Monkeypox Vaccine And Treatment Market Size Is Expected To Reach USD 184.79 Million By 2030

 San Francisco, 25 Aug 2023: The Report Monkeypox Vaccine And Treatment Market Size, Share & Trends Analysis Report By Product (Vaccine, Drugs, Vaccinia Immune Globulin), By Gender, By Route Of Administration, By End-use, By Region, And Segment Forecasts, 2022 - 2030

The global monkeypox vaccine and treatment market size is expected to reach USD 184.79 million by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.16% from 2022 to 2030. The growing government initiatives for combating the monkeypox virus threat and a surge in awareness about the disease are the major factors driving the market. Moreover, an increase in R&D activities to develop vaccines and treatments is expected to fuel market growth.

The incidence rate of infection is higher in men as compared to women. According to the CDC’s data of August 2021, the monkeypox virus affected over 2,231 men of age 31 to 35 as compared to 11 women of age 31 to 35. The infection rate of the virus is more common in people between 20 to 50 years of age. Thus, the rising infection rates from the monkeypox virus are anticipated to fuel the demand for novel and effective treatment.

The increasing funding for boosting research activities and expanding manufacturing capacities of vaccine plants is likely to fuel market demand. For instance, in August 2022, the U.S. Department of Health and Human Services announced a funding of USD 11 million for providing support to fill and finish the manufacturing of JYNNEOS vaccine approved for preventing monkeypox and smallpox at GRAM, Michigan. This funding will assist GRAM to purchase extra equipment for JYNNEOS production.

Moreover, in July 2022, the pandemic institute awarded funding of around USD 580,049 to Liverpool researchers for managing the global threat of monkeypox. The funding is awarded for promoting research activities for understanding the stigma around the disease and developing new treatment regimens.

Furthermore, various strategic initiatives undertaken by the leading market players to strengthen their portfolio and market footprint are expected to facilitate market expansion. For instance, in August 2022, Bavarian Nordic A/S announced an agreement with Pan American Health Organization to boost equitable access to the Bavarian Nordic A/S monkeypox vaccine for countries in the Caribbean and Latin America. The vaccine delivery is likely to commence in the month of September.

In addition, in May 2022, SIGA Technologies, Inc. announced that its IV formulation TPOXX (tecovirimat) received U.S. FDA approval for the treatment of smallpox. The intravenous formulation is an alternative for patients who cannot swallow the oral formulation of the TPOXX. The IV formulation of TPOXX is also being used to manage the symptoms of monkeypox in the U.S.

However, the chances of side effects from the vaccine may hinder the market growth in the coming years. Some of the common side effects associated with the monkeypox vaccine include induration, muscle pain, swelling, nausea, and itching, among others.

Access Research Report of Monkeypox Vaccine And Treatment Market @ https://www.grandviewresearch.com/industry-analysis/monkeypox-vaccine-treatment-market-report

Monkeypox Vaccine And Treatment Market Report Highlights

• Based on product, the drugs segment held the largest share in 2022 owing to ongoing product approvals and increasing demand for antiviral drugs for the treatment
• The male segment accounted for the largest share in 2022 due to the higher prevalence of infections among men
• By route of administration, the oral segment dominated the market in 2022 due to the increased demand for oral antiviral drugs for the treatment of monkeypox disease
• The hospitals segment was the largest segment in 2022. The specialty clinics segment is anticipated to register the fastest growth rate throughout the forecast period
• Asia Pacific is expected to exhibit the fastest growth rate over the forecast period due to the increased risk of monkeypox infections and increasing awareness about vaccination

Monkeypox Vaccine And Treatment Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 200.23 million
Revenue forecast in 2030	USD 184.79 million
Growth rate	CAGR of 10.16% from 2022 to 2030
Base year for estimation	2022
Historical data	2022 - 2030
Forecast period	2022 - 2030

List of Key Players of Monkeypox Vaccine And Treatment Market

• Bavarian Nordic
• SIGA Technologies
• Chimerix
• EMERGENT
• Gilead Sciences, Inc.

Access Press Release of Monkeypox Vaccine And Treatment Market @ https://www.grandviewresearch.com/press-release/global-monkeypox-vaccine-treatment-market