The "Monkeypox Treatment Market: Focus on Therapeutics, Vaccines and Diagnostic Kits: Distribution by Type of Product, Drug Developers, Drug Candidates, Type of Diagnostic Kit, Type of End User and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035" report has been added to ResearchAndMarkets.com's offering.
This report features an extensive study of the current market landscape and future opportunity for the players focused on the development of monkeypox therapeutics, vaccines and diagnostic kits. The report answers many key questions related to this domain.
Monkeypox is a viral disease, which is usually transmitted to humans from animals. The disease is known to have symptoms similar to those observed in smallpox patients, although it is considered to be clinically less severe. Monkeypox has recently emerged as a prominent orthopox virus affecting public health. In May 2022, multiple cases of the disease were reported in several non-endemic countries, thereby making monkeypox a disease of global concern.
Consequently, in July 2022, the World Health Organization (WHO) declared global monkeypox outbreak a Public Health Emergency of International Concern (PHEIC). In fact, till date, over 71,000 cases of the disease have been reported, globally.
In response to the monkeypox outbreak, active research and development efforts are underway to develop various therapeutics and vaccines for the treatment and prevention of monkeypox. Presently, more than 25 therapeutics / vaccines are commercialized / under development for the treatment and prevention of monkeypox. With the increase in the number of monkeypox cases globally, the demand for testing has also increased.
Key Market Insights
Growing Demand for Monkeypox Treatment Therapeutics / Vaccines and Diagnostic Kits
Due to the surge in monkeypox cases in 2022, globally, there is a growing demand for monkeypox vaccines, therapeutics and diagnostic kits. With only a few therapeutics / vaccines currently approved or granted special access for the treatment / prevention of the monkeypox disease, the existing demand for effective monkeypox vaccines and therapeutics is still unmet.
Additionally, the approved monkeypox vaccines are available at a high price, making it inaccessible to general population in developing countries, where the disease is endemic. In order to contain an outbreak, point-of-care diagnostics is very critical to ensure timely isolation and enable contact tracing of infected individuals.
Current Market Landscape of Monkeypox Treatment Therapeutics and Vaccines
The current monkeypox therapeutics and vaccines landscape is fragmented, featuring a mix of several large, mid-sized and small companies, which are engaged in the development of a number of therapy and vaccine candidates against the monkeypox virus.
It is worth mentioning that, till date, only six therapeutics / vaccines, including ACAM2000, IMVANEX / JYNNEOS / IMVAMUNE and Cidofovir / Vistide, have either received approval or been granted special access for the treatment / prevention of the monkeypox virus infection. Additionally, more than 20 monkeypox therapeutics and vaccines are in the development pipeline. Post the 2022 outbreak of the monkeypox disease globally, interest in this area of research has grown significantly.
Current Market Overview of Monkeypox Diagnostic Kits
At present, more than 165 diagnostic kits are available in the market for the detection of monkeypox virus. It is worth highlighting that over 75% of the monkeypox diagnostic kits use polymerase chain reaction (PCR) as the detection technique, followed by antigen detection kits and antibody detection kits. In pursuit of gaining a competitive edge, monkeypox diagnostic kit providers are presently undertaking various initiatives in order to expand their existing capabilities and augment their respective product portfolios.
Key Drivers in Monkeypox Therapeutics / Vaccines and Diagnostic Kits Market
More than 70 countries across the world reported cases of monkeypox, with the maximum cases being reported in non-endemic regions. This outbreak has posed the risk of monkeypox virus spreading beyond endemic areas. Consequently, governments have undertaken several initiatives to increase awareness about monkeypox disease. Big pharma players are carrying out initiatives to strengthen their respective product portfolios focused on monkeypox disease. The growing cases of monkeypox disease and availability of limited number of therapeutics / vaccines / diagnostic solutions are the key factors driving the growth of this market.
Market Size of Monkeypox Treatment Therapeutics and Vaccines
Due to the increase in incidence of monkeypox infections and the growing demand for monkeypox vaccines and therapeutics, the monkeypox market is anticipated to witness a steady growth in the foreseen future. Presently, close to 80% of the monkeypox therapeutics and vaccines market is captured by players based in North America and Asia-Pacific.
Market Size of Monkeypox Diagnostic Kits
The market for monkeypox diagnostic kits is anticipated to increase steadily in the foreseeable future due to the growing cases of the disease and the possibility of future outbreaks. Currently, over 60% of the diagnostic kits market is captured by players based in Asia-Pacific.
Key Players in Monkeypox Therapeutics, Vaccines and Diagnostic Kits Market
Examples of key players engaged in the monkeypox therapeutics and vaccines domain include (which have also been captured in this report) Bavarian Nordic and Emergent BioSolutions. Further, key players engaged in the monkeypox diagnostic kits domain include (which have also been captured in this report) ACON Laboratories, altona Diagnostics, Jiangsu Bioperfectus Technologies, Elabscience, Goldsite Diagnostics, Lansion Biotechnology, DNA Software and Hangzhou Testsea Biotechnology.
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