Global Respiratory Syncytial Virus (RSV) Therapeutics Market- Snapshot
Respiratory syncytial virus (RSV) is a common and contagious virus that infects the respiratory tract of children and adults. A RSV infection can lead to serious problems such as bronchiolitis and pneumonia. In terms of revenue, the global respiratory syncytial virus (RSV) therapeutics market was valued at US$ 841.4 Mn in 2016 and is anticipated to reach more than US$ 2100.0 Mn by 2025, expanding at a CAGR of 11.7% from 2017 to 2025. Rise in prevalence of RSV infection among infants and the increasing interest of different biotechnology companies to develop various recombinant drugs to treat RSV infection are likely to fuel the global respiratory syncytial virus (RSV) therapeutics market from 2017 to 2025.
RSV is a common cause of bronchiolitis and pneumonia in babies. RSV is spread from respiratory secretions through close contact with infected persons. RSV does not usually occur until a baby is 4 to 6 week old. No specific approved drug or vaccine has been available to treat or prevent RSV infection till date. Patients are treated only by administering prophylaxis drugs. Key players are focusing on the development of new drugs and vaccines with better efficacy. NOVAVAX, Inc. is projected to launch the RSV F vaccine to prevent RSV infection in 2020, which in turn is likely to fuel the global respiratory syncytial virus (RSV) therapeutics market in the near future. However, the high price of prophylaxis drugs and a lack of return of investment in antiviral drugs are likely to hamper the global respiratory syncytial virus (RSV) therapeutics market during the forecast period.
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There are several unmet needs in global respiratory syncytial virus (RSV) therapeutics market, which create significant opportunities for existing players and new entrants in the global market. Biologics provide ample opportunities for players operating in the global respiratory syncytial virus (RSV) therapeutics market. Recent ongoing developments in biologic anti respiratory syncytial virus (RSV) drugs such as GlaxoSmithKline’s GSK 3003891A, ReViral Ltd RV521, Bavarian Nordic’s MVA-BN-RSV uncovers the potential of these drugs.
The global respiratory syncytial virus (RSV) therapeutics market can be segmented based on drug type, dosage form, distribution channel, and geography. In terms of drug type, the palivizumab segment led the market and is expected to continue its dominance during the forecast period, followed by the ribavirin drug segment. Increasing utilization of palivizumab and development of new bio similar drug of palivizumab such as CT-P14 is likely to propel the segment during the forecast period. In terms of dosage form, the injectable form segment led the market, in terms of revenue, in 2016. The segment is projected to maintain its dominant position in the market during the forecast period. The others segment, which includes (inhalation etc.), is likely to lose market share during the forecast period owing to the preference for injectable to deliver drugs. In terms of distribution channel, drug stores and retail pharmacies was the leading segment of the market in 2016. It is likely to hold a leading share of the market during the forecast period.
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In terms of geography, North America held a major share of the global respiratory syncytial virus (RSV) therapeutics market in 2016. Increasing prevalence of RSV infection among infants and the rise in awareness about the effect of the infection are likely to drive the market in North America. The market in Europe and Asia Pacific is projected to gain market share during the forecast period and is likely to account for a significant share of the market, in terms of revenue, in the near future. Initiatives by local governments to attain self-sufficiency in manufacturing pharmaceuticals and financial support for research and development for antiviral drugs in countries such as Brazil, South Africa, etc. are likely to boost the market in Latin America and Middle East and Africa.