by Paragraph: Smallpox treatment products are pharmaceuticals used to treat complications arising due to smallpox infections. These products include vaccinia immune globulin, vaccines, and antiviral drugs. Smallpox is a contagious disease caused by the variola virus that can be deadly in around 30% of infections. The increasing prevalence of smallpox cases globally has boosted the demand for effective treatment options. The global Smallpox Treatment Market is estimated to be valued at US$ 68.7 million in 2023 and is expected to exhibit a CAGR of 1.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends propelling the growth of the smallpox treatment market is the increasing prevalence of smallpox cases globally. According to the World Health Organization (WHO), smallpox cases have risen steadily over the past few years since its eradication was declared in 1980, mainly due to bioterrorism threats and laboratory accidents. The growing instances have boosted the demand for effective pharmaceutical treatment options and vaccines against the variola virus causing smallpox. This rising disease prevalence is expected to drive the smallpox treatment market substantially over the forecast period.
SWOT Analysis
Strength: The smallpox treatment market is driven by rising awareness among general population regarding the treatment and prevention of smallpox. Research for advanced diagnostics and vaccines is also pushing the growth of this market.
Weakness: High costs associated with vaccine research and development pose a major challenge to growth of players in this market.Storage and supply chain infrastructure also needs improvement.
Opportunity: Growing government support in terms of funding for smallpox preparedness is opening new avenues. Untapped regions of Asia Pacific and Latin America represent lucrative growth opportunity.
Threats: Threat of bioterrorism using smallpox virus remains a concern.Possible side effects of vaccines may limit their uptake to some extent.
Key Takeaways
The global Smallpox Treatment Market Growth is expected to witness high growth. With increasing focus on preparedness against bioterrorism threats, manufacturers are investing in R&D to develop novel treatment approaches.
Regional analysis
North America currently dominates the market owing to heavy funding for preparedness against biodefense threats by governments in US and Canada. Asia Pacific is projected to witness fastest growth during the forecast period led by Japan, China and India on back of improving healthcare infrastructure and increasing government focus on biodefense preparedness.
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. Key players are focused on new product approvals and geographical expansion to strengthen their position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
