Global Zoster Treatment Market Highlights 2022 – 2030
The global zoster treatment market is estimated to gather a large amount of revenue and grow at a CAGR of ~14% over the forecast period, i.e., 2022 – 2030. The growth of the market can be primarily attributed to the high prevalence of the sickness and its increasing commonness among older populations. According to the Centers for Disease Control and Prevention, every year, a total of one million cases of herpes zoster occurs in the United States alone. The incidence of the disease among elderly population of 60 years and above is 1 case per 100 in the country.
In addition to these, the rising introduction of vaccines and medications for self-treatment, with the aim to opt for hospitalization only when of utmost necessity, is also a crucial factor expected to drive market growth in the upcoming years. Furthermore, upsurge in investments by prominent market players to develop effective and improved treatment for cutaneous viral infections is projected to offer profitable opportunities to the market in the near future.
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The market is segmented by treatment type into antiviral medications, narcotic medications, anti-inflammatory medications, antihistamines, anticonvulsants, creams, and Zostavax, out of which, the antiviral medications segment is anticipated to hold the largest share in the global zoster treatment market. This can be accounted to the ability of these medications to shorten the length of a viral infection, and their effectiveness in shortening the course of several viral illnesses. Additionally, on the basis of route of administration, the oral segment is predicted to acquire the largest share during the forecast period. Acyclovir, famciclovir and valacyclovir are some of the most common drugs for treating zoster, which are taken via oral route of administration. This in turn is largely forecasted to drive the growth of the market segment in the future.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Zoster Treatment Market Regional Synopsis
On the basis of geographical analysis, the global zoster treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing occurrence of herpes zoster, and rising initiatives by governmental and non-governmental organizations associated with vaccination drives. Moreover, the market in North America is anticipated to acquire the largest share over the forecast period owing to the public authority support in several vaccination and awareness projects, and increasing elderly population in the region. Apart from these, allocation of high healthcare expenditure is also expected to boost the region’s market growth in the imminent time. As per the Centers for Medicare and Medicaid Services, the healthcare spending in the United States reached a value of USD 3.8 trillion, or USD 11,582 per person in 2019. The health spending accounted for 17.7 percent of the nation’s GDP.
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The global zoster treatment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global zoster treatment market includes the following segments:
By Treatment Type
- Antiviral Medications
- Narcotic Medications
- Anti-Inflammatory Medications
- Antihistamines
- Anticonvulsants
- Creams
- Zostavax
By End User
- Hospitals
- Clinics
- Diagnostic Centers
- Others
By Route of Administration
- Oral
- Parenteral
- Topical
Growth Drivers
- High Prevalence of Zoster Globally
- Rising Introduction of Vaccines and Medications for Self-Treatment
Challenges
- High Cost of Treatment of Zoster
Top Featured Companies Dominating the Market
- Novartis AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Valeant Pharmaceuticals North America, LLC
- Merck & Co., Inc.
- Abbott Laboratories
- Teva Pharmaceutical Ltd
- Camber Pharmaceuticals, Inc.
- Gilead Sciences Inc.
- Mylan NV
- GlaxoSmithKline plc
- Maruho Co. Ltd.
