The increased accessibility of information about cold sores through various media channels, such as the internet, social media, and healthcare campaigns, has raised awareness about the signs and symptoms of cold sores. This heightened awareness has resulted in more individuals seeking medical advice and treatment for their cold sores, which in turn, has driven market growth.
Furthermore, the growing awareness has emphasized the importance of initial detection and treatment of cold sores. Healthcare providers are now more inclined to recommend aggressive treatment approaches, leading to a higher demand for antiviral medications, topical creams, and other treatment options.
Access Full Report @ https://www.databridgemarketresearch.com/reports/global-cold-sore-treatment-for-hsv-1-virus-market
Data Bridge Market Research analyzes that the Global Cold Sore Treatment (for HSV 1 Virus) Market is growing with a CAGR of 6.6% in the forecast period of 2024 to 2031 and is expected to reach USD 1,501.88 million by 2031 from USD 927.29 million in 2023.
Key Findings of the Study
Impact of Generic Drugs on Cold Sore Treatment (for HSV 1 Virus) Market
The availability of generic drugs is a significant driver of the global cold sore treatment (for HSV 1 virus) market, including infections caused by HSV-1 and H11 viruses. Generic drugs are bioequivalent to their branded counterparts but are typically more affordable, making them accessible to a larger population. This affordability increases the likelihood that individuals will seek treatment for their cold sores, driving up demand for these medications. Additionally, the availability of generic drugs promotes rivalry in the market, leading to lower prices and enlarged market penetration.
Moreover, generic drugs offer a cost-effective alternative for healthcare systems and insurers, allowing them to allocate resources more efficiently. This can result in higher treatment adherence rates among patients, leading to better health outcomes and reduced healthcare costs in the long run. Healthcare practitioners, pharmaceutical firms, are adapting and broadening their product lines in response to generic trends in order to satisfy the increasing need for comprehensive, individualized, and ecologically friendly healthcare solutions for the treatment. Thus, the impact of generic drugs on cold sore treatment is a major driver for the market growth.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Year
|
2022 (Customizable to 2016–2021)
|
|
Quantitative Units
|
Revenue in USD Million
|
|
Segments Covered
|
Treatment Type (Medications, Applied Products, Cold Sore Patches, and Others(Non Medicated Products)), Route Of Administration (Oral, Topical, and Others), Mode Of Purchase (Over The Counter and Prescription Drug), Strain Type (Herpes Simplex Type 1 Virus and Herpes Simplex Type 2 Virus), Drug Type (Generic and Branded), Population Type (Adults, Pediatrics, and Geriatrics), Gender (Female and Male), End User (Home Healthcare, Hospitals, Specialty Clinics, and Others), Distribution Channel (Direct Tenders, Retail Sales, and Others)
|
|
Market Players Covered
|
Fresenius SE & Co. KGaA (Germany), Zydus Pharmaceuticals, Inc. (U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Novartis AG (Switzerland), Sun Pharmaceutical Industries Ltd. (India), Quantum Health (U.S.), GSK plc. (U.K.), Haleon Group of Companies (U.K.), Church & Dwight Co., Inc. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Viatris Inc. (U.S.), Carma Labs Inc. (U.S.), URGO MEDICAL (France), Apotex Inc. (Canada), Amneal Pharmaceuticals LLC (New Jersey), Blistex Inc. (U.S.), FOCUS CONSUMER HEALTHCARE (U.S.), Hetero Healthcare Limited (India), Amparo medical Technologies (U.S.), and Devirex AG (Switzerland) among others
|
|
Data Points Covered in the Report
|
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.
|
Segment Analysis
The global cold sore treatment (for HSV 1 virus) market is categorized into nine notable segments which are based on treatment type, route of administration, mode of purchase, strain type, drug type, population type, gender, end user, and distribution channel.
- On the basis of treatment type, the global cold sore treatment (for HSV 1 virus) market is segmented into medications, applied products, cold sore patches, and others(non medicated products)
In 2024, the medications segment is expected to dominate the Global Cold Sore Treatment (for HSV 1 Virus) Market
In 2024, the medications segment is expected to dominate the market with a market share of 45.22% as they are widely used and first line of treatment.
