The global Monkeypox Treatment Market is estimated to be valued at Us$ 82.86 Mn in 2023 and is expected to exhibit a CAGR Of 17.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Monkeypox treatment products target the viral infection caused by Monkeypox virus. The products help eliminate the symptoms associated with the infection which include fever, rashes, and lesions. With increasing cases of Monkeypox virus globally, demand for effective treatment options is growing rapidly.
Market key trends:
One of the key trends driving the growth of the Monkeypox treatment market is increasing research activities for development of novel treatment products. Monkeypox virus remains a critical public health issue requiring new drugs and vaccines. Several biotechnology and pharmaceutical companies are conducting clinical trials for monoclonal antibodies,nucleotide analogs, and other therapies to treat Monkeypox virus infections. For instance, Chimerix Inc. is developing a Phase 3-ready smallpox antiviral called Tembexa (Brincidofovir) which can potentially be used to treat Monkeypox virus. Such ongoing research and development initiatives are boosting the opportunities in the market.
Segment Analysis
The global monkeypox treatment market is segmented on the basis of product, route of administration, end-user and distribution channel. Based on product, the monkeypox treatment market is segmented into vaccine, antiviral drug and supportive care. The antiviral drug segment is dominating the market currently due to increasing approval and adoption of antiviral drugs for monkeypox treatment. The oral Tecovirimat is dominating the antiviral drug segment as it has received approval for treatment of monkeypox in United States and European countries.
Key Takeaways
The Global Monkeypox Treatment Market Size is expected to witness high growth, exhibiting CAGR of 17.5% over the forecast period, due to increasing cases of monkeypox globally.
The North American region is dominating the monkeypox treatment market currently and is expected to continue its dominance over the forecast period. Increasing research activities in the United States along with growing government initiatives for management of monkeypox infections is boosting the market growth in the region. Europe is also growing at a faster rate due to rising cases of monkeypox outbreaks across major European countries.
Key players operating in the monkeypox treatment market are SIGA Technologies Inc., Chimerix, Inc., Bavarian Nordic, Sanofi SA., Emcure Pharma, Jinan Jinda Pharmaceutical Chemistry Co., Ltd. Sanofi SA dominated the market currently due to commercialization of Imvamune smallpox vaccine which is effective against monkeypox. Chimerix, Inc.'s brincidofovir drug received approval from FDA for treatment of smallpox but is currently being studied for monkeypox treatment as well.
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