Respiratory Syncytial Virus (RSV) Diagnostics Market is Anticipated to surge at a CAGR of 9% by 2031

A recent industry analysis by Fact.MR projects that revenue from the global respiratory syncytial virus (RSV) diagnostics market will reach US$ 1.3 billion by 2031, growing at a CAGR of 9%. The demand for RSV diagnostic kits and assays is expected to remain strong, reaching a valuation of US$ 720 million by the end of 2031.

Several factors are driving the increased demand for RSV diagnostics, including the rising burden of RSV infections, growing demand for molecular diagnostic tests, and the increasing number of approvals for RSV diagnostic kits and assays.

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What is the Regional Demand Outlook for RSV Diagnostics?

The global market for RSV diagnostics is led by North America, followed by Europe, with North America expected to maintain its dominance throughout the forecast period.

However, the Asia Pacific region is anticipated to experience higher growth in the RSV diagnostics market over the assessment period. This growth is driven by the increasing burden of infectious diseases such as RSV and the strategic focus of major players on emerging Asia Pacific countries.

Country-wise Analysis

In China, the RSV diagnostics market is projected to reach a valuation of US$ 253 million by 2031. As the epicenter of the novel coronavirus disease, China is poised for significant growth in RSV diagnostics. Additionally, the rising infant population in the country contributes to this trend.

Government initiatives aimed at raising awareness about respiratory syncytial virus through various campaigns are expected to further boost market growth in China.

Category-wise Analysis

Kits and assays constitute more than 36% of the global RSV diagnostics market. The growth of this segment is driven by the increasing incidence of RSV infections among newborns, infants, and young children, as well as the rising demand for kits and assays for RSV diagnosis.

The ease of use and quick, accurate results provided by RSV diagnostic kits and assays have led to their growing demand worldwide.

Read More: https://www.factmr.com/report/respiratory-syncytial-virus-rsv-diagnostics-market

Competitive Landscape

The RSV diagnostics market is highly fragmented, with manufacturers focusing on technological innovations to accelerate the diagnosis process. The market also sees frequent mergers and acquisitions, exemplified by the acquisition of Sigma-Aldrich by Merck KGaA.

Key Players:

Abbott Laboratories
Becton
Dickinson and Company
BioMérieux SA
Bio-Rad Laboratories
Coris BioConcept
DiaSorin Molecular LLC (DiaSorin Inc)
F. Hoffmann-La Roche AG
Merck KgaA
Quest Diagnostics Incorporated
Quidel Corporation
Thermo Fisher Scientific

Key Market Segments

By Technology
RSV Molecular Diagnostics
RSV Monoclonal Antibodies
Immunoassays
Differential Light Scattering
Artificial Intelligence
Liposomes
Flow Cytometry
Chromatography
Diagnostic Imaging
Gel Microdroplets
By End Users
Hospitals
Nursing Homes
Commercial Laboratories
Public Health Laboratories

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This release was published on openPR.