Respiratory Syncytial Virus Therapeutics Market Size

Respiratory Syncytial Virus Therapeutics Market was valued at USD 5.8 billion in 2023 and is expected to exhibit growth at a CAGR of 12.8% from 2024 – 2032 period. High market growth can be attributed to ongoing advancements in treatment, rising disease burden, growing aging population, and increased focus on early childhood healthcare, among other contributing factors.

Moreover, the aging population is at increased risk of severe RSV infection and its complications. According to a recent United Nations (UN) research report, the number of people aged 65 and over globally is predicted to treble over the next three decades. The senior population is expected to reach 1.6 billion by 2050, accounting for more than 16% of the worldwide population. As the elderly population grows, there is a greater demand for therapeutics to manage RSV-related respiratory illnesses and reduce healthcare burden.

Additionally, the increasing hospitalization rates due to RSV infections drives the demand for effective therapeutics and stimulate the respiratory syncytial virus therapeutics market. For instance, according to the Centers for Disease Control and Prevention (CDC), RSV causes significant morbidity and mortality in older individuals, resulting in about 60,000-160,000 hospitalizations and 6,000-10,000 deaths per year among adults aged ≥65 years.

Respiratory syncytial virus therapeutics refers to various medical interventions and treatment modalities designed to prevent, manage, and treat infections caused by the respiratory syncytial virus. RSV is a common respiratory virus that can cause mild cold-like symptoms in healthy individuals but can lead to severe respiratory illness, particularly in infants, older adults, and individuals with weakened immune systems or underlying health conditions.