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Respiratory Syncytial Virus (RSV) Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Prophylaxis and Treatment), By End-user (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI104668

 

KEY MARKET INSIGHTS

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The global respiratory syncytial virus (RSV) therapeutics market size stood at USD 1,111.3 million in 2019. The global impact of COVID-19 has been unprecedented and staggering, with RSV drugs experiencing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global RSV therapeutics market will exhibit a huge decline of -48% in 2020. The market is projected to grow from USD 609.2 million in 2020 to USD 4,003.4 million in 2027 at a CAGR of 30.9% in the 2020-2027 period. The sudden rise in the CAGR of this market is attributable to the potential launch of new products by 2023.


The respiratory syncytial virus is one of the major causative organisms for Lower Respiratory Tract Infection (LRTI) among infants. It is estimated that there are around 33 million RSV infections in children below the age of 5 years, which leads to around 3.3 million hospitalizations and 60,000 deaths globally every year. Combined with this, there is a huge unmet need for RSV drugs and vaccines in the market. Currently, there are only two approved drugs for the prevention and treatment of RSV infection. The rising prevalence of the RSV infection, combined with the potential launch of new therapies, is estimated to augment RSV therapeutics market growth in the coming years.


Clinical Trials and R&D Activities to Get Affected due to COVID-19 Pandemic  


The sudden emergence of the pandemic has disrupted the pharma companies regarding the day-to-day activities and shifted the focus on minimizing the effects caused. In July 2020, the representatives of Sanofi remarked that the outbreak of COVID-19 had disrupted the clinical trials for the study of nirsevimab. The challenges include patient recruitment and patient retention during the trials. The company also stated that the COVID-19 outbreak could also impact the RSV infection season, making it difficult to evaluate the drug's efficacy during clinical trials.


LATEST TRENDS


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Persistent Focus on Reducing RSV Infection Treatment Cost to Become a Vital Trend


Investing in the development of a novel mechanism to enhance efficacy and reduce the drug's cost is one of the key trends exhibited by the market players. Nirsevimab, which is slated to launch in 2023, is estimated to be priced at USD 600 compared to a whopping USD 6,000 price tag of palivizumab. A collaborative approach towards discovering the treatment and preventative therapeutics for RSV infection is among the predominant trends experienced in the market.  In addition, key players are focusing on partnerships to increase their chances for discovery of the treatment and capture the unmet demand from the infected population.


DRIVING FACTORS


Strategic Acquisitions and Collaborations among Industry Players to Spur Market Opportunities


Collaborative efforts of key players aim at launching a cost-effective and efficacious molecule to treat the RSV disease. The aforementioned factor is anticipated to positively impact the market value during the forecast duration. Additionally, the healthcare landscape has significantly changed owing to the collaborative approach between the non-traditional and the existing traditional players to innovate more efficient and cost-effective treatment for RSV.


For instance, in January 2019, Swedish Orphan Biovitrum Ab (Sobi) acquired distribution rights of Synagis, an RSV prophylactic drug from AstraZeneca, for a whopping USD 1.5 billion. As per the terms and conditions of the agreement, Sobi also gained 50% rights to the future revenues generated by MEDI8896, a drug currently under clinical trials and sponsored by AstraZeneca.


Strong Pipeline of Products Showing Promising Results to Propel Unmet Demand


The use of monoclonal antibodies in infants to cause passive immunization is one of the key approaches being pursued by the pharmaceutical companies in their fight against RSV. The pipeline products offer significant benefits over Synagis and the other approach of vaccinating pregnant mothers to provide passive immunization to infants. Factors, such as novel mechanisms, lower cost, and protection for the entire season through one injection and immediate protection against the disease are estimated to augment market growth.


For instance, Nirsevimab, which is being developed jointly by Sanofi and AstraZeneca, is proving to be the most promising candidate among these pipeline products.  Phase 2 results showed around 70% reduction in medically attended RSV-associated LRTI and around 78% reduction in RSV-associated LRTI related hospitalizations. Hence, the focus of companies to develop new drugs to treat and prevent RSV infection is driving the market growth.


RESTRAINING FACTORS


Failure of Pipeline Products in Clinical Trials to Hamper Growth


Pharmaceutical companies have faced significant challenges in the development of drugs for the treatment of RSV, which is evident from the approval of only one product, i.e. Synagis, in the past two decades. A large number of monoclonal antibody and vaccine candidates have failed to meet the required efficacy and suffered severe setbacks in the late stage of development. Last stage clinical failure of such drugs has negatively impacted the growth of the RSV therapeutics market.


For instance, In July 2019, Ablynx terminated a Phase 2 clinical trial of its investigational drug named ALX-0171 that was indicated to treat RSV infection in infants younger than two years. The manufacturer decided to discontinue the trials due to a lack of evidence supporting the efficacy of the drug in treating the disease.


SEGMENTATION


By Drug Class Analysis


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Prophylaxis Segment Held the Highest Market Share in 2019


Based on drug type, the market is categorized into prophylaxis and treatment. The prophylaxis segment dominated the market in 2019. Potential approvals and the launch of maternal vaccines by Pfizer and GSK are estimated to propel the segment growth in the foreseen years.


