Respiratory Syncytial Virus (RSV) Diagnostic Market to face rise in demand by the end of year 2023

Respiratory syncytial virus (RSV) is a virus which causes respiratory infections such as bronchiolitis and pneumonia. Globally, the cases of RSV infections are on the rise which is fueling the demand for rapid diagnostic techniques. According to the CDC, each year, on an average, RSV leads to the hospitalization of around 1,32,000- 172,000 children below the age of five and the death of around 14,000 adults above the age of 65, in the United States alone. This rising incidence of RSV infections is the major driving force for this market. As the clinical symptoms of RSV infections are indistinguishable from other respiratory infections, there is a growing need for rapid, specific and sensitive diagnostic techniques. The current shortage of specific treatment options and the development of vaccines for RSV in the future are the major restraints for this market. Around 99% of RSV associated deaths of children below the age of five are from developing countries, which would lead to an increased demand for diagnostic methods in these countries.

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The RSV Diagnostic Market by Technology

The RSV Diagnostic Market is segmented based on technologies such as Molecular Diagnostics, Immunoassays, Monoclonal Antibodies, Differential Light Scattering, Flow Cytometry, Artificial Intelligence, Chromatography, Diagnostic Imaging, Liposomes, Gel Microdroplets, and Others. Among these segments, Molecular Diagnostics have a higher sensitivity and specificity.

The RSV Diagnostic Market by End Users:

The major consumers for diagnostic kits include Hospitals, Nursing homes, Commercial Laboratories, and Public Health Laboratories. Hospitals are the major end user for RSV Diagnostic market. In the year 2000, 402,000 emergency room visits, 2,36,000 hospital outpatient visits and 86,000 hospitalizations of children below the age of five years were a result of RSV infection

The RSV Diagnostic Market by Geographic Distribution

The RSV diagnostic market involves North America, Europe, Asia Pacific and Rest of the World. Currently, the market is dominated by North America and Europe due to the increasing cases of respiratory diseases. However, Asia-Pacific region is an emerging market, as there are increasing incidences of RSV infections and a growing healthcare awareness.

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Competitive Analysis

Some of the key players in this market are Abott Laboratories, Becton Dickinson and Company, bioMerieux, Bio-Rad Laboratories, Beckman Coulter Thermo Fisher Scientific and EMD Millipore. In 2001, Abott and IntelligentMDx (IMDX) entered into an agreement in which IMDx would develop and design real time PCR assays for the Abott m2000 instrument system. The IMDx Flu A/B and RSV test is one such test developed by IntelligentMDx (IMDX) of Cambridge, for Abbott's m2000 molecular diagnostics system. The test is a qualitative Reverse Transcription test for rapid detection of different strains of RSV as well Influenza A, and Influenza B. The test could analyze 94 samples per run and it is fully automated with minimal turnaround time.

High Level Analysis

The report gives an in depth analysis of the RSV diagnostic market. The buyers’ power in this market is high, as there are many suppliers providing diagnostic kits for RSV. The threat of new entrants in the market is low as there are highly differentiated diagnostic kits manufactured by established companies and initial capital investment required is high. The threat of substitutes is low due lack of alternative diagnostic technology for detection of RSV.

KEY BENEFITS

• In depth analysis of current technologies used in the RSV diagnostic enables strategic decision making by stakeholders
• Identification of drivers, restraints and opportunities in the market
• Market segmentation based on technology, end users and geography helps in exploring new business opportunities.
• Analysis of the key players in the market and the technologies developed by them would help in understanding strategies implemented by the competitors

KEY DELIVERABLES

The RSV diagnostic market is segmented based on technology, end users and geographic distribution.

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