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Respiratory Distress Syndrome Market Segmented By Hospital Pharmacies, Retail Pharmacies, Drug Stores
Respiratory distress syndrome is a lung disorder of neonates caused by a deficiency of surfactants. It affects premature infants with symptoms of collapsed lungs and breathing difficulty. Other symptoms include nasal flaring, use of accessory muscles and grunting respirations. Respiratory distress syndrome is a rare disorder and it affects only a few percent’s of the population.
The risk of respiratory distress syndrome increases with prematurity of the infant and it is genetic in origin. Treatment of respiratory distress syndrome mainly includes positive end-expiratory pressure by the physical or mechanical assistance of breathing. Other treatments are supportive and symptomatic. FDA approved Exosurf Neonatal, Survanta, Surfactant TA, Human Surf and Dey Lab’s lung surfactants respectively.
Exosurf Neonatal is the first FDA approved synthetic surfactant for the treatment of infant respiratory distress syndrome. It was manufactured by Burroughs Wellcome. Abbott is the second company to get FDA approval for Survanta, which is derived from bovine tissues. Other surfactants include Curosurf Intratracheal Suspension was approved by regulatory authorities for the treatment of respiratory distress syndrome.
According to the National Organization of Rare Diseases, respiratory distress syndrome affects more than 20% of the prematurely born infants with a mortality rate of 10%. It affects both male and female population in an equal proportion. Raising prevalence of respiratory distress syndrome along with high mortality rate boosted the growth the market. Further, rapid improvements in the field of healthcare give opportunities for raising awareness about respiratory distress syndrome.
Along with these, regulatory authorities provide the drug with orphan drug status. Orphan drugs have high price elasticity and it offers manufacturers with high-profit margins than other drugs. With these, Orphan drugs also get financial assistance like tax waivers from regulatory authorities. Apart from these, non-profit organizations are promoting research & development around respiratory distress syndrome in joint scientific research between the public sector and the private sector.
In association with the non-profit organization, state governments provide special incentives to the manufacturer to develop respiratory distress syndrome drugs. Public-private partnerships are encouraging pharmaceutical companies to develop new orphan drugs for Respiratory Distress Syndrome. All of these factors act as potential drivers for the growth of the respiratory distress syndrome market.
Due to lack of awareness regarding the diseases, the growth of respiratory distress syndrome market was slightly affected.
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Global Respiratory Distress Syndrome market has witnessed a robust growth due to increasing demand for effective treatment methods. Manufacturers are majorly concentrated on the development of novel medicines to cure the respiratory distress syndrome. Presently, non-profit organizations along with legislative bodies are taking part in raising awareness in the general population.
Respiratory distress syndrome has the presence of limited manufacturers and it offers huge opportunities to innovators due to highly unmet needs. The future of respiratory distress syndrome market anticipated with double growth rate during forecasting period.
Global Respiratory Distress Syndrome market is segmented into the following regions - North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and the Middle East & Africa. North America is dominant in the global respiratory distress syndrome market mainly due to the increased mortality rate of respiratory distress syndrome. In North America, particularly the USA is dominating due to high awareness of respiratory distress syndrome.
Europe is a second leading player in global respiratory distress syndrome due to well-established healthcare systems. Along with this, both North America and Europe region legislations offer reimbursement for the treatment of respiratory distress syndrome. The Asia Pacific Is anticipated to the third most leading player in global respiratory distress syndrome due to the high prevalence of respiratory distress syndrome and prematurity birth of infants.
However, Latin America and Middle East & Africa regions account for a small share in the global market due to lack of awareness regarding respiratory distress syndrome and it is expected to increase during the forecast period.
The key participants in Respiratory Distress Syndrome Market are ONY Biotech Inc., AbbVie Inc. Dey Laboratories Inc, Chiesi Farmaceutici, S.p.A., and others. The companies are mainly focusing on collaboration and partnership to keep up the pace of the competition and to develop new products.