Increase in incidence of herpes zoster and enhanced healthcare infrastructure drive the growth of the global herpes zoster treatment market.
PORTLAND, Ore., Feb. 15, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Herpes Zoster Treatment Market by Treatment Type (Antiviral Medications, Anti Inflammatory Medications, and Others) Route Administration (Oral, and Topical) and Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global herpes zoster treatment industry generated $217.09 million in 2020, and is estimated to reach $303.42 million by 2030, witnessing a CAGR of 3.4% from 2021 to 2030.
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Drivers, Restraints, and Opportunities
Increase in incidence of herpes zoster and enhanced healthcare infrastructure drive the growth of the global herpes zoster treatment market. However, scarcity of skilled professionals restrains the market growth. On the other hand, surge in drug development activities creates new opportunities in the coming years.
Covid-19 Scenario
- There has been a fall in the number of surgeries and patient visits to hospitals to avoid cross-contamination. This impacted the herpes zoster treatment market negatively.
- Moreover, the shift in healthcare staff to take care of Covid-19-infected patients led to reduced staff for taking care of patients undergoing the herpes zoster treatment. So, many hospitals and healthcare facilities postponed non-elective surgeries. However, the herpes zoster treatment market is expected to recover steadily post-pandemic.
The antiviral medications segment to continue its leadership status during the forecast period
Based on treatment type, the antiviral medications segment accounted for the highest share in 2020, contributing to nearly half of the global herpes zoster treatment market, and is expected to continue its leadership status during the forecast period. Moreover, this segment is expected to manifest the largest CAGR of 3.9% from 2021 to 2030. This is due to rise in demand for antiviral treatment for its high effectiveness and introduction of new drugs. The research also analyzes the segments including anti-inflammatory medications and others.
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The drug stores and retail pharmacies segment to continue its dominant share during the forecast period
Based on distribution channel, the drug stores and retail pharmacies segment contributed to the highest share in 2020, accounting for nearly three-fifths of the global herpes zoster treatment market, and is estimated to continue its dominant share in terms of revenue during the forecast period. This is attributed to surge in the number of stores and its ease in availability. However, the online providers segment is expected to witness the highest CAGR of 5.4% from 2021 to 2030, owing to rise in preference for doorstep delivery of medicines with increased demand for convenience.
North America to continue its lead position in terms of revenue by 2030
Based on region, North America held the highest market share in 2020, accounting for around two-fifths of the global herpes zoster treatment market, and is expected to continue its lead position in terms of revenue by 2030. This is due to availability of advanced healthcare facilities with trained medical professionals and presence of key players across the region. However, Asia-Pacific is projected to portray the fastest CAGR of 4.7% during the forecast period, owing to rise in patient awareness toward treatment of herpes zoster and surge in demand for drug therapies.
Leading Market Players
- Abbott Laboratory
- Bausch Health
- Cipla Inc.
- Camber Pharmaceuticals.
- GlaxoSmithKline plc
- Merck
- Novartis AG,
- Pfizer Inc.
- Eli Lilly and Co.
- Teva Pharmaceutical Industries Ltd.
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