Surge in Geriatric Population Is Projected to drive the Demand for Herpes Market

As per the World Health Organization (WHO), it has been forecast that by 2050, the population of individuals at the age of 60 years or more than that is expected to increase to 2 billion from 900 million as per the 2015 data. It has been reported that the pace of ageing population is too high and is expanding at a dramatic rate. Aging population has higher prevalence of chronic diseases that is 6 in 10 older people have chronic diseases whereas, 4 in 10 adults suffer from chronic diseases. As the aging population will increase in the forecast period, different health issues related to aging will also increase in the upcoming years. Therefore, the demand for treatment of herpes will increase, driving the growth of the global herpes market.

Access Full Report @ https://www.databridgemarketresearch.com/fr/reports/global-herpes-market

Data Bridge Market Research analyses that the herpes market is expected to grow at a CAGR of 6.6% in the forecast period of 2021 to 2028 and is expected to reach USD 1,627.74 million by 2029. Herpes API intermediates market needs great involvement of contract research organizations and contract manufacturing organizations to provide effective intermediates, which can cater to the needs of patients suffering from several kinds of chronic diseases. This signifies that increasing number of contract research organizations and contract manufacturing organizations is acting as an opportunity for the global herpes market growth.

Surge in Healthcare Expenditure globally is expected to drive the market's growth rate

People are getting more aware of their health and also there is alertness for preventive healthcare. Emphasis on healthcare is gaining popularity. The advanced technology available in healthcare system is helping manufacturers to produce novel anti-herpetic drugs, which are used for the treatment of various conditions of herpes and lead to higher survival rates. A developed health infrastructure guarantees strong and healthy manpower for providing healthcare services. It includes advanced machines and developed pharmaceutical industry. For instance, According to Centers for Medicare and Medicaid Services, in 2018, National Health Expenditures  (NHE) rises by 4.6% to USD 3.60 trillion (USD 11,172 per person), which accounts for 17.7% of GDP. National health spending will reach to USD 6.20 trillion by 2028 with an average annual rate of 5.4% for 2019-2028. Improving and increasing healthcare infrastructure and expenditure will increase the process of installation of advanced technologies for the manufacturing of anti-herpetic drugs and APIs, which will enhance the product profile in the leading market, for this reason, increasing healthcare expenditure and infrastructure across the world is acting as an opportunity for boosting the demand of the global herpes market. 

Report Scope and Market Segmentation

Segment Analysis:

Global herpes market is categorized into seven notable segments based on the virus type, product, drug type, age, route of administration, distribution channel and end users.

• On the basis of virus type, the global herpes market is segmented into herpes simplex and herpes zoster. The herpes simplex is further segmented into type I and type II. In 2021, the herpes simplex segment is expected to dominate the market growing with the highest CAGR of 6.6%

The herpes simplex segment is expected to dominate the market growing with the highest CAGR of 6.6%

In 2021, the herpes simplex segment is expected to dominate the market growing with the highest CAGR of 6.6% in the forecast period of 2021 to 2028 due to the rise in prevalence of herpes infections because of having unprotected sex with an infected partner.

• On the basis of product, the global herpes market is segmented into acyclovir, docosanol, valacyclovir, famciclovir and others. In 2021, the acyclovir segment is expected to dominate the market growing with the highest CAGR of 6.7% in the forecast period of 2021 to 2028 because it effectively lessens the infection symptoms and increases healthcare expenditure due to growing healthcare awareness among people.
• On the basis of drug type, the global herpes market is segmented into prescription drug and over-the-counter drug. In 2021, the prescription drug segment is expected to dominate the market growing with the highest CAGR of 6.8% in the forecast period of 2021 to 2028 because of the rise in the incidence of viral diseases such as HPV, HIV/AIDS and measles.
• On the basis of age, the global herpes market is segmented into adult and pediatrics. In 2021, the adult segment is expected to dominate the market growing with the highest CAGR of 6.7% in the forecast period of 2021 to 2028 because of the growing geriatric population due to the increasing life expectancy of people.
• On the basis of route of administration, the global herpes market is segmented into topical, oral and parenteral. In 2021, the topical segment is expected to dominate the market growing with the highest CAGR of 6.6% in the forecast period of 2021 to 2028 because it is easy to use and non-invasive method with greater patient compliance.
• On the basis of distribution channel, the global herpes market is segmented into hospitals pharmacies, retail pharmacies, drug stores, online pharmacies and others. In 2021, the hospital pharmacies segment is expected to dominate the market growing with the highest CAGR of 6.8%

