Market to Reach US$249 Million by 2033, Tecovirimat Accounting for 61% of All Therapies: Future Market Insights, Inc.
The Asia Pacific monkeypox treatment market is expected to witness the fastest growth of 11% during the forecast period. North America is one of the most lucrative regions for the monkeypox treatment market
DUBAI, UAE, Jan. 26, 2023 (GLOBE NEWSWIRE) – A recent report on future market insights on Monkeypox market Demand is expected to grow at a compound annual growth rate of 10.25% from 2023 to 2033. According to the results, the market is expected to reach $249 million by the end of the said forecast period. Increasing product approvals in the treatment of monkeypox are expected to drive the global monkeypox treatment market during the forecast period. For example, according to the US Food and Drug Administration, on August 9, 2022, Bavarian Nordic, a fully integrated vaccine company focused on developing, manufacturing and marketing life-saving vaccines, announced that its Jynneos vaccine had received US food. and FDA approval as an emergency treatment option for the growing monkeypox disease.
There are many stocks of antiviral drug makers, vaccine producers, and manufacturers of protective equipment in demand as investors play a strategy that has proven very beneficial during the pandemic. Currently, Bavarian Nordic A/S biotechnology company and pharmaceutical company Siga Technologies Inc. Among the growing stocks that are in focus along with medical device suppliers- Precision System Science all these factors are expected to drive growth in the forecast period.
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Increased investments in research and development activities, increased government support for vaccination programmes, and increased awareness are fueling growth opportunities for the market. For example, there are currently two vaccines developed that can be used to prevent monkeypox disease. One is the JYNNEOS vaccine approved to prevent monkeypox and smallpox. Another vaccine is the ACAM2000 vaccine approved for vaccination against smallpox. This vaccine was made available for the treatment of monkeypox patients under the Expanded Access Investigational New Drugs protocol. This is expected to boost the market growth during the coming period.
To date, only six therapeutics/vaccines, ACAM2000®, IMVANEX®/JYNNEOS®/IMVAMUNE® and Cidofovir/Vistide, have received approval or been granted special access for the treatment/prevention of monkeypox virus infection. In addition, more than 20 monkeypox treatments and vaccines are in development and expected to fuel growth over the forecast period. v However, scarcity of qualified and skilled personnel who are not able to treat patients with appropriate therapies could hinder the growth of the monkeypox market during the forecast period.
Key takeaways from the market study
North America is expected to dominate the industry while reaching a market share of around 48% by the end of the forecast period.
The market in Asia Pacific is expected to reflect the fastest growing CAGR of 11% over the forecast timeline.
By type of processing, tecovirimat is expected to capture 61% of the market share by the end of the forecast period.
By route of administration, the oral segment is expected to account for 70% of the market share by the end of 2033.
“Rapid product approvals and increased investments in healthcare infrastructure will drive market growth in the forecast period,” commented an FMI analyst.
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The global monkeypox treatment market is highly competitive owing to a large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are expected factors for increased 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. Ltd., Emergent Pharmaceuticals, Gilead Sciences, Inc. Hetero, Piramal Pharma Solutions.
Major players in the market are focusing on adopting inorganic growth strategies such as acquisitions, partnerships and collaborations in order to improve their product portfolio. This is expected to drive the global monkeypox treatment market.
For example, in 2021 SIGA, a commercial-phase pharmaceutical company focused on the health security market, announced that it had entered into a collaboration with the University of Oxford in the United Kingdom to provide “tecovirimat” to treat individuals with monkeypox disease in the Central African Republic. . (camel).
In July 2022, Bavarian Nordic A/S announced that the company had received an additional order for 2.5 million doses of JYNNEOS from US BARDA..
In August 2022, the U.S. Food and Drug Administration authorized emergency use of the injectable JYNNEOS intradermal vaccine for healthcare professionals 18 years of age or older who are determined to be at increased risk of monkeypox infection..
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More valuable insights available
Future Market Insights provides an unbiased analysis of the global Monkey Pox Treatment market, provides historical data on 2018-2022 and forecast statistics from 2023-2033.
To understand the opportunities in the monkeypox treatment market, the market is segmented on the basis of treatment (preventive – vaccines, curative – tecofermat, brincidofovir, cidofovir) by administration (oral, injection) by distribution channel (retail pharmacies, hospital pharmacies online pharmacies) by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
The main sectors identified in the file Monkeypox Processing industry survey
By type of treatment:
Preventive – vaccinations
By route of administration:
By distribution channel:
Middle East and Africa
1. Executive Summary | Monkeypox market
1.1 Global Market Outlook
1.2 Demand Side Trends
1.3 Supply-side trends
1.4 Technology Roadmap Analysis
1.5 Analysis and recommendations
2. Market overview
2.1. Market coverage/classification
2.2. Market definition/scope/constraints
3. Market background
3.1. Market dynamics
3.2 Scenario Predictions
3.2.1. demand in the optimistic scenario
3.2.2. demand in the likely scenario
3.2.3. demand in the conservative scenario
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About the healthcare division of Future Market Insights
The healthcare team at Future Market Insights provides expert analysis, timely research and strategic recommendations with the goal of providing original insights and accurate results to help clients around the world. With a repertoire of more than 100 reports and over a million data points, the team has been visibly analyzing industry in more than 50 countries for over a decade. The team provides a brief analysis of key trends including the competitive landscape, profit margin, and research development efforts.
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