by Herpes simplex virus (HSV) refers to a group of viruses that cause herpes, a contagious viral infection. There are two types of HSV – HSV-1 which generally causes cold sores around the mouth and lips, and HSV-2 which generally causes genital herpes. The treatment options for HSV infections include antiviral drugs such as acyclovir, famciclovir and valacyclovir which help in reducing symptoms and frequency of outbreaks. Other treatments include topical pain relief creams and anti-itch medications.
The Herpes Simplex Virus Treatment Market is estimated to be valued at US$ 2374.76 Mn or Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the herpes simplex virus treatment market is driven by the increasing prevalence of HSV-1 and HSV-2 infections globally. As per the latest estimates, around 3.7 billion people under age 50 (67%) have HSV-1 infection globally. Furthermore, around 417 million people aged 15-49 years worldwide have HSV-2 infection. Therapeutics such as antiviral drugs help in reducing the severity and duration of symptoms associated with HSV infections and decreasing the frequency of recurrences. Additionally, rising awareness about available treatment options coupled with high effectiveness of antiviral drugs in controlling HSV outbreaks is also propelling the market growth. However, the availability of generic substitutes for branded drugs and social stigma associated with herpes infections may hamper the market growth.
Segment Analysis
The herpes simplex virus treatment market can be segmented based on type of infection, drug class, and distribution channel. Based on type of infection, it is segmented into HSV-1 and HSV-2, where the HSV-1 segment dominates currently as it is more common and less stigmatized. By drug class, the market is classified into antivirals and analgesics. The antivirals segment accounts for the largest share as antiviral drugs are the primary treatment choice for HSV infections. Some of the commonly used antivirals are acyclovir, valacyclovir, and famciclovir. Based on the distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Retail pharmacies hold the major share owing to higher patient preference and prescription volumes handled by them.
PEST Analysis
Political: Regulations regarding drug approvals and generic drugs impact the market. Harmonization of regulations can increase market access globally.
Economic: Rising income levels in developing nations increase healthcare affordability and demand. Recovery of global economy post-pandemic will boost market growth.
Social: Increasing awareness reduces stigma related to STDs, aiding treatment seeking. Lifestyle changes make populations more susceptible to infections.
Technological: Advancements in drug delivery methods aid patient adherence. E-commerce opens new opportunities for online sales and accessibility.
Key Takeaways
The Global Herpes Simplex Virus Treatment Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing prevalence of HSV infections driven by changing lifestyles and sexual behaviors.
Regionally, North America currently dominates the market followed by Europe owing to developed healthcare infrastructure and high awareness levels. However, Asia Pacific is expected to witness the fastest growth owing to improving access to healthcare facilities, rising medical tourism, and increasing discretionary spending on healthcare in major emerging economies like India and China.
Key players operating in the herpes simplex virus treatment market are Fresenius SE & Co. KgaA, Glenmark Pharmaceuticals, Carlsbad Tech, GlaxoSmithKline PLC, Zydus Cadila, Epi Health LLC, Viatris Inc., Apotex Inc., Teva Pharmaceuticals Industries Ltd., and Emcure Pharmaceuticals Ltd (Avet Pharmaceuticals Inc.), among others. Major players are focusing on developing advanced treatment formulations including topical gels and long-acting antivirals to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