The hospital pharmacies segment is expected to dominate the market growing with the highest CAGR of 6.8%

In 2021, the hospital pharmacies segment is expected to dominate the market growing with the highest CAGR of 6.8% in the forecast period of 2021 to 2028 because of several major players in the market. The presence of major players boosts the market growth by launching new products in the market.

• On the basis of end users, the global herpes market is segmented into hospitals, speciality clinics and others. In 2021, hospitals segment is expected to dominate the market growing with the highest CAGR of 10.2% in the forecast period of 2021 to 2028 due to growing awareness among people about types of herpes virus and their treatment which has accelerated the growth of the hospitals segment.

Major Players

Data Bridge Market Research recognizes the following companies as the major herpes market players in herpes market are Abbott (U.S.), Apotex, Inc. (Canada), Avet Pharmaceuticals, Inc. (U.S.), Bausch Health Companies, Inc. (Canada), Cipla, Inc. (India), Dr. Reddy’s Laboratories Ltd. (India), EPI Health (U.S.), Fresenius Kabi AG (Germany), GlaxoSmithKline plc.(U.K.), Glenmark Pharmaceutical Inc., (U.S.),, Maruho Co.,Ltd. (Japan),  Mylan N.V. (U.S.),  Pfizer Inc. (U.S.), Sun Pharmaceutical Industries Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Zydus Pharmaceuticals, Inc.(U.S.), RECORDATI S.p.A. (Italy), Aurobindo Pharma (India), Amneal Pharmaceuticals LLC(U.S.), Slavia Pharm S.R.L. (Romania), and Blistex, In (Canada).

Market Development

• In March 2021, Zydus Pharmaceuticals (USA) Inc. voluntarily recalled four lots of Acyclovir Sodium Injection, 50 mg/mL, 10 mL, and 20 mL vials, to the Hospital/User level after receiving several complaints of crystallization in vials. Administration of crystalized Acyclovir Sodium Injection, 50 mg/mL has adverse consequences including injection site inflammation of a vein and local reactions, damage and/or obstruction of blood vessels, which could induce clots, which is potentially life-threatening. Therefore, this product recall hinders the growth of the market.
• In November 2019, Mylan N.V. announced a collaboration with Upjohn, a division of Pfizer, the new company formed would be named Viatris. The merger of both the companies to develop a combined firm has expanded their product portfolio, leading to increased demand for their products in the market.
• In April 2020, Aceto announced the acquisition of Syntor Fine Chemicals, who is one of the leading manufacturers of fine-chemicals, which is used for the pharma industries and life-sciences end markets. This acquisition helped the company increase its market growth as Syntor Fine Chemicals will provide its in-house developed products to the company therefore, both the companies will work together to meet the increase demand of the customers.
• In August 2019, Cambrex Corporation had announced that that Permira Funds have acquired the company and it has increased its growth and become one of the premier contract development and manufacturing organization of the drug substances, intermediates and final product. The company was acquired with a cash price of USD 60 per share. This agreement helped the company become one of the leading companies in terms of drug substance, intermediates, and analytical.

Regional Analysis

Geographically, the countries covered in the herpes market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in herpes market during the forecast period

North America dominated the herpes market owing to the high number of increasing prevalence of herpes. North America will continue to dominate the herpes market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the increasing healthcare expenditure.

Asia-Pacific is estimated to be the fastest-growing region in herpes market

Asia-Pacific is expected to grow during the forecast period due to the rising prevalence of geriatric population China, Japan, and India in this region. In addition, the growing presence of major market players and rising disposable income are expected to propel the market's growth rate in this region.

For more detailed information about the herpes market report, click here – https://www.databridgemarketresearch.com/fr/reports/global-herpes-market