The global monkeypox treatment market is expected to reach a valuation of USD 93.84 million in 2023 and is projected to grow to USD 249 million by 2033, registering a CAGR of 10.25% during the forecast period. The demand for effective treatment, vaccination, and other rare disease therapeutics is anticipated to propel the growth of the global monkeypox therapeutics market during the forecast period.
There is presently no specific treatment or defined pharmaceutical for the disease, but symptomatic treatment is possible, and a rise in demand for pain and itch relief caused by boils and rashes is positively impacting the growth of the monkeypox treatment market. Moreover, the surge in products approvals is also projected to fuel the monkeypox treatment market during the forecast period.
Likewise, according to the United States Food and Drug Administration, on 9 August 2022, Bavarian Nordic, a completely integrated vaccine company concentrated on the development, manufacturing and commercialization of life-saving vaccines, declared that its Jynneos vaccine received the approval from United states food and drugs administration as an emergency drug for the treatment of growing monkeypox disease. This will help in the expansion of the market in the forecast period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 93.84 million |
| Anticipated Forecast Value (2033) | USD 249 million |
| Projected Growth Rate (2023 to 2033) | CAGR 10.25% |
Explore FMI!
Book a free demo
The market for Monkeypox treatment was worth USD 64 million in 2018 while growing at a CAGR of 7.95 % during the historical period. The mounting demand for monkeypox treatment and increasing research for specific treatments for monkeypox led to vast opportunities which will aid in market expansion. Governments around the world are proactively investing in research and development for the development of effective drugs and vaccines to control the growing number of monkeypox cases.
On the other hand, various governments have started promoting genetic engineering for the development of vaccines and have also begun campaigns for spreading awareness about the potential disease cause and prevention. In addition, the rise in healthcare expenditure day by day for advances in the treatment of monkeypox disease will witness profitable growth prospects during the forecast period that will benefit the market in long term.
For instance, In North America and various European countries, approval of two vaccines and antiviral drugs for the treatment of monkeypox, previously used for smallpox treatment and eradication will lead to market expansion in the projected period. The live attenuated vaccine, Imvanex (in Europe) and Jynneos (in the USA) is developed by Bavarian Nordic. Likewise, smallpox shot ACAM2000 was developed by EMERGENT (Emergent BioSolutions). Considering the above-mentioned factors, product approvals and developments, the monkeypox treatment market is projected to reach USD 249 million by 2033, with a CAGR of 10.25%.
Surging demand for timely vaccines and potential disease treatments is expected to drive the growth of the monkeypox treatment market during the forecast period. Active investments in the research and development of effective vaccines and drugs to manage disease spread and treat affected patients are driving the growth of this market. Additionally, the government is taking steps to facilitate drug development by utilizing genetic engineering tools in order to provide vaccination in the event that the virus evolves and impacts a massive portion of the populace.
On the other hand, genomic sequencing for the virus would unravel the specific infection-causing sequences, which could help in the early diagnosis of viral infection and the development of effective vaccines for the population at risk of infection in the forthcoming period. Also, increasing healthcare expenditures by the population are fuelling investments for the development of new vaccines, which will drive the global monkeypox treatment market during the projected period. Currently, tecovirimat is the treatment of choice for people treating monkeypox. This is expected to propel growth during the forecast period.
Likewise, EMA’s human medicines committee recommended an extension of the indication of the smallpox vaccine IMVANEX to protect people from monkeypox infection. IMVANEX was approved in 2013 but it has been considered a crucial vaccine because of the similarities between smallpox and monkeypox. Furthermore, increasing Research and development activities and the use of the smallpox vaccine as an off-label product for vaccination against monkeypox are anticipated to propel the market in the forecast period.
Side-effects related to drug use to restrain market expansion
The growing side effects related to the drugs used to treat monkeypox are anticipated to restrict the growth of the market. The dearth of awareness and knowledge of the disease about the supportive treatment and the slow approval rate of specific therapeutic treatment for monkeypox is the major factor expected to restrain the growth of this market.
North America expected to dominate the market with the maximum share
North America dominated the market with a revenue share of 40.5% in 2022. It is projected to possess around 48% market share by end of the forecast period while growing at a CAGR of 9.1%. Growth is attributed to the presence of many dominating players, coupled with numerous strategic initiatives undertaken by them. Also, the rise in disease prevalence and growing awareness among people regarding vaccination is estimated to propel the growth of the regional market. Additionally, favourable support from the government and higher research and development investments are expected to provide lucrative opportunities for market growth of monkeypox treatment in this region.
