Respiratory Syncytial Virus (RSV) Market Size, Share, Industry, Forecast and outlook (2024-2031)

Respiratory Syncytial Virus (RSV) Market

Global Respiratory Syncytial Virus (RSV) Market Set to Double in Size, Reaching USD 2.4 Billion by 2030

The global Respiratory Syncytial Virus (RSV) market, which achieved a notable USD 1.2 billion valuation in 2022, is poised for substantial growth, projected to reach USD 2.4 billion by 2030. A comprehensive market analysis indicates a robust Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period spanning 2024 to 2031. The surge is primarily attributed to the expanding elderly population globally.

Key growth drivers for the Respiratory Syncytial Virus (RSV) therapeutics market include an escalating incidence of RSV infections in infants and young children, enhanced treatment options, and a substantial presence of hospitals and specialty clinics. According to the World Health Organization (WHO), by 2030, one in six individuals globally will be 60 or older, creating a favorable landscape for the market's expansion.

Market Scope and Metrics:

CAGR: 10.2%

Forecast Period: 2024-2031

Size Available for Years: 2021-2030

Segments Covered: Drug Type, Dosage Form, Treatment Type, Distribution Channel, and Region

Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa

Fastest Growing Region: Asia-Pacific

Largest Region: North America

Report Insights Covered:

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Orthopedic Surgery key Insights.

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Market Dynamics:

Increasing Prevalence of RSV is a Key Factor Helping Market Expansion

Respiratory Syncytial Virus (RSV) is a common respiratory virus affecting young children and causing mild to severe respiratory diseases. RSV infections, prevalent in autumn, winter, and early spring, are a leading cause of lower respiratory tract infections in newborns and young children. The rise in RSV incidents, especially among infants and the elderly, is a significant factor propelling market growth.

Rise in Clinical Trials by Key Players Expected to Drive Market Growth

Key players' increased focus on clinical trials is expected to fuel market expansion. Notably, the Nirsevimab medication, developed by Sanofi and AstraZeneca, demonstrated an 83% reduction in RSV baby hospitalizations during a real-world clinical trial. Pfizer also reported positive results from its MATISSE Phase 3 clinical trial for the RSV prefusion vaccine candidate.

High Cost of Disease Management to Hamper Market Growth

The considerable cost of managing RSV, with expenses such as palivizumab ranging from $1,660 to $2,500 per dose, is anticipated to hinder market expansion. The substantial financial burden may impede the global RSV market's growth.

Market Segment Analysis:

The Nirsevimab Segment Expected to Hold Dominant Position

The Nirsevimab segment, a monoclonal antibody targeting respiratory syncytial virus, is projected to dominate the market, accounting for approximately 31.20% in 2022. Product approvals by regulatory bodies and an increasing number of clinical trials are expected to drive segment expansion.

Geographical Share:

North America Holds Dominant Position

North America is estimated to hold about 39.4% of the total market share throughout the forecast period. The region's growing burden of RSV infections, coupled with robust research and development activities, increasing investments, and government initiatives, positions North America as a key driver for the global Respiratory Syncytial Virus (RSV) therapeutics market.

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