Lip Cold Sore Treatment Industry Analysis, Leading Players, Growth and Forecast Report, 2030

The lip cold sore treatment market will grow at a CAGR of 6.7% between 2021 and 2030, owing to the rising incidence of cold sores, surging prevalence of HSV-1 infection, and increasing research funding. Additionally, the ongoing technological advancements and soaring number of product launches will help the industry growth in SEA, Taiwan, Hong Kong, China, and South Korea. According to P&S Intelligence, the market was valued at $45,262.1 thousand in 2020, and it will generate $85,265.1 thousand revenue by 2030.

The rising incidence of HSV-1 infection will fuel the demand for lip cold sore treatment products in the foreseeable future. HSV-1 is transmitted through oral-to-oral contact to infect in or around the mouth. This virus infects during the childhood of people and remains in the body throughout their lifetime. According to the WHO, HSV-1 infection is very common and endemic throughout the world. As of 1 May 2020, approximately 3.7 billion people below 50 years of age were living with HSV-1 infection or oral herpes, as per the WHO.

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In recent years, the burgeoning demand for patches has become a major trend in the lip cold sore treatment market. To meet the surging need for lip cold sore patches, market players are actively focusing on producing and selling such treatment products through e-commerce channels. For example, Laboratoire HRA Pharma SAS provides Mederma cold sore discreet healing patches and COMPEED invisible cold sore patches via online stores. Likewise, Quantum Health also offers Super LipCare+ Invisible cold sore bandage patches and Lip Clear Invisible cold sore bandage patches through e-commerce platforms.

The clinics category, under the end user segment, held the largest share in the lip cold sore treatment industry in the last few years. The dominance of this category is attributed to the expanding patient pool in clinics and the rising public awareness about HSV 1 infection. Furthermore, the clinics category is also projected to display the fastest growth in the coming years, due to the rising number of visits by people suffering from lip cold sores at these healthcare units.

In contemporary times, the lip cold sore treatment industry is fragmented, with the presence of numerous key players, such as Integria Healthcare (Australia) Pty. Ltd., Kyungdong Pharmaceutical Co. Ltd., Li & Fung Limited, Perrigo Company plc, and Viatris Inc. Nowadays, these market players are actively engaging in mergers and acquisitions to consolidate their position. For example, in July 2019, Perrigo Company plc acquired Ranir Global Holdings LLC (Ranir) to diversify and expand its store-brand portfolio through its shared self-care strategies, combined scale, and global pipelines.

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Geographically, China accounted for the largest share in the lip cold sore treatment market in 2020, due to the increasing cases of HSV-1 infection among the rural population and the growing public awareness about lip cold sores in the country. In addition, the presence of key players and the surging disposable income of people will also drive the demand for lip cold sore treatment in the nation. Owing to these reasons, the Chinese market is also expected to register the fastest growth throughout this decade.

Therefore, the growing prevalence of HSV-1 infection and the increasing availability of treatment patches on online stores will support the market growth.

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