North America Cold Sore Treatment (for HSV 1 Virus) Market is Expected to Reach USD 690.51 Million by 2030
Data Bridge Market Research Published Latest North America Cold Sore Treatment (for HSV 1 Virus) Market Study by in-depth analysis about current scenario, the Market size, demand, growth pattern, trends, and forecast. This report on the study considers important factors such as an analysis of the market, a definition of the market, market segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology.
According to the Centers for Disease Control and Prevention (CDC) and World Health Organization (WHO), the growing rate of infection has been witnessed in women worldwide in different regions in the last few years. The highest prevalence of HSV-1 has been witnessed in Africa, around 87% then Western Pacific, around 74%. This clarifies that women are more vulnerable to catching HSV infection, leading to diseases such as oral herpes, cold sores, genital herpes and the chances of transmission of STD also increase. So this growing prevalence of HSV-causing cold sores in women is expected to enhance the market’s growth.
Increasing prevalence and incidences of cold sore infections have enhanced the market demand. The rising healthcare expenditure for better health services also contributes to market growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in investments in pharmaceutical R&D and life sciences research also contributes to the rising demand for cold sore treatment.
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The North America cold sore treatment (for HSV 1 virus) market is expected to grow in the forecast year due to the rise in market players and the availability of advanced services. Along with this, manufacturers are engaged in R&D activities for launching novel products in the market. The proliferation in modes of transmission of HSV is further boosting market growth. However, a dearth of awareness about the onset and symptoms of cold sore and its treatment might hamper the market growth in the forecast period.
The North America cold sore treatment (for HSV 1 virus) market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 5.6% in the forecast period of 2023 to 2030 and is expected to reach USD 690.51 million by 2030 from USD 446.54 million in 2022.
Growing awareness about sexually transmitted diseases is expected to drive the market’s growth rate
Every year in April, STD awareness month is celebrated by the American sexual health association to raise awareness regarding sexually transmitted diseases/infections, their effect on the lives of people, and why testing, preventing, and treating them is important. Moreover, National Association of County and City Health Officials use this observance form the survey yearly to draw attention of people toward sexually transmitted diseases/infections and thus organize health departments to strengthen their programs of disease testing, prevention and care. Sexually transmitted disease is becoming more prevalent all around the world. Hence, STD awareness is very important for preventing numerous types of infection. Therefore, the growing awareness programs regarding sexually transmitted diseases will drive the market’s growth.
Fundamental Aim of this Market Report
- Factors influencing This Market Size and growth rate.
- Major alterations to this market in the near future.
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
DRIVERS
- Growing Prevalence of Cold Sore Infection
A group of small, hurting blisters caused by the Herpes Simplex Virus (HSV) is called cold sores. They are also called fever blisters or oral herpes. HSV is one of the most common viruses found to affect the global population and is endemic worldwide.
For instance,
- According to WHO, people under 50 infected with HSV-1 are estimated to be more than 3.7 billion globally (67%)
- According to the Centers for Disease Control and Prevention (CDC), data from the National Health and Nutrition Examination Survey showed that the prevalence of HSV-1 is found to be more in women as compared to men globally. The prevalence of HSV also increases with age.
- According to CDC, HSV-1 prevalence in the U.S. among people aged 0-49 in 2012 includes 178 million women, which means 49% of women population
With these instances, we can conclude that the growing prevalence of cold sore infections is driving the market growth.
- Proliferation in Modes of Transmission of Herpes Simplex Virus
An infectious virus can be transmitted in different modes, from its natural reservoir to a susceptible host. The spread of HSV infection relies on the intimate, personal interaction of a susceptible person with someone who excretes HSV transmission modes have different classifications, which include direct and indirect transmission.
Recent Developments
- In October 2022, GSK plc. and Tempus, a U.S.-based precision medicine company, entered into a three-year collaboration agreement that provides GSK with access to Tempus’ AI-enabled platform, including its library of de-identified patient data. Through its leading Artificial Intelligence and Machine Learning (AI/ML) capability, GSK will work together with Tempus to improve clinical trial design, speed up enrolment, and identify drug targets. This will contribute to GSK’s R&D success rate and provide patients with more personalized treatment faster.
- In July 2022, Haleon Group of Companies announced the completion of the spin-off of the healthcare business from GSK Group to Haleon Group. Haleon is the world’s leading consumer health company, with brands trusted by millions of consumers worldwide. Its product range includes five main categories- oral health, pain relief, respiratory health, digestive health, and others, as well as vitamins, minerals, and dietary supplements (VMS). Its long-standing brands such as Advil, Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident, Parodontax, and Centrum are based on sound science, innovation, and a deep understanding of people.
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North America Cold Sore Treatment (for HSV 1 Virus) Market Scope
Product Type
- Medications
- Ointments
- Creams
- Medicated Lip Balms
- Cold Sore Patches
- Non-Medicated Products
Based on product type, the market is segmented into medications, ointments, creams, medicated lip balms, cold sore patches, and non-medicated products.
Route of Administration
- Oral
- Topical
- Others
Based on route of administration, the market is segmented into oral, topical, and others.
Type
- Prescription Drugs
- Over The Counter (OTC) Drugs
Based on type, the market is segmented into prescription drugs and Over The Counter (OTC) drugs.
Gender
- Male
- Female
Based on gender, the market is segmented into male and female.
Drug Type
- Branded
- Generics
Based on drug type, the market is segmented into branded and generics.
End User
- Hospitals
- Specialty Clinics
- Homecare Setting
- Others
Based on end user, the market is segmented into hospitals, specialty clinics, homecare setting, and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Key highlights of this Market report:
- Growth rate
- Remuneration prediction
- Consumption graph
- Market concentration ratio
- Secondary industry competitors
- Competitive structure
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
What benefits does the DBMR study is going to provide?
- Latest industry influencing trends and development scenario
- Open up New Markets
- To Seize powerful market opportunities
- Key decision in planning and to further expand market share
- Identify Key Business Segments, Market proposition & Gap Analysis
- Assisting in allocating marketing investments
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Regulations
- Market Overview
Continued…
Browse Detailed Summary of Research Report with TOC: https://www.databridgemarketresearch.com/toc/?dbmr=north-america-cold-sore-treatment-market&Shri
Key Benefits of the Report:
- This study presents the analytical depiction of this industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of this market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed this industry analysis based on competitive intensity and how the competition will take shape in the coming years.
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