Global Hand, Foot, and Mouth Disease Treatment Market value was US$ 2,900.6 million in 2022 and is projected to generate a revenue of US$ 4,942.2 million by 2031, growing at a CAGR of 6.1% during the forecast period from 2023 to 2031.
Hand, Foot, and Mouth diseases an extremely contagious viruses and are spreading rapidly. Globally, the increased incidence of viral infections, government initiatives, and intense research and development are the primary factors driving the market’s expansion. East and Southeast Asia are the regions where the disease is most prevalent, providing a clear geographic focus for companies and investors interested in this market.
Get a Free Sample Report here- https://www.astuteanalytica.com/request-sample/hand-foot-mouth-disease-treatment-market
The growing prevalence of HFMD will fuel the expansion of the global market. For instance, in October 2023, Bay County witnessed a rise in hand, foot, and mouth disease cases. In line with this, the health agency informed the community about more than 20 cases of hand, foot, and mouth disease in Bay County. Apart from this, Penang recorded 5,335 cases of hand, foot, and mouth disease (HFMD). With 4,298 instances or 80.6%, of HFMD cases in Penang are in children aged six and younger.
Over the past few years, awareness of hand, foot, and mouth diseases has increased among the general people. This has offered governments of different nations to launch various awareness efforts for consumers. For instance, in September 2023, India’s Minister for Animal Husbandry & Dairy Development declared that the nation’s objective is to eradicate foot and mouth disease (FMD) by 2030. According to the release, the first steps have been taken to successfully introduce a combination vaccine for the disease and hemorrhagic septicemia in Haryana.
Artificial Intelligence a Digital Treatment Option: Offering Potential for the Market
Smartphone-based disease management relies heavily on artificial intelligence technologies, including machine and deep learning approaches. Similar to this, smartphone-based HFMD detection with deep learning capabilities will be crucial for diagnosing and treating the condition.
For instance, a mobile AI application that analyzes symptoms captured with a camera to identify suspected cases of HFMD. As per our analysis, given that the number of smartphone users worldwide could reach millions by 2025, with smartphone penetration exceeding 70% in Southeast Asia, such an application could provide an instant preliminary diagnosis and will allow manufacturers to launch more treatment options for consumers.
According to a 2022 report by Global Health Metrics, the use of AI-driven diagnostic technologies has increased dramatically by about 35% since 2020, with prediction accuracy rates occasionally reaching as high as 90%. Though still in its infancy, the AI diagnostics HFMD market is predicted to grow at a 15% compound annual growth rate (CAGR) from 2023 to 2031.
Key Takeaways of the Global Market
- Based on virus type, in 2022, the Coxsackievirus A16 accounted for 54.3% share of the global market. The segment is estimated to register the highest projected Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.
- Based on drug type, Non-steroidal Anti-inflammatory Drugs (NSAIDs) dominated the market, accounting for 59.89% market share in 2022. The segment is anticipated to grow at a CAGR of 6.6% during the forecast period due to the ongoing reliance on these drugs.
- Based on route of administration, topical formulations held the highest share of 57.8% in 2022. The segment will grow at a CAGR of 6.6% during the forecast period due to its relevance, which signifies its continued predominance in the foreseeable future.
- Based on distribution channels, retail pharmacies generated over 47.9% of the hand, foot, and mouth disease treatment market share in 2022.
Asia Pacific Controlled Over 50% of Revenue Share of the Global Market
The Asia Pacific region emerged as a significant leader in the global Hand, Foot, and Mouth Disease (HFMD) Treatment market. Asia-Pacific’s dominance became clear with a sizeable 54% share of the global hand, foot, and mouth disease treatment market revenue in 2022. This can be due to the region’s unique demographic and epidemiological characteristics.
Asia-Pacific, which includes some of the world’s most populated countries, including China and India, is a hotbed of high population density, particularly in developing urban centers. Due to the prevalence of HFMD, which frequently results in millions of cases each year during severe outbreaks, China has historically been the largest potential market. The Asia-Pacific region is highly significant in the market, particularly in Malaysia, Vietnam, Singapore, and Japan.
For instance, during the first week of October in 2023, the Hanoi Center for Disease Control (HCDC) reported an additional 265 cases of hand, foot, and mouth disease (HFMD), which is twice as many as during the same period in the previous month. Comparing this figure to the same period in August, it increased by 3.5 times. A physician at the Vietnam National Institution of Pediatrics reported that a considerable increase has been observed in the number of children seeking evaluation and treatment for HFMD at the institution.
For the full report, please follow this link:- https://www.astuteanalytica.com/industry-report/hand-foot-mouth-disease-treatment-market
List of Prominent Competitors
- Emergex Vaccines Ltd
- Bejing Vigoo Biological Co., LTD
- Shanghai Zerun Biotechnology
- Sentinext Therapeutics
- Sinovac Biotech.
- Other Prominent Players
The global hand, foot, and mouth disease market segmentation focuses on Virus Type, Drug Type, Route of Administration, Distribution Channel, and Region.
By Virus Type
- Coxsackievirus A16
- Coxsackievirus A6
- Enterovirus 71 (EV-A71)
By Drug Type
- Pain Relievers
- Non-steroidal Anti-inflammatory Drugs
- Nucleoside Analogue Antivirals
By Route of Administration
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
Get a Free Sample Report Here- https://www.astuteanalytica.com/request-sample/hand-foot-mouth-disease-treatment-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
𝐆𝐞𝐭 𝐢𝐧 𝐭𝐨𝐮𝐜𝐡 𝐰𝐢𝐭𝐡 𝐮𝐬
𝐏𝐡𝐨𝐧𝐞 𝐧𝐮𝐦𝐛𝐞𝐫: +𝟏𝟖𝟖𝟖𝟒𝟐𝟗𝟔𝟕𝟓𝟕
𝐕𝐢𝐬𝐢𝐭 𝐨𝐮𝐫 𝐰𝐞𝐛𝐬𝐢𝐭𝐞: https://www.astuteanalytica.com/