According to WHO, people under the age of 50 who are infected with HSV-1 are estimated to be more than 3.7 billion across the globe (67%). HSV-1 prevalence increases with increasing age. Prevalence rose with age, from 27.0% between 14-19 years to 41.3% between 20-29 years, 54.1% between 30-39 years, and 59.7% between 40-49 years, respectively.
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Data Bridge Market Research analyzes that the North America Cold Sore Treatment (for HSV 1 Virus) Market is expected to grow with a CAGR of 5.6% in the forecast period of 2023 to 2030 and is expected to reach USD 690.51 million by 2030. The medications segment is projected to propel the market growth as they are widely used for the treatment of cold sore infections.
Rising Disposable Income and Increasing Healthcare Infrastructure
The disposable income of consumers per capita has risen with the recent economic development globally, as a consequence of which customers can spend more money on their fitness and healthcare.
Rising disposable income is expected to boost spending on the treatment of HSV and purchasing of medicines. Thereby, the higher the economic wealth, the more it improves access to better medication and healthcare leading to a disease-free population.
Thus, it is observed that the rise in disposable income allows people to focus more on their health leading to increased healthcare expenditure for various available treatment options to cure and manage cold sores. Also, various governments are taking initiatives to spread awareness regarding these diseases to help society to live a healthy life ahead. Thus, rising disposable income and increasing healthcare infrastructure act as a driver for market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product Type (Medications, Ointments, Creams, Medicated Lip Balms, Cold Sore Patches, and Non-Medicated Products), Route of Administration (Oral, Topical, and Others), Type (Prescription Drugs and Over The Counter (OTC) Drugs), Gender (Male and Female), Drug Type (Branded and Generics), End User (Hospitals, Specialty Clinics, Homecare Setting, and Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, and Retail Pharmacy)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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GSK plc. (U.K.), Novartis AG (Switzerland), Viatris Inc. (U.S.), Hikma Pharmaceuticals PLC (U.K.), HRA Pharma (France), Quantum Health (U.S.), URGO (France), Apotex Inc. (Canada), Church & Dwight Co., Inc. (U.S.), Bausch Health Companies Inc. (Canada), Zydus Pharmaceuticals Inc. (U.S.), Haleon Group of Companies (U.S.), Amparo medical Technologies (U.S.), Teva Pharmaceuticals USA Inc. (U.S.), Carma Labs Inc. (U.S.), and Blistex Inc. (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The North America cold sore treatment (for HSV 1 virus) market is segmented into seven notable segments based on product type, route of administration, type, gender, drug type, end user, and distribution channel.
- Based on product type, the market is segmented into medications, ointments, creams, medicated lip balms, cold sore patches, and non-medicated products.
In 2023, the medications segment is expected to dominate the market as these products are largely utilized in various countries in the region.
In 2023, the medications segment is expected to dominate the market with a market share of 40.92% and is expected to reach USD 297.27 million by 2030, growing with a CAGR of 6.3% in the forecast period of 2023 to 2030.
- Based on route of administration, the market is segmented into oral, topical, and others. In 2023, the oral segment is expected to dominate the market with a market share of 50% and is expected to reach USD 351.24 million by 2030, growing with a CAGR of 5.8% in the forecast period of 2023 to 2030.
- Based on type, the market is segmented into prescription drugs and over the counter (OTC) drugs. In 2023, the over the counter (OTC) drugs segment is expected to dominate the market with a market share of 57.64% and is expected to reach USD 416.83 million by 2030, growing with a CAGR of 6.2% in the forecast period of 2023 to 2030.
- Based on gender, the market is segmented into male and female. In 2023, the female segment is expected to dominate the market with a market share of 58.25% and is expected to reach USD 425.43 million by 2030, growing with a CAGR of 6.3% in the forecast period of 2023 to 2030.
