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Respiratory Syncytial Virus (RSV) Diagnostics Market 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) — Growth, Future Prospects & Competitive Analysis, 2018-2026

Market Introduction of Respiratory Syncytial Virus (RSV) Diagnostics Market

A mild Respiratory Syncytial Virus (RSV) affects young children's upper respiratory systems. RSV is frequently characterized by coughing, sore throats, wheezing, and runny noses. The primary diagnostic procedure is a physical examination by the physician. And in extreme cases, the doctor does particular tests, including molecular diagnostics for virus identification, serology tests, and quick antigen detection tests. Initial signs of respiratory syncytial viruses (RVs) include a moderate cold with symptoms such as congestion, a runny nose, coughing, sore throat, and fever. Young newborns may exhibit signs of exhaustion, irritability, and respiratory issues. Under typical circumstances, these symptoms subside after a few days.

respiratory-syncytial-virus-rsv-diagnostics-market

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What is the Market Size of Respiratory Syncytial Virus (RSV) Diagnostics in terms of value?

The market for diagnostics for the respiratory syncytial virus (RSV) is expected to grow significantly over the next few years at a CAGR of 8.70%. The market for diagnostics for the respiratory syncytial virus (RSV) was estimated to be worth USD 782.4 million in 2021 and USD 1290.64 million in 2028. The demand for Respiratory Syncytial Virus (RSV) Diagnostics is anticipated to rise significantly in the upcoming years, creating revenue potential for the major market participants of USD 508.24 million between 2022 and 2028.

Which is the key part segment in the Respiratory Syncytial Virus (RSV) Diagnostics Market?

The RSV Molecular Diagnostics segment registered the largest share of total Respiratory Syncytial Virus (RSV) Diagnostics in 2021. The direct fluorescent antibody method, rapid antigen diagnostic test (RADTs), molecular diagnostics, chromatographic immunoassay, diagnostic imaging, gel microdroplets, flow cytometry, and others are products of the respiratory syncytial virus diagnostics market. In addition, gravity-driven testing and oligochromatography are both chromatographic immunoassay (OC) parts. Due to the superior accuracy of molecular methods over other methods, molecular diagnostics made up the greatest portion of the market in 2014. Given that it is the most precise procedure, this approach is the gold standard for diagnosing RSV.

For RSV molecular diagnostics, reverse transcriptase polymerase chain reaction and multiplexed nucleic acid amplification are the most widely used techniques. The Verigene Respiratory Virus Nucleic Acid Test, Simplexa Flu A/B & RSV, and Cepheid Xpert Flu/RSV XC Assay are only a few of the assays based on molecular diagnosis that have been created as of 2014-2015. The increase of genome and proteome research is also projected to lead to the development of novel molecular methods for RSV diagnosis.

Interesting Facts about Respiratory Syncytial Virus (RSV) Diagnostics Industry

  • The top countries in the Respiratory Syncytial Virus (RSV) Diagnostics market are China, Japan, Mexico, Germany, India, and the U.S.
  • The driving factors expected to drive the growth of the respiratory syncytial virus (RSV) diagnostic market during the forecast period are the rise in demand for point-of-care diagnostic tests for RSV-infected individuals and the advancement in the field of specific markers such as proteomics and genomics.
  • The main barrier to the global market for Respiratory Syncytial Virus (RSV) Diagnostics, which is expected to prevent market expansion, is the high operational costs of RSV diagnostics compared to alternative approaches.
  • The Respiratory Syncytial Virus (RSV) Diagnostics market was dominated by North America in terms of volume and value in 2021. 
  • Hospitals are to witness the highest growth during the forecast period.

Who are the Top players/companies in the Respiratory Syncytial Virus (RSV) Diagnostics market in terms of value?

The key players in the global Respiratory Syncytial Virus (RSV) Diagnostics market in terms of value include Abbott Laboratories, Dickinson and Company, BioMérieux SA, Bio-Rad Laboratories, Becton, Coris BioConcept, F. Hoffmann-La Roche AG, DiaSorin Molecular LLC (DiaSorin Inc), Quest Diagnostics Incorporated, Quidel Corporation, Merck KgaA, and Thermo Fisher Scientific. These major businesses are concentrating on new product advances as well as technological innovation to improve the quality of their manufacturing of Respiratory Syncytial Virus (RSV) Diagnostics and win a competitive market share on a global scale. Several local and global businesses are also making big investments to broaden their product lines and increase sales.

Which are the Top 10 Countries in the Respiratory Syncytial Virus (RSV) Diagnostics Market?

In the global Respiratory Syncytial Virus (RSV) Diagnostics market, the major countries are China, Japan, Mexico, Germany, India, the U.S., Canada, the U.K., France, and Italy. During the research period, it is anticipated that the United States will control a sizeable portion of the market in North America. Untapped potential, constantly improving healthcare infrastructure, economic growth, and increasing patient awareness contribute to these regions' rapid growth. For instance, Allplex RV Master Assay acquired the European CE-IVD certification and approval from Australia's Therapeutic Goods Administration, according to a report from Seegene Inc. in April 2022. It can discriminate between two types of respiratory syncytial viruses and 21 targets for 19 different respiratory viruses.

Which is the key End-user used in the Respiratory Syncytial Virus (RSV) Diagnostics Market?

