Viral infections disturb either the upper or the lower respiratory tract. These infections can be classified by their causative virus; however, they are clinically classified according to symptoms such as the common cold, croup, and bronchiolitis. Severity of the respiratory virus infection differs broadly. This infection can infect people at any ages; however, the severity is low in adults. The geriatric population and infants with weak immune system are susceptible to severe respiratory virus infections. Increasing number of patient cases and the rise in the birth rate is anticipated to drive the growth of respiratory virus infection drug market. As per the statistics published by United Nations, Department of Economic and Social Affairs, the global population is projected to reach 8.5 billion by 2030. The surge in the baby boomer population is likely to increase the patient pool of the respiratory virus infection; thereby, increasing the demand for respiratory virus infection drugs over the forecast period. Limited efficacy of the drugs available in the market and the lack of proper in-vitro facilities for conducting research studies for novel treatment alternatives could hamper the growth of the market.
Based on the type of causative virus, the global respiratory virus infection drugs market has been broadly segmented into
- Respiratory syncytial viruses (RSV) infectious
- Influenza viruses infectious
- Parainfluenza viruses infectious
- Adenoviruses infectious
- Rhinoviruses infectious
In terms of distribution channel, the market has been broadly categorized into
- Hospital pharmacies
- Drug stores
- Retail pharmacies
The most common type of respiratory virus infection is RSV, while parainfluenza, adenoviruses, adenoviruses, and rhinoviruses fall into the less common forms. Respiratory syncytial virus infectious segment accounts for a major share of the respiratory virus infection drugs market. As per the statistics published by the World Health Organization, nearly 64 million people are infected and nearly 160,000 deaths caused due to respiratory syncytial virus, annually. The global market for respiratory syncytial virus infection is projected to witness significant growth due to the rise in incidence rate of this infection and birth rate.
Emphasis on establishing hospitals as primary care providers, hospital pharmacies segment is expected to be the most lucrative distribution channel. Numerous state-of-art hospital chains worldwide, owing to the rising government investments, and improving accessibility to medicines at reasonable prices are some factors that can help hospital pharmacy segment to retain its strong market position during the forecast period.
Geographically, the global respiratory virus infection drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the statistics published by the U.S., Department of Health & Human Services, approximately 50% of the children infected with RSV were under two-years of the age, globally. North America and Europe are expected to hold the largest share of market due to high awareness and easily available diagnostic tests. Asia Pacific is expected to be the fastest growing market over the forecast period. Lack of appropriate population-based studies in developing countries could challenge the assessment of respiratory-related virus infections.
Key players operating in the global respiratory virus infection drugs market include AstraZeneca, AbbVie, Ablynx NV, ADMA Biologics, Alnylam Pharmaceuticals, Ark Biosciences, ImmunoVaccine Technologies, Aviragen Therapeutics, Boehringer Ingelheim, Bavarian Nordic, Gilead Sciences, Johnson & Johnson, Kyowa Hakko Kirin, Mymetics Corporation, GlaxoSmithKline plc., Teva Pharmaceutical, and Vaxart.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.