According to the new market research report RSV Diagnostics Market is expected to reach USD 929.2 Million by 2022 from USD 574.3 Million in 2017, at a CAGR of 10.1%.
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Factors driving the growth of this market include rising burden of RSV infections, growing demand for PoC molecular diagnostic tests for the diagnosis of RSV infections, and increasing approval of RSV diagnostic kits and assays.
North America is estimated to command the largest share of the market during the forecast period.
Based on region, the Respiratory Syncytial Virus Diagnostics Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is estimated to dominate the RSV diagnostics market in 2017. This is mainly due to factors such as the increasing patient base of RSV diseases, technological advancements in PoC molecular diagnostic devices, and growing healthcare expenditures.
Based on method, the market is segmented into molecular diagnostics, rapid antigen detection tests, and other methods. The molecular diagnostics segment is estimated to register the highest growth during the forecast period.
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Based on end user, the market is segmented into hospitals & clinics and home care. The hospitals and clinics segment is estimated to grow at the highest rate during the forecast period. The increasing demand for RSV diagnostic testing in hospitals and clinics is driving the growth of this segment.
On the basis of products, the Respiratory Syncytial Virus Diagnostics Market is categorized into kits and assays, instruments, and other products. The kits and assays segment is expected to register the highest growth during the forecast period.
Key players in the RSV diagnostics market include bioMérieux (France), Becton Dickinson (US), Abbott (US), Roche (Switzerland), Danaher (US), Luminex (US), BioCartis (Belgium), Hologic (US), and Fast Track Diagnostics (Luxembourg).
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Global RSV Diagnostics Market Research Report: By Product (Kits and Assays, Others), by Method (Rapid Antigen Detection Tests, Molecular Diagnostic Tests, Others), By End-User (Hospital and Clinics, Clinical Laboratory, Others) – Global Forecast Till 2023Market HighlightsRespiratory Syncytial Virus (RSV) is a virus that can cause serious respiratory infections such as pneumonia and bronchitis.
The increasing incidence rate of respiratory infections, growing demand for in-vitro diagnostics, and growing neonatal population are major factors propelling the growth of the market.
For instance, according to the Centres for Disease Control and Prevention, in the United States, RSV on an average lead to 57,527 hospitalizations among children below five years of age.
On the other hand, some factor such as lack of availability of specific treatment options for RSV infections and the high number of other pathogens that cause similar symptoms of respiratory illness may hamper the growth of the market during the assessment period.Avail a Free Sample@ https://www.marketresearchfuture.com/sample_request/6217Regional AnalysisThe Americas is likely to dominate the global RSV diagnostics market during the forecast period.
For instance, as per the data stated by the Centres for Disease Control and Prevention, in the United States, RSV leads to an estimated 2.1 million outpatient visits among children below five years of age every year.
Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions.
In addition, it is on track to surge at a CAGR of 10.4 % during the forecast period (2018–2023).RSV Diagnostics Market Drivers and Top RestraintsThe document named “Reducing Neonatal Mortality and Morbidity in Latin America And the Caribbean, An Interagency Strategic Consensus” states that almost 400,000 children under the age of five die due to infections that could have been prevented.
This has attracted the focus of various health agencies that are striving to get a hold of the issue.
For instance, Latin American Center for Perinatology and Pan America Health Organization (PAHO) have diverted their focus in the direction of educating the parents to fight against possible infections, promoting the growth of the RSV diagnostics market in the process.The rising incidence rate of respiratory infections has done wonders for the market and is bound to surge at a significant rate in the coming years.
These sophisticated diagnostic products are known to be highly efficient and reduce the time needed for the diagnosis.The Rising Number of OEMs to be the Key Trend in the Global MarketThe growth in the number of original equipment manufacturers (OEMs) is on its way to become a popular trend in the worldwide RSV diagnostics market in the near future.
OEMs like Thermo Fisher Scientific and Sekisui Diagnostics are one of the leading manufacturers that offer RSV diagnostics.There has been a rise in the number of combination products like drug delivery and smart devices, which is prompting the OEMs to work in conjunction with the contract manufacturing organizations (CMOs), making way for a number of new companies to gain entry into the market.
The other type of rapid antigen detection tests can be segmented into chromatographic immunoassays and optical immunoassays.The end-users mentioned in the report include hospitals and clinics, clinical laboratories, home care, and others.RSV Diagnostics Market Regional OutlookThe global RSV diagnostics market is segmented into the regional markets of the Americas, Asia Pacific, Europe, as well as the Middle East & Africa.The Americas will be the most lucrative market for RSV diagnostics on account of the rising incidences of RSV, growing healthcare expenditure and technological advancements in molecular diagnostics.
