PUBLISHER: Acute Market Reports | PRODUCT CODE: 1234362
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1234362
Respiratory Syncytial Virus (RSV) Diagnostics Market Expected to Grow at 9.5% by 2030. Respiratory Syncytial Virus (RSV) is a single-stranded RNA virus that causes respiratory infections such as pneumonia, bronchiolitis and among others. In tropical climates, RSV infection is more prominent during the rainy season. RSV infections cause a considerable burden on the global economy due to the high infection rate. According to the Centers for Disease Control and Prevention, an approximate of 150,000 hospitalizations (on average) are a result of RSV infections each year in the United States. The high incidence of the RSV infection, and unmet need for specific, rapid, and sensitive diagnostic techniques are the prime factors accounting for the RSV diagnostics market growth.
The global RSV diagnostics market is categorized based on the diagnostic technologies, end-users, and geography. Based on the diagnostic technology types, the global market is segmented into molecular diagnostics, immunoassays, monoclonal antibodies, flow cytometry, diagnostic imaging, chromatography, gel microdroplets, and other technologies. Among these, molecular diagnostics have higher specificity and sensitivity that accounts for the higher preference. Thus, in 2021, the molecular diagnostics segment dominated the global RSV diagnostics market.
Based on end-users, the global market is dominated by hospitals segmented owing to the high patient visits with RSV infection. However, the commercial health laboratories have gained attention in last few years and expected to be one of the fastest growing segment during the forecast period.
North America dominated the global RSV diagnostics market in 2021 owing to the rising patient pool with RSV infections and technological advancements in point-of-care molecular diagnostic devices. According to the data published by the Centers for Disease Control and Prevention (CDC), around 50,000 deaths were reported in 2012 due to pneumonia in the United States. Furthermore, Asia Pacific is identified to surge at fastest rate during the forecast period. High prevalence of bronchitis and pneumonia in this region accounted for the fastest growth during the forecast period.
Key market players hold the major market share and the rest of the market is occupied by the local players. The key players adopted certain organic and inorganic strategies to penetrate into the market. For instance, Abbott received US FDA clearance and CLIA waiver for its Alere Reader Lateral Flow Assay Analyzer and Alere i RSV Rapid Molecular Test in 2016. Furthermore, after the establishment of Abbott diagnostics division in India (2016), the company acquired Alere Medical (U.S.) in 2017. Such strategies are further adopted by other key players accounting for market growth.
RSV Diagnostics Market Dynamics
Drivers
Increasing Burden of RSV Infections
Growing Demand for Point-Of-Care Molecular Diagnostic Tests for the Diagnosis of RSV Infections
Increasing Adoption of Molecular Diagnostics Over Immunoassays
Increasing Approval of RSV Diagnostic Kits and Assays
Restraint
Low Detection Limits of Immunoassays
Opportunities
Technological Advancements in Diagnostic Methods
Threats
Development of RSV Vaccines
Key Players Identified in RSV Diagnostics Market include:
Abbott Laboratories, Inc., bioMerieux SA, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., EMD Millipore, Thermo Fisher Scientific, Inc. And Others.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Respiratory Syncytial Virus (RSV) Diagnostics market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Respiratory Syncytial Virus (RSV) Diagnostics market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Diagnostic Technology
Molecular Diagnostics
Immunoassays
Monoclonal Antibodies
Flow Cytometry
Diagnostic Imaging
Chromatography
Gel Microdroplets
Other Technologies (Differential Light Scattering, Liposomes etc.)
End-users
Hospitals
Nursing Homes
Commercial Laboratories
Public Health Laboratories
Region Segment (2021-2031; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Respiratory Syncytial Virus (RSV) Diagnostics market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2031.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Respiratory Syncytial Virus (RSV) Diagnostics market?
Which is the largest regional market for Respiratory Syncytial Virus (RSV) Diagnostics market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Respiratory Syncytial Virus (RSV) Diagnostics market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Respiratory Syncytial Virus (RSV) Diagnostics market worldwide?