An across-the-board analysis of the market structure along with the forecast of the various segments and sub-segments of the market have been delivered through global Cold Sore Treatment market report. This large scale market research document not only saves precious time but also add credibility to the work. The base year for calculation in the report is considered as 2020 while the historic year is 2019 which suggests how the market is going to perform in the forecast years by informing about the market definition, classifications, applications, and engagements. Cold Sore Treatment market analysis aids to get up to date about various segments that are relied upon to observe the rapid business development amid the estimate forecast frame.
Data Bridge Market Research analyses that the cold sore treatment market was valued at USD 825.24 million in 2022 and is expected to reach USD 1,376.06 million by 2030, registering a CAGR of 6.60% during the forecast period of 2023 to 2030. ‘”Antiviral agents” dominates therapeutics type segment in the market as most of the cold are caused by common viral cold fever.
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Market Overview:
A cold sore is a fluid-filled blister that occurs on the lips or around the mouth. Fever blisters, oral herpes, and herpes labialis are all terms used to describe cold sores. Herpes simplex is the virus that causes them. Herpes simplex virus 1 is the most prevalent strain of the virus that causes cold sores. Antiviral ointments, including acyclovir and penciclovir, are applied on sores as part of the treatment. These may work for some people, but they are frequently ineffective. Antiviral oral drugs such as famciclovir, acyclovir and valacyclovir can help reduce the duration and severity of sores. Symptoms may be relieved by applying over-the-counter pain relievers to the sores (topical). Anti-inflammatory drugs could potentially be beneficial.
Global Cold Sore Treatment Market Dynamics
Drivers
- High Prevalence Rate of HSV Infection
The rising prevalence of HSV infection across the globe will act as a major driver that will result in the expansion of the market's growth rate. In persons with long-term or chronic conditions, HSV increases the chance of acquiring and transmitting HIV infection and can cause significant complications such as encephalitis and keratitis. This, combined with the rising number of patients with chronic conditions, is one of the major factors driving the demand for HSV therapy worldwide.
Some of the major players operating in the cold sore treatment market are:
- Increasing investment for healthcare infrastructure
- Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- Mylan N.V. (U.S.),
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sanofi (France)
- AstraZeneca (U.K.)
- Johnson & Johnson Private Limited (U.S.)
- Merck & Co., Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
Another significant factor influencing the growth rate of cold sore treatment market is the rising healthcare expenditure which helps in improving its infrastructure. In addition, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
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