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:
The Smallpox Treatment Market includes drugs used for the treatment of Smallpox infections. Smallpox is a contagious, disfiguring and often deadly disease caused by the variola virus. Although the disease was officially declared eradicated by the World Health Organization in 1980, there is a concern about the virus being used as a bioweapon. Currently, there are two drugs approved by the US FDA for treatment of Smallpox namely ACAM2000 and ST-246. ACAM2000 is a replication-competent vaccinia virus, similar to the older smallpox vaccine. ST-246 is an antiviral prophylaxis and post-exposure treatment being developed by Siga Technologies Inc. Smallpox treatments are important to address potential outbreaks and are stockpiled by governments globally as part of their biodefense preparedness programs.
Market key trends:
The key trends in the Smallpox Treatment market include increasing government investments in vaccine and drug stockpiling programs, continuous research for new drug development and rising R&D funding to address the threat of smallpox virus being weaponized. Major governments are stockpiling vaccines and antiviral drugs as part of their preparedness programs for potential smallpox outbreaks. Companies are focused on developing targeted smallpox therapies with improved safety profiles. Siga Technologies Inc. is engaged in development of oral tablet formulation of ST-246 to minimize potential adverse effects. Continued biodefense initiatives and increasing investment in research would be the major drivers for the smallpox treatment market.
Porter’s Analysis
Threat of new entrants: The smallpox treatment market requires high R&D investments and regulatory approvals which make it difficult for new players to enter.
Bargaining power of buyers: The bargaining power of buyers is moderate as the treatment options for smallpox are limited.
Bargaining power of suppliers: A few major players dominate the supply side which gives them stronger bargaining power over buyers.
Threat of new substitutes: There are no close substitutes for smallpox treatment currently hence threat from substitutes is low.
Competitive rivalry: The presence of large multinational players has increased competitive rivalry in the market.
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 increasing government investments worldwide for preparedness against bioterrorism attacks.
Regional analysis: North America is expected to dominate the global smallpox treatment market over the forecast period owing to rising healthcare spending and presence of major players in the region. However, Asia Pacific is likely to exhibit the highest growth rate during the analysis period due to growing awareness regarding bioterrorism threats and strengthening healthcare infrastructure in various countries.
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., 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