The hospital category dominated the Respiratory Syncytial Virus (RSV) Diagnostics market in 2021. The RSV Diagnostic market's primary end user in healthcare facilities. The main factors influencing the growth of this market are the rising prevalence of RSV disease in children, the rising need for RSV diagnosis in hospitals and clinics, and the rising usage of PoC molecular diagnostic equipment in hospitals and clinics for RSV diagnosis. Due to the prevalence of RSV infection in neonates and babies, treatment for these populations must be regulated with 24-hour surveillance, which leads to a high hospitalization rate in cases of RSV infection.

What are the Major Driving Factors for the Respiratory Syncytial Virus (RSV) Diagnostics Market?

The main drivers expected to fuel the growth of the respiratory syncytial virus (RSV) diagnostic market during the forecast period is the increase in demand for point-of-care diagnostic tests for people infected with RSV and the advancement in the field of specific markers like proteomics and genomics. The respiratory syncytial virus (RSV) diagnostic market is expected to develop due to the rising number of RSV infections. Additionally, it is predicted that the growing preference for molecular diagnostics over immunoassays will temper the expansion of the respiratory syncytial virus (RSV) diagnostic market. Even The development of new technologies, including multiplex viral testing, thin layer-based amperometric enzyme immunoassays (EIA), and filament-based antibody detection tests, is nearly complete. PoC devices will soon align with nucleic acid amplification methods and loop-mediated isothermal amplification. This will make it possible to conduct testing using a one-step kit that only needs the inclusion of a patient sample. Additionally, nanoparticle technology, which could increase viral detection four times over RT-PCR (the current gold standard), is being developed.

What are the Major Restraints for the Respiratory Syncytial Virus (RSV) Diagnostics Market?

The high operational costs of Respiratory Syncytial Virus (RSV) Diagnostics as compared to other techniques is the primary restraint of the worldwide Respiratory Syncytial Virus (RSV) Diagnostics market, which is anticipated to impede market expansion. The market's growth is also significantly hampered by the high capital expenditure needed to purchase the requisite equipment and the cost of Respiratory Syncytial Virus (RSV) Diagnostics. Due to the lowering immunoassay detection limits, the respiratory syncytial virus (RSV) diagnostic market is anticipated to grow steadily throughout the forecast period.

Which Region Dominated the World Respiratory Syncytial Virus (RSV) Diagnostics Market?

In 2021, North America dominated the global Respiratory Syncytial Virus (RSV) Diagnostics market and accounted for a major market revenue share. The rising incidence of respiratory syncytial virus infections in the region, expanding R&D activities, rising investments, and support for government initiatives and key market players' initiatives are the main factors propelling the growth of the North American respiratory syncytial virus (RSV) market.

During the research period, it is anticipated that the United States will control a sizeable portion of the market in North America. For instance, according to the article named Increased Interseasonal Respiratory Syncytial Virus Activity in End Users of the Southern United States," released by the Centers for Disease Control and Prevention in June 2021, RSV causes, on average, in the United States 58,000 hospitalizations, 100–500 deaths among children under the age of 5, and 177,000 hospitalizations, 14,000 deaths among adults 65 years of age or older. As a result, the prevalence of RSV infections is rising nationwide, increasing demand for diagnostics and propelling the market. Due to their excellent accuracy, sensitivity, and specificity, popular products utilized in the region include chromatographic immunoassays which have seen a sharp rise in demand. An increase in strategic alliances between pharmaceutical giants and in vitro diagnostic manufacturing companies are anticipated to boost the market for companion diagnostics, signifying enormous potential.

Segmentation of Global Respiratory Syncytial Virus (RSV) Diagnostics Market-

Global Respiratory Syncytial Virus (RSV) Diagnostics Market – By Technology

  • RSV Molecular Diagnostics
  • RSV Monoclonal Antibodies
  • Immunoassays
  • Differential Light Scattering
  • Artificial Intelligence
  • Liposomes
  • Flow Cytometry
  • Chromatography
  • Diagnostic Imaging
  • Gel Microdroplets

Global Respiratory Syncytial Virus (RSV) Diagnostics Market – By End Users

  • Hospitals
  • Nursing Homes
  • Commercial Laboratories
  • Public Health Laboratories

Global Respiratory Syncytial Virus (RSV) Diagnostics Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa and Africa

Frequently asked questions about the global Respiratory Syncytial Virus (RSV) Diagnostics market

Respiratory Syncytial Virus (RSV) Diagnostics Market also suffered from the COVID 19 pandemic, which resulted in an increase in revenue generated in 2020 as growth brought on by the region's rapidly expanding COVID-19 cases and the usage of RSV diagnostic kits to identify COVID-19.

The market for diagnostics for the respiratory syncytial virus (RSV) was dominated by North America.

The rise in the demand for point-of-care diagnostic tests for RSV-infected people and the advancement in the field of specific markers such as proteomics and genomics are the main factors that are anticipated to propel the growth of the respiratory syncytial virus (RSV) diagnostic market during the forecast period.

RSV Molecular Diagnostics had a major share in 2021.

The Hospitals had a major share in the global market in 2021.

Respiratory Syncytial Virus (RSV) Diagnostics Market Scope

Report Attribute Details
Market Value in 2021 USD 782.4 million
Market Value in 2028 USD 1290.64 million
CAGR 8.70%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Aug 2022
Category:  Medical Devices
Report ID:   59151
Report Format:   PDF
Pages:   170
Rating:    4.6 (71)
Delivery Time: 24 Hours to 48 Hours   
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