The Respiratory Syncytial Virus (RSV) Therapeutics Market is valued at USD 5.75 Billion in 2023 and is expected to reach a valuation of USD 15.28 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 13% from 2024 to 2031.
RSV Infections Drive Market Growth for Novel Therapeutics
Infants are especially vulnerable to RSV, a major cause of lower respiratory illnesses. Globally, 33 million children under five contract RSV each year, resulting in a concerning 3.3 million hospitalizations and 60,000 deaths. This lack of effective treatments and preventative measures presents a significant market opportunity. Currently, only two approved drugs exist. However, with rising RSV infection rates and the potential launch of new, more affordable, and effective therapies, the market is poised for significant growth in the coming years.
A key trend is the development of innovative RSV treatments with lower costs and improved effectiveness. Nirsevimab, a promising drug expected to launch in 2023, is projected to be priced at USD 600 – a stark contrast to the hefty USD 6,000 price tag of the current standard treatment. Additionally, collaboration among leading players is accelerating drug discovery efforts, aiming to address the unmet needs of the RSV-infected population.
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List of Respiratory Syncytial Virus (RSV) Therapeutics Companies Profiled in Report:
- AbbVie Inc.
- AstraZeneca PLC
- Bausch Health Companies Inc.
- Gilead Sciences
- GSK plc
- Johnson & Johnson
- Medivir AB
- Merck & Co., Inc
- Pfizer Inc.
- Sanofi
- Bavarian Nordic
- Janssen Pharmaceuticals
- Moderna Inc
- Celltrion Inc.
RSV Market Grows Beyond Infants as Aging Population and New Therapies Drive Demand
The market is expanding beyond just infants. A growing elderly population, projected to triple by 2050 according to the UN, is becoming increasingly susceptible to severe RSV infections. This surge in seniors, accounting for over 16% of the global population, creates a demand for RSV therapeutics to manage these illnesses and lessen the strain on healthcare systems.
Further driving the market is the rising number of hospitalizations due to RSV. The CDC reports significant illness and death in older adults, with 60,000-160,000 hospitalizations and 6,000-10,000 deaths annually in those over 65.
Pharmaceutical companies are combating RSV with new strategies like monoclonal antibodies for infants. These offer advantages over existing methods like Synagis or maternal vaccinations. Benefits such as novel mechanisms, lower costs, single-dose protection, and immediate prevention are expected to fuel market growth.
Nirsevimab, co-developed by Sanofi and AstraZeneca, is leading the way with promising results in reducing RSV-related hospitalizations. This focus on new treatments and preventative measures by companies is propelling the overall market expansion.
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Hospital Pharmacies Lead RSV Therapeutics Distribution
Hospital pharmacies reign supreme in distributing RSV treatments, projected to hold 60% market share by 2031. They act as central hubs within hospitals, managing medication distribution and inventory. This ensures timely access to RSV medications, including antivirals, monoclonal antibodies, and vaccines, for patients admitted with RSV or at high risk. Furthermore, they stock specialized RSV drugs not always found in retail pharmacies, allowing healthcare providers to tailor treatments to individual patient needs, especially for severe RSV cases requiring specialized care.
War and Recession: Mixed Impact on RSV Therapeutics Market
The Russia-Ukraine war disrupts Europe’s RSV therapeutics market. Ongoing clinical trials are facing delays as major pharmaceutical companies like Pfizer, Bayer, and Sanofi scale back operations in Russia. Despite humanitarian aid efforts, the overall market growth in Europe is experiencing a slowdown.
The economic recession presents a different scenario. While recessions typically decrease healthcare utilization, the current environment with heightened health anxieties is leading to a rise in demand for health insurance. This counteracts the potential negative impact, suggesting the ongoing recession will not significantly affect the RSV therapeutics market globally.
North America Dominated The Respiratory Syncytial Virus Therapeutics Market In 2023, Capturing A 47% Market Share
The region boasts well-equipped hospitals, healthcare facilities, and research institutions that facilitate the development, distribution, and adoption of RSV therapeutics. The presence of specialized medical centers and pediatric hospitals enhances access to RSV treatments and fosters clinical research and innovation in the region.
North America serves as a hub for pharmaceutical research and development (R&D), with significant investments in RSV therapeutics innovation and drug discovery. Pharmaceutical companies, biotechnology firms, and academic institutions collaborate on RSV research initiatives, clinical trials, and translational studies, propelling the development of novel treatments and vaccines for RSV infections and contributing to regional growth.
GSK and Pfizer Advance Market Growth
- In February 2024, GSK secured priority review from the FDA for their RSV vaccine targeting individuals aged 50-59.
- Pfizer’s bivalent RSV vaccine received FDA authorization in May 2023 for those 60 and above.
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Key Takeaways for Your RSV Therapeutics Market Report Purchase:
- Gain insights into the projected market size and growth rate of the RSV therapeutics market, estimated to reach USD 15.28 billion by 2031 at a CAGR of 13%.
- Understand the key factors driving market growth, including increasing RSV infection rates, a growing elderly population susceptible to severe RSV, and the potential launch of novel therapies.
- Explore the latest advancements in RSV therapeutics, with a focus on novel mechanisms of action, reduced costs, and single-dose protection options.
- Identify the dominant distribution channels for RSV therapeutics, with a breakdown of hospital pharmacies and their role in ensuring timely access to treatment.
- Learn about the potential disruptions caused by the Russia-Ukraine war on the European market and how the ongoing recession might impact market growth.
- Gain insights into the key players and their strategies in the RSV therapeutics market, including partnerships and drug discovery efforts.
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