Manufacturers to Focus on Introducing Cheaper Drugs for Genital Herpes Treatment in the Coming Years: FMI

Jul 12,2021 | Healthcare

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.

Genital Herpes Treatment Market

A recent market study published by Future Market Insights on the genital herpes treatment ...

Genital Herpes Treatment Market

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.

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.

 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.

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.

About the Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.