by Herpes simplex virus (HSV) infects epithelial and mucosal surfaces and establishes latency in the nervous system. The symptoms include oral and genital lesions. Some experience mild to severe recurring symptoms that require lifelong antiviral suppressive therapy. The global herpes simplex virus treatment market is estimated to be valued at US$ 2735.73 Bn in 2023 and is expected to exhibit a CAGR of 11 % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of herpes simplex virus across the globe is driving the growth of the herpes simplex virus treatment market. As per the WHO, around 3.7 billion people under age 50 (67%) have HSV-1 infection globally. It is estimated that around 490 million people aged 15-49 years worldwide have HSV-2 infection. The high infection rate coupled with lack of a vaccine to prevent herpes virus infection is propelling the demand for anti-viral drugs for herpes simplex virus treatment. Moreover, rising awareness regarding herpes treatment options and supportive government initiatives are also contributing to the growth of the market. However, the social stigma associated with genital herpes infections and expensive treatment cost may hamper the market growth.
SWOT Analysis
Strength: The herpes simplex virus treatment market is growing significantly owing to the increasing prevalence of herpes infections. The market has several treatment options available such as antiviral drugs, vaccines, etc.
Weakness: High cost of treatment is a major constraint for many patients. Lack of awareness about herpes infections in underdeveloped regions is also a challenge.
Opportunity: Growing awareness initiatives by government & private organizations present an opportunity to diagnose more cases early. Investments in vaccine development can boost the market growth in long run.
Threats: Threat from alternative treatment methods such as herbal medicines. Potential side effects of few existing drugs also pose a threat.
Key Takeaways
The Global Herpes Simplex Virus Treatment Market Demand is expected to witness high growth during the forecast period of 2024 to 2031.
Regional analysis: North America dominates the market currently owing to high adoption of therapies and growing incidence rates. Asia Pacific is expected to grow at fastest pace on back of improving access to diagnosis & treatment in countries like India and China.
Key players operating in the herpes simplex virus treatment market are Tata Steel, BlueScope Steel Limited, Carlisle Syntec Systems, Ideal Roofing, ATAS International, Kingspan Group, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co. Ltd., Drexel Metals Inc., and Reed’s Metals. These players are focused on introducing advanced and affordable treatment options to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
