Monkeypox Vaccine and Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Over the next five years, the market for monkeypox vaccines and treatments is expected to register a CAGR of 10.1%.

At first, the COVID-19 pandemic had a big effect on the market for monkeypox vaccines and treatments.The strict lockdowns and government regulations intended to slow down the spread of COVID-19 resulted in an impact on the supply chain and research and development activities of manufacturers globally. For example, in 2021, the COVID-19 pandemic disrupted SIGA Technologies' supply chain of TPOXX (a drug used in monkeypox), causing delays in research and development activities and re-allocating funding associated with government contracts.Moreover, sales of these products have continued to be impacted by COVID-19, which restricted international travel and access to general practitioners for more routine vaccinations. Therefore, the aforementioned factors have adversely impacted the growth of the monkeypox vaccine and treatment market.

Further, the factors estimated to drive the market include an increase in the prevalence of monkeypox infection, a surge in various R&D activities, and a rise in awareness among people regarding monkeypox. In addition, government initiatives to combat outbreaks of monkeypox across the globe are among the major factors driving the growth of the studied market. Further, the increasing incidence of infection and growing demand for vaccination across the globe are likely to boost market growth during the forecast period. For instance, since early May 2022, cases of monkeypox have been reported at very high levels in countries in Europe and the Americas. Further, as per the World Health Organization (WHO) in August 2022, monkeypox infections continue to rise globally, with more than 35,000 cases across 92 countries and territories and 12 deaths. Such factors are likely to boost the adoption of the monkeypox vaccine and treatment, thereby contributing to the studied market's growth.

Moreover, government initiatives to meet the demand for monkeypox vaccines as cases are widely spreading globally are boosting the growth of the market. For instance, in August 2022, the United States (U.S.) Department of Health and Human Services (HHS) facilitated an agreement between Bavarian Nordic and Grand River Aseptic Manufacturing (GRAM), a Michigan-based pharmaceutical contract manufacturer, to accelerate delivery of additional smallpox and monkeypox vaccines using a new United States (U.S.) production line. Therefore, the United States (U.S.) has ordered 5.5 million vials of JYNNEOS from Bavarian Nordic to be filled, finished, and delivered by the U.S. government. This is likely to drive the market during the forecast period.

In addition, high emergency use and the need for vaccines across the globe resulted in boosting market growth across the globe. For instance, as per the Secretary of the Department of Health and Human Services' estimation in August 2022, circumstances exist justifying the emergency use of vaccines. Thus, it is estimated that the FDA may issue an EUA to allow the emergency use of unapproved vaccines or unapproved uses of approved vaccines across the globe. Further, in July 2022, the Indian Council of Medical Research (ICMR) invited expressions of interest (EOI) to develop an indigenous vaccine and diagnostic kits for the monkeypox virus. This is projected to boom the monkeypox vaccine and treatment market during the forecast period.

Therefore, owing to the aforementioned factors, it is anticipated that the studied market will witness growth over the analysis period. However, side effects associated with the vaccine and treatment are likely to impede the market's growth.

Key Market Trends

JYNNEOS/Imvanex by Vaccine Segment is Expected to Witness Growth Over the Forecast Period

The JYNNEOS/Imvanex by vaccine segment led the market in 2022. This is attributed due to the increasing patient base of monkeypox disease and the increase in the adoption of vaccines for monkeypox infection of the disease globally are some key factors fueling the growth. Moreover, various government initiatives for making vaccines available are anticipated to fuel segment growth.

Furthermore, continuous strategic developments and launches by major players in the market are positively affecting the growth of the segment. For instance, MVA-BN (Imvanex/ JYNNEOS) vaccine, approved by Bavarian Nordic A/S for prevention of smallpox and monkeypox disease in adults 18 years of age and older. Thus, United States (U.S.) Food and Drug Administration issued an emergency use authorization (EUA) for the JYNNEOS vaccine usage and supply. However, till now there is only one producer of the most advanced monkeypox vaccine. Its production capacity this year is about 30 million doses, with about 16 million vaccines available now.

Moreover, in 19 August 2022, the European Medicines Agency Emergency Task Force issued a statement deciding that intradermal use of the MVABN vaccine was acceptable in view of the outbreak situation and significant vaccine shortage. Therefore, Bavarian Nordic is looking to expand both the bulk and fill-finish capacity of its monkeypox vaccine by partnering up to expand the production and meet the demand for the vaccine for the treatment of monkeypox globally.

Various government initiatives for vaccine development expansions are driving the vaccine segment for the monkeypox vaccine and treatment market. For instance, Tonix Pharmaceuticals Collaborated with Kenya for developing Phase 1 clinical study to launch the TNX-801 Vaccine Protection Against Monkeypox by 2023. Further, in August 2022, Serum Institute (SII) submitted an expression of interest (EoI) to collaborate with the ICMR to make the monkeypox vaccine. Further, in August 2022, HHS Facilitates an Agreement to Accelerate the Delivery of Additional Smallpox and Monkeypox Vaccines Using a New United States (U.S.) Production Line during the forecast period.

Therefore, the vaccine segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

North America is Expected to Dominate the Monkeypox vaccine and treatment Market

North America is expected to dominate the market owing to factors such as an increase in disease prevalence and the presence of a number of leading players paired with various strategic initiatives undertaken by them. In addition, rising awareness among people regarding vaccination is driving the North American region. In addition, favorable support from the government and higher R&D investments are anticipated to provide lucrative growth opportunities for the North American region during the forecast period.

Key product launches, very consolidated market players, or manufacturers’ presence in the United States are driving the North American market. In addition, the United States (U.S.) has the highest number of registered cases. The increasing incidence rate in these regions is encouraging market players to develop novel treatments to manage the burden of disease in their regions, which is one of the factors driving the growth of the monkeypox vaccine and treatment market in the country. Jennyeos, the Modified Vaccinia Ankara (MVA) vaccine, for example, was approved by the FDA.Further, the FDA approved TPOXX for smallpox under the FDA's 'Animal Rule' regulations, which allow for the approval of certain drugs and biological products when they are used by humans. This is due to the large outbreak that has impacted more than 70 countries to date and has led to more than 15,000 infections, including over 2,300 in the United States by July 2022. Therefore, these continuous product launches and government initiatives and partnerships in the region are anticipated to drive the growth of the market in the country.

Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.

Competitive Landscape

The monkeypox vaccine and treatment market is highly consolidated in nature due to the presence of very few companies operating globally. The competitive landscape includes an analysis of a few international as well as local companies that hold market shares and are well known. include Bavarian Nordic A/S, SIGA Technologies, Chimerix, Inc., and Tonix Pharmaceuticals Holding Corp.

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