Vaccine Segment is the largest segment driving the growth of Smallpox Treatment Market

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  Inc., Nanotherapeutics Inc., Bavarian Nordic A/S.

Read more

https://www.ukwebwire.com/smallpox-treatment-market-size-share-growth-outlook-2023/

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