Respiratory Syncytial Virus (RSV) Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: March 23, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 1.84 billion |
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Revenue Forecast in 2031 |
US$ 8.73 billion |
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CAGR |
18.9% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global respiratory syncytial virus (RSV) therapeutics market was valued at US$ 1.84 billion in 2022 and is expected to register a revenue CAGR of 18.9% to reach US$ 8.73 billion by 2031.
Respiratory Syncytial Virus (RSV) Therapeutics Market Fundamentals
Respiratory syncytial virus (RSV) is a common respiratory disease-causing pathogen that affects the nose, throat, lungs, and breathing passages. The RSV belongs to the genus Orthopneumovirus, which is part of the family Pneumoviridae and the order Mononegavirales. The human RSV, bovine RSV, and murine pneumonia virus are also members of this genus. Most frequently, 4-6 days after introducing the virus, RSV infection signs and symptoms begin to manifest. Adults and older children typically experience mild cold-like symptoms from RSV.
RSV is thought to afflict 64 million individuals across the globe each year, causing 160,000 deaths. Infants with a severe RSV infection may exhibit fast breathing, coughing, poor feeding, irritability, and unusual weariness. The sole licensed therapy for RSV is a monoclonal antibody, which is advised for preventative use in high-risk people. RSV infections are thought to affect 33 million children under five each year, resulting in 3.3 million hospitalizations and 60,000 fatalities worldwide. The development of novel vaccines has been the focus of medication developers. The vaccines produced by Pfizer and GSK for older individuals have recently received favorable recommendations from the FDA’s Vaccines and Related Biological Products Advisory Committee. However, recent developments in the field have prompted the FDA to give them priority scrutiny. Nirsevimab, a brand-new mAb from AstraZeneca/Sanofi, received approval for pediatric use in the EU and the U.K. in November 2022. Before the most recent breakthroughs, the only available choice and market leader for RSV therapies was Synagis, manufactured by AstraZeneca and approved in 1998 to prevent RSV in high-risk newborns.
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Respiratory Syncytial Virus (RSV) Therapeutics Market Dynamics
The global respiratory syncytial virus (RSV) therapeutics market is expected to grow at a significant revenue CAGR in the coming years. RSV is a common respiratory virus, and the incidence of RSV infections is increasing globally. According to the World Health Organization (WHO), RSV is responsible for 33.8 million new episodes of acute lower respiratory infections in children under 5 years worldwide. With the increasing incidence of RSV infections, there is a growing demand for effective therapeutics to treat the virus. This is driving the revenue growth of the global respiratory syncytial virus (RSV) therapeutics market. Pharmaceutical companies are investing heavily in research and development to develop new and innovative therapies for treating RSV infection. This leads to the development of novel therapeutics with improved efficacy and safety profiles.
There is a growing awareness among healthcare professionals and the general public about the severity of RSV infections and the need for timely and effective treatment. This is driving the demand for RSV therapeutics. Governments and non-profit organizations invest heavily in research and development to develop new and effective therapeutics for treating RSV. This drives the revenue growth of the global respiratory syncytial virus (RSV) therapeutics market. Key stakeholders are working together to launch an RSV treatment molecule that is both affordable and effective. While traditional and non-traditional players are working together to develop a more effective and affordable RSV treatment, the healthcare environment has also substantially increased. For instance, in January 2019, Swedish Orphan Biovitrum Ab paid a staggering US$ 1.5 billion to purchase AstraZeneca’s distribution rights to the RSV preventive medication Synagis.
One of the main strategies being pursued by pharmaceutical companies in their fight against RSV is the usage of monoclonal antibodies in newborns to cause passive immunization. Pipeline products have important advantages compared to Synagis and the alternative method of immunizing expectant mothers to provide infants with passive immunization. The development of new techniques, reduced treatment prices, protection for the full season with a single injection, and instant protection against the disease are expected to boost the market revenue growth in the forecast period.
However, the current lack of specific treatment choices, the future development of RSV vaccines, the high cost of prophylaxis medications, their limited efficacy, and resistance against RSV infection are projected to hinder the revenue growth of the global respiratory syncytial virus (RSV) therapeutics market.
Respiratory Syncytial Virus (RSV) Therapeutics Market Ecosystem
The global respiratory syncytial virus (RSV) therapeutics market has been analyzed from three perspectives: drug type, distribution channel, and region.
Respiratory Syncytial Virus (RSV) Therapeutics Market by Drug Type
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Based on drug type, the global respiratory syncytial virus (RSV) therapeutics market has been segmented into Palivizumab, Ribavirin, and others.
