North America Cold Sore Treatment Market to Perceive Remarkable Growth at a CAGR of 5.6% by 2030
North America Cold Sore Treatment (for HSV 1 Virus) Market report is the broad market research report which studies the challenges, market structures, opportunities, driving forces, emerging trends, and competitive landscape of Healthcare industry. Moreover, the report revises general market conditions, estimates market share and possible sales volume of Healthcare industry, figure out the probable market for a new product to be launched and discover the most appropriate method for the distribution of certain product. By taking into consideration specific base year and historic year, calculations in the report have been performed which interprets the market performance in the forecast years by giving information about what the market definition, classifications, applications, and engagements are.
The North America cold sore treatment (for HSV 1 virus) market is expected to grow in the forecast year due to the rise in market players and the availability of advanced services. Along with this, manufacturers are engaged in R&D activities for launching novel products in the market. The proliferation in modes of transmission of HSV is further boosting market growth. However, a dearth of awareness about the onset and symptoms of cold sore and its treatment might hamper the market growth in the forecast period.
The North America cold sore treatment (for HSV 1 virus) market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 5.6% in the forecast period of 2023 to 2030 and is expected to reach USD 690.51 million by 2030 from USD 446.54 million in 2022.
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Cold sores or oral herpes are small blisters-like abrasions that occur due to the infection caused by the Herpes Simplex Virus (HSV). Cold sores generally occur on the face, around the lips, chin, cheeks, and nostrils. They generally cause pain and itching before they burst. HSV is one of the most common viruses found to affect the global population and it is endemic throughout the world. Up to 90% of people around the world have at least one form of HSV. It generally infects the pediatric population worldwide, but according to WHO, people aged 30-49 are at higher risk now for catching the virus, and the prevalence of HSV increases with age.
Opportunity
· Increasing Use of Cold Sore Patches
The increasing cases of cold sores have created numerous opportunities for the market players and potentially surged the demand for treatment options required to treat the HSV-1 infection or associated disease. Due to this reason, various key market players are investing more in HSV research to come up with novel treatment options.
Several technological advancements are taking place for the treatment of cold sores, including all medical research aimed at introducing new technologies (vaccines, therapy, drugs, and patches) for the treatment of cold sores. Patches are consistently in demand for their effectiveness against cold sores.
Also, the strategic initiatives taken by key market players will provide structural integrity and future opportunities for market growth in the forecast period of 2023-2030.
Some of the major players operating in the North America cold sore treatment (for HSV 1 virus) market are GSK plc., Novartis AG, Viatris Inc., Hikma Pharmaceuticals PLC, HRA Pharma, Quantum Health, URGO, Apotex Inc., Church & Dwight Co., Inc., Bausch Health Companies Inc., Zydus Pharmaceuticals Inc., Haleon Group of Companies, Amparo medical Technologies, Teva Pharmaceuticals USA, Inc., Carma Labs Inc., and Blistex Inc. among others.
Recent Developments
In October 2022, GSK plc. and Tempus, a U.S.-based precision medicine company, entered into a three-year collaboration agreement that provides GSK with access to Tempus’ AI-enabled platform, including its library of de-identified patient data. Through its leading Artificial Intelligence and Machine Learning (AI/ML) capability, GSK will work together with Tempus to improve clinical trial design, speed up enrolment, and identify drug targets. This will contribute to GSK’s R&D success rate and provide patients with more personalized treatment faster.
In July 2022, Haleon Group of Companies announced the completion of the spin-off of the healthcare business from GSK Group to Haleon Group. Haleon is the world's leading consumer health company, with brands trusted by millions of consumers worldwide. Its product range includes five main categories- oral health, pain relief, respiratory health, digestive health, and others, as well as vitamins, minerals, and dietary supplements (VMS). Its long-standing brands such as Advil, Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident, Parodontax, and Centrum are based on sound science, innovation, and a deep understanding of people.
North America Cold Sore Treatment (for HSV 1 Virus) Market Scope
The North America cold sore treatment (for HSV 1 virus) market is segmented into product type, route of administration, type, gender, drug type, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product Type
· Medications
· Ointments
· Creams
· Medicated Lip Balms
· Cold Sore Patches
· Non-Medicated Products
Based on product type, the market is segmented into medications, ointments, creams, medicated lip balms, cold sore patches, and non-medicated products.
Route of Administration
· Oral
· Topical
· Others
Based on route of administration, the market is segmented into oral, topical, and others.
Type
· Prescription Drugs
· Over The Counter (OTC) Drugs
Based on type, the market is segmented into prescription drugs and Over The Counter (OTC) drugs.
Gender
· Male
· Female
Based on gender, the market is segmented into male and female.
Drug Type
· Branded
· Generics
Based on drug type, the market is segmented into branded and generics.
End User
· Hospitals
· Specialty Clinics
· Homecare Setting
· Others
Based on end user, the market is segmented into hospitals, specialty clinics, homecare setting, and others.
Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· Others
Based on distribution channel, the market is segmented into hospital pharmacy, online pharmacy, retail pharmacy and others.
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