Monkeypox Treatment Market Growth

Increasing investment to drive monkeypox treatment market growth; reaching $4.8 million by 2035

 

According to a recently published report by Roots Analysis, post the global outbreak of the monkeypox disease in early 2022, there has been a surge in interest towards research for effective and safe vaccines / therapeutics intended for the management / treatment of disease symptoms.

Monkeypox Treatment Industry Overview

The global monkeypox treatment market is anticipated to witness significant decline as the epidemic entered low epidemic status in 2023; generating USD 4.8 million by 2035. Given the increase in research and development activity in this domain and the substantial financial assistance provided by public funding institutes, the monkeypox treatment market and diagnostic kits market is projected to grow at a steady pace in the near future.

There has been a growing demand for monkeypox vaccines, therapeutics and diagnostic kits owing to the surge in monkeypox cases in 2022, globally. With only a few vaccines and therapeutics that are currently approved or granted special access for the prevention / treatment of the disease, the existing demand for effective monkeypox vaccines and therapeutics is still unmet. Further, the approved vaccines are expensive, making it inaccessible to people in developing countries, where the disease is endemic.  
Point-of-care (POC) testing is very critical to contain an outbreak to ensure timely isolation and enable contact tracing of infected individuals.  Considering the demand for diagnostic solutions for monkeypox virus, and the associated financial opportunity, multiple small and large  players are competing to gain a foothold in this market.

Browse 115+ figures and 125+ market data tables spread across 180+ pages and detailed Table of Content on “Monkeypox Treatment Market by Type of Product, Drug Developers, Drug Candidates, Type of Diagnostic Kit, Type of End User and Key Geographical Regions” here: https://www.rootsanalysis.com/reports/monkeypox-treatment-market.html

Market Drivers

More than 70 countries across the world reported cases of monkeypox, with the maximum cases being reported in non-endemic regions. This outbreak has posed the risk of monkeypox virus spreading beyond endemic areas. Consequently, governments have undertaken several initiatives to increase awareness about monkeypox disease. Big pharma players are carrying out initiatives to strengthen their respective product portfolios focused on monkeypox disease. The growing cases of monkeypox disease and availability of limited number of therapeutics / vaccines / diagnostic solutions are the key factors driving the growth of this market.

Market Restraints

One of the primary restraints associated with the monkeypox market is the declining number of cases across the world. Additionally, there is a lack of awareness and knowledge about this disease, and the approval rate of specific therapeutic treatments is also slow which further restrains the monkeypox treatment market.

Growth Factors

The factors that are currently impacting the growth of monkeypox treatment market is the unavailability of specific treatment options for monkeypox virus; additionally, recent declaration of this disease as public health emergency of international concern by the WHO has encouraged research and development of novel intervention in this domain. Several drug candidates and vaccines are being evaluated as therapeutic / preventative agents for the treatment or prevention of monkeypox; therefore, this is an evolving area of research within the orthopox virus causing diseases domain.

Monkeypox Treatment Market Segments

Based on the type of product, the market is segmented into Therapeutics and Vaccines.

• The vaccines segment led the market for monkeypox treatment market, capturing the largest revenue share of more than 95% in 2022.

Based on the drug developer, the market is captured by Bavarian Nordic, Emergent Biosolutions, KM Biologics and SIGA Technologies.

• Bavarian Nordic led the market for monkeypox treatment market, capturing the largest revenue share of more than 90% in 2022.

Based on the drug candidate, the market is segmented into JYNNEOS, ACAM2000, Vaccinia Immune globulin Intravenous (VIGIV), CNJ-016, LC16KMB and Tecovirimat.

• JYNNEOS led the market for monkeypox treatment market, capturing the largest revenue share of more than 90% in 2022.

Based on the type of diagnostic kit, the market is segmented into PCR Kit, Antigen Detection Kit, Antibody Detection Kit.

• The PCR kits segment led the market for monkeypox diagnostic kits market, capturing the largest revenue share of more than 70% in 2022.

Based on the type of end user, the market is segmented into Hospitals and Clinics, Diagnostic Laboratories, and Other Users.

• The hospitals and clinics segment led the market for monkeypox diagnostic kits market, capturing the largest revenue share of more than 50% in 2022.

Based on Regional Insights, the market is segmented into North America, Europe and Asia-Pacific and Rest of the World.

• Amongst key geographical regions, North America led the market for monkeypox treatment market, capturing the largest revenue share of more than 60% in 2022.
• Amongst key geographical regions, Europe led the market for monkeypox diagnostic kits market, capturing the largest revenue share of more than 40% in 2022.

Key Companies Profiled

The monkeypox market report also includes detailed profiles of key players (listed below) engaged in the monkeypox therapeutics / vaccines and diagnostic kits markets:

• Bavarian Nordic
• Emergent BioSolutions
• ACON Laboratories
• altona Diagnostics
• DNA Software
• Elabscience
• Goldsite Diagnostics
• Hangzhou Testsea Biotechnology
• Jiangsu Bioperfectus Technologies
• Lansion Biotechnology

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About Roots Analysis

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Contact Details

Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com