The global pediatric respiratory syncytial virus infection market is valued at US$ 2,041 million as of 2022. The market is expected to grow at a CAGR of 15.2% during the period 2022-2032, and is projected to be valued at US$ 8,401.71 million by 2032.
| Attributes | Value |
|---|---|
| Pediatric Respiratory Syncytial Virus Infection Market Value (2022) | US$ 2,041 million |
| Pediatric Respiratory Syncytial Virus Infection Market Forecast Value (2032) | US$ 8,401.71 million |
| Pediatric Respiratory Syncytial Virus Infection Market Expected CAGR (2022 to 2032) | 15.2% |
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Doctors have pointed out that RSV infection has a very high incidence rate. According to Centers for Disease Control and Prevention (CDC) almost every child below the age of 2 years gets infected because of RSV. This is expected to surge the demand for pediatric respiratory syncytial virus infection.
Furthermore, the recovery period for the RSV infection is around 1 to 2 weeks among infants. Even during this period, the virus remains inside the body and is communicable as well. This might as well indicate a positive effect on pediatric respiratory syncytial virus infection adoption trends.
Furthermore, there are numerous children who suffer because of pneumonia and bronchitis. The health experts are of the view that pneumonia and bronchitis are one of the most common respiratory syncytial virus symptoms. Based on the statistics, among the infants and children, nearly 25 out of 40 children who suffer from RSV exhibit signs of pneumonia and bronchitis.
Additionally, the healthcare experts are also developing new antiviral therapies. Based on recent studies, new long-acting monoclonal antibodies for RSV have demonstrated promising results. For example, Novovax’s RSV F Vaccine is in phase 3 trials. This is expected to influence market for pediatric respiratory syncytial virus infection
However, the cost associated with the management of respiratory syncytial virus treatment is quite high, and this might challenge the market growth. Further, the absence of a definitive treatment is also expected to hamper the market growth. Furthermore, the side effects associated with treatment, coupled with the limited efficacy of the drug in certain cases is expected to have a negative impact on the market.
By distribution channel
The hospital pharmacies currently have the highest market share, and during the forecast period as well, these are expected to hold the largest market share. Owing to their easy accessibility, the hospital pharmacies are the most preferred. However, the retail pharmacies are expected to be the fastest growing segment owing to their rapid growth due to the availability of E-commerce sites.
By region
Currently, the North American region holds the largest market share of close to 40%, followed by Europe region. Increasing incidence of RSV amongst the infants and a growing infant population are the main factors leading to the market growth in North America. Apart from that, the government in the region is also conducting awareness drives and investing huge amounts in schemes pertaining to child health.
Respiratory syncytial virus (RSV) is a common virus that causes respiratory infection. The virus infects lungs and respiratory passage. RSV infection is common among adults who experience symptoms like mild cold however in infants and older people the infection can be very serious.
RSV is the most common cause of bronchiolitis and pneumonia among infants. RSV infection is limited to the respiratory tract. The virus inoculates in the lower respiratory tract and spreads into the respiratory system through cell to cell transfer in syncytia.
RSV infection has very high incidence rate. According to the Centers for Disease Control and Prevention (CDC), almost all children get RSV infection by the age of 2 years. Moreover the Respiratory syncytial virus spreads very quickly through cough, sneeze and touching the infected surfaces which delivers the virus into the host body.
The recovery period for RSV infection is around 1 to 2 weeks among infants, the virus still remains in the body and can spread easily to another person. Owing to high incidence rate, the market for pediatric syncytial virus infection is expected to witness robust growth over the forecast period.
Principal Consultant
Growing incidence of RSV among children is expected to increase demand for RSV infection treatment products. Rise in the birth rate is expected to propel demand for RSV treatment products over the forecast period. According to the United Nations, Department of Economic and Social Affairs, the global population is expected to reach 8.5 billion by 2030.
This increase in the baby boomer population is expected to add to the patient pool of the RSP virus and thus in turn increase demand for RSV infection treatment over the forecast period. RSV infection can occur at any age however the infection rate among children varies as compared to adults.
Among infants and children, nearly 25 out of every 40 children suffering from RSV infection, exhibit signs of bronchiolitis or pneumonia. Owing to severity of the infection the awareness among public regarding the RSV infection is growing which in turn is expected to boost demand for respiratory syncytial virus infection treatment.
Increase in the risk of acquiring RSV among children is associated with the community settings like attending school, exposure to environmental pollutants etc. with changing social dynamic structure the incidence rate of RSV infection is expected to grow rapidly over the forecast period. However absence of definitive treatment, side effects and limited efficacy of the drugs available in the market and dependency in symptom based treatment in several cases is expected to hamper revenue growth of the pediatric respiratory syncytial virus infection market over the forecast period.
The global market for pediatric respiratory syncytial virus infection is expected to witness robust growth owing to increasing incidence rate of the RSV infection and growth in the birth rate.
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Globally the pediatric respiratory syncytial virus infection market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Globally RSV is responsible for nearly 18% of the total child deaths.
North America and Western Europe are expected to be the leading markets in the global pediatric respiratory syncytial virus infection market. High awareness and easy available diagnostic tests are expected to boost demand for RSV infection treatment products in these regions.
Japan and APEJ are expected to follow next in terms of demand for the treatment of pediatric respiratory syncytial virus infection market. Eastern Europe, Latin America and MEA markets are also expected to witness above average growth over the forecast period. Absence of population based studies in developing countries is a major challenge in assessment of RSV related infections in these countries.
Some players in the global pediatric syncytial virus infection market are Ablynx NV, Aridis Pharmaceuticals, Inc., Artificial Cell Technologies, Inc. is conducting studies for development of vaccine against RSV. The company’s vaccines is into pre – clinical development and preparing for IND filing to conduct phase 1 trials.
Astellas Pharma Inc. entered into strategic partnership with ClearPath Development company for building a vaccine portfolio for Respiratory Syncytial Virus, AstraZeneca is conducting observational studies of Respiratory Syncytial Virus Hospitalizations among U.S. infants. Bavarian Nordic., a biotechnology company is building a antibody based treatment against RSV, which is currently into phase 2 clinical trials.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and technology.
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By Therapy
By Distribution Channel
The market is likely to register a CAGR of 15.2% through 2032.
The market is currently valued at US$ 2041 Mn in 2022.
The market is likely to grow to a valuation of US$ 8401.71 Mn by 2032.
North America is likely to be a leading market during the forecast period.
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Pediatric Respiratory Syncytial Virus Infection Market
