July 19, 2024

Rising Pharmaceutical Interventions Anticipated to Open up New Avenues for Smallpox Treatment Market

The Smallpox Treatment Market is estimated to be valued at US$ 68.7 Mn in 2023 and is expected to exhibit a CAGR of 1.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Smallpox is a contagious and fatal disease caused by variola virus. The disease is characterized by high fever and body aches followed by distinctive skin eruptions that progress to raised bumps filled with fluid. Once the bumps scab and fall off, they leave scars on the skin surface. While smallpox was officially declared eradicated in 1980 by WHO, there is always a risk of the virus being used for bioterrorism. Hence, development of safe and effective treatments for smallpox remains an important public health priority. Currently, antiviral drugs such as tecovirimat are the primary line of treatment in preventing and controlling smallpox disease progression.

Market Dynamics:

There are two primary drivers expected to contribute to the growth of smallpox treatment market over the forecast period. First, the threat of smallpox virus being weaponized for bioterrorism purposes has motivated governments worldwide to stockpile therapeutic drugs and vaccines. Increasing R&D investments by key players to develop next-generation smallpox therapeutics, with improved safety and efficacy profiles, will further strengthen national biodefense preparedness programs. Second, rising incidence of new viral diseases such as monkeypox has renewed research focus on orthopoxviruses including development of pan-orthopox antiviral drugs. While monkeypox outbreaks remain geographically isolated, success in monkeypox therapeutic development may accelerate progress for smallpox therapeutics as well. These factors will likely propel market players to introduce novel treatment options, thereby driving sustained demand over the forecast period.

Segment Analysis

Content: The smallpox treatment market can be segmented into vaccination and antiviral drugs. The vaccination segment currently dominates the market due to the strong preference for vaccination among healthcare professionals and patients to prevent smallpox infection. Vaccination offers lifelong immunity against smallpox and is predominantly recommended by healthcare agencies globally.

PEST Analysis

Political: Government initiatives to raise awareness about smallpox prevention and control positively impact market growth. Economic: Increasing healthcare budgets and high demand for vaccination in emerging nations support market revenue. Social: Rising prevalence of smallpox and growing requirement for cost-effective treatment options drive the market. Technological: Advancements in vaccination technologies aid market players improve product efficacy and safety profiles.

Key Takeaways

The Global Smallpox Treatment Market Size is expected to witness high growth, exhibiting CAGR of 1.8% over the forecast period, due to increasing awareness about infectious disease treatment. North America is expected to dominate the global market over the forecast period due to growing prevalence of smallpox infections in the region.

Key players operating in the smallpox treatment market are SIGA Technologies Inc., Bavarian Nordic A/S, Takeda Pharmaceutical Company Limited, Johnson & Johnson, Emergent BioSolutions Inc., Novartis International AG, GlaxoSmithKline plc, Sanofi Pasteur SA, Merck & Co. Inc., Pfizer Inc., Bharat Biotech International Ltd., BioCryst Pharmaceuticals Inc., Chimerix  Inc., Nanotherapeutics Inc., Bavarian Nordic A/S. Regional analysis: Asia Pacific is projected to be the fastest growing market for smallpox treatment during the forecast period due to the increasing burden of infectious diseases and rising healthcare expenditure in countries such as India and China. Key players: SIGA Technologies Inc., Bavarian Nordic A/S, Takeda Pharmaceutical Company Limited, Johnson & Johnson, Emergent BioSolutions Inc., Novartis International AG, GlaxoSmithKline plc, Sanofi Pasteur SA, Merck & Co. Inc., Pfizer Inc., Bharat Biotech International Ltd., BioCryst Pharmaceuticals Inc., Chimerix  Inc., Nanotherapeutics Inc., Bavarian Nordic A/S.

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