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Herpes Zoster Ophthalmicus Market

Herpes Zoster Ophthalmicus Market By Route of Administration (Injectable, Oral, Topical), Treatment Type (Topical Corticosteroids, Oral Antivirals), Distribution Channel (Online Stores, Hospitals Pharmacies, Drug Stores, Retail Stores) & Region - Forecast 2022-2032

Market Insights on Herpes Zoster Ophthalmicus covering sales outlook, demand forecast & up-to-date key trends

Herpes Zoster Ophthalmicus Market Overview

The global herpes zoster ophthalmicus market size is expected to grow at a steady CAGR of 2.9% in the forecast period from 2022 to 2032. It is set to be valued at US$ 4.7 Billion in 2022 and US$ 8.2 Billion in 2032. The surging geriatric population across the globe is anticipated to fuel the sales of herpes zoster ophthalmicus drugs in the upcoming years.

Report Attribute

Details

Herpes Zoster Ophthalmicus Market Estimated Base Year Value (2021)

US$ 3.1 Billion

Herpes Zoster Ophthalmicus Market Expected Market Value (2022)

US$ 4.7 Billion

Herpes Zoster Ophthalmicus Market Anticipated Forecast Value (2032)

US$ 8.2 Billion

Herpes Zoster Ophthalmicus Market Projected Growth Rate (2022-2032)

2.9% CAGR

Herpes zoster ophthalmicus also known as shingles, is a viral disease that causes unilateral painful skin rash in the fifth cranial nerve that is shared by the ocular adnexa and the eye. It mainly occurs in older adults after the reactivation of Latent Varicella-Zoster Virus (VZV) which is present in the cerebral or sensory spinal ganglia.

It negatively affects the immune system of the host and the incidence of this condition grows with age. Thus, it is commonly found in people over the age of 60 years.

Several cases of this disease showcase a prodromal period of eye pain, fever, headache, and malaise before the eruption of the skin rash. A shingles vaccination is recommended by healthcare institutions for the geriatric population suffering from this condition.

Which are Some Prominent Drivers Spearheading Herpes Zoster Ophthalmicus Market Growth?

The increasing awareness about the usage of varicella vaccine among people is a major factor that is set to drive the demand for herpes zoster ophthalmicus drugs. The rising number of immunization programs conducted by government bodies in various countries free of cost is another factor that is projected to bode well for the market.

The emergence of numerous oral medications, such as anti-inflammatory and antiviral drugs is expected to propel the market. Many pharmaceutical companies are also conducting extensive research and development activities to come up with new medications.

In February 2022, for instance, the New England Journal of Medicine published that Oka/Merck VZV, a novel zoster vaccine is capable of lowering the morbidity from postherpetic neuralgia and herpes zoster in older patients. Spurred by the aforementioned factors, the market is estimated to grow at a steady pace in the future years.

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What are the Challenges Faced by the Herpes Zoster Ophthalmicus Industry?

Weak imbursement coverage, especially in emerging economies may hamper the sales of herpes zoster ophthalmicus drugs in the assessment period. Start-up companies may not always be able to afford technologically advanced healthcare equipment, which can negatively affect the market. The lack of skilled healthcare professionals to provide vaccines to patients is another factor that may hinder the growth in this market.

Why is North America Emerging as an Opportunistic Herpes Zoster Ophthalmicus Market?

The rising prevalence of cancer among the older population in the U.S. is estimated to boost the North America herpes zoster ophthalmicus market growth in the evaluation period. Individuals suffering from cancer are at a high risk of developing herpes zoster ophthalmicus as radiation and chemotherapy can rapidly decrease immunity.

In addition to that, people who have had chickenpox in the past can develop this disease. According to Boston Children’s Hospital, around 4,000,000 people get chickenpox every year and nearly 95% of American adults have had chickenpox in the past. These numbers are set to surge in future, thereby bolstering the market in North America.

Sabyasachi Ghosh
Principal Consultant
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How is Asia Pacific Contributing to Growth of the Herpes Zoster Ophthalmicus Market?

The rising government initiatives to promote healthy lifestyle in emerging economies, such as India and China are anticipated to spur the Asia Pacific herpes zoster ophthalmicus market share. The ongoing development of cutting-edge healthcare facilities equipped with skilled medical professionals is also likely to augur well for the market.

The increasing number of R&D activities conducted by prominent players across Asia Pacific to develop new vaccines and drugs to keep patients healthy is set to fuel the growth. Most of these players are striving to launch new medications to reduce hospitalization of patients, which is projected to positively impact the regional market.

Market Competition

Some of the prominent companies operating in the global herpes zoster ophthalmicus market include SteriMax, Abbott, Apotex Inc., Cipla Limited, Novartis International AG, Fresenius Kabi AG, Foamix Ltd., GlaxoSmithKline plc., Merck & Co., TEVA Pharmaceuticals, Cadila Pharmaceuticals, and Mylan N.V. among others.

The global market is moderately fragmented with the presence of a handful of dominant companies. Majority of these companies are focusing on broadening their businesses in the fast-growing and developed markets. To do so, they are consistently launching innovative drugs to meet the high demand from patients worldwide. A few other key players are engaging in mergers and acquisitions to strengthen their positions in this market.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 2.9% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Route of Administration
  • Treatment Type
  • Distribution Channel
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • SteriMax
  • Abbott
  • Apotex Inc.
  • Cipla Limited
  • Novartis International AG
  • Fresenius Kabi AG
  • Foamix Ltd.
  • GlaxoSmithKline plc.
  • Merck & Co.
  • TEVA Pharmaceuticals
  • Cadila Pharmaceuticals
  • Mylan N.V.

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Key Segments Profiled in the Herpes Zoster Ophthalmicus Industry Survey

By Route of Administration:

  • Injectable
  • Oral
  • Topical

By Treatment Type:

  • Topical Corticosteroids
  • Oral Antivirals

By Distribution Channel:

  • Online Stores
  • Hospitals Pharmacies
  • Drug Stores
  • Retail Stores

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

The global herpes zoster ophthalmicus market is projected to exceed US$ 8.2 Billion by 2032.

North America is set to dominate the herpes zoster ophthalmicus market.

SteriMax, Abbott, Apotex Inc., Cipla Limited, Novartis International AG, Fresenius Kabi AG, Foamix Ltd., GlaxoSmithKline plc., and Merck & Co. are some of the prominent manufacturers of herpes zoster ophthalmicus drugs.

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Sabyasachi Ghosh
Principal Consultant
LinkedIn
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