Respiratory Syncytial Virus Diagnostic Market Will Exhibit an Impressive Expansion by 2023-2030

The global respiratory syncytial virus diagnostic market is anticipated to grow at a significant CAGR of 6.5% during the forecast period (2023-2030). The rise in the need for point-of-care testing diagnostic tests for RSV infected people, as well as advancements in the field of specific markers such as proteomics and genomics, are expected to drive the growth of the respiratory syncytial virus (RSV) diagnostic market. According to the European Health Management Association, RSV is the most common cause of hospitalization in infants and also causes a large number of hospitalizations among the elderly.  RSV infection can lead to pneumonia, congestive heart failure and severe symptoms in those with preexisting conditions involving the lungs.

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Currently major industrialized economies are facing a triple threat in recent year through higher levels of RSV and influenza infections on top of the ongoing COVID-19 pandemic.Giving people the ability to test for all three at home will improve the ability of healthcare systems to manage these infections in a timely manner.For instance, in November 2022, Virax Biolabs announced the distribution of RSV-Influenza-COVID Triple Virus Antigen Rapid Test Kit has been launched in markets accepting the CE mark, such as the European Union. The test kits are for use in both at-home and in point-of-care settings to accurately identify infections related to respiratory syncytial virus (RSV), influenza and COVID-19 with results typically available in 15 minutes.

For the goal of improving respiratory syncytial virus diagnostics, several important tools aid in identifying the respiratory virus or coinfection that patients have so that healthcare professionals may better choose the appropriate course of therapy.For instance, in May 2023, US FDA approved Hologic's Panther Fusion SARS-CoV-2/Flu A/B/RSV assay. This assay is a molecular diagnostic test that detects and differentiates four of the most prevalent respiratory viruses that can exhibit similar clinical symptoms: severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), influenza A (flu A), influenza B (flu B), and respiratory syncytial virus (RSV). The companies concentrating on an investigational vaccine that is being developed for regulatory applications for older individuals as well as infants through maternal immunization to assist protect against RSV.For instance, in November 2022, Pfizer announces positive top-line data of phase 3 global maternal immunization trial for its bivalent respiratory syncytial virus (RSV) vaccine candidate. Infants from birth through the first 90 days of life showed an 81.8% vaccine effectiveness against severe medically attended lower respiratory tract illnesses caused by RSV.

Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered- 

o             By Product

o             By Method

o             By End-Users

Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

Competitive Landscape- includes Becton, Dickinson and Company, bioMerieux SA, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc. and others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
Who is the leader in the market?
How are players addressing challenges to sustain growth?
Where is the investment opportunity?

Global Respiratory Syncytial Virus Diagnostic Market Report Segment

By Product

Kits and Assays
Instruments

By Method 

Rapid Antigen Detection Tests
Molecular Diagnostics
Direct Fluorescent Antibody Method
Immunoassays
Others (Flow Cytometry)

By End-Users

Hospitals
Clinics
Laboratories

A full report of Respiratory Syncytial Virus Diagnostic Market available @ https://www.omrglobal.com/industry-reports/respiratory-syncytial-virus-diagnostic-market

Company Profiles

Abbott Laboratories
Beckman Coulter Inc.
BioCartis, Hologic, Inc
Bio-Rad Laboratories, Inc.
CorisBioConcept
Danaher
DiaSorin Molecular LLC.
Fast Track Diagnostics Luxembourg S.à R.L.
Luminex Corp.
Merck KGaA
NorgenBiotek Corp.
Ortho Clinical Diagnostics

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