LONDON--(BUSINESS WIRE)--The global human respiratory syncytial virus drugs market is expected to grow at a CAGR of more than 4% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global human respiratory syncytial virus (RSV) drugs market for 2016-2020. By category of drugs, this market is segmented into approved drugs and off-label drugs.
One of the most important drivers for this market is the launch of novel products. A market that was dominated by mainly off-label drugs now has one important approved drug with several more in the pipeline. There are many next-generation biologics pending, which are proven to be more effective than the small molecules which are currently used. These drugs have displayed higher efficacy while displaying little or no side-effects.
Other important drivers of this market are the presence of a large patient pool and introduction of novel diagnostic tools with more accurate diagnostic capabilities. The most widely used and only approved drug in this market space is Synagis, which is a large molecule drug. It is manufactured biotechnologically using latest cutting-edge technologies, which makes it very efficient and safe. Additionally, there are several off-label drugs like albuterol and epinephrine.
Technavio’s research study segments the global human respiratory syncytial drugs market into the following regions:
- Europe
- US
- ROW
Europe: largest human RSV drugs market
“The human RSV drugs market in Europe is expected to benefit from the favorable regulatory conditions which cater to the growing cases of hospitalization due to RSV infections in the region. In Europe, RSV leads to 42%-45% of hospital admissions for lower respiratory tract infections in children of ages below two years. Currently, guidelines and policies are supportive in Europe, where the usage of RSV drugs has not been restricted to any particular class, gender, or age,” says Sapna Jha, one of the lead market research analysts at Technavio for infectious and rare diseases research.
AstraZeneca’s Synagis has a dominant position in Europe, due to its standing as the only approved drug for RSV infections. It reported revenue of USD 377 million in 2015. However, the launch of novel biologics over the forecast period is likely to lead to a decline in the sales of the approved drug. Some of the important drugs in the pipeline are ALX-0171, developed by Ablynx and another drug still in the R&D phase by ReViral.
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US: market dominated by off-label RSV drugs
“The growing incidence of RSV infections in the US is expected to drive the market growth in the country. AstraZeneca is the leading vendor in the US. Its main offering is the only approved drug in the market space- Synagis. This drug is used for the prevention of RSV in children and infants. The market generated a revenue of USD 285 million by sales of this drug alone 2015,” says Sapna.
Despite this, the market in the US is seeing a declining sale of Synagis. This is suspected to be due to the change in guidance adopted by the American Academy of Pediatrics Committee on Infectious Disease (AAPCID) which stated that the drug should be prescribed only for children and infants that are at a high risk. Additionally, the availability and usage of off-label medications, sees a higher rate of adoption in the US.
ROW: novel therapies to dominate the region
The growing incidences of RSV infections in the BRIC nations are expected to drive the market growth in the region. Research has shown that Japan has 60 per 1000 cases for RSV disease. While infants are most likely to be affected by RSV virus, the growing smoking population is expected to fuel the incidence rate of RSV infection in Asia.
The growing incidences of RSV infections in ROW have driven vendors to continuously focus on R&D activities to develop novel drugs. Currently, AbbVie has market monopoly in ROW with its key offering - Synagis. In 2015, this product generated revenue of USD 740 million. However, with the emergence of innovations from vendors in the region, there will be new novel therapies, such as oral drugs and vaccines, which are expected to take over the market over the next couple of years.
The top vendors in the global human respiratory syncytial drugs market highlighted in the report are:
- AstraZeneca
- AbbVie
- GSK
- Teva Pharmaceutical
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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