The treatment segment holds a smaller share in the global RSV therapeutics market. An increase in research and development to develop drugs indicated to treat RSV infection is estimated to propel the global market during the forecast duration.


By End-user Analysis


Hospital Pharmacy Segment Ruled the Market in 2019


Based on end-user, the market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. Among the end-users, the hospital pharmacy segment dominated the global market. The growth of the segment is influenced by the factor that the existing treatment and prevention options require administration of the molecule by a healthcare professional. Hence, the segment is also estimated to have the highest CAGR in the coming years.


REGIONAL INSIGHTS


North America Respiratory Syncytial Virus Therapeutics Market Size, 2016-2027 (USD Million)

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The North America respiratory syncytial virus therapeutics market stood at USD 396.0 million in 2019 and will tremendously grow throughout the forecast period. The growth is attributable to the higher prevalence of RSV infection as well as larger access for the treatment of the disease. According to the Center for Disease Control and Prevention (CDC), RSV infection leads to almost 2.1 million outpatient visits among children younger than five years of age annually in the U.S. alone.


The growth of the market in Europe is attributable to various factors such as developed healthcare infrastructure, an active government initiative to track RSV seasons, and a well-established reimbursement system for hospitals, among others. In addition, Public Health England is actively updating the burden of RSV infection in the country and linking it to economic burden, statistical modeling, and calculating the cost-effectiveness of vaccinations. Such studies will encourage the market growth in the region.


On the other hand, the Asia Pacific market is anticipated to showcase considerable growth during the forecast duration. The region includes countries with diverse economic and financial statuses with varying trends in the RSV market. Countries including Japan and Australia have advanced healthcare infrastructure combined with higher penetration of treatment for RSV. The varying ethnicity and climate create a difference in the prevalence of RSV in various countries of Asia Pacific.


Considerable growth in the RSV therapeutics market is anticipated during the forecast years in the countries of Latin America and the Middle East and Africa, enabling significant expansion opportunities for the market players. Even though the governments in these regions are emphasizing increasing healthcare accessibility, there is significant room for growth.


KEY INDUSTRY PLAYERS


Key Companies Focus on Launching Cost-effective Treatment Options


The global market is highly consolidated with two major players accounting for more than 90% of the market share. AbbVie Inc. dominates the market with the largest share followed by Swedish Orphan Biovitrum AB (Sobi). However, the competitive landscape of the RSV therapeutics market is estimated to shift due to the potential launch of prophylaxis and treatment drugs in the coming years tremendously. AstraZeneca aims to capture the predominant share in the coming years by introducing cost-effective nirsevimab into the market by 2023.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • October 2020: Merck & Co., Inc. announced that the company had returned the rights to manufacture RSV vaccine (mRNA-1172) back to its innovator Moderna. The product has progressed to Phase 1 clinical trial in 2019. Merck & Co. is now focusing on manufacturing RSV antibodies to treat the infection caused by the virus.

  • February 2019: Sanofi announced to receive a breakthrough designation for Nirsevimab from the U.S FDA. The designation was achieved after the positive preliminary analysis in Phase 2b clinical trials.

  • August 2020: Janssen Pharmaceutical Companies, a division of Johnson and Johnson Service, Inc. announced that it received the breakthrough designation for its RSV prophylactic vaccine by the US FDA.


REPORT COVERAGE


An Infographic Representation of Respiratory Syncytial Virus (RSV) Therapeutics Market

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The respiratory syncytial virus therapeutics market report provides qualitative and quantitative insights on the RSV therapeutics industry and a detailed analysis of market size and growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of RSV infections by key regions, key industry trends, pipeline analysis, and analysis of COVID-19 on the global market, the number of patients prescribed, and palivizumab among others.


Report Scope & Segmentation








































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD million)



Segmentation



By Drug Class



  • Prophylaxis

    • Palivizumab

    • Nirsevimab

    • MK-1654

    • Other Prophylaxis



  • Treatment

    • Ribavirin

    • JNJ 53718678

    • Enanta EDP-938

    • ASCENIV





By End User



  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



Frequently Asked Questions

Fortune Business Insights says that the global Respiratory Syncytial Virus (RSV) therapeutics market size was USD 1,111.3 million in 2019 and is projected to reach USD 4,003.4 million by 2027.

In 2019, the North American market stood at USD 396.0 million.

The market will exhibit a stunning growth of 30.9% during the forecast period (2020-2027).

The prophylaxis drug type segment dominated the global market in 2019.

Potential product launches are projected to drive the growth of the market.

AbbVie Inc. and Sobi are the major players in the global market.

North America dominated the market in terms of share in 2019.

The increased unmet need for RSV prevention and treatment is expected to drive the adoption of RSV therapeutics.

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Respiratory Syncytial Virus (RSV) Therapeutics Market Size, Share and Global Industry Trend Forecast till 2026
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