Monkeypox Vaccine and Treatment Market to Reach USD 185 Million by 2030 with 11.21% CAGR

The newly published report titled "Global Monkeypox Vaccine And Treatment Market By Product (Vaccines (JYNNEOS/ Imvanex, Smallpox Vaccine, Others), Drugs (Tecovirimat, Brincidofovir, Cidofovir, Others) and Vaccinia Immune Globulin (VIG). Gender( Male, Females and Others), Route of administration (Oral and Injectable),End-use (Hospitals, Specialty Clinics and Others) Trends, Industry Competition Analysis, Covid-19 Analysis, Revenue (US$ Millions) and Forecast Till 2030." of InsightAce Analytic Pvt. Ltd. features detailed industry analysis and an extensive study on the market, exploring its significant factors.

The global Monkeypox Vaccine And Treatment market is estimated to reach over USD 185 million by 2030, exhibiting a CAGR of 11.21% during the forecast period.

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Monkeypox can be spread to humans by close contact with infected animals or people and through contact with contaminated materials. Monkeypox is a zoonotic virus that mostly affects tropical jungle areas. It can lead to several health problems and presents clinically as a fever, rash, and swollen lymph nodes. The smallpox immunizations used in the eradication campaign also provided immunity to that illness. Monkeypox is a disease that can be prevented using one of the more recent vaccines that have been developed. The global market for monkeypox vaccines and treatment may expand over the next five years due to increasing demand for timely vaccines and viable disease therapies. Governments are actively funding the research and development of efficient vaccines and treatments to stop the spread of disease and affected individuals. The government is also moving to boost medical research using genetic engineering methods to provide vaccines if the virus evolves and affects a bigger section of the population. Additionally, significant investments in the development of novel vaccinations are being fuelled by the population's rising healthcare costs, which will likely benefit the global market for monkeypox vaccines and treatment over the next five years.

List of Prominent Players in the Monkeypox Vaccine And Treatment Market:
• Bavarian Noric
• SIGA Technologies
• Chimerix
• EMERGENT
• Gilead Sciences, Inc.

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Market Dynamics:
Drivers-
The primary drivers of the market are an increase in public awareness of the disease and expanding government activities to tackle the threat posed by the monkeypox virus. Additionally, it is anticipated that increased R&D efforts to create vaccines and therapies will support market expansion. Furthermore, men tend to contract infections more frequently than women do. The monkeypox virus afflicted more than 2,231 men aged 31 to 35, according to statistics from the CDC for August 2021, compared to just 11 women in the same age range. People between the ages of 20 and 50 are more likely to contract the virus. Thus, it is projected that the demand for novel and efficient treatments will increase as the rate of monkeypox infection rises.

Challenges:
The possibility of vaccine side effects could prevent the industry from expanding in the upcoming years. Indorsion, swelling, nausea, muscle soreness, and itching are a few side effects frequently seen after receiving the monkeypox vaccine. Furthermore, the market's expansion is constrained by a lack of public awareness.

Regional Trends:
The North America Monkeypox Vaccine And Treatment market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly, owing to the presence of several essential individuals and the countless strategic initiatives they have undertaken. The regional market is expected to rise due to rising disease prevalence and greater vaccine awareness, among other factors. Strong government support and increasing R&D spending are also anticipated to foster profitable growth possibilities for the North American region. Besides, Asia Pacific had a substantial share in the Monkeypox Vaccine And Treatment market. Some key drivers propelling the market are the rise in monkeypox infections and the R&D spending on finding preventative and treatment options. The market is anticipated to develop as infection rates rise in Asia Pacific nations, including Australia, Singapore, and India.

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Recent Developments:
• In August 2022, Japan authorized the LC16 KMB monkeypox vaccine from KM Biologics.
• In July 2022, Bavarian Nordic announced an agreement with the United States Department of Health and Human Services (HHS) for the 2.5 million Jynneos vaccine to be made available in the United States as soon as possible.

Segmentation of Monkeypox Vaccine And Treatment Market-
By Product-
• Vaccine
o JYNNEOS/ Imvanex
o Smallpox Vaccine
o Others
• Drugs
o Tecovirimat
o Brincidofovir
o Cidofovir
o Others
• Vaccinia Immune Globulin (VIG)
By Gender-
• Male
• Female
• Others
By Route of Administration-
• Oral
• Injectable
By End-Use-
• Hospitals
• Specialty Clinics
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.