Genital Herpes Treatment Market: Overview
According to a report conducted by the WHO or World Health Organization in the year 2017, approximately 3.7 billion people in the world under the age of fifty were diagnosed with herpes virus HSV-1. Furthermore, over 417 million people around the world, aged between 11 and 49, were diagnosed with herpes virus HSV-2. This rising prevalence of herpes simplex virus is anticipated to thrust growth in global genital herpes treatment market in coming years. Genital herpes, caused by the herpes simplex virus type HSV-2, causes painful blisters around the genital areas in both men and women. Genital herpes is found to be more commonplace condition in women compared to men.
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As herpes is a chronic condition without a permanent cure, patients diagnosed with this condition have to rely on medication to reduce the symptoms of the infection. This creates various opportunities for vendors and manufacturers in global genital herpes treatment market to provide effective medications with long lasting effects. Rising awareness amongst global population regarding the prevalence and severity of sexually transmitted infections (STI) and treatment options for various STIs are some of the key factors motivating growth in global genital herpes treatment market in near future. However, stigma associated with accessing medical care regarding sexually transmitted infections (STIs) remains one of the major problems for healthcare professionals as well as the players in global genital herpes treatment market. Many affected patients do not access medical care for this condition owing to the private and intimate nature of the symptoms.
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Sexually transmitted diseases (STD) are also known as venereal diseases, are generally caused by infections that are transmitted from one person to the other during sexual intercourse. Sexually transmitted infections (STI) are caused by more than 30 different viruses, bacteria, and parasites. Common type of STDs include chlamydia, gonorrhea, syphilis, genital herpes, and trichomoniasis. Genital herpes is a STI caused by herpes simplex virus. Blisters on or around genitals, vaginal discharge, pelvic pain, and penile discharge are some common symptoms of genital herpes. As stated by the World Health Organization (WHO) in December 2015, around 1 million sexually transmitted infections are developed every day, globally. As per WHO, in the U.S. around 15% of people with herpes simplex virus infection report prior diagnosis of genital herpes. Accurate diagnostic tests such as competitive polymerase chain reactions (PCR), DNA enzyme immunoassay hybridization, real-time PCR assay are extensively used to diagnose STIs in developed countries. These tests are useful for the diagnosis of asymptomatic infections. These diagnostic tests are very expensive, the only inexpensive, rapid tests currently available for STIs are for syphilis and HIV.
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Increase in demand for effective therapeutic options for the treatment of these infections is expected to drive the genital herpes treatment market during forecasting period. In order to address the urgent need of better treatment for sexually transmitted infections and to combat rapid development of antiviral-resistant species, governments across the world have taken initiatives which would support the growth of genital herpes treatment market. The Innovative Medicine Initiative (IMI) in partnership with the European Union and the pharmaceutical industry in Europe aims at developing innovative therapeutic alternatives to create new opportunities for STD treatment. This, in turn, is projected to support the expansion of the genital herpes treatment market.
The global genital herpes treatment market has been segmented based on type of drugs, distribution channel, and geography. In general antiviral therapy is prescribed in line to treat genital herpes. Based on type of drugs, the genital herpes treatment market has been divided into acyclovir, famciclovir, valacyclovir, and others. Acyclovir is commonly used as first line antiviral agent and is expected to hold a significant share of the market during the forecast period. There are few antivirals such as valacyclovir used in herpes infection also used to treat genital herpes. Based on distribution channels, the genital herpes treatment market has been divided into hospitals, retail pharmacy, and online pharmacy. Retail pharmacy accounted for a considerable share of the market due to presence of generic market. The online pharmacy segment is expected to expand in the near future due to the rise in adoption of online purchases in developed countries such as the U.S.
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In terms of geography, the global genital herpes treatment market has been categorized into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America dominated the global genital herpes treatment market. The region is expected to be a highly attractive market for STD drugs during the forecast period. Dominance of the region can be attributed to the rising prevalence of the disease and high cost of drugs. North America and Europe are expected to remain the prominent markets due to high consumption of antiviral drugs. The market in Asia Pacific and Latin America is expected to expand in later stage of forecast period due to rising awareness regarding treatments for genital herpes.
Key players operating in the genital herpes treatment market are GlaxoSmithKline, Teva Pharmaceuticals Inc., Mylan Pharmaceuticals Inc., Apotheca Inc., Sandoz Inc., Novartis AG, Hospira Inc., Novopharm Ltd., and Dr. Reddy’s Laboratories Ltd.
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