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NEW DELHI, August 12, 2021 / PRNewswire / – According to the report “Global Respiratory Syncytial Virus Market – Industry Dynamics, Market Size and Opportunity Forecast to 2027 “Published by Astute Analytica, the global Respiratory Syncytial Market is expected to grow at a CAGR of 14.9% during the period 2021-2027.
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The market lacks availability of drugs for the treatment of RSV, very few drugs are approved by the FDA for the disease. Among the available drug type segment, Virazole, an FDA approved drug, is expected to grow at the highest CAGR of around 15.9% due to its characteristic of broad spectrum antiviral activity in vitro, where it inhibits RSV replication.
The research study analyzes the impact of some of the major market drivers such as the high prevalence of RSV and other associated respiratory tract infections worldwide and the emergence of targeted therapy. According to the research analysis, the annual burden of RSV worldwide was 33.1 million in 2015, resulting in 3.2 million hospitalizations and 59,600 deaths in children. According to the Centers for Disease Control and Prevention (CDC), one to two in every hundred children under the age of six months with RSV may require hospitalization. Some of them may need oxygen, intubation, or mechanical ventilation, but the majority will improve with supportive treatment. Antiviral drugs are the frequent targeted therapy, and they work by inhibiting one or more processes of virus replication. In 2018, researchers tested the recombinant Ab of Palivizumab and Motavizumab with the IgA isotype as a targeted treatment against RSV. This ongoing research and the pipeline of emerging drugs are also contributing to the growth of the market. However, the high cost required for advanced therapies and the inaccessibility of diagnostic facilities appear to be hampering the growth of the market.
Increased government funding for treatment and proactive government initiatives generate profitable opportunities
The government has shown its willingness to work with industry to support industrial growth. The federal government of United States has played a vital role in the early development of many sectors, not only through research and development, but also through financial support for start-ups and public procurement. In 2019, nearly 80 new research projects were funded, representing a 44% increase in the number of infectious proposals funded compared to 2018. In addition, government agencies were included in the list of preclinical vaccine developers. with pharmaceutical companies. Hence, this government funding and support is expected to create lucrative opportunities for market growth.
North American Respiratory Syncytial (RSV) Market: Leading Region in the Global Market
In 2020, the North American Respiratory Syncytial Syndrome (RSV) market is expected to have the greatest hold, with a share of around 38% in the global RSV market due to increased infection rate in the region. RSV infection is responsible for approximately 2.1 million annual outpatient visits in children under five in United States, according to the Centers for Disease Control and Prevention (CDC). Increased access to disease treatment is also expected to increase demand for respiratory syncytial virus treatments in the region.
There is a high penetration of respiratory syncytial virus drugs in established health facilities in countries, such as Japan and Australia which has greatly contributed to the growth of the APAC RSV market at the fastest CAGR of 17.0% during the forecast period.
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Competitive landscape
AstraZeneca, AbbVie, Inc., Bausch Health Companies, Inc., Pfizer, Inc., SOBI, GlaxoSmithKline, and others are key players in the global respiratory syncytial virus market. These companies are conducting clinical trials on candidate RSV vaccines and treatments to remain competitive in the market and represent the number of drugs in development in their pipelines. GlaxoSmithKline, Johnson & Johnson and Pfizer are currently the market leaders in RSV vaccines and are all pursuing major Phase II research for their prospects. GlaxoSmithKline plans to initiate phase 3 research in the elderly by February 2021 to review its respiratory syncytial virus (RSV) vaccine candidate. The vaccine was well tolerated and showed promising safety and immunogenicity.
Segment overview
Market segments included in the report include analysis of market size based on revenue in different categories. For example, the oral dosage form is expected to grow at the highest CAGR of 15.9% during the forecast period, while the injectable form holds the maximum share of over 50% in 2020.
Likewise, immune prophylaxis among all types of treatment dominated the global market with a share of around 65% in 2020, while antiviral drugs are expected to grow at the fastest CAGR of 15.9% during the period. forecast.
The report provides an in-depth analysis of Respiratory Syncytial Virus (RSV) Market – Industry Dynamics, Market Size, and Opportunity Forecast to 2027, Based on the Following Segments:
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SOURCE Clever Analytica
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