The global monkeypox treatment market size was USD 70.8 Mn in 2022 and is likely to reach USD 240 Mn by 2031, expanding at a CAGR of 9% during 2023-2031. The growth of the market is attributed to the increasing prevalence of monkeypox infection, and the lack of awareness of the same.
Monkeypox (mpox) is a viral infection that spreads from animals to humans, hence it is called a zoonotic infection. The recent outbreak of mpox on May 6, 2022. The human mpox virus was initially identified in 1970 in the Democratic Republic of Congo. The source of the virus is unknown; however, the first six monkeypox cases were found in the UK. Fever, swelling in the lymph nodes, rashes on the skin, chills, muscle fatigue, headache, backache, and respiratory symptoms such as sore throat, cough, and congestion are the common symptoms of monkeypox infection. The virus is transmitted sexually or through touch. The disease has claimed the lives of some people. People with weak immunity, breastfeeding mothers, women during pregnancy, children below the age of 10 years, and people having prolonged exposure to the infected animal are susceptible to the viral infection.
Monkeypox has its roots in Africa; however, its cases have been found in other countries, including the US. According to the World Health Organization (WHO), monkeypox virus cases register that about 110 countries across the world. About 86,646 cases were confirmed by March 21, 2023, after the outbreak in May 2022.
Monkeypox Treatment Market Dynamics
Drivers
The outbreak of the monkeypox virus is driving the market, as this viral infection became prevalent in 2022. Rising demand for effective vaccines & drugs for preventive and curative measures for affected people is driving the market.
Growing number of people with weak immunity are prone to face serious repercussions of monkeypox infection. People suffering from autoimmune diseases and chronic diseases, such as COVID-19, have a weak immune system and are at risk of contracting monkeypox viral infection. This, in turn, is driving the market.
Restraints
Lack of awareness about monkeypox, in certain regions, and the approval of certain treatments is a major restraining the market.
Opportunities
Rising demand for the treatment of the monkeypox virus and increasing research being conducted to eradicate the virus entirely, have encouraged governments having to invest in genetic engineering to produce advanced vaccines are major market opportunities.
Scope of the Monkey Pox Treatment Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Monkeypox Treatment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Treatment (Vaccine, Drugs, and Topical Medication [gels, Creams, and Ointment]), Route of Administration (Oral, Injectable), End-use (Hospitals Pharmacy, Online Pharmacy, Retail Pharmacy)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Chimerix, Inc.; SIGA Technologies Inc.; Bavarian Nordic; Emergent; Gilead Sciences, Inc.; Piramal Pharma Solutions; Hetero; Sonofi SA; Jinan Jinda Pharmaceutical Chemistry Co., Ltd.; Emcure Pharmaceuticals
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Market Segment Insights
Based on treatment, the monkeypox treatment market is segmented into vaccines, drugs, and topical medication. The topical medications segment is divided into gels, creams, and ointment segments. The drugs segment held a major share of the market in 2022 due to a rise in the number of monkeypox-infected patients choosing drugs for therapeutic treatment purposes. Vaccines, on the other hand, are used to prevent one from getting infected. Thus, increasing awareness among the people is encouraging them to take preventive measures, which in turn, is expected to drive the segment during the projection period.
In terms of the route of administration, the market is bufurcated into oral and injectable. The oral segment held a major share of the market due to its affordable and easy-to-execute therapeutic route. Common drugs such as tecovirimat and brincidofovir are drugs taken orally. These drugs are popular, as they minimize the percentage of death threat for the patient and are proven to be an optimum medicine.
Injectable drugs boost the immunity of the patient, as they help provoke an immune response to fight against an antigen. The injectable route segment is expected to dominate the market during the projection period as it has a long-term effect and plays an integral role in boosting the immune system.
Based on end-use, the market is divided into hospital pharmacy, online pharmacy, and retail pharmacy. The hospital pharmacy segment is expected to hold a major share of the market during the forecast period, as most diseases are detected in hospitals and patients prefer to buy their medication from hospitals, and rising demand for therapeutic treatment in the hospitals.
On the basis of region, the global monkeypox treatment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major share of the market due to the rising number of infection cases in the region.
Asia Pacific is expected to hold a significant share of the market due to the increasing number of cases during the forecast period, as research & development studies are being conducted on the monkeypox virus in the region.
Segments
The monkeypox treatment market has been segmented on the basis of
Treatment
- Vaccine
- Drugs
- Topical Medication
Route of Administration
End-use
- Hospital pharmacy
- Online pharmacy
- Retail pharmacy
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Chimerix, Inc.
- SIGA Technologies Inc.
- Bavarian Nordic
- Emergent
- Gilead Sciences Inc.
- Piramal Pharma Solutions; Hetero
- Sonofi SA
- Jinan Jinda Pharmaceutical Chemistry Co. Ltd.
- Emcure Pharmaceuticals
Competitive Landscape
Key players in the global monkeypox treatment market are Chimerix, Inc.; SIGA Technologies Inc.; Bavarian Nordic; Emergent; Gilead Sciences, Inc.; Piramal Pharma Solutions; Hetero; Sonofi SA; Jinan Jinda Pharmaceutical Chemistry Co., Ltd., and Emcure Pharmaceuticals
These participants are constantly engaging in research & development to deliver advanced and affordable derivatives of a curative and preventive point of care to expand their business and adopting strategies such as mergers, collaboration, partnerships, and product launches to increase their global presence. For instance,
- In 2021, SIGA a pharmaceutical company, mainly focused on the healthcare industry, collaborated with the Oxford University, in the UK to treat monkeypox in the Central American republic (CAR) by providing tecovirimat, a drug that cures smallpox.
- In July 2021, Bavarian Nordic A/S received an order for ‘jynneos vaccine’ 2.5 million doses from Brada, US. This vaccine treats smallpox and mpox infections.
- In August 2022, Bavarian Nordic’s received the US FDA approval for the emergency usage of the JYNNEOS vaccine as an intradermal injectable for patience above 18 years of age and above.
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