Monkeypox Therapeutics Market to Grow with a CAGR of 8.82% through 2029
Surge in research and development activities is
expected to drive the Global Monkeypox Therapeutics Market growth in the
forecast period, 2025-2029.
According to TechSci Research report, “Monkeypox
Therapeutics Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2029F”, the Global Monkeypox Therapeutics
Market stood at USD 85.26 Million in 2023 and is anticipated to grow with a
CAGR of 8.82% through 2029. Initiatives taken by government based on monkeypox therapeutics
has led to favorable market conditions for the Global Monkeypox Therapeutics
Market. Several factors contribute to the growth of various monkeypox therapeutics
products.
To support the development of Monkeypox therapeutics,
governments have significantly increased funding for research and development
(R&D). This funding supports both public and private sector initiatives
aimed at advancing the discovery and manufacturing of novel antiviral drugs and
vaccines. For instance, the U.S. National Institutes of Health (NIH) and the
European Commission have allocated grants to research institutions and
pharmaceutical companies working on Monkeypox-related projects. This financial
support accelerates the development pipeline and fosters innovation in
therapeutic solutions.
In anticipation of potential outbreaks, governments
have implemented stockpiling strategies for smallpox vaccines and antiviral
medications. These stockpiles are strategically maintained to ensure that sufficient quantities of therapeutics are available for rapid deployment in the event of an outbreak. For example, the U.S. Centers for Disease Control and
Prevention (CDC) has established a stockpile of smallpox vaccines, which can be
used to address Monkeypox cases. Additionally, governments are working to
enhance distribution networks to ensure that vaccines and treatments reach remote
and underserved areas efficiently.
The escalating monkeypox cases have catalyzed an unprecedented surge in R&D activities within the pharmaceutical and biotech industries. Researchers and companies are actively engaged in developing new therapeutics, including antivirals, vaccines, and monoclonal antibodies. The drive to discover and bring effective treatments to market quickly is a response to the urgent need for effective solutions to combat monkeypox.
This acceleration in innovation is marked by increased funding and resources allocated to R&D efforts. Pharmaceutical companies and research institutions are dedicating substantial investments to explore novel compounds and treatment modalities. The result is a growing pipeline of promising therapeutics, each with the potential to transform the management of monkeypox and address gaps in current treatment options.
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The Global Monkeypox Therapeutics Market is segmented
into treatment, end user, regional distribution, and company.
Based on Treatment, Antivirals have
emerged as the dominating segment in the Global Monkeypox Therapeutics Market
in 2023. Antiviral medications have demonstrated significant effectiveness in
treating viral infections, including those caused by orthopoxviruses, the
family to which Monkeypox belongs. Drugs like Tecovirimat (TPOXX) and
Cidofovir, originally developed for smallpox, have been shown to be effective
against Monkeypox due to their ability to inhibit viral replication. The
success of these antivirals in clinical settings and their historical use in
controlling similar viral outbreaks bolster their dominance in the Monkeypox
Therapeutics Market. Their established efficacy provides a reliable treatment
option, making them the preferred choice for managing Monkeypox infections.
Antivirals are particularly advantageous
for treating Monkeypox because they target specific aspects of the virus's life
cycle. For instance, Tecovirimat works by inhibiting the viral envelope
protein, which is crucial for the virus's ability to spread. This targeted
approach helps in reducing the viral load and alleviating symptoms more
effectively than broad-spectrum treatments. The specificity of these antivirals
to orthopoxviruses, including Monkeypox, enhances their effectiveness and
reduces the risk of resistance development, contributing to their dominance in
the market.
Based on Region, Asia Pacific have emerged as the fastest
growing region in the Global Monkeypox Therapeutics Market in 2023. Countries
in Asia Pacific are significantly expanding and upgrading their healthcare
infrastructure to address emerging public health threats. Investments in
healthcare facilities, diagnostic capabilities, and treatment availability have
created a more robust environment for the deployment of monkeypox therapeutics.
There has been a surge in strategic partnerships and
collaborations between local pharmaceutical companies and international
organizations. These collaborations facilitate the transfer of technology,
knowledge, and resources, enhancing the development and accessibility of
monkeypox therapeutics in the region.
Major companies operating in Global Monkeypox
Therapeutics Market are:
- Chimerix Inc.
- SIGA Technologies, Inc.
- Emergent BioSolutions Inc.
- Bavarian Nordic A/S
- Hetero Drugs Limited
- Mylan N.V.
- Piramal Enterprises Limited
- Olon S.p.A.
- Teva Pharmaceutical Industries Limited
- CIDIC Company Limited
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“Nanotechnology enhances diagnostic capabilities
through the development of advanced nanosensors and nanoparticle-based assays.
Nanoparticles, such as gold and quantum dots, are employed in diagnostic tests
to improve sensitivity and specificity. In Monkeypox diagnostics, these
nanoparticles can be engineered to bind selectively to viral antigens or
genetic material, enabling rapid and accurate detection. This is crucial for
timely diagnosis and effective outbreak management”, said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Monkeypox Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Treatment (Smallpox Vaccine, Antivirals, Vaccinia Immune Globulin (VIG)), By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Monkeypox Therapeutics Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Monkeypox
Therapeutics Market.
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