Global RSV Diagnostics Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 9.8% through 2020 to 2026, reaching nearly US$ 1.3 Bn.

The global RSV Diagnostics market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global RSV Diagnostics market report also provides trends by market segments, technology, and investment with a competitive landscape.

Global RSV Diagnostics Market

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Global RSV Diagnostics Market Overview

Prevalence of technology and high rate of respiratory illness changed RSV diagnostics market. Respiratory Syncytial Virus (RSV), a virus that causes infection to the lower respiratory tract. This virus is a significant cause of chronic respiratory illness in babies who are prematurely born & are weak in immunity, and in children belonging to the age group of 0 to 5. Symptoms of this virus include a mild cold-illness to bronchiolitis and pneumonia. According to the data of the World Health Organization (WHO), pneumonia accounted for more than 15 % of children's deaths who are below five years of age. Often people around the world suffering from RSV infection recover without visiting any healthcare professional and undergoing any specific treatment or a practitioner to get tested.

Besides this, symptoms can be much more serious and chronic in the geriatric population, young children, and in people with low immune systems which includes kids as well. And is a common cause of bacterial pneumonia in infants. Treatment for RSV is supportive that includes the use of humidified 02 and intravenous fluids for treating infants.

Global RSV Diagnostics Market Dynamics

The prevalence of high RSV infections among the geriatric population and infants combined with the increased rate of approval of diagnostic kits and assays by medical authorities impacted positively on the growth of the market. The growth of the market is also attributed to the presence of key market players such as bio- Rad laboratories, Abbott, and many others and their continuous focus on the development and introduction of new drugs and kits for the treatment of RSV. Doctors recommend testing of RSV when lungs sound abnormal upon hearing through a stethoscope. Test based on PCR molecular diagnostics poses the ability to screen multiple respiratory pathogens at once. Continuous development in the treatment method of RSV further boosted the market growth.

Moreover, an increase in the adoption of molecular diagnostics and technological advancement in various diagnostic methods pushed the growth curve of the market upwards. Innovation in the detection of plasmonic techniques such as localized surface Plasmon resonance spectroscopy that uses metal-like Nano-materials by exploiting physiochemical properties offer more superiority and affordability compared to other techniques such as surface-enhanced Raman spectroscopy. Furthermore, other modernized techniques such as filament-based antibody detection in which testing can be done by using a one-step kit has further grown the market. However, certain factors such as the low detection limit of immunoassays combined with the growing rate of availability of RSV vaccines and drugs are restraining the market growth.

Global RSV Diagnostics Market Segment Analysis

By Method, the segment of molecular diagnostics dominated the RSV diagnostics market because of its high accuracy of detecting droplets. The various assays are being introduced for molecular diagnostic like, Flu/RSV XCassay, simplex Flu A/B, and Cepheid Xpert which impacