Global Cytomegalovirus (CMV) Therapeutics Market 2019-2023 | 5% CAGR Projection Over the Next Five Years | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global CMV therapeutics market 2019-2023 is expected to post a CAGR of nearly 5% during the forecast period, according to the latest market research report by Technavio.
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The global CMV therapeutics market will post a CAGR of nearly 5% during the period 2019-2023 (Graphic: Business Wire)
Congenital CMV virus is prevalent among one out of every 200 new-borns in the US. The CMV virus causes various disorders in the new-borns. Various preventive measures are undertaken to increase the awareness about the disease has resulted in the mandatory screening of newborns. Early diagnosis and treatments have a higher possibility of curing the disease. Many vendors are researching to develop vaccines that can inhibit the progress of the CMV virus. The high prevalence of congenital MCV virus is one of the major drivers for the growth of the global CMV therapeutics market during the forecast period.
This market research report on the global CMV therapeutics market 2019-2023 also provides an analysis of the most critical trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a significant factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights newborn screening as one of the key emerging trends in the global CMV therapeutics market.
Global CMV therapeutics market: Newborn screening
The early treatment for the CMV disease is faster and simpler and prevents the progression of the virus. This reduces the number of deaths and the possibilities of disabilities caused by the disease. So, many countries around the world have mandated newborn screening in hospitals to identify the disease. For instance, the US mandated newborn screening tests in 2008 as part of Newborn Screening Saves Lives Act of 2007. This is one of the key trends that is expected to fuel the growth of global CMV therapeutics market during the forecast period.
“The high prevalence of the disease has urged many vendors to develop advanced prevention and treatment options. Recently, the US FDA approved PREVIMIS therapy by Merck, for the prevention of CMV in adult patients. Helocyte is planning to Triplex during the forecast period for the prevention of CMV. Many such advancements among vendors will significantly contribute to the growth of global CMV therapeutics market”, says an analyst at Technavio.
Global CMV market: Segmentation analysis
This market report segments the global CMV therapeutics market by ROA (oral, parenteral, and others) and geography (Asia, Europe, North America, and ROW).
The North Americas led the market in 2018 with a market share of more than 40%, followed by Europe, Asia, and ROW respectively. The dominance of North America can be attributed to the accelerating growth momentum of the CMV therapeutics market in the region.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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