In addition, on 4 august 2022, the United States department of health and human services, announced the monkeypox outbreak as a public health emergency. Due to this, there is a surging demand for vaccines and better treatment for monkeypox. Also, the rising prevalence of monkeypox disease and the growing demand for vaccines and new treatment for monkeypox is projected to fuel the growth of the monkeypox treatment market in this region.
Similarly, the United States government included the ACAM2000 drug in its strategic stockpile for the treatment of monkeypox. However, it is not commercially available yet. Presently, Siga Technologies’ Tecovirimat (TPOXX) and Chimerix’s brincidofovir (TEMBEXA) are the only two FDA-approved drugs for smallpox that are generally recommended for the treatment of certain patients with monkeypox. These approvals will help in the expansion of the market in this region during the forecast period.
Asia Pacific market expected to reflect the fastest CAGR
Asia Pacific is projected to witness the fastest growth of 11% during the forecast period. The growing number of monkeypox infections and increasing research and development activities for developing prevention and therapeutic options are some of the primary factors fuelling market growth.
The rising prevalence of infection in Asia Pacific countries such as Singapore, Australia, and India is anticipated to propel market growth.
An oral segment to dominate the market with maximum share
In 2022, the oral segment held the largest market share of 65.0% and it is estimated to possess more than 70% share by end of the forecast period. Surging demand for oral route therapeutics, ease of administration, and cost-effectiveness of oral products are some factors contributing to the segment expansion.
Likewise, most common drugs such as tecovirimat and brincidofovir are administered orally which is expected to boost the growth of this segment during the forecast period.
Tecovirimat driving growth with a maximum share
This segment is estimated to account for 61% market share in the monkeypox treatment market by end of 2033. This drug is expected to grow with a CAGR of 11.2% during the forecast period. Growth is attributed to the accepted safety profile offered by Tecovirimat during clinical trials and for the treatment of monkeypox in severe cases.
This drug is also accepted as the first line of therapeutic treatment recommended by the United states food and drug administration (FDA). It is also approved in European countries as well. The validation provided by these bodies and promising results from clinical trials is driving the growth of this segment. Moreover, ‘Tecovirimat’ is proven to be the only effective drug against the human monkeypox virus in vitro at nanomolar concentrations. Thus, presenting opportunities for market expansion of this segment.
Start-ups help in understanding the outlook of any market. Start-ups also have the potential to generate higher returns which directly benefits in the expansion of any market. This is because these are typically more efficient at converting inputs into outputs. These are more flexible and adaptable, able to shift quickly in response to changing market conditions. Some of the start-ups that will aid in the expansion of the monkeypox treatment market are:
The global Monkeypox treatment market is extremely competitive owing to the presence of a large number of players and innovative product offerings. Additionally, business expansion activities through partnerships and agreements are factors projected to further increase the competition. The major players in the market are: SIGA Technologies Inc., Chimerix, Inc, Bavarian Nordic, Sanofi SA, Emcure Pharmaceuticals, Jinan Jinda Pharmaceutical Chemistry Co., Ltd, Emergent Pharmaceuticals, Gilead Sciences, Inc., Hetero, Piramal Pharma Solutions
Some Recent Developments in the market are:
Key market players are concentrating on the adoption of inorganic growth strategies such as acquisition, partnerships and collaboration in order to improve their product portfolio. This is anticipated to drive the global monkeypox treatment market.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 93.84 million |
| Market Value in 2033 | USD 249 million |
| Growth Rate | CAGR of 10.25% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Treatment Type, Route of Administration, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Indonesia, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | SIGA Technologies Inc.; Chimerix, Inc.; Bavarian Nordic; Sanofi SA; Emcure Pharmaceuticals; Jinan Jinda Pharmaceutical Chemistry Co., Ltd; Emergent Pharmaceuticals; Gilead Sciences, Inc.; Hetero; Piramal Pharma Solutions |
| Customization | Available Upon Request |
The market is anticipated to reach a valuation of USD 93.84 million in 2023.
Asia Pacific is anticipated to surge at a CAGR of 11% through 2033.
The monkeypox treatment market is expected to reach USD 249 million in 2033.
The North America is anticipated to augment at a CAGR of 9.1% through 2023.
Surging healthcare expenditure to present a dollar opportunity for the industry players.
Home Respiratory Therapy Market – Growth & Forecast 2025 to 2035
Veterinary Auto-Immune Therapeutics Market Growth - Trends & Forecast 2025 to 2035
Radial Compression Devices Market Growth - Trends & Forecast 2025 to 2035
Digital Telepathology Market is segmented by Application and End User from 2025 to 2035
Suture Anchor Devices Market Is Segmented by Product Type, Material Type, Tying and End User from 2025 to 2035
Home Infusion Therapy Devices Market - Growth & Forecast 2025 to 2035
Monkeypox Treatment Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
