Global Respiratory Syncytial Virus market to Hit Market Valuation of US$ 8,137.2 Million by 2032 | Astute Analytica
The Respiratory Syncytial Virus market is experiencing an unprecedented surge due to several approved vaccine in 2023. Numerous pharmaceutical giants are racing to develop vaccines and antibody treatments, targeting infants and the elderly who are most vulnerable. This has created a massive revenue potential for both preventative and therapeutic treatment solutions in the market.
New Delhi, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Global respiratory syncytial virus market was valued at US$ 2,331.3 million in 2023 and is projected to surpass the market valuation of US$ 8,137.2 million by 2032, growing at a CAGR of 14.9% over the forecast period 2024-2032.
The market for Respiratory Syncytial Virus (RSV) has gone through a critical stage, with important advancements and research findings that have introduced new hopes in preventing and managing this common disease. RSV is an important global public health challenge as it affects many infants and old people thereby adding on to the burden of respiratory diseases. It is estimated to cause 20.8 million new cases, 1.8 million hospitalizations, resulting in 40 thousand deaths, causing 1.2 million discounted disability-adjusted life years (DALYs) and an expenditure of $611 million on direct costs across the globe. The findings further indicate that the global RSV burden is much than what was previously thought necessitating the development of effective vaccines and therapeutic options.
“Innovations made in the respiratory syncytial virus market are not only breakthroughs in infectious disease prevention but also hope for millions of families across the globe,” says Dr. Jane Mizer, one of leading epidemiologists. This implies that recent vaccine developments by Pfizer and GSK among others holds transformative potential. For instance, the advent of maternal vaccines and monoclonal antibodies for passive immunization opened up a whole new world for preventing RSV infection primarily focused at protecting newborns and elderly who are highly susceptible to severe RSV infections thus reducing their occurrence rate.
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In addition, there are far reaching economic ramifications associated with having to deal with RSV globally. According to Health Economics Inc., annual cost of hospitalizations related to RSV amounts over $1.8 billion which emphasizes investment reasons for efficient management methods towards this direction. “There cannot be enough said about how cost-effective emerging RSV vaccines and therapeutics” remarks Dr. John Smith who majors in healthcare economics. This demonstrates that any innovation concerning RSV may well have two-pronged advantages such as improved public health results but it might also mean cost savings within healthcare systems too. Finally, strategic collaborations and partnerships between pharmaceutical companies are on the rise in the RSV market aimed at speeding up RSV vaccination and therapeutic product development. These collaborations are essential for overcoming vaccine development challenges so that promising treatments can be brought to the market quickly.
*Some of the Key Findings in Global Respiratory Syncytial Virus Market*
Market Forecast (2032) US$ 8,137.2 million
CAGR 14.9%
By Drug Type Synagis (34%)
By Dosage Form Injectable (50.6%)
By Treatment Type Immune prophylaxis (65.2%)
By Distribution Channel Hospitals (40.6%)
Top Trends · Significant progress in RSV vaccine development over the last decade.
· Dominance of prophylaxis in market share.
· Rising incidence of RSV in older and immunocompromised adults.
Top Drivers · Approval of RSV vaccines like Arexvy by GSK and Abrysvo by Pfizer.
· Growing RSV infection rates in North America.
· Introduction of new vaccines and treatments
Top Challenges · High Development Costs: Expensive vaccine development process.
· Inequitable Access: Limited access to vaccines in certain regions.
· COVID-19 Impact: Altered RSV research environment due to the pandemic
*RSV Market is Marked by Intense Competition and Innovation, With Key Players Like Pfizer, GSK, AstraZeneca, and Sanofi Leading the Charge*
Due to the development of vaccines and antibodies, as well as the strategic market movements by major competitors, the Respiratory Syncytial Virus (RSV) market has been undergoing significant changes. Wherein, Sanofi and AstraZeneca have rolled out RSV antibody Beyfortus that has great promise in the market. Although supply constraints are anticipated for Beyfortus, it is believed that this drug can be a blockbuster by 2024 with sales expected to double its first year on market. Beyfortus is set to dominate China’s RSV prevention market becoming the initial authorized preventive option for RSV in neonates and infants.
GlaxoSmithKline (GSK) has taken off with its RSV vaccine called Arexvy. Possible expansion of the vaccine’s label may significantly boost GSK’s position in the respiratory syncytial virus market, analysts believe. The European Medicines Agency accepted an application to expand Arexvy’s label to include prevention of RSV disease in adults aged 50-59 years at increased risk thereby giving GSK a possible entry into a new demographic group.
The competition among firms designing an RSV vaccine is fierce. After Pfizer was approved for its respiratory syncytial virus vaccine, ABRYSVO, GlaxoSmithKline became second with their Arexvy being released on the market. Following its acquisition of Icosavax, AstraZeneca has joined this race for producing vaccines against coronavirus which implies a strong competitive landscape for vaccines and viral antibodies. Therefore, several factors characterize global dynamics within our industry such as high prevalence rates of RSV infections; speedy urbanization processes; growing aging communities’ populations; increasing health care costs from various angles among others. However, some challenges like expensive nature of developing vaccines or unequal access can’t be ignored either; while forecasts reveal rapid growth due to such things as AI application in drug designs and vaccinations’ technologies improving vaccination practices as well as numerous candidates in the pipeline.
