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Respiratory Syncytial Virus Market 2021 Global Industry Insights by Global Share, Emerging Trends, Regional Analysis, Segments, Prime Players, Drivers, Growth Factor and Foreseen
Market IntroductionThe 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.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while otherI private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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.
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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.
Growth Influencers:
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.
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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.
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.
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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.
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.
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.
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Report also includes following pointers:
• 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.
• Epidemiology and Patient Population for 8 MM (US, EU5 {Germany, France, Italy, Spain, UK}, Japan, China)
o Assumptions and Rationale
o Total Incident Cases of Respiratory Syncytial Virus
o Case-Specific Incidence of Respiratory Syncytial Virus
o Age-Specific Incidence of Respiratory Syncytial Virus
o Incident of Respiratory Syncytial Virus by Extremities (%)
• Treatment and Management of Respiratory Syncytial Virus
• Unmet Needs
• Marketed Drugs
o Synagis (Palivizumab): MedImmune/Abbott Laboratories Inc.
– Product Description
– Regulatory Milestones
– Clinical Development
– Ongoing Current Pipeline Activity
– Safety and efficacy
– Product Profile
o Virazole (Ribavirin): ICN Pharmaceuticals
– Product Description
– Regulatory Milestones
– Clinical Development
– Ongoing Current Pipeline Activity
– Safety and efficacy
– Product Profile
• Emerging Drugs
o EDP 938: Enanta Pharmaceuticals
– Product Description
– Other Development Activities
– Clinical Development
– Clinical Trials Information
– Safety and Efficacy
– Product Profile
o Nirsevimab: AstraZeneca
– Product Description
– Other Development Activities
– Clinical Development
– Clinical Trials Information
– Safety and Efficacy
– Product Profile
o MEDI8897: MedImmune LLC
– Product Description
– Other Development Activities
– Clinical Development
– Clinical Trials Information
– Safety and Efficacy
– Product Profile
o JNJ-53718678: Janssen Sciences Ireland UC
– Product Description
– Other Development Activities
– Clinical Development
– Clinical Trials Information
– Safety and Efficacy
– Product Profile
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• Target population and RSV vaccine
o Maternal
o Infants
o Children
o Elderly
• RSV Vaccines in Pipeline
The global RSV market report offers insights on the below pointers:
• Market Penetration: Report provides comprehensive data on the market offered by the key players
• Market Development: The report provides detailed information about emerging markets and examines penetration across mature segments of the markets
• Market Diversification: The report offers in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches, collaborations in the market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of the leading players.
• Product Development & Innovation: Report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global RSV market report answers questions such as:
• What is the market size and forecast of the Global RSV Market?
• What are the inhibiting factors and impact of COVID-19 on the Global RSV Market during the assessment period?
• Which are the products/segments/areas/channels to invest in over the assessment period in the Global RSV Market?
• What are the technology trends and regulatory scenario in the Global RSV Market?
• What is the market share of the leading players in the Global RSV Market?
• What strategies are considered favorable for entering the Global RSV Market?
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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