Astuteanalytica
Respiratory Syncytial Virus Market Overview Market size
Respiratory Syncytial Virus, commonly known as Human Respiratory Syncytial Virus, is a contagious virus that affects the respiratory system and causes lung illness in the body. Children are most commonly infected by the virus. The Centers for Disease Control and Prevention (CDC) estimate that one to two out of every 100 children under the age of six months who have Respiratory Syncytial Virus (RSV) infection may require hospitalization. According to information from the National Institutes of Health (NIH), RSV affects more than 64 million individuals annually on a global scale.
The Global Respiratory Syncytial Virus Market revenue was around US$ 1823.3 million in 2022 and is estimated to reach US$ 4202.6 million by 2027, growing at a compound annual growth rate (CAGR) of 14.9% over the projection period from 2022 to 2027.
The market has experienced considerable growth as a result of the respiratory syncytial virus's rising prevalence, and the discovery of tailored medicines is fueling this expansion. Targeted treatments, such as monoclonal antibody-related medicines, cut the number of hospitalizations by more than half when used repeatedly. On the other hand, the cost of various therapies has increased as a result of the improved technologies used in treatment plans.
33.1 million people were infected with the respiratory syncytial virus globally in 2015, which led to 3.2 million hospitalizations and 59,600 child fatalities. According to the Centers for Disease Control and Prevention (CDC), one to two out of every hundred children under the age of six months are hospitalized due to respiratory syncytial virus.
The government has also made several actions to manage and control respiratory syncytial virus infection. These government-sponsored proactive welfare programs are generating prosperous market expansion chances. For instance, The World Health Organization launched a new project called the Battle Against Respiratory Viruses (BRAVE) campaign to lessen the burden of RSV infections. The BRaVe Initiative aims to stimulate multidisciplinary research methods to prevent and cure medically significant respiratory virus infections to quickly integrate new knowledge and methods into public health practice.
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