Respiratory Syncytial Virus Diagnostic Market Set for Rapid Growth forecast 2020-2027| Key Players - Biomérieux, Becton-Dickinson and Company, Abbott, Roche and more

Market Size – USD 12.21 Billion in 2018, Market Growth - CAGR of 7.3%, Market Trends – Increasing marketing strategies such as M&A

According to the current analysis of Reports and Data, the global Respiratory Syncytial Virus Diagnostic 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 Diagnostic 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.

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In market segmentation by manufacturers, the report covers the following companies: Biomérieux, Becton-Dickinson and Company, Abbott, Roche, Danaher, Thermo Fisher, Biocartis, Luminex, Hologic, Fast Track Diagnostics

For the purpose of this report, Reports and Data has segmented the Respiratory Syncytial Virus Diagnostic market on the basis of Diagnostic Technology, end users and region:

Diagnostic Technology
• Kits and Assays
• Instruments
• Others

Diagnostic Technology
• Immunoassay
• Molecular Diagnostic
• Monoclonal Antibodies
• Flow Cytometry
• Diagnostic Imaging
• Chromatography
• Gel Microdroplets
• Others

End Users
• Physician Office
• Hospitals
• Commercial Laboratories
• Nursing Homes

Regional Outlook
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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These factors are expected to stimulate market demand for infectious disease testing such as Respiratory Syncytial Virus Diagnostic. 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.

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.

• Various market players of the market are engaged in producing of more efficient and less time consuming diagnostics products, this is expected to generate good amount of revenue for the companies

• In November 2015, Merck KGaA completed the acquisition of Sigma-Aldrich and associated it with EMD Millipore. Clubbing should expand the diagnostic capabilities for RSV.

• 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.

• According to the US Center for Disease Control and Prevention (CDC). In the US, RSV is the common cause of bronchiolitis or pneumonia in children under one year of age. Each year, between 75,000 and 125,000 children get hospitalized due to RSV infection.

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Major highlights of the report:

An all-inclusive evaluation of the parent market
The evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of the market value and volume in the past, present and forecast years
Market share evaluation
Study of niche industrial sectors
Tactical approaches of the market leaders
Lucrative strategies to help companies strengthen their position in the market

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This release was published on openPR.