- On the basis of route of administration, the global cold sore treatment (for HSV 1 virus) market is segmented into oral, topical, and others
In 2024, the oral segment is expected to dominate the Global Cold Sore Treatment (for HSV 1 Virus) Market
In 2024, the oral segment is expected to dominate the market with a market share of 54.92% due to the convenience and effectiveness of oral antiviral creams and ointments for managing oral herpes outbreaks.
- On the basis of mode of purchase, the global cold sore treatment (for HSV 1 virus) market is segmented into over the counter and prescription drug. In 2024, the over the counter segment is expected to dominate the market with a market share of 58.98%
- On the basis of strain type, the global cold sore treatment (for HSV 1 virus) market is segmented into herpes simplex type 1 virus and herpes simplex type 2 virus. In 2024, the herpes simplex type 1 virus segment is expected to dominate the market with a market share of 70.57%
- On the basis of drug type, the global cold sore treatment (for HSV 1 virus) market is segmented into generic and branded. In 2024, the generics segment is expected to dominate the market with a market share of 61.27%
- On the basis of population type, the global cold sore treatment (for HSV 1 virus) market is segmented into adults, paediatrics, and geriatrics. In 2024, the adults segment is expected to dominate the market with a market share of 51.44%
- On the basis of gender, the global cold sore treatment (for HSV 1 virus) market is segmented into female and male. In 2024, the female segment is expected to dominate the market with a market share of 62.29%
- On the basis of end user, the global cold sore treatment (for HSV 1 virus) market is segmented into home healthcare, hospitals, specialty clinics, and others. In 2024, the home healthcare is expected to dominate the market with a market share of 49.05%
- On the basis of distribution channel, the global cold sore treatment (for HSV 1 virus) market is segmented into direct tenders, retail sales, and others. In 2024, the direct tenders segment is expected to dominate the market with a market share of 66.04%
Major Players
Data Bridge Market Research analyzes Fresenius SE & Co. KGaA (Germany), Zydus Pharmaceuticals, Inc. (U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Novartis AG (Switzerland), Sun Pharmaceutical Industries Ltd. (India) as the major players operating in this market.
Market Developments
- In August 2022, GSK plc. completes acquisition of Affinivax, Inc. announced that it completed acquisition Cambridge, Massachusetts-based Affinivax, Inc. (Affinivax), a clinical-stage Biopharmaceutical business. Next-generation pneumococcal vaccines are the most developed of a new class of vaccines that Affinivax lead the development of next-generation pneumococcal vaccines
- In November 2022, GSK plc. Amneal Pharmaceuticals LLC had declared the FDA approval of its Abbreviated New Drug Application (ANDA) for Acyclovir Cream, 5%. It is the generic version of Zovirax for treatment of herpes labialis in adolescents. The initiative by the company would result in increased distribution of the product, rise in brand recognition and rise in sales. This would result in positive growth of the market
- In August 2019, Sun Pharmaceutical Industries Ltd. reported that one of its subsidiaries has conceded a license agreement to a subsidiary of China medical system holding ltd. to develop and commercialize 7 generics drugs in China. This agreement helps the company to expand its business and make the product profile strong
Regional Analysis
Geographically, the countries covered in the global cold sore treatment (for HSV 1 virus) market report are U.S., Canada, and Mexico, U.K., Germany, France, Spain, Italy, Belgium, Russia, Switzerland, Netherlands, Turkey, and rest of Europe, China, Australia, Japan, India, Singapore, South Korea, Malaysia, Thailand, Indonesia, Philippines, and rest of Asia-Pacific, Brazil, Argentina, and rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E., and rest of Middle East and Africa.
As per Data Bridge Market Research analysis
North America is expected to dominate in the Global Cold Sore Treatment (for HSV 1 Virus) Market
North America is expected to dominate the global cold sore treatment (for HSV 1 virus) market due to factors like high prevalence of cold sores, advanced healthcare infrastructure, strong consumer awareness and purchasing power, ongoing research and development initiatives, established marketing and distribution networks, and reduced stigma surrounding treatment-seeking behaviors.
For more detailed information about the global cold sore treatment (for HSV 1 virus) market report, click here – https://www.databridgemarketresearch.com/reports/global-cold-sore-treatment-for-hsv-1-virus-market
