Herpes Zoster (Shingles) Market: Snapshot
Herpes zoster, also known as shingles is a skin disease, signified by extreme rashes on skin. This is caused by a virus named varicella zoster, a similar one which causes chicken pox as well. The herpes zoster can be highly excruciating. However, the disease can be cured by antibiotics. In fact, early treatment can also stop it from getting worse and causing more suffering to the patients. Shingles disease is more common in people above age of 50 years. However, the infection can affect anybody with a weak immune system.
Herpes Zoster (Shingles) Market: Trends and Opportunities
At present, the vaccination for shingles treatment are creating significant scope of in the global market to keep patients healthier. This is because it is cost-effective since it reduces unnecessary hospital stay. Medications are Valacyclovir (Valtrex), Acyclovir (Zovirax), and Famciclovir (Famvir). The predominance of antibodies coupled with the pressing need to act fast for more effective meds is evaluated to drive global herpes zoster market development. The rise in geriatric population is increasing the predominance of ailments, for instance, tumor and skin diseases. Pervasiveness of herpes zoster is growing over the globe, fueling the overall market demand.
On the flip side, high cost of antibodies is restraining vaccination drive in developing economies, owing to inadequate scope of prevention. The huge pressure on healthcare specialists is due to reduction in postherpetic neuralgia from the herpes zoster vaccine. Zostavax has been effective till a certain degree in reducing postherpetic neuralgia in due to the effect of the vaccination on reducing the risk of being affected by herpes zoster. Uncertainty in government regulations along with lack of guidance from specialists in choosing appropriate anticoagulant, improper reimbursement policy, and low accuracy are among the other factors hampering the global market growth.
Herpes Zoster (Shingles) Market: Geographical Analysis
Geographically, the global herpes zoster market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). The overall advancement in the medical treatment is improving day by day. Among these, North America region is anticipated to lead the market. This region is trailed by Europe. The growth in these region is credited to the rise in number of geriatric population, and increase in number of cases suffering from herpes zoster (shingles). Moreover, the presence of several manufacturing firms is another contributing factor in the growth of these region. Apart from this, the vaccination for herpes zoster is foreseen to experience a significant development as well. However, the Asia Pacific region and Rest of the World are likely to grow with the highest pace in coming years in Herpes Zoster market.
Herpes Zoster (Shingles) Market: Competitive Landscape
Foamix Ltd., Astellas Pharma, GlaxoSmithKline Plc., Merck & Co., GeneOne Life Science, Inc., TSRL, Inc., Novartis, Roche Pharmaceuticals, Epiphany Biosciences, Beijing Minhai Biotechnology Co., and NAL Pharmaceuticals Ltd. are some of the key players leading the global herpes zoster market, globally. The major reason for the growth in market is due to penetration of manufacturers in untapped regions to expand their market presence.
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