Respiratory Syncytial Virus Therapeutics Market: North America to Register Exponential Growth and Offer Huge Incremental Opportunity
The global respiratory syncytial virus (RSV) therapeutics market was valued at approximately US$ 820.0 Mn in 2016 is projected to expand at a CAGR of more than 11.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Respiratory Syncytial Virus Therapeutics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that the rise in unmet medical needs within the antiviral therapy to treat RSV infection and the rise in prevalence of RSV infection globally is likely to boost the demand for anti RSV infection drugs during the forecast period. North America and Western Europe are likely to dominate the global respiratory syncytial virus therapeutics market due to increasing awareness and the focus of key players on the development of new drugs and vaccine in the market in these regions. Demand for new diagnostic assay and increasing research activity in emerging markets such as China and Japan are likely to boost the Asia Pacific respiratory syncytial virus therapeutics market at a CAGR of 11.8% from 2017 to 2025.
High Price of Monoclonal Antibody Injection Hampering the Market
High price does little except leave the most vulnerable children unprotected. Human monoclonal antibodies prices have risen from single digits to triple digits in the last two decades. The cost of an antibody injection is becoming unaffordable in under-developed countries, due to a lack of price transparency. This is a major factor restraining the market. For example, the estimated average 2016-2017 seasonal cost of Palivizumab antibody injection (Synagis) to prevent RSV disease ranged from US$ 2600 to US$ 3500 in seasonal time. However, there is no approved vaccine to treat RSV infection. Therefore, still to some extent it is using in the developing and developed countries.
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Ribavirin Drug to Lose Market Share
The report offers detailed segmentation of global respiratory syncytial virus (RSV) therapeutics market based on drugs type, dosage form, and distribution channel. Among the drugs type studied, the palivizumab segment is estimated to account for a leading share of the global market during the forecast period. This is due to the unavailability of approved drugs and vaccine in the market and moreover, several studies indicate that the efficacy rate of palivizumab antibody is high and reduces the rate of hospitalization after usage. The ribavirin drug segment is anticipated to lose market share during the forecast period, and is expected to hold a share of about 23.0% by 2025, a decline from about 24% share held in 2016. Lack of efficacy of the drugs and resistance against RSV infection are factors that are likely to hamper this segment.
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Injectable and Oral Dosage Form: Top Dosage Form to Prevent or Treat RSV Infection
In terms of dosage form, the injectable segment is projected to hold a dominant share of the global respiratory syncytial virus (RSV) therapeutics market during the forecast period. The segment is likely to expand at a CAGR more than 12.0% from 2017 to 2025. Major factors responsible for the dominance of this segment is to provide instants response to treat or prevent RSV infection. For example, AstraZeneca, has developed a monoclonal antibody, called SYNAGIS, to prevent severe RSV infection, which is available in the injectable form. The advantage of this injection is that it instantly boosts the immune system to combat against the infection. The oral segment accounted for more than 31.0% share of the global respiratory syncytial virus (RSV) therapeutics market, in terms of value, in 2016. It is anticipated to witness expansion at a substantial growth rate during the forecast period. The market share held by the segment is likely to reach 32.1% of the market by 2025.
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North America to Register Exponential Growth and Offer Huge Incremental Opportunity
In terms of value, North America held a major share of the global respiratory syncytial virus (RSV) therapeutics market in 2016. This is due to the high level of research activity in the U.S.. Furthermore, presence of several key players such as NOVAVAX, Inc, Gilead Sciences, and Sanofi Pasteur has led to increased investment in research and development of anti RSV drugs. Thus, presence of these players are projected to propel the syncytial virus (RSV) therapeutics market in North America at a rapid pace during the forecast period Pharmaceutical research and development spending in emerging markets such as China and India is rising, which is also fueling the expansion of the Asia Pacific respiratory syncytial virus (RSV) therapeutics market. Regaining economic growth in Latin American markets such as Brazil is boosting research and development activity, spending is increasing in diagnosis and treatment of RSV infection in this region. This factor is likely to propel the Latin America respiratory syncytial virus (RSV) therapeutics market at a CAGR of 7.0% from 2017 to 2025.
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Key Players such as AstraZeneca plc, and AbbVie, Inc. are Likely to Lead the Global Respiratory Syncytial Virus (RSV) Therapeutics Market
The report also provides profiles of leading players operating in the global respiratory syncytial virus (RSV) therapeutics market. These include F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Valeant Pharmaceuticals International, Inc., GlaxoSmithKline plc. ReViral Ltd., Gilead Sciences, Inc., Teva Pharmaceutical Industries Ltd. and MEDIVIR AB. Expansion of anti RSV drugs and vaccines-based products portfolio through improving existing drugs and developing new drug molecules is a key strategy adopted by several key players, recent developing drugs such as CT-P14 a bio similar products of palivizumab is developing by Celltrion Inc. and other key players reflect these strategies.
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