April 13, 2024
Herpes Simplex Virus Treatment Market

Rising prevalence of herpes infections to boost growth of Herpes Simplex Virus Treatment Market  

Herpes simplex virus (HSV) causes infections that result in lesions or sores on or around the genitals, mouth, lips, and other areas of the body. There are two types of HSV viruses – HSV-1 which usually causes oral herpes or cold sores and HSV-2 which usually causes genital herpes. Currently available treatment options include antiviral drugs such as acyclovir, penciclovir, famciclovir, and valacyclovir which help reduce symptoms and shorten outbreaks. These antiviral drugs work by limiting the virus’ ability to multiply and spread to neighboring cells but do not completely eliminate the virus from the body. The treatment market is primarily driven by the growing prevalence of herpes infections globally.

The global Herpes Simplex Virus Treatment Market is estimated to be valued at US$ 2374.76 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 key trends:
One of the key trends in the herpes simplex virus treatment market is the rising incidence of genital herpes infections. According to the World Health Organization (WHO), around 3.7 billion people under age 50 (67% of the population) have HSV-1 infection globally. Another key trend is the development of novel therapeutic approaches and drugs with improved efficacy. Some companies are developing prophylactic therapies that could reduce the frequency and severity of outbreaks. DNA vaccines targeting immunological control and clearances are also under research. Vaccine research represents an opportunity for long-term treatment and prevention of herpes infections.
Porter’s Analysis

Threat of new entrants: The threat of new entrants in herpes simplex virus treatment market is low due to the presence of established pharmaceutical companies and requirement of high R&D investment for new drug development.

Bargaining power of buyers: The bargaining power of buyers is moderate as the industry has many established suppliers but the treatments are highly dependent on physician’s recommendations.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many raw material suppliers and need for high investment and time for drug development.

Threat of new substitutes: There is low threat of new substitutes due to lack of effective substitutes and complicated disease pathology.

Competitive rivalry: high.

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 herpes viruses globally.

Regional analysis: North America holds the largest share in the herpes simplex virus treatment market. This is attributed to the rising incidence of herpes infections, well-established healthcare infrastructure, and increasing R&D spending by key players. However, Asia Pacific is the fastest-growing region due to improving healthcare facilities, large patient pool, and growing healthcare expenditure.

Key players: 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. Fresenius and GlaxoSmithKline are the market leaders due to their wide product portfolio and global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it