Astute Analytica has released new research on the worldwide Respiratory Syncytial Virus market that includes competitor micro-analysis and important industry segments (2022-2030). The Global Respiratory Syncytial Virus report examines in-depth research on numerous segments, including prospects, size, growth, innovation, sales, and general player growth. The study uses primary and secondary statistical sources, and it includes both qualitative and quantitative analysis.
The Global Respiratory Syncytial Virus Market size will grow from US$ 1,823.3 Million in 2021 to US$ 4,202.6 Million by 2027. The Global Respiratory Syncytial Virus Market will record a tremendous compound annual growth rate (CAGR) of 14.9% during the forecast period 2022 to 2027.
The market study provides a thorough explanation of a number of market analysis techniques, including SWOT analysis and five-point analysis. The market report also includes an in-depth analysis of several growth plans and initiatives to broaden the business’s horizons on a regional and international scale. It gives readers a thorough explanation of all the market difficulties and development prospects related to the Respiratory Syncytial Virus market.
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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.
Regional Overview:
On regional basis, the global respiratory syncytial virus market is segmented into North America, Europe, Asia Pacific, Middle East Africa, and South America.
North America holds major share of more than 37% in the global RSV market, followed by Europe. The market growth in North America is majorly due to increasing incidence of RSV and growing infant population. Further, the market growth in the European region is majorly attributed to growing disease prevalence coupled with funding provided by the government.
COVID-19 Impact Analysis:
As Covid-19 is a respiratory disease like RSV, few companies such as GENETWORx Labs are producing RSV diagnostic kits with combination to coronavirus testing. Apart from this, the negative impact of Covid-19 was noted on manufacturing units in the starting phase of the Pandemic owing to travel ban and temporary shutdown of manufacturing units. Further, Covid-19 is expected to impact RSV vaccines in the clinical trial phase, it is anticipated that the trials may get extended, or other changes can be made to the studies’ protocol.
Competitive Landscape:
Key players in the global RSV market include 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, mAbxience, Medivir AB, Merck Co., Inc., Pfizer Inc., ReViral Ltd., Sanofi and Teva Pharmaceutical Industries Ltd.
Companies operating in the global RSV market are involved in strategic partnerships, mergers and acquisitions, and new product development. For instance, in March 2021, ReViral Ltd and LianBio entered into partnership and license agreement for developing and commercializing Sisunatovir in China.
Segmental Analysis:
The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the global Respiratory Syncytial Virus Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market’s overall size.
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Segments Overview:
The global RSV market is bifurcated into drug type, dosage form, treatment type, and distribution channel.
By Drug Type
- Ribavirin
- Synagis
- Virazole
- Palivizumab
- Riba Tab
- Others
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.
By Dosage Form
- Oral
- Injectable
- Inhaler
- Others
The injectable dosage form segment holds for largest market share in the global RSV market. In addition, oral segment is expected to be the fastest growing segment during the assessment period.
By Treatment Type
- Immune prophylaxis
- Supportive care
- Antiviral Medications
The antiviral medication section is expected to be the fastest growing segment over the forecast period. The increasing hospitalization rate due to RSV due to the growing disease prevalence is expected to support the segment growth.
By Distribution Channel
- Hospital pharmacies
- Drug Stores
- Retail pharmacies
- Clinics
The hospital pharmacies segment holds the highest market share in the global market based on distribution channel. Hospital pharmacies are preferred distribution channel owing to the easy accessibility of all types of medications.
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