Global Herpes Labialis Treatment Market: Overview
According to study of FDA, the recurrence of diseases caused by herpes virus HSV-1 and HSV-2 has grown exponentially in past few decades. As per the records from FDA, the number of people affected by these viruses are 53.9% from HSV-1 and 15.7% by HSV-2 till 2010. Several studies suggest that these numbers are going to increase in coming years.
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Based on these data, pharmaceutical and skin care companies are focusing their resources in developing new drugs for the treatment of herpes labialis which is key factor driving growth of the global herpes labialis treatment market from 2019 to 2027. Moreover, recent technological developments in healthcare industry are also skyrocketing the growth of global herpes labialis treatment market today.
A report by Transparency Market Research offers an in-depth analysis of the global herpes labialis treatment market. It helps the readers to have a precise idea about the dynamics, trends, developments, challenges of the global herpes labialis treatment market.
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Global Herpes Labialis Treatment Market: Competitive Landscape
The global herpes labialis treatment market is highly competitive. Leveraging several technological developments, the businesses of global herpes labialis treatment market are launching new products that can strengthen their grip over the market. Moreover, businesses are adopting strategies such as mergers, partnerships, and acquisitions to accumulate resources that can help them capture a large share of the global herpes labialis market.
Presently, companies are investing a substantial amount of time and money in research and development to produce new drugs for treatments. Since there are handful of drugs to treat herpes labialis, pharmaceutical companies are constantly researching to develop new drugs to capture the global herpes labialis treatment market.
In 2018, University of Illinois at Chicago has developed a new drug that can treat herpes labialis infecting eyes, mouth and genitals without any side-effects. The need of the drug was felt when researchers found that the patients are becoming resistant to the conventional drugs present in the market.
As stated by the study, that patients are getting resistant to the already present treatments for herpes labialis, businesses are progressively investing in drug development seeking the opportunity to capture a considerable position in the global herpes labialis treatment market.
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Global Herpes Labialis Treatment Market: Key Drivers
Lack of Drugs Call for New Medicines
As mentioned earlier, there are only handful of drugs available in the market that can treat herpes labialis. This is stimulating the pharmaceutical companies to develop new drugs. For this, the players are incorporating new technologies that can help them isolate the molecule for the treatment. Moreover, challenges for maintaining optimum pharmacokinetics and pharmacodynamics of the drugs is also creating lucrative opportunities for the pharmaceutical companies. Based on the technological developments in healthcare industry and demand for new drugs to treat herpes labialis, the global herpes labialis treatment market is anticipated to grow substantially in the forecast period of 2019 to 2027.
Changing Dynamics of HSV-1 Virus Demands New Treatments
Initially, herpes infection was acquired in childhood or adolescence through non-sexual contacts. However, the epidemiology has changed adversely these days. Today the HSV-1 virus is affecting the genitals at random pace affecting majority of the population. Women are the ones who are affected the most by this virus. The virus creates cold sores around women genitals making them uncomfortable due to itching and rashes. The growing prevalence of HSV-1 virus in countries like Bulgaria, Netherlands, Germany, and some countries of North America, the demand for new drugs and treatments for herpes labiasis has been felt by the businesses. This as a result is propelling the growth of global herpes labialis treatment market these days.
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Global Herpes Labialis Treatment Market: Regional Outlook
North America is expected to emerge as the leading region in geographical front of the global herpes labialis market. This growth of the region is the result of the increasing investments by the businesses to improve clinical efficacy of the drug through research and development and frequent product innovations. Moreover, with the presence of several prominent players in the region is further expected to boost the dominance of North America over other regions of global herpes labialis treatment market in the forecast period of 2019 to 2027.
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