- Based on drug type, the market is segmented into branded and generics. In 2023, the generics segment is expected to dominate the market with a market share of 59.22% and is expected to reach USD 433.04 million by 2030, growing with a CAGR of 6.4% in the forecast period of 2023 to 2030.
- Based on end user, the market is segmented into hospitals, specialty clinics, homecare setting, and others. In 2023, the homecare setting segment is expected to dominate the market with a market share of 43.76% and is expected to reach USD 322.64 million by 2030, growing with a CAGR of 6.5% in the forecast period of 2023 to 2030.
- Based on distribution channel, the market is segmented into hospital pharmacy, online pharmacy, and retail pharmacy. In 2023, the retail pharmacy segment is expected to dominate the market with a market share of 44.21% and is expected to reach USD 323.84 million by 2030, growing with a CAGR of 6.4% in the forecast period of 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in the North America cold sore treatment (for HSV 1 virus) market that include GSK plc. (U.K.), Novartis AG (Switzerland), Viatris Inc. (U.S.), Hikma Pharmaceuticals PLC (U.K.), HRA Pharma (France), Quantum Health (U.S.), URGO (France), Apotex Inc. (Canada), Church & Dwight Co., Inc. (U.S.), Bausch Health Companies Inc. (Canada), Zydus Pharmaceuticals Inc. (U.S.), Haleon Group of Companies (U.S.), Amparo medical Technologies (U.S.), Teva Pharmaceuticals USA Inc. (U.S.), Carma Labs Inc. (U.S.), and Blistex Inc. (U.S.) among others.
Market Development
- In October 2022, GSK plc. and Tempus, a U.S.-based precision medicine company, entered into a three-year collaboration agreement that provides GSK with access to Tempus’ AI-enabled platform, including its library of de-identified patient data. This will contribute to GSK’s R&D success rate and provide patients with more personalized treatment faster.
- In January 2022, Hikma Pharmaceuticals PLC, the multinational pharmaceutical company, announced that it has agreed to acquire the Canadian assets of Teligent Inc. This acquisition involved Hikma’s expansion into Canada.
- In March 2021, Precision Vaccinations and GlaxoSmithKline (GSK) initiated a limited Phase 1 clinical trial of an HSV candidate known as the HSV vaccine (GSK4108771A).
- In November 2020, Amneal Pharmaceuticals received approval from the US Food and Drug Administration (FDA) for Acyclovir Cream, 5%. Acyclovir Cream, 5%, is the generic version of Zovirax, which is indicated for the treatment of recurrent herpes labialis (cold sores) in immunocompetent adults and adolescents 12 years of age and older.
- In April 2019, Fera Pharmaceuticals received orphan drug exclusivity from the US Food and Drug Administration for Avaclyr (acyclovir ophthalmic ointment), 3% for the treatment of herpes keratitis (dendritic ulcers) in patients with HSV-1.
Country Analysis
Geographically, countries covered in the North America cold sore treatment (for HSV 1 virus) market report are U.S., Canada, and Mexico.
As per Data Bridge Market Research analysis,
The U.S. is the dominant region in the North America cold sore treatment (for HSV 1 virus) market during the forecast period of 2023 and 2030
In 2023, the U.S. is expected to dominate the market owing to the higher level of investments by U.S. manufacturers and the increasing prevalence of cold sore infections in the country. The U.S. will continue to dominate the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and the launch of new products. Additionally, the increasing number of cases of cold sore infections is expected to further enhance the market growth.
The U.S. is estimated to be the fastest-growing country region in the North America cold sore treatment (for HSV 1 virus) market during the forecast period of 2023 and 2030
The U.S. is expected to grow during the forecast period due to the presence of major market players and the rapid development of medical facilities in emerging economies in the country. In addition to this, the rising level of healthcare expenditure and increasing per-capita income are expected to propel the market growth.
For more detailed information about the cold sore treatment market report, click here – https://www.databridgemarketresearch.com/es/reports/north-america-cold-sore-treatment-market
