Herpes Simplex Virus (HSV) Vaccines Market | How has COVID-19 affected the market?
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Herpes simplex virus (HSV) vaccines help preventing the occurrence of herpes disease. The disease can mainly occur around mouth or genitals, and also on different parts of the body. There are two different types of herpes virus. In recent years, there have been growing cases of herpes across the globe. This has led to the herpes simplex virus (HSV) vaccines market to spread to different part of the globe. The Herpes simplex virus (HSV) vaccines market is projected to show extensive growth in coming years of the forecast period.
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Global Herpes Simplex Virus (HSV) Vaccines Market: Notable Developments
The global herpes simplex virus (HSV) vaccines market has a highly fragmented landscape. Leading players in the market are constantly striving to beat each other in order to stay on top of the market.
Some of the leading players in the global herpes simplex virus (HSV) vaccines market include names such as Vical Inc., Genocca Biosciences, GlaxoSmithKline Plc., and Sanofi SA among others.
Some of the key development in the global market are given below:
- Recently, GlaxoSmithKline announced that the company has been successful in completing the phase III of its SB208141.
- In 2018, Sanofi Pasteur announced that its HSV vaccine HSV529 for treating HSV-2 is now in phase II.
Global Herpes Simplex Virus (HSV) Vaccines Market: Drivers and Restraints
There are multiple factors that are responsible for the growth of the global herpes simplex virus (HSV) vaccines market. One of the key driving factors for the market growth is increasing awareness among people about benefits of using vaccines. In addition to this, in recent years, the government have provided fast approvals to new and more advanced drugs. This has helped in the making vaccines easily available for the end users and thus helping in spreading the reach of the global market.
Another important factor that is helping to drive the growth of the global herpes simplex virus (HSV) vaccines market is the increasing focus on research and development. The leading companies in the global market are putting in heavy investments and resources for the development of new and more powerful drugs. This has also helped in the development of the global herpes simplex virus (HSV) vaccines.
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There are however some factors that may slow down the growth of the global herpes simplex virus (HSV) vaccines market. One of the key restraining factor is the absence of therapeutic and prophylactic vaccines in the end-user market. However, with constant clinical trials and extensive research studies, the market is expected to have a bright future in coming years.
Global Herpes Simplex Virus (HSV) Vaccines Market: Geographical Outlook
From a geographical point of view, the global herpes simplex virus (HSV) vaccines market is divided into five main regions. These regions are Middle East and Africa, Latin America, Europe, Asia Pacific, and North America. Of these regional segment, currently, the global herpes simplex virus (HSV) vaccines market is dominated by the North America region. Of the multiple driving factors for the growth of the regional market, an important driving factor is the increasing activities of research and development happening in the region. In addition to this, presence of several leading players in the region is also helpful for the development of the North America regional market. Furthermore, highly developed healthcare infrastructure in the region is also working in favor of the development of the regional market.
On the other hand, the regional segment of Asia Pacific is expected to show a promising growth in the coming years of the projection period. Due to the presence of the emerging economies such as China, Indonesia, Singapore, and India, the growth of the region is expected to show a promising growth rate. China and India in particular are experiencing boom in the domestic healthcare infrastructure development. This is expected to help in the growth of the regional segment.
Global Herpes Simplex Virus (HSV) Vaccines market Segmentation
- HSV-1 (Oral Herpes)
- HSV-2 (Genital Herpes)
Current and Future Threats
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The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
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