Market Trends of Monkeypox Vaccine and Treatment Industry
This section covers the major market trends shaping the Monkeypox Vaccine & Treatment Market according to our research experts:
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.
