Market Challenges And Opportunities

Global Herpes Simplex Virus Treatment Market Drivers:

Rise in burden of herpes simplex virus to drive market growth

One of the key factors expected to augment the growth of the global herpes simplex virus treatment market over the forecast period is the growing prevalence of infections of the herpes simplex virus. Such a high burden of herpes simplex virus leads to an increase in demand for safe and effective therapeutics. For instance, according to the World Health Organization (WHO), the herpes simplex virus (HSV) is categorized into 2 types: HSV-1 and HSV-2. An estimated 3.7 billion people under age 50 (67%) have HSV-1 infection globally, and an estimated 491 million people aged 15 to 49 (13%) worldwide have HSV-2 infection.

Increasing number of clinical trials to propel market growth

Another factor which is driving the growth of the global herpes simplex virus treatment market is the increasing number of clinical trials around the world. For instance, growing incidence of herpes simplex virus infections has increased demand for HSV therapeutics, and thus, market players are conducting number of clinical trials to meet the increasing demand for safe/effective therapeutics. In March 2021, Precision Vaccinations and GlaxoSmithKline (GSK) launched a limited Phase 1 clinical trial for herpes simplex virus type 2 (HSV-2) candidate, HSV vaccine (GSK4108771A). Thus, such advancements boost the growth of the market.

Global Herpes Simplex Virus Treatment Market Opportunities:

Rise in demand for safe/effective HSV treatment or HSV vaccine is expected to provide significant growth opportunities for players in the global herpes simplex virus treatment market. For instance, owing to the rise in burden of HSV, players in the market are focusing on developing and launching safe and effective treatment in the market. In June 2022, Eurocine Vaccines AB signed a research and collaboration agreement with Redbiotec. The agreement give Eurocine Vaccines the exclusive global rights to develop, manufacture, and commercialize HSV-2 vaccine candidates, based on the technologies developed by Redbiotec.

Increase in awareness among people about herpes simplex virus (HSV) and available therapeutics is expected to offer lucrative growth opportunities for players in the global herpes simplex virus treatment market. For instance, National Herpes Awareness Day, celebrated on every October 13, is a chance to promote awareness about the causes, dangers, and treatment of many forms of herpes infections, notably genital herpes. The WHO is also working to increase awareness among people about HSV infection and its symptoms, improve access to antiviral medications, and promote HIV prevention efforts for those with genital herpes.

Global Herpes Simplex Virus Treatment Market Restraints:

Social stigma associated with STDs to hinder market growth

One of the key factors expected to hamper the growth of the global herpes simplex virus treatment market is the social stigma associated with sexually transmitted diseases (STDs). The social stigma associated with STDs is very prevalent worldwide, especially in countries with the less awareness about STDs. Individuals are judged and condemned for being infected with STDs and even socially outcasted in some parts of the world. Thus, people avoid being tested for STDs, which is a major restraining factor for the growth of the market.

Rising product recalls to hamper the growth of the market

Another factor which is hampering the growth of the global herpes simplex virus treatment market is the rising product recalls. The high number of product recalls owing to issue in the products or complaints from end user or labelling errors in the area is another restraining factor. For instance, in March 2021, Zydus Pharmaceuticals Inc. recalled four lots of Acyclovir Sodium Injection, 50 mg/mL, 10 mL, and 20 mL vials, to the hospital/user level after receiving several complaints of crystallization in vials because the administration of crystalized acyclovir sodium injection.