Global Mpox Treatment Market: Insights into Diagnostic and Therapeutic Developments - UnivDatos

According to a new report by UnivDatos Market Insights, The Mpox Treatment Market was valued at approximately USD 1,025.46 million in 2023 and is expected to grow at a substantial CAGR of around 10.86% during the forecast period (2024-2032). This is mainly due to several key factors that contribute to its rapid growth. The growing number of zoonotic infections is one of them because the increased contact with animals poses higher threats of diseases such as mpox to affect humans. This has brought awareness and the need for treatment and the prevention of such diseases into the limelight. Another factor is the governmental programs and grants as the promotion of high-risk vaccines and other antiviral therapeutics, including Tecovirimat which has already received the approval of regulatory authorities in some countries. Mpox is identified to be an internationally infectious zoonotic viral disease that has been both transported globally and travelled to different countries as the world continues to globalize and as people travel. Further, the rising patient awareness to advance mpox treatment through public-private partnerships for better research and development of mpox drugs and vaccines is also driving the growth of mpox treatment market.

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For instance, in September 2023, BioNTech SE and the Coalition for Epidemic Preparedness Innovations (CEPI) announced a strategic partnership to advance mRNA-based vaccine candidates with the development of BNT166 for the prevention of mpox. Through this partnership, CEPI will provide funding of up to $90 million to support the development of mRNA-based vaccine candidates.

There has been a recent upsurge in the mpox outbreak in the several areas located in North America and more so in the US which has been receiving the highest ripple effect from the mpox breakout. Upto March 16, 2024 this year, United States has reported 511 cases which is two folds as of United States reported in this similar time span in the year 2023 and had less than 300 cases. There exists greater growth potential in this region following subsequent funding for the development of new antiviral drugs and vaccines. Thus, actions that the authorities have taken with an eye to the extension of the demand for genetic engineering to produce vaccines for mpox can also embrace a positive function in the enhancement of the chance to treat mpox. Moreover, availability of therapeutics in the region also results into growth for this market.

For instance, in April 2024, Bavarian Nordic A/S announced that JYNNEOS?, the only FDA-approved mpox vaccine, is now commercially available in the U.S., marking a significant expansion for access to JYNNEOS? by establishing additional pathways for vaccine procurement, distribution, and reimbursement by both public and private payers.

Increasing Prevalence of mpox is driving high demand in Canada

The current high rate of mpox infection in Canada is very influential in determining the need for treatment and prevention measures. Since outbreak in May 2022, Canada has recorded 1,541 mpox cases as of August 17, 2024, and most of them in Ontario, Quebec, and British Columbia. Additionally, governmental support such as increased support and surveillance is further assisting in mpox treatment market growth. For instance, with growing cases of mpox, Canada’s government states and health agencies of Canada are monitoring the global mpox situation closely and working with domestic and international partners to determine opportunities for support. The Public Health Agency of Canada (PHAC) has recently ensured the administration of Imvamune vaccine which is decisive for the prevention of mpox among the targeted groups. It makes vaccination campaigns a critical requirement, apart from disease outbreaks, due to their importance in reducing the number of severe cases that utilize the health facilities.

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Conclusion

Thus, the market in North America has great growth potential, because the region has a high prevalence of mpox. With the availability of advanced technologies including the use of AI for rapid drug discovery and presence of key market players within this region, the mpox treatment market is increasing significantly in the continent. The commitment that North America has made to bring innovation in this market further escalates North America’s position as the leading region for mpox treatment market growth. According to the Univdatos Market Insights analysis, the rise of prevalence of mpox, increasing mpox vaccination, government support, and increasing focus towards preventive measures drive the mpox treatment market. As per their “Mpox Treatment Market” report, the global market was valued at USD 1,025.46 million in 2023, growing at a CAGR of about 10.86% during the forecast period from 2024 - 2032.