Published July 24, 2023
The new report by Expert Market Research titled, ‘Global RSV Diagnostics Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global RSV diagnostics market, assessing the market based on its segments like product, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): 846.96 million
• Forecast CAGR (2023-2028): 10.2%
• Forecast Market Size (2027): 1,516.89 million
The rising frequency of RSV disease, particularly among children under the age of two years, is driving the global market for RSV diagnostics. The respiratory syncytial virus (RSV) is a highly infectious virus that affects the respiratory system and causes breathing issues. Increased investments in healthcare infrastructure, as well as parents' increased attention on their children's medical treatment, are all contributing to the market's rise. Furthermore, the excellent survival rates following early diagnosis, as well as the ease with which diagnostic modalities are available, function as growth-inducing factors.
The requirement for speedy, specific, and effective diagnosis is fueling the market's expansion because the symptoms of RSV are similar to those of other respiratory illnesses.
Industry Definition and Major Segments
RSV (respiratory syncytial virus) is a virus that infects the lungs and respiratory tract, causing asthma, pneumonia, middle ear infections, and even death if left untreated. Blood tests, chest x-rays, blood tests for white blood cell (WBC) and oxygen levels, and swab secretions are all used to diagnose RSV.
The market based on product can be fragmented into direct fluorescent antibody (DFA), rapid antigen diagnostic test (RADT), molecular diagnostic, chromatographic immunoassay, diagnostic imaging, gel microdroplets, flow cytometry and others. The division based on the end-use is hospitals, laboratory, clinics, and homecare.
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The market expansion is being aided by improved healthcare infrastructure and attractive reimbursement policies for the treatment of hospitalised babies. Furthermore, the development of current RSV detection technologies, such as western blot, enzyme-linked immunosorbent assay (ELISA), direct immunofluorescence, and real-time polymerase chain reaction, is aided by sophisticated techniques such as bio- and nanotechnology (PCR). Aside from that, various nations' governments are sponsoring research and development (R&D) efforts to discover novel treatments. The expanding number of clinical vaccination studies, the rising need for in-vitro diagnostics, the rising occurrences of paediatric pneumonia, and the increasing acceptance of molecular diagnostics are all expected to drive the market.
Key Market Players
The major players in the market are Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Becton, Dickinson and Company, bioMérieux SA, DiaSorin Molecular LLC, others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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