The global Respiratory Syncytial Virus Vaccines industry has risen to the forefront as a result of the uncontrolled spread of COVID-19. Fact The goal of MR’s new market analysis is to provide insights into the future and uncover hidden opportunities for market participants. Increasing R&D investments and activities are assisting the market’s exponential rise.
Given that the aforementioned trend shows no signs of abating, Fact.MR expects the market will grow at an annual rate of 8% between 2020 and 2030. The market is projected to gain substantial traction in the coming years as certain major international organisations increase their financing for research and development. The National Institute of Allergy and Infectious Diseases (NIAID), for example, recently announced US$ 51 million in funding.
Respiratory Syncytial Virus Vaccines Market: Key Takeaways
- By 2030, the global market for Respiratory Syncytial Virus Vaccines is estimated to reach a value of US$ 14 billion.
- The global market for Respiratory Syncytial Virus Vaccines is currently dominated by North America.
- The hegemony of inactivated/killed vaccinations will last until 2030, depending on the type.
- According to early indications, influenza demand will continue to be stronger than other segments.
- The paediatric category is projected to have the highest demand among all age groups.
- Physician offices are currently the most popular choice among end customers.
“Demand for respiratory virus vaccinations is expected to increase, especially in light of the exceptional COVID-19 outbreak. According to a Fact.MR researcher, “an increasing number of market participants are projected to engage on research activities to achieve a competitive advantage in this industry.”
Respiratory Syncytial Virus Vaccines Market Insights by Type
Inactivated/killed vaccinations, live-attenuated vaccines, and recombinant vaccines are the three types of respiratory viral vaccines available. Inactive/killed vaccinations presently account for the majority of the market. The segment is expected to stay strong, thanks to a wave of new product introductions.
Adoption of significant research programmes focused at creating COVID-19 inactivated vaccines will augur well for the category’s and overall market’s growth. In the lack of a viable therapy for COVID-19, demand for vaccines has surged.
Governments and healthcare organisations all across the world are concentrating their efforts on finding a cure and strategies to stop the pandemic. Demand for inactive/killed vaccinations is expected to increase as a result of this.
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