Published: May 2021 | Report Code: LS12182 | Available Format: PDF | Pages: 187
The lip cold sore treatment market in China, South Korea, Taiwan, Hong Kong, and Southeast Asia (SEA) generated revenue of $45,262.1 thousand in 2020, and it is expected to grow at a CAGR of 6.7% during the forecast period (2021–2030). The key factors responsible for the growth of the market include the proliferating modes of transmission of herpes simplex virus (HSV), increasing prevalence of cold sores, and advancements in treatments with the rising number of product launches.
In the wake of the COVID-19 pandemic, governments of several Asian countries are taking strong measures to ensure their economies remain stable and mitigate the economic and health threats. Due to this, the manufacturing industry across the world is facing challenges owing to the availability of smaller workforces and government mandates for lockdowns. This, in turn, has affected the sales of lip cold sore products, which has further had a negative impact on the lip cold sore treatment market.
The cream category held the largest share in the lip cold sore treatment market in 2020, based on product type. Furthermore, the category is expected to retain its position in the coming years due to the fact that creams heal the sores at a fast pace and reduce symptoms such as itching, tingling, pain, and burning.
Clinics are expected to constitute the fastest-growing category in the lip cold sore treatment market during the forecast period, based on end user. This can be majorly attributed to the increasing number of visits by people suffering from lip cold sores at clinics.
The pharmacies category held the largest share in the market for lip cold sore treatment products in 2020, based on distribution channel. Furthermore, the category is expected to retain its position in the coming years due to the fact that patients suffering from HSV-1 infection are generally prescribed anti-cold sore treatment products by a doctor.
Geographically, China was the largest contributor to the lip cold sore treatment industry in 2020. The country is also expected to grow at the highest rate during the forecast period. This can be mainly attributed to the increasing prevalence of HSV-1 infection among the rural people in the country, presence of major industry players, and rising awareness of the disease.
The growing use of lip cold sore patches is the major trend in the lip cold sore treatment market. Herpes simplex labialis (HSL), or cold sores, is a recurring infection of the lips or the skin surrounding the lips caused by HSV-1. Numerous companies are strongly focusing on producing and selling treatment patches through e-commerce channels to make the access to them wider. For instance, Laboratoire HRA Pharma SAS offers COMPEED invisible cold sore patch and Mederma cold sore discreet healing patch, Quantum Health offers Lip Clear Invisible cold sore bandage patch and Super LipCare+ Invisible cold sore bandage patch, and SmartMed offers SMART COLD SORE PATCH – Thin, SMART COLD SORE PATCH - 36 Thin, and SMART COLD SORE PATCH – LARGE via online stores.
The prevalence of HSV-1 infection has increased due to the increment in the modes of its transmission. According to a study conducted by the Infectious Disease Epidemiology Group (IDEG) at Weill Cornell Medicine-Qatar WCM-Q, HSV-1 is majorly transmitted through mouth-to-mouth contact, thus causing an infection on or around the mouth, which is known as oral herpes. Moreover, symptomatic and asymptomatic viral shedding are highly common, which has enabled the virus to be transmitted further, at a high pace.
|Base Year (2020) Market Size||$45,262.07 Thousand|
|Market Size Forecast in 2030||$85,265.1 Thousand|
|Forecast Period (2021-2030) CAGR||6.7%|
|Report Coverage||Market Trends; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Competitive Analysis; Companies’ Strategic Developments; Product Benchmarking; Company Profiling|
|Market Size by Segments||By Product Type; By Distribution Channel; By End User; By Country|
|Market Size of Geographies||China; Indonesia; Philippines; Vietnam; Thailand; South Korea; Malaysia; Taiwan; Hong Kong|
|Secondary Sources and References (Partial List)||American Academy of Dermatology; American Dental Association; American Skin Association; British Association of Dermatologists; Herpes Viruses Association; National Library of Medicine; United States Food and Drug Administration; World Health Organization; Ministry of Health, Labour and Welfare of Japan|
The lip cold sore treatment market is fragmented in nature. Some of the key players in the lip cold sore treatment market in China, South Korea, Taiwan, Hong Kong, and SEA are Perrigo Company plc, Church & Dwight Co. Inc., Kyungdong Pharmaceutical Co. Ltd., Quantum Health, Carma Labs Inc., Integria Healthcare (Australia) Pty. Ltd., and Blistex Inc.
In recent years, players in the lip cold sore treatment industry have actively involved themselves in mergers and acquisitions to cut through the strong market competition.
The lip cold sore treatment market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Product Type
Based on End User
Based on Distribution Channel
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