*Synagis is the Major Drug to Capture More than 34% of the Global Respiratory Syncytial Virus Market *
Synagis, an abbreviation for palivizumab, is the most dominant drug in the global market for respiratory syncytial virus (RSV) treatments and is responsible for over 34% of the market share by type of drug. The product’s influence on the market is largely due to its unique status as the solitary prevention agent that has been commercialized for RSV and its main focus lies with those born prematurely or who are below two years old. This monoclonal antibody has been the foundation of prevention against severe RSV infections thereby providing substantial immunization cover to this fragile group.
For now, Synagis’ control over the respiratory syncytial virus market is being bolstered by lack of competition in sight since no biosimilars are expected to enter clinical development anytime soon. However, there would be changes in this picture with AstraZeneca’s and Sanofi’s nirsevimab a next-generation monoclonal antibody that offers once-per-season dosing regimens. It marks the arrival of nirsevimab as a potential new standard of care poised to compete against Synagis on its market leadership during 2023/24 RSV season if its pivotal trials turn out successful. Yet Synagis has continued selling well and maintaining significant presence up to 2022/23season thus demonstrating its enduring relevance and major role it plays in preventing RSV- related hospitalizations among infants and young children.
The rising burden of RSV infections driven by high hospitalization rates among children under five years old together with vulnerable adult populations accelerates growth in global RSV market. The growing elderly population accompanied by stable birth rates represents a large pool of patients requiring treatment against RSV hence promotes overall market growth. The evolving landscape of preventions like Novavax, Pfizer, GlaxoSmithKline and targeted therapies such as nirsevimab shows how dynamic this space remains within the context of vaccination strategies against RSV. Nevertheless, high disease management costs and lack of availability in some regions have not hampered the demand for effective RSV prophylaxis and treatment that continues to increase thereby indicating a strong market outlook for Synagis and emerging rivals.
*The Year 2023 was Breakthrough Year for Pharma Companies Operating in **Respiratory Syncytial Virus Market*
The year 2023 was a turning point for players in the market of Respiratory Syncytial Virus (RSV). A watershed moment, this breakthrough year saw groundbreaking steps toward the development, endorsement and marketing of RSV-targeting vaccines and medications which cause respiratory illness to infants, seniors and immunosuppressed people as one of the main causes. A key example of this breakthrough was GlaxoSmithKline Biologicals’ Arexvy’s approval by FDA making it as the first RSV vaccine approved for use in the United States for the prevention of lower respiratory tract disease caused by RSV in individuals 60 years of age and older. This approval took place on May 3, 2023, marks a significant step towards saving lives of old people from severe complications of RSV infection.
On top of this, another milestone was reached in the respiratory syncytial virus market when FDA approved Beyfortus (nirsevimab-alip) for preventing RSV lower respiratory tract disease during neonates and infants’ first season or while entering their first RSV season and children up to 24 months old still at risk of serious RSV disease. Beyfortus became available on July 17th, 2023 hence adding an extra layer against vulnerability among infants who have just been born or are still young.
Pfizer’s Abrysvo (RSVpreF), also received FDA approval for two separate indications becoming the first vaccine licensed for use in pregnant individuals so as to prevent LRT disease due to RSV in infant aged birth through six months alongside those sixty years old and above. The two approvals were granted within 2023, thus showing great progress in strategies aimed at immunizing expectant women and elderly persons against RSV.
These approvals in the global RSV market mark a turning point not only for these companies but also public health at large. They are milestones after several years spent researching and developing new strategies that can lead to fewer cases of diseases like RSV among various groups. The commercialization of these vaccines and treatments expected to have a significant impact on the prevention of RSV-related diseases and potentially change the landscape of respiratory viral infections in years ahead.
*Top Players in Global Respiratory Syncytial Virus Market*
· 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
· Teva Pharmaceutical Industries Ltd.
· Other Prominent Players
*Astute Analytica has segmented Global Respiratory Syncytial Virus** report based on Drug Type, Dosage Form, Treatment Type, Distribution Channel and Region*
*By Drug Type*
· Ribavirin
· Synagis
· Virazole
· Palivizumab
· Riba Tab
· Others
*By Dosage Form*
· Oral
· Injectable
· Inhaler
· Others
*By Treatment Type*
· Immune prophylaxis
· Supportive care
· Antiviral Medications
*By Distribution Channel*
· Hospital pharmacies
· Drug Stores
· Retail pharmacies
· Clinics
*By Region Outlook*
· North America (U.S., Canada, Mexico)
· Europe (Western Europe [The UK, France, Germany, Italy, Spain Rest of Western Europe], Eastern Europe [Poland, Russia, Rest of Europe])
· Asia Pacific (Japan, China, India, Australia & New Zealand, ASEAN, Rest of Asia pacific)
· South America (Brazil, Argentina, Rest of South America)
· Middle East (UAE, Saudi Arabia, Egypt, Rest of Middle East)
· Africa (South Africa, Nigeria, Rest of Africa)
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BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/