Around the world, and especially in developed economies such as the U.S., Monkeypox is becoming a global threat. In July 2022, WHO declared monkeypox a public health emergency. According to the CDC, as of July 2022, around 7,102 infections have been reported in the U.S.
Research shows it is relatively more prevalent among the LGBTQ community and sexually active individuals with multiple partners. With the rising cases, the demand for monkeypox treatment is also increasing. However, there is a dearth of vaccine availability that would create lucrative opportunities for market players. According to CDC, across the U.S., only around 1.5 million to 1.6 million individuals are vaccinated so far, which makes up to about 600,000 doses of two-dose vaccine.
In North America and several European countries, two vaccines and antiviral drugs have been approved for monkeypox, previously used for smallpox treatment and eradication.
The U.S. government included the ACAM2000 drug in its strategic stockpile for the treatment of monkeypox. However, it is not commercially available yet. Currently, Siga Technologies’ Tecovirimat (TPOXX) and Chimerix’s brincidofovir (TEMBEXA) are two FDA-approved drugs for smallpox that are commonly recommended for the treatment of certain patients with monkeypox. According to CDC, past data from Africa suggests that the smallpox vaccine can be 855% effective in treating monkeypox
However, the companies reported a major shortage of drugs, which is projected to slow down the market growth in the initial forecast period. Such a robust demand is leading to intense competition amongst the players to develop new antivirals for the treatment of disease.
Among the product types, vaccine segment is anticipated to exhibit lucrative growth in the forthcoming years; this is more likely due to the high demand for vaccines in the market.
Players are robustly engaged in strategic initiatives, which is anticipated to fuel the monkeypox treatment market growth. For instance, in July 2022, Bavarian Nordic signed an agreement with the U.S. Department of Health and Human Services (HHS) for 2.5 million doses of Jynneos vaccine for the rapid availability of the vaccines in the U.S. Major companies operating in the space include Bavarian Nordic, EMERGENT, Siga Technologies, and Chimerix.
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