Respiratory Syntactical Virus (RSV) Market, By Drugs Type (Palivizumab, and Ribavirin), By Dosage Form (Oral, and Injectable), By Diagnostics Method (Rapid Antigen Diagnostic Test, Direct Fluorescent Antibody Method, Gel Microdroplets, Chromatographic Immunoassay, Molecular Diagnostics, Diagnostic Imaging, and Flow Cytometry), By End-Use (Drug Stores and Retail Pharmacies, Hospitals and Clinics, and Clinical Laboratories) - Analysis & Forecast 2020-2030
Report ID : 416 | Published Date : Jan 2021 | Pages : 150 | Region : Global | Report Code : HC-223
Respiratory Syntactical Virus (RSV) Market Introduction & Overview
Respiratory syncytial virus (RSV) is responsible for infecting the lungs and respiratory tract. It is most common in babies, below 2 years, premature infants, older adults with heart and lung diseases, or anyone with weak immune systems. However, in adults, the elderly population, and healthy children, RSV is responsible for the mild common cold, which can be easily cured via self-care measures. In general, the sign and symptoms of respiratory syncytial virus infection account for congested or runny nose, dry cough, low-grade fever, sore throat, sneezing, and headache. As for the infants, symptoms of severe RSV accounts for struggling to breathe, poor feeding, unusual tiredness, and irritability; apart from the basic symptoms.
The respiratory syncytial virus (RSV) market is witnessing double-digit growth rate which is accounting for the rising global burden of RSV infections, fuelling demand for Point-of-Care molecular diagnostic tests, coupled with growing number of approvals for respiratory syncytial virus diagnostic kits and assays. For instance, as per the recent December 2020 data published by the Centers for Disease Control and Prevention (CDC), stated that approximately 2.1 million children younger than 5 years old were reported to have outpatient visits, and nearly 177,000 adults older than 65 years were hospitalized due to RSV infections in the U.S.
On the contrary, the low detection limits of immunoassays coupled with the expensive cost of prophylaxis drugs are the major growth hampering factors, diminishing the overall respiratory syncytial virus market size. However, the adoption of advanced technology in diagnostic methods offer profitable business growth, boosting the revenue generation of the market. But, the development of RSV vaccines still serves to be the challenging factor, restricting the business growth. So far, there is no vaccine for this infection, but Novavax’s particle-based vaccine named RSV F Nanoparticle has entered the third phase of clinical trials along with Astra Zeneca and Safoni’s Anti-F mAb.
The global respiratory syntactical virus market is segmented by drug type, dosage form, diagnostics method, end-use, and region.
Respiratory Syntactical Virus Market by Drugs Type
Based on drug type, the respiratory syntactical virus market is segmented into Palivizumab, Ribavirin, and others. The palivizumab segment captures the majority of market shares and is likely to grow at the promising growth rate during the review period. Growing adoption of palivizumab with the development of new biosimilar drug of palivizumab such as CT-P14 is expected to propel the segment growth. The segment growth is followed by the ribavirin drug segment.
Respiratory Syntactical Virus Market by Dosage Form
Similarly, in terms of dosage form, the respiratory syntactical virus market can be segmented into oral, injectable, and others. The injectable segment is anticipated to record significant business revenue and is expected to dominate the dosage form segment in the next few years. The other segment, which includes inhalations, is estimated to lose its market size, owing to the shifting preferences towards injectable for the drug delivery process.
Respiratory Syntactical Virus Market by Diagnostics Method
Based on the diagnostics method, the market is broadly divided into molecular diagnostics, Direct Fluorescent Antibody (DFA) Method, chromatographic immunoassay, Rapid Antigen Diagnostic Test (RADTs), diagnostic imaging, flow cytometry, gel microdroplets, and others. The chromatographic immunoassay includes gravity-driven test and oligochromatography. Amongst all, molecular diagnostics is estimated to have the largest market share, owing to its high accuracy rate over other diagnostic methods. Besides, the Rapid Antigen Diagnostic Test (RADT) segment is projected to offer lucrative growth opportunities over the forecast period.
Respiratory Syntactical Virus Market by End-Use
Depending upon end-use, the industry is categorized into hospitals and clinics, drug stores and retail pharmacies, clinical laboratories, and others. In terms of maximum growth rate, the hospital and clinics govern this segment and will remain the same in the next decade. Segment growth is attributed to the growing number of RSV infection in neonates and infants. This results in round-the-clock monitoring, and thus responsible for boosting the segmental growth.
Respiratory Syntactical Virus Market by Region
The global respiratory syntactical virus market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). In terms of growth rate and revenue, North America respiratory syntactical virus market rules the industry, owing to the high occurrence of the infection in this region coupled with the growing awareness about the respiratory syntactical virus among people. Besides, the Asia Pacific region is estimated to be the fastest-growing segment, accounting for high population density with rising infant count, developing healthcare infrastructure, and role of regional governments.
Respiratory Syntactical Virus Market Prominent Players
Some prominent players in the respiratory syntactical virus market include Biocartis Group, Luminex Corporation, Abbott Laboratories, AbbVie, Inc., AstraZeneca Plc., BioMérieux SA, Danaher Corporation, Gilead Sciences, Inc., Teva Pharmaceuticals Industries Ltd., GlaxoSmithKline plc., Hologic, Inc., F. Hoffmann-La Roche Ltd., Fast Track Diagnostics Luxembourg S.à r.l., Becton, Dickinson and Company, MEDIVIR AB, Merck & Co., Inc., ReViral Ltd., Thermo Fisher Scientific Inc., and Valeant Pharmaceuticals International, Inc.