by The global Smallpox Treatment Market is estimated to be valued at US$ 68.7 Mn in 2023 and is expected to exhibit a CAGR of 1.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Smallpox vaccines are used to prevent smallpox infections. They help develop immunity against the smallpox virus. Smallpox vaccines contain materials that help the body develop antibodies against the virus without causing the disease.
Market key trends:
Increasing research activities for developing smallpox antiviral drugs is supporting market growth. For instance, Tecovirimat, developed by SIGA Technologies Inc., was approved by the FDA in 2018 for treatment of smallpox. The drug works by inhibiting a protein required by the smallpox virus for its replication. Several government initiatives to stockpile treatments and vaccines in preparation for potential bioterror attacks are also propelling the market forward. The smallpox treatment market is witnessing increased consolidation. Major industry players are actively acquiring promising drug candidates and technologies through mergers and acquisitions to bolster their product pipelines. For instance, in 2021, SIGA Technologies acquired all the remaining smallpox antiviral assets belonging to Chimerix, including TPOXX. Such strategic deals allow companies to strengthen their market position.
SWOT Analysis
Strength: SIGA Technologies has exclusive rights over TPOXX, currently the only approved treatment for smallpox.
Weakness: Threat of smallpox attacks is low currently due to successful eradication efforts, reducing incentives for R&D.
Opportunity: Government stockpiling initiatives in developed countries to strengthen biodefense is driving demand.
Threats: High entry barriers for new players due to high R&D costs and regulatory hurdles. Generic competition once patents expire can erode prices.
Key Takeaways
The Global Smallpox Treatment Market Size is expected to witness high growth, exhibiting CAGR of 1.8% over the forecast period, due to stockpiling of antiviral drugs by governments to strengthen biodefense preparedness.
The North American region currently dominates the market, with the U.S. being the largest stockpiler of smallpox medications globally. Investments toward establishment of strategic national stockpiles are driving the regional market.
Key players operating in the smallpox treatment market are SIGA Technologies Inc., Bavarian Nordic A/S, Takeda Pharmaceutical Company Limited, Johnson & Johnson, Emergent BioSolutions Inc., Novartis International AG, GlaxoSmithKline plc, Sanofi Pasteur SA, Merck & Co. Inc., Pfizer Inc., Bharat Biotech International Ltd., BioCryst Pharmaceuticals Inc., and Chimerix  Inc., Nanotherapeutics Inc., Bavarian Nordic A/S.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
