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How has the synagis market grown in recent years?

In recent times, the synagis market has experienced a XX (HCAGR) expansion. By 2024, it is projected to be worth $XX million, with an anticipated growth to $XX million in 2025, translating to a compound annual growth rate (CAGR) of XX%. The growth observed during the historical period is largely due to amplified expenditures on chronic diseases, escalated investments in research and development, growing disease loads, increased hospital admissions, and the rising incidence of chronic respiratory conditions.

How is the synagis market size expected to evolve during the forecast period?

In the upcoming years, the Synagis market is forecasted to experience an XX (FCAGR) increase. By 2029, it is projected to swell to $XX million with an annual compound growth rate (CAGR) of XX%. The surge during the predicted period can be credited to multiple factors. These include escalating research and developmental expenditures, an elevated prevalence of RSV, higher demands for personalized and telemedicine, a burgeoning aged population, and the expansion of the pediatric population in developing markets. The forecast period will also witness several significant trends, such as breakthroughs in RSV treatment, the evolution of biosimilars, outcomes of clinical trials, progress in treatment protocols, a string of regulatory approvals, and the launch of combination vaccines.

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Which key drivers are propelling the synagis market’s growth?

The burgeoning rate of chronic respiratory ailments is anticipated to boost the expansion of the synagis market in the future. Chronic respiratory disorders are enduring diseases that affect the lungs and air passages, resulting in persistent breathing difficulties. The occurrence of these chronic respiratory conditions can be linked to a variety of aspects, including an aging demographic, smoking and lifestyle habits, genetic and work-related influences, and environmental contamination. Synagis (palivizumab) serves to prevent severe respiratory syncytial virus (RSV) infections in children and infants at high risk, decreasing the risk of complications and the worsening of chronic respiratory conditions. For instance, as per a report circulated by Public Health Scotland, a government organization based in Scotland, the recorded prevalence of asthma diagnosed by doctors was 16% in 2021 and spiked to 17% in the subsequent year, 2022. Consequently, the rising prevalence of chronic respiratory conditions is fuelling the growth of the synagis market.

What are the market segments in the synagis industry?

The synagis market covered in this report is segmented –

1) By Clinical Indication: Respiratory Syncytial Virus (RSV) Prophylaxis; Premature Infants With Bronchopulmonary Dysplasia (BPD); Congenital Heart Disease (CHD); Immunocompromised Infants And Children

2) By Formulation: 50 Milligrams (mg)/0.5 Milliliters (mL); 100 Milligrams (mg)/1 Milliliters (mL)

3) By Distribution Channel: Wholesale Distributors; Online Retailers

4) By End-User: Pediatric; Adults

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Which leading companies are shaping the growth of the synagis market?

Major companies operating in the synagis market are Swedish Orphan Biovitrum AB

What key trends are currently impacting the synagis market’s development?

A significant trend in the Synagis sector involves securing drug authorization from regulatory bodies in order to offer much-needed preventive treatment for the respiratory syncytial virus. This approval process allows a new drug to be sold and used after it has been evaluated and confirmed to be safe, effective, and of high quality using clinical trial findings. To illustrate, AstraZeneca Pharma India Ltd., an established biopharmaceutical company from India, received approval from the Central Drugs Standard Control Organisation (CDSCO) in September 2023. This allowed them to start selling palivizumab, a preventive treatment for the respiratory syncytial virus (RSV). The permitted product, a injection called palivizumab 100 mg/ml, is supplied in 50 mg/0.5 ml and 100 mg/ml doses in single-use vials for intramuscular administration. It is recommended to be used in infants born at or before 35 weeks of gestation, children who need treatment for bronchopulmonary dysplasia (BPD), and those suffering from clinically significant congenital heart disease (CHD). This groundbreaking approval signifies a key milestone in enhancing RSV healthcare in India because it is the country’s first available RSV preventive treatment.

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Which geographic areas are influencing the growth of the synagis market?

North America was the largest region in the synagis market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the synagis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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