MONKEYPOX TREATMENT MARKET ANALYSIS

Two outbreaks of a disease resembling the pox in colonies of monkeys kept for research led to the discovery of monkeypox in 1958. The monkeypox virus is the cause of this rare viral disease. Monkeypox is a type of Zoonotic disease, which are transmitted from animals to humans. The virus that causes smallpox and monkeypox both belong to the same family of viruses. However, it is less severe as compared to smallpox. The symptoms of monkeypox are similar to smallpox symptoms, but are milder and generally non-fatal.

Central and western Africa are more prone to monkeypox. However, due to 2022 outbreak, western and European region are also susceptible to monkeypox disease.  

Global monkeypox treatment market is estimated to be valued at US$ 70.4 Million in 2022 and expected to reach US$ 258.6 million by 2030, witnessing a CAGR of 17.7 % over the forecast period (2022-2030).

Figure 1. Global Monkeypox Treatment Market Share (%), By Region, 2022

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Increase in the prevalence of monkeypox disease is expected to drive growth of the global monkeypox treatment market

The increasing incidence of monkeypox disease is expected to drive the demand for new drugs and vaccines for the treatment of this disease. This is further expected to drive the global monkeypox treatment market growth over the forecast period.

For instance, according to data published by Centers for Disease Control and Prevention, till 9 August 2022, there are confirmed 31,800 total cases of monkeypox, worldwide, out of which 31,425 are in countries that have not historically reported monkeypox. While, 375 in countries that have historically reported monkeypox.

Moreover, according to a study published in the New England Journal of Medicine, it was found that between April and June 2022, 98% of the monkeypox infections in 16 countries across the globe were in men who have sex with men and LGBT communities.

Figure 2. Global Monkeypox Treatment Market Share (%) Analysis, By Treatment Type, 2022

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Increasing in the demand for vaccines and new treatment for monkeypox is expected to drive the growth of the global monkeypox treatment market.

For instance, on August 4, 2022, the U.S. Department of Health and Human Services, declared the monkeypox outbreak to be a public health emergency. Due to which there is acceleration in the demand for vaccines and better treatment for monkeypox.

Moreover, according to Centers for Disease Control and Prevention, the demand for the vaccine is outstripping the America’s vaccine supply. Thus, huge demand for vaccines and treatment for monkeypox is expected to drive the growth of global monkeypox treatment market.

Global Monkeypox Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe. The corona virus (COVID 19) pandemic and consequent lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. Supply chain and manufacturing activities have been disrupted globally, due to lockdowns implemented by governments of countries, restricted movement, and other COVID-19 safety precautions. However, COVID 19 has negligible impact on monkeypox treatment market.  

However, manufacturing sites, which are based in worst hit countries, have been affected severely due to severe shortage of medical resources and raw materials. This has led to global supply chain disruption.

The U.S. Food and Drug Administration (FDA) continues to monitor the supply chain. The Center for Drug Evaluation and Research (CDER) Drug Shortage Staff in 2020 asked manufacturers to evaluate their entire supply chain of various products, ethanol, EDTA (Ethylenediaminetetraacetic acid) and vaccines manufacturing equipment, etc. which in future is expected to improve the supply chain of healthcare products.

Global Monkeypox Treatment Market: Restraint

The major restraint for global monkeypox treatment market is increasing side effects related to the drugs used to treat this disease, thus, this can hinder the growth of global monkeypox treatment market.

Mild upset stomach, dry mouth, decreased concentration and dysphoria are some major side effects of drugs used to treat Monkeypox.

Key Players

Major players operating in the global monkeypox treatment market include SIGA Technologies, Inc., Chimerix, Inc., Bavarian Nordic, Sanofi SA, and Emcure Pharma, Jinan Jinda Pharmaceutical Chemistry Co., Ltd.