PUBLISHER: Grand View Research | PRODUCT CODE: 1362868
PUBLISHER: Grand View Research | PRODUCT CODE: 1362868
The global respiratory syncytial virus diagnostics market is expected to reach USD 1947.3 million by 2030, growing at an estimated CAGR of 9.7% from 2023 to 2030, according to a new study by Grand View Research, Inc.. Increasing neonatal population suffering from respiratory conditions including RSV infections and supportive initiatives for diagnosis of newborns by the healthcare providers are expected to be vital impact rendering drivers for RSV diagnostics market.
According to the statistics provided by the WHO, hospitalization of over 150,000 children (below the age of five) and about 14,000 deaths in geriatric patients occurred in the U.S. in 2014 due to RSV infections. This is anticipated to trigger demand for testing of these conditions over the forecast period.
Furthermore, the global birth rate as of 2014 is 18.7 births per 1,000 individuals, which is predicted to increase the infant population substantially over the next seven years. According to the statistics, it is estimated that about 134.2 million births took place in 2014, which are prone to RSV infections and require diagnosis, thus forming a large market base.
In 2010, Save Babies Through Screening Foundation (SBTS) entered in a partnership with World Solutions Against Infectious Disease (WSAID) as an attempt to promote higher screening of newborns for infectious diseases, metabolic disorders, and hearing disabilities.