Vaccine Segment is the largest segment driving the growth of Smallpox Treatment Market
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| Smallpox Treatment Market |
The Smallpox Treatment Market is estimated to be valued at US$ 68.7 Mn or Million in 2023 and is expected to exhibit a CAGR of 2.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Smallpox treatment drugs are
antiviral drugs and vaccines used for the treatment of smallpox disease caused
by variola virus. The main drugs used in smallpox treatment include cidofovir,
vaccinia immune globulin, and ST-246. These drugs are effective in preventing
and treating complications arising from smallpox infection. The growing threat
of bioterrorism and research on smallpox has increased the focus on the
development of effective smallpox treatment and prevention.
Market key trends:
One of the key trends in the
smallpox treatment market is the ongoing research and development of new and advanced
treatment options. Companies are focusing on developing novel drugs and
vaccines with improved efficacy and safety profile. For instance, Emergent
BioSolutions is developing an advanced and more stable third-generation
smallpox vaccine called ACAM2000. It has shown better immunogenicity and
tolerability compared to first-generation smallpox vaccines. Similarly, SIGA
Technologies developed oral antiviral drug TPOXX (Tecovirimat) which was
approved by FDA in 2018 for the treatment of smallpox. With rising bioterrorism
threats, governments and global health organizations are also supporting
research on smallpox to improve preparedness. This growing R&D focus is
expected to drive the smallpox treatment market during the forecast period.
Porter's Analysis
Threat of new entrants: The
threat of new entrants in the smallpox treatment market is low due to high
capital requirements for R&D and manufacturing. Existing key players have
established their brand names over the years.
Bargaining power of buyers: The
bargaining power of buyers is moderate since there are only a few approved
products available for treatment. However, buyers can negotiate on price to
some extent.
Bargaining power of suppliers:
The bargaining power of suppliers is low in this market since raw materials
required are commoditized and available from multiple sources.
Threat of new substitutes: There
is low threat from substitutes as smallpox has been eradicated globally and no
alternative exists for its treatment.
Competitive rivalry: Intense due
to presence of large key players.
SWOT Analysis
Strengths: Established
distribution channels and brand recognition of key players.
Weaknesses: High R&D costs
and regulatory requirements. Dependence on government stockpiling.
Opportunities: Growing government
focus on biodefense. Potential for expansion in emerging markets.
Threats: Threat of bioterrorism
remains low. Price control measures by regulatory authorities.
Key Takeaways
The Global
Smallpox Treatment Market Size is expected to reach US$ 119.3 Mn by
2030, expanding at a CAGR of 2.1% during the forecast period. The market is set
to grow moderately owing to the risk of re-emergence of the disease through
bioterrorism activities along with growing government investments and
stockpiling programs worldwide for preparedness against biological threats. By
region, North America dominated with over 30% market share in 2023 due to
presence of major players and focus of governments on biodefense preparedness
in the region.
Increasing investments by
governments worldwide for stockpiling of biodefense products against potential
bioterrorism threats is projected to support growth of the smallpox treatment
market over the forecast period. For instance, under Project BioShield in 2004,
the U.S. government allocated US$ 5.6 billion to procure biodefense products
such as smallpox vaccines. Similar programs have been initiated by other
governments as well to build stockpiles.
Key players operating in the smallpox treatment market are SIGA
Technologies Inc., Bavarian Nordic A/S, Takeda Pharmaceutical Company Limited,
Johnson & Johnson, Emergent BioSolutions Inc., Novartis International AG,
GlaxoSmithKline plc, Sanofi Pasteur SA, Merck & Co. Inc., Pfizer Inc.,
Bharat Biotech International Ltd., BioCryst Pharmaceuticals Inc., Chimerix Â
Inc., Nanotherapeutics Inc., Bavarian Nordic A/S.
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