Genital herpes is a common sexually transmitted disease. With the increase in population in various regions, there is also an increase in the rate of health problems around the world. With the growth of the disease rate, the treatment markets are also expected to grow exponentially.
With regard to sexually transmitted diseases such as genital herpes, the treatment market includes different types of drugs such as acyclovir, valacyclovir, and famciclovir. Indications for genital herpes include HSV-1 and HSV-2.
According to the market forecast given in the report, the global genital herpes treatment market is expected to rise and reach a market size of over USD 2881.8 million by the end of 2031. The market is expected to register a CAGR of 4.5% during the forecast period 2021-2031.
Market growth is primarily driven by increased government spending on the healthcare industry. Many countries are focusing on the prevention of infectious diseases which in turn has a positive impact on the herpes drug market resulting in high demand from local governments and third party payers.
Genital Herpes Treatment Market Forecast for 2016 – 2020 Compared to 2021 – 2031 Forecast
Genital herpes cases are increasing in the Western Hemisphere, especially in the United States, the United Kingdom, and Germany. The Centers for Disease Control and Prevention states that one in six people in the United States between the ages of 14 and 49 has genital herpes.
Increased demand for genital herpes treatment will create prospects for market expansion. FMI reports that the genital herpes treatment market has shown a modest 4% CAGR growth in the past five years.
The rising incidence of genital herpes in countries in Asia such as China and India will lead to more growth opportunities in the market. The growth trend will continue in response to increased healthcare spending in emerging economies.
The development of a genital herpes vaccine is on the table because pharmaceutical market leaders are focused on developing new drugs and are also collaborating with research institutes for faster clinical trials and product development.
For example, Sanofi Pasteur, in collaboration with the National Institute of Allergy and Infectious Diseases, is currently developing a herpes vaccine called HSV529 (HSV15). The vaccine is classified as a replication defective virus which means that the virus possesses all components of HSV except for two important proteins UL5 and UL29, which are involved in viral DNA replication.
In March 2021, GlaxoSmithKline plc began a phase I human clinical trial of an experimental HSV-2 vaccine to study the interaction, safety, and immunogenicity of four different levels of the vaccine in healthy participants aged 18-40 years.
Rapid advances in the field of virology and increased investment towards modern medicine and development of curative therapy will boost the growth of the genital herpes treatment market globally over the next decade.
Global Genital Herpes Treatment Market: Trends and Opportunities
The global genital herpes treatment market may witness new market opportunities. Globally, the ever-increasing burden of herpes disease provides an opportunity for the diagnostic and treatment market.
According to the World Health Organization, in 2016, about 67% of the world’s population (3.7 billion) under the age of 50 had HSV-1 infection. This represents a significant growth of the global HSV treatment market during the forecast period. Similarly, about 13% of the world’s population (491 million people) under the age of 50 live with HSV-2 infection as of 2016.
Companies are also trying to offer cost-effective treatment methods. The new vaccines provide complete protection against a variety of HSV1 and HSV2 strains. Companies are increasing research and development activities for the treatment and prevention of genital herpes. Most companies focus on approval and release of generic drugs in underdeveloped countries to provide low-cost drugs for the treatment of genital herpes.
Global Genital Herpes Treatment Market: Key Points of Segmental Analysis
The Middle East and Africa region is expected to become the most lucrative region in the industry. With the increase in sexually transmitted diseases in the region, the demand for genital herpes treatment is also expected to rise.
Regional analysis shows that the Middle East and Africa region will witness a robust compound annual growth rate (CAGR) of 5.2% during the forecast period in the global genital herpes treatment market. Based on the route of oral administration is the main segment, with the highest growth rate and highest market share in the global genital herpes treatment market.
Among the various distribution channels, retail pharmacies have the largest volume in the market, but this segment is lagging behind in terms of growth rate. With the growth of online marketing and e-commerce, online pharmacies are 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. and Abbott Laboratories and Sun Pharmaceuticals Industries Ltd. and Mylan NV and Pfizer Inc. and GlaxoSmithKline plc. and Dr. Reddy’s Laboratories, ltd., Novartis AG, Valeant Pharmaceuticals International Inc. , etc.
Major Segments Covered in Genital Herpes Treatment Market Study
- Hospital pharmacies
- Retail pharmacies
- Internet pharmacies
- drug stores
Major regions/countries covered:
- North America
- Latin america
- Western Europe
- Eastern Europe
- Asia Pacific Ex. Japan (APEJ)
- Middle East and Africa