The Palivizumab segment accounts for the largest revenue share in the global respiratory syncytial virus (RSV) therapeutics market. Palivizumab is a monoclonal antibody medication that prevents RSV infection in high-risk infants and young children. It works by binding to the RSV virus and preventing it from infecting cells in the body. The market for palivizumab is primarily driven by the high incidence of RSV infections, which can be particularly severe in young children, especially premature infants, and those with certain medical conditions, such as heart or lung disease. According to the Centers for Disease Control and Prevention (CDC), RSV is responsible for an estimated 57,000 hospitalizations and 2.1 million outpatient visits among children under the age of five in the United States each year.
Palivizumab is currently marketed under the Synagis brand by AstraZeneca, a multinational pharmaceutical company. The market for palivizumab is competitive, with several other companies also developing RSV vaccines and treatments. However, Synagis remains the only FDA-approved medication for preventing RSV infection in high-risk infants and young children and thus accounts for a significant share of the market.
The Ribavirin segment of the global respiratory syncytial virus (RSV) therapeutics market is projected to register a high revenue CAGR during the forecast period. Although clinical results showing a decreased requirement for supplemental oxygen led to the licensing of aerosolized ribavirin for the treatment of RSV, its usage is still restricted due to problems with efficacy, safety, and cost.
Respiratory Syncytial Virus (RSV) Therapeutics Market by Distribution Channel
Based on the distribution channel, the global respiratory syncytial virus (RSV) therapeutics market has been segmented into hospital pharmacies, retail pharmacies, online channels, and others.
The hospital pharmacies segment accounts for the largest revenue share in the global respiratory syncytial virus (RSV) therapeutics market. The revenue growth of the segment is affected by the fact that medical practitioners are required to administer the chemical for both treatment and prevention strategies.
Respiratory syncytial virus (RSV) therapeutics Market by Region
Based on region, the global respiratory syncytial virus (RSV) therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the respiratory syncytial virus (RSV) therapeutics market. This is due to the high prevalence of RSV infections in the region. RSV is a common respiratory virus that can cause serious illness, particularly in infants and young children, the elderly, and those with weakened immune systems. Most of the market share for RSV treatments in North America is concentrated in the United States. According to the CDC, each year, RSV causes over 2.1 million outpatient (non-hospitalization) visits among children under the age of five per year in the United States. 58,000–80,000 children under the age of five were admitted to hospitals. 60,000–160,000 hospital admissions for people 65 and older. The increasing prevalence of RSV infections and the development of new therapeutics drives the market. The availability of monoclonal antibody therapies, such as Synagis (palivizumab), has significantly reduced the morbidity and mortality associated with RSV infections in infants and young children. In addition, newer antiviral medications, such as Xofluza (baloxavir marboxil), are being evaluated for their effectiveness in treating RSV infections.
The RSV therapeutics market in North America is highly competitive, with several major players, including AstraZeneca, GlaxoSmithKline, and Sanofi. These companies invest heavily in research and development to develop new therapies and expand their market share. Thus, the North America RSV therapeutics market is expected to experience steady revenue growth in the coming years, driven by the increasing prevalence of RSV infections and the development of new and innovative therapeutics.
Respiratory Syncytial Virus (RSV) Therapeutics Market Competitive Landscape
The prominent players operating in the global respiratory syncytial virus (RSV) therapeutics market are:
Several companies are currently developing treatments for RSV, and the competitive landscape of the RSV therapeutics market is rapidly evolving. The global market is highly competitive, with several companies working on innovative treatments and vaccines for this common respiratory virus. As research and development efforts continue, fresh players will likely enter the market, further increasing competition in the RSV therapeutics space.
Respiratory Syncytial Virus (RSV) Therapeutics Market Strategic Developments
The global respiratory syncytial virus (RSV) therapeutics market is expected to register growth at a revenue CAGR of 18.9% during the forecast period.
GlaxoSmithKline Plc., Janssen Pharmaceuticals, Sanofi SA, Merck Sharp and Dohme B.V, and Bavarian Nordic are among the key players in the global respiratory syncytial virus (RSV) therapeutics market.
The palivizumab segment accounts for the largest revenue share in the global respiratory syncytial virus (RSV) therapeutics market.
Asia Pacific is expected to register the highest revenue growth in the global respiratory syncytial virus (RSV) therapeutics market during the forecast period.
The global respiratory syncytial virus (RSV) therapeutics market was valued at US$ 1.84 billion in 2022.
*Insights on financial performance are subject to the availability of information in the public domain