Covina, Aug. 28, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global monkeypox vaccine and treatment market size and share value is projected to grow from USD 85.4 Billion in 2024 and is forecasted to reach USD 215.7 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 10.7% during the forecast period (2024 - 2034).
Monkeypox Vaccine and Treatment Market Report Overview
Monkeypox is a rare but potentially serious viral illness caused by the monkeypox virus, which is related to the variola virus that causes smallpox. Historically found in Central and West Africa, monkeypox has garnered global attention due to recent outbreaks in various countries.
In order to manage and contain outbreaks, the creation and application of vaccines and therapies for monkeypox have become indispensable. Due of their efficiency in cross-protection, many vaccinations, including modified smallpox vaccines, have been developed and authorized for use against monkeypox.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Monkeypox Vaccine and Treatment Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Bavarian Nordic
- Emergent BioSolutions
- Johnson & Johnson
- Moderna
- Novavax
- CanSino BioPharma
- Gamaleya Research Institute
- Bharat Biotech
- Serum Institute of India
- Takeda
- Sanofi Pasteur
- GSK
- Merck
- Pfizer
- BioNTech
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Analyst View:
In addition to investigating innovative vaccine platforms and delivery techniques, researchers are concentrating on enhancing the safety and efficacy characteristics of currently available vaccinations. One aspect of this is the creation of vaccines that offer a more comprehensive defense against different orthopoxviruses such as smallpox and monkeypox.
Market Dynamics:
Drivers:
Security and Safety for Global Health
- International health organizations and governments are making research and development investments to guarantee that vaccinations and treatments are easily accessible and efficient in managing outbreaks. More funds and cooperation are being provided to develop health interventions connected to monkeypox as a result of this readiness drive.
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Market Trends:
Increased Public Awareness and Education
- The growing public awareness and education about monkeypox are boosting the target market growth. Educational campaigns and information dissemination about the symptoms, transmission, and prevention of monkeypox are raising awareness and encouraging vaccination.
Segmentation:
Monkeypox Vaccine and Treatment Market is segmented based on Product Type, Gender Type, Route of Administration, Distribution Channel, and Region.
Product Type Insights
- This industry includes the following: (Vaccine (JYNNEOS/ Imvanex, Smallpox Vaccine, Others), Drugs (Tecovirimat, Brincidofovir, Cidofovir, Others), and Vaccinia Immune Globulin). The market growth for vaccines is anticipated to be dominant as vaccination is the primary strategy for preventing monkeypox and controlling its spread, especially during outbreaks. The availability of effective vaccines helps to build immunity in populations at risk and reduces the incidence of the disease.
Gender Type Insights
- Male is anticipated to boost the growth of the target market as epidemiological data has shown that monkeypox cases have been more frequently reported among males. This trend is partly attributed to the social and behavioral factors that influence the transmission of the virus.
Route of Administration Insights
- Injection is anticipated to boost the growth of the target market as injectable vaccines and treatments are preferred due to their high efficacy in delivering precise doses of the active ingredient directly into the bloodstream or muscle tissue. This method ensures a more reliable immune response compared to oral formulations, which may be affected by factors such as digestive processes and absorption rates.
Distribution Channel Insights
- Hospital pharmacies are anticipated to boost the growth for the target market as hospitals generally have centralized procurement systems for vaccines and medications, allowing for streamlined acquisition and distribution of monkeypox vaccines and treatments.
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Recent Development:
- In January 2023, The CDC updated its recommendations, requiring vaccination against monkeypox to protect some high-risk populations. Based on the virus's continued spread on American soil, this action became a widely accepted necessity to safeguard particularly vulnerable communities. More vaccines were made available and distributed as a result of the new rules, especially in places where outbreaks were severe. However, this was accompanied by public health efforts urging the newly eligible groups to get vaccinated.
Regional Insights
- North America: The target market in this region gains from large investments made in R&D which makes cutting-edge vaccinations and treatments accessible. Monkeypox epidemics have occurred in both nations previously which has raised awareness of the need for quick thinking and readiness.
- Asia Pacific: The target market in this region is affected by the variety of healthcare facilities in the area. Developing nations are striving to enhance their access to vaccines and treatments, frequently with collaborations from multinational pharmaceutical corporations and assistance from international health organizations.
Browse Detail Report on "Monkeypox Vaccine and Treatment Market Size, Share, By Product Type (Vaccine (JYNNEOS/ Imvanex, Smallpox Vaccine, Others), Drugs (Tecovirimat, Brincidofovir, Cidofovir, Others), and Vaccinia Immune Globulin), By Gender Type (Male, Female, Others), By Route of Administration (Oral, Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies and Others (Government agencies)), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/monkeypox-vaccine-and-treatment-market-5590
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