According to the current analysis of Reports and Data, the global Respiratory Syncytial Virus Market was valued at USD 12.21 billion in 2018 and is expected to reach USD 21.48 billion by year 2026, at a CAGR of 7.3 %. The study discusses the increased adoption of the diagnosis of respiratory syncytial virus, due to the significant increase in the number of RSV infections, with the increasing demand for molecular diagnostic tests for PoC for the diagnosis of infections. Demand for Respiratory Syncytial Virus is fueled by increase in demand of minimal to completely invasive testing technique, and increasing approval of RSV kits and diagnostic tests. Unpredicted climate changes as well as polluted climate has increased the incidences of pulmonary diseases such as pneumonia, bronchiolitis etc. These factors are expected to stimulate market demand for infectious disease testing such as Respiratory Syncytial Virus. A wide range of diagnostic tests for Respiratory Syncytial Virus are available, including molecular diagnostic tests, viral culture tests, rapid tests, serological tests and rapid immunological tests. Various players are majorly focused on combining these technologies and rapid immunoassays to develop the best approach to diagnose RSV infections. It is also anticipated that the increasing incidence of pneumonia in children will stimulate the demand for RSV testing.
The most commonly used mechanism for the molecular diagnosis of RSV is the reverse transcriptase polymerase chain reaction (RT-PCR) and the multiplexed nucleic acid amplification. The RSV market is expected to grow profitably, as home health care is a cost-effective alternative while in hospital. The availability of qualified and skilled home care staff should support the growth of home care in the RSV diagnostic market. To prevent increasing number of RSV infections, organizations such as WHO, CDC, PAHO and the Healthy Newborn Network are working to educate parents about possible disorders and their diagnostic procedures. Suppliers are developing new RSV diagnostic products with greater efficiency. These launches will contribute to business income, which will boost the market. These advanced product launches will make products accessible to end-users and reduce the time needed for diagnosis. However, shortage of specific treatments and lack of awareness is expected to hinder the market growth.
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Further key findings from the report suggest
- Immunoassay type of diagnostic technology is expected to grow at the highest CAGR of 7.8% and accounted 29.3% of the global market share in 2018
- Home care end use is expected to achieve great growth in the market as the facility provide convenience and reduces the visiting fees to the hospital
- According to statistics provided by WHO, about 120 million cases of pneumonia in children are expected to be diagnosed every year among that around 10% faces severe stage of childhood pneumonia.
- According to the global population indicator, more than 88 billion births were reported in 2015, or about 250 births per minute. Of these, more than 2.8 million babies die in the first month due to infection and lack of detection of babies in such conditions.
- According to the article published in the Journal of Pediatrics, each of the three cases of lower respiratory infection is caused by RSV, which generates an incidence rate of infection of about 30.0% in the Columbia region.
- North America dominated the respiratory syncytial virus diagnosis market in 2018 accounted for 43.4% of the global respiratory syncytial virus market, due to the increasing incidence of respiratory infections and increased infant population during the prognosis period.
- The diagnostic market for Respiratory Syncytial Respiratory Virus in Asia-Pacific is expected to experience the most substantial growth over the forecast period due to the high density population and the rapid rise in the prevalence of infectious diseases. China, India, Japan and Malaysia are expected to be the most dynamic markets in the region.
Competitive Outlook of the Global Respiratory Syncytial Virus Market
The globla Respiratory Syncytial Virus market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Respiratory Syncytial Virus market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Biomérieux, Becton-Dickinson and Company, Abbott, Roche, Danaher, Thermo Fisher, Biocartis, Luminex, Hologic, Fast Track Diagnostics.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Respiratory Syncytial Virus Market Segmentation:
Product Type (Revenue, USD Million; 2018–2026)
- Kits and Assays
- Instruments
- Others
Diagnostic Technology (Revenue, USD Million; 2018–2026)
- Immunoassay
- Molecular Diagnostic
- Monoclonal antibodies
- Flow Cytometry
- Diagnostic Imaging
- Chromatography
- Gel Microdroplets
- Others
End Use (Revenue, USD Million; 2018–2026)
- Physician Offices
- Hospitals
- Commercial Laboratories
- Nursing Homes
Geographic Segment Covered in the Report:
The Respiratory Syncytial Virus report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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