Zoster Treatment Market Segmentation by Treatment Type (Antiviral Medications, Narcotic Medications, Anti-Inflammatory Medications, Antihistamines, Anticonvulsants, Creams, and Zostavax); by End User (Hospitals, Clinics, Diagnostic Centers, and Others); and by Route of Administration (Oral, Parenteral, and Topical) – Global Demand Analysis & Opportunity Outlook 2030
Buy Now Report ID: 3620 | Published Date: Feb 07, 2023
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:
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.
Our in-depth analysis of the global zoster treatment market includes the following segments:
By Treatment Type
By End User
By Route of Administration
Growth Drivers
Challenges
July 2021- GlaxoSmithKline announced that the U.S. Food and Drugs Administration approved Shingrix for the prevention of herpes zoster in adults aged 18 years or older, who are at increased risk of the condition.
February 2017- Merck declared the first Phase 3 study results for varicella zoster virus vaccine for the prevention of herpes zoster, which was claimed to reduce the incidence of cases by approximately 64 percent in immunocompromised patients.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The major factors driving market growth are high prevalence of zoster globally and rising introduction of vaccines and medications for self-treatment.
Ans: The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2022 – 2030.
Ans: High cost of zoster treatment is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the growing occurrence of herpes zoster, and rising initiatives by governmental and non-governmental organizations associated with vaccination drives.
Ans: The major players in the market are Valeant Pharmaceuticals North America, LLC, Merck & Co., Inc., Abbott Laboratories, Teva Pharmaceutical Ltd, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by treatment type, end user, route of administration, and by region.
Ans: The oral segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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