Fort Collins, Colorado, April 18, 2024 (GLOBE NEWSWIRE) --
Growing prevalence of RSV in the population drives the need for RSV vaccines.
RSV, a prevalent respiratory virus, often leads to severe respiratory tract infections, particularly among vulnerable populations such as young children, the elderly, immune-compromised individuals, and infants. These infections vary in severity, ranging from mild cold-like symptoms to severe lower respiratory tract infections like pneumonia and bronchiolitis. In newborns and young children, RSV infections can necessitate hospitalization and admission to critical care units and, in some cases, can even result in fatalities, especially among preterm infants or those with underlying medical conditions.
Moreover, RSV infections contribute significantly to hospitalizations, healthcare costs, and related challenges within the healthcare system. Recognizing RSV as a severe public health concern underscores the urgent need for effective prevention measures, such as vaccination. The development and widespread adoption of RSV vaccines are driven by the substantial disease burden associated with RSV infections, aiming to reduce the frequency, severity, and socioeconomic impact of RSV-related illnesses. RSV vaccines hold promise for improving public health outcomes, enhancing quality of life, and substantially reducing the financial strain on healthcare systems and society by addressing unmet medical needs and mitigating the adverse health outcomes associated with RSV infections.
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Segmentation Overview:
The RSV vaccine market has been segmented into vaccine type, age group, route of administration, and region.
The intramuscular route of administration dominated the segment in 2023.
- Based on the route of administration, the market is further segmented as intramuscular and intranasal. Intramuscular has experienced significant growth in 2023 and is expected to dominate the market in the forecast period due to the most common routes of vaccine administration that involve delivering the vaccine into the muscle tissue to be delivered in muscle tissue.
Sub-unit vaccine is projected to dominate the segment in the forecast period.
- Based on vaccine type, the RSV vaccine market segmentation includes attenuated vaccine, inactivated vaccine, subunit vaccine and vector-based vaccine. Sub-unit vaccine is expected to dominate the market growth in the forecast period attributed to purified components or antigens of the RSV virus, such as the F (fusion) protein or G (attachment) protein.
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RSV Vaccine Market Report Highlights:
- The RSV Vaccine market growth is anticipated at a CAGR of 5.2% by 2032.
- The advancements in vaccine technology supplement the industry's growth. Besides, unmet medical needs in the population drive the RSV vaccine industry in the forecast period.
- North America dominates the RSV vaccine market and will retain a significant share in the forthcoming years.
- Some prominent players in the RSV Vaccine market report include GlaxoSmithKline plc (GSK), Novavax, Inc., AstraZeneca plc, Pfizer Inc., Sanofi, Johnson & Johnson, Merck & Co., Inc., Bavarian Nordic A/S, Serum Institute of India, Bharat Biotech.
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