Penciclovir market Growth Analysis Report, Forecast to 2028 The Penciclovir market accounts for nearly 2% of the market share by value of the overall Antiviral Drugs Market, which was valued at nearly US$ 52.7 Bn in the year 2020. P enciclovir market experienced an increase in the demand in the past few year owing to the rising prevalence of herpes labialis infections around the world. The global Herpes Labialis Treatment Market is expected to register a CAGR of nearly 4.7% over the forecast period (2022-2028) owing to increasing cases of recurrent herpes simplex infections. The Penciclovir market recorded sales worth U.S. $ 1.03 Bn in the year 2021 and is expected to reach U.S. $ 1.42 Bn by the year 2028, according to the Future Market Insights (FMI) study. Herpes labialis is caused by herpes simplex virus (HSV), which primarily affects the lips and are alternatively called as cold sores. According to the World Health Organization’s 2020 statistics, approximately 3.7 million people suffered from HSV 1 infection globally. Various countries are focusing on prevention of viral diseases to reduce their healthcare costs, which in turn, is expected to result in high demand for advanced treatment options and diagnostic processes from local governments and third-party payers. Unavailability of effective diagnostic processes and treatment process has triggered the need for cost-effective treatment options with high specificity and sensitivity. As a result, companies operating in Herpes Labialis Treatment Market are currently focusing on the development of cost-effective treatment processes. Moreover, increasing research and development activities to develop highly specific antifungal products are also expected to create new growth opportunities for manufacturers operating in antiviral treatment market. Currently, several countries are still unaware about antiviral treatment (Cure). In several low income countries, physicians depend on antibacterial and steroids for the treatment process. Awareness about effective treatment procedures in these countries is very low. However, these countries have a large patient pool and hence, various companies are trying to enter into these markets by offering better quality and affordable antiviral products. The topical mode of drug administration for the treatment of herpes labialis is preferred by the patients, since it provides immediate symptomatic relief for the cold sores affecting the lips. Thus, this novel mode of treatment will provide many lucrative opportunities for the manufacturers in the Herpes Labialis Treatment Market over the forecast period. The sales of acyclovir in the year 2021 are expected to reach U.S. $ 305.4 Mn, which accounts for approximately 30% of the total Herpes Labialis Treatment Market. Acyclovir is the most commonly used anti-viral for the treatment of HSV1 infections, which present the manufacturers with numerous profitable opportunities in the near future. 2012-2021 Herpes Labialis Treatment Demand Outlook Compared to 2022-2028 Forecast According to the study by Future Market Insights (FMI), the Herpes Labialis Treatment Market expanded at the cumulative CAGR of 4.2% between 2012 and 2021. Increased investments in the R&D activities by the governmental authorities as well as the key players of this market, rising prevalence of HSV infections, the paradigm shift of governments towards preventive treatments for viral infections are some of the key drivers of the Herpes Labialis Treatment Market. In November 2017, the U.S. FDA published latest guidelines for the development of antiviral drugs specifically for the management of recurrent herpes labialis (RHL). These guidelines were made to help investigate the safety testing which is of utmost importance for the approval of any antiviral drug. The key players of Herpes Labialis Treatment Market are adopting strategies such as acquisition to increase their product portfolio and thereby improve their market presence worldwide. In August 2016, Teva Pharmaceuticals announced the acquisition of Actavis Generics, which helped the company to get a stronger hold in the generics market and expand their product portfolio across the world. In April 2021, Pfizer Inc., announced the acquisition of Amplyx Pharmaceuticals, a U.S. based company to help them advance their anti-infective pipeline, and expand their product portfolio of antifungals and antiviral treatments. The Herpes Labialis Treatment Market is consolidated by players such as Novartis AG, Valeant Pharmaceuticals International Inc. (Bausch Health), Pfizer Inc., Abbott laboratories, Sun Pharmaceutical Industries, Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline Plc., and Dr. Reddy’s Laboratories. Future Market Insights expects the Herpes Labialis Treatment Market to expand at a CAGR of 4.7% over the forecast period. Increased R&D activities in this field, key players participating in acquisitions are some of the factors which are contributing to the market expansion. What is the Impact of the COVID-19 Crisis on the Market? Many studies were conducted to study the association between herpes simplex virus and SARS-CoV-2 virus which suggested that reactivation of herpes simplex virus may occur in immunocompromised patients suffering from COVID-19. Not many researchers could prove the exact prevalence of this association. In an article “Herpes simplex and herpes zoster viruses in COVID-19 patients”, published in the National Library of Medicine, stated that the prevalence of HSV infections in COVID-19 patients was less than 3%. Because of these research articles being published and associated fears, the COVID-19 pandemic affected the Herpes Labialis Treatment Market positively. The COVID-19 pandemic, on the other hand, disrupted not only research and development of other therapies and drugs for medical conditions other than COVID-19, but also treatment procedures and pharmaceutical supply chains around the world. What are the Key Opportunities for Manufacturers of Herpes Labialis Treatment Industry? Vaccines have protected millions of people from a variety of infectious diseases, but not herpes. Despite 50 years of trying, an effective preventative vaccine has eluded scientists. The scientists are trying to develop ingenious method to stop herpes virus to evade the immune system and infect the human body. Companies are increasing research and development for the treatment and prevention of herpes diseases. Most of the companies are focusing on approval and launch of generic drugs in the undeveloped countries to provide low cost drugs for the treatment of viral infections. Thus, innovations to prevent the HSV infection, and emerging markets in the developing countries are expected to provide lucrative opportunities for the manufacturers of Herpes Labialis Treatment Market. Herpes Labialis Treatment Market - Competitive Landscape The key players of Herpes Labialis Treatment Market are actively seeking product approvals, undertaking strategic acquisitions to improve their presence in the market and strengthen their foothold in the industry. In January 2018, Dr. Reddy’s Laboratories announced acquisition of 8 Abbreviated New Drug Applications (ANDA) from Teva Pharmaceuticals along with an affiliate of Allergan PLC in the U.S. This acquisition helped Dr. Reddy’s Laboratories to acquire Teva’s generic product portfolio which they gained after acquiring Allergan’s generic business. In July 2021, GlaxoSmithKline announced the U.S. FDA approval of their herpes zoster recombinant vaccine, Shingrix, which can be used for the prevention of herpes zoster in adults above 18 years of age who are at risk of contracting this infection due to any known causes of immunosuppression. Innovative product launches, unavailability of confirmed treatment for HSV infections, unavailability of proven vaccination for herpes simplex and herpes zoster infections are some of the key opportunities which could prove beneficial for the manufacturers of Herpes Labialis Treatment Market. For More Info: