DUBLIN, Aug. 31, 2021 /PRNewswire/ — The «Global Respiratory Syncytial Virus Market Size and Epidemiology (8MM), By Drug Type (Synagis, Other), By Dosage Form (Oral, Other), By Treatment Type (Immune prophylaxis, Other), By Distribution Channel (Clinics, Other) -Estimation & Forecast» report has been added to ResearchAndMarkets.com’s offering.
The global respiratory syncytial virus market held a market size of USD 1,669.5 Million in 2020 and is expected to reach USD 4,202.6 Million by 2027. The market is anticipated to grow at a healthy CAGR of 14.9% over the assessment period (2017-2027).
Respiratory syncytial virus (RSV) is a respiratory virus which affects the lungs and its bronchioles. It is one of the common causes of childhood illness which infects most children by age two years. RSV also infects adults. Severe RSV infections include pneumonia and bronchitis.
The growing disease rate is one of the key factors which boosts the market growth. According to the data published by the Cleveland Clinic, approximately 57,000 children under 5 years need hospital care due to RSV in the U.S. each year. In addition, nearly 177,000 adults are hospitalized for RSV each year.
Older adults age over 65 years are at higher risk for RSV. In addition, adults with chronic lung or heart disease and adults with weak immune system also pose high risk for severe RSV. The share of population aged 65 and above increased to 9% in 2019 from 6% in 1990 globally, according to the World Population Ageing 2019: Highlights report published by the United Nations.
The report also highlighted that this proportion is expected to increase to further 16% by the year 2050. The growing older population is expected to be favourable patient base for RSV analyzing their risk rate. Thus, the increasing older population is expected to support the market growth over the forecast period.
Likewise, the increasing newborn population also provide favorable environment for market growth. As per the research paper published by the National Institute of Allergy and Infectious Diseases (NIH), almost all children become infected with RSV by the age of 2 years, with around 75,000 to 125,000 of them hospitalized yearly in the U.S.
Strong product pipeline for RSV is also expected to support the growth of the market. For instance, in February 2021, GlaxoSmithKline plc started Phase III clinical program for studying the safety, immunogenicity, persistence, and reactogenicity RSV candidate vaccine for older adults.
Increasing Disease Burden
The rising disease prevalence of RSV is a key factor boosting the market growth. According to the data published by Centers for Disease Control and Prevention (CDC), RSV leads to about 2.1 million outpatients visits among children below 5 years in the U.S. yearly. In addition, according to the data published by Oxford Vaccine Group, around 30, 000 babies and children below 5 years of age are anticipated to be hospitalized yearly in the UK due to RSV. The increasing disease rate of RSV globally, has led to an increase in demand for effective therapies.
Advent of Targeted Therapies
Currently, new antiviral therapies for respiratory syncytial virus are in development. New long-acting monoclonal antibodies for RSV have demonstrated promising results in initial clinical trials. In addition, several market players are engaged in developing therapies for RSV.
For instance, Novavax’s ResVax – RSV F Vaccine is in Phase III. In addition, in September 2019, Janssen Pharmaceuticals announced the receival of Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA) for its investigational prophylactic vaccine developed for prevention of RSV-mediated lower respiratory disease in older adults aged 60 and above. Conclusively, the emerging number of therapies are expected to support the market growth in coming years.
High Cost of Disease Management
The cost associated with management of RSV is high which is expected to hinder market growth. For instance, the cost of palivizumab is about USD 6000. In addition, according to an article published by Journal of Perinatalogy in August 2016, the average cost of RSV hospitalizations ranged from USD 8334 among full term infants to USD 39,354 among the preterm infants. Furthermore, the cost of technology required for developing RSV therapies is high. This factor may further hamper the growth of global RSV market.
Inaccessibility Of Diagnostic Facilities
Lack of adequate diagnostic facilities for RSV in developing and under developed economies specifically in the Middle East and African region may hamper market growth. In addition, limited awareness among parents in rural areas about diagnosis of RSV may further hamper the market growth.
Synagis accounted for largest share of more than 32% in the global market based on drug type. Synagis is a drug to prevent severe respiratory syncytial virus in children and infants who are at high risk. Further, Virazole is expected to be the fastest growing market segment over the forecast period.
Key Topics Covered:
Chapter 1. Research Framework
1.2. Product Overview
1.3. Research Methodology
Chapter 2. Executive Summary: Global Respiratory Syncytial Virus Market
Chapter 3. Global Respiratory Syncytial Virus Market Overview
3.1. Industry Value Chain Analysis
3.2. Industry Outlook
3.3. PESTLE Analysis
3.4. Porter’s Five Forces Analysis
3.5. Market Dynamics and Trends
3.6. Market Growth and Outlook
3.7. Covid-19 Impact Assessment on Market Growth Trend
3.8. Regulatory Landscape
Chapter 4. Competition Dashboard
4.1. Market Concentration Rate
4.2. Company Market Share Analysis (Value %), 2020
4.3. Competitor Mapping
Chapter 5. Respiratory Syncytial Virus Market Analysis, By Drug type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 – 2027 (US$ Mn)
Chapter 6. Respiratory Syncytial Virus Market Analysis, By Dosage Form
Chapter 7. Respiratory Syncytial Virus Market Analysis, By Treatment Type
Chapter 8. Respiratory Syncytial Virus Market Analysis, By Distribution Channel
Chapter 9. Respiratory Syncytial Virus Market Analysis, By Region/Country
Chapter 10. North America Respiratory Syncytial Virus Market Analysis
Chapter 11. Europe Respiratory Syncytial Virus Market Analysis
Chapter 12. Asia Pacific Respiratory Syncytial Virus Market Analysis
Chapter 13. Middle East & Africa Respiratory Syncytial Virus Market Analysis
Chapter 14. South America Respiratory Syncytial Virus Market Analysis
Chapter 15. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
- AbbVie, Inc.
- AstraZeneca PLC
- Atea Pharmaceuticals
- Bausch Health Companies Inc.
- Celltrion Inc.
- Enanta Pharmaceuticals, Inc
- F. Hoffmann-La Roche AG
- Gilead Sciences, Inc.
- GlaxoSmithKline PLC
- Johnson & Johnson’s
- Medivir AB
- Merck Co., Inc.
- Pfizer Inc.
- ReViral Ltd.
- Teva Pharmaceutical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ibzxei
Research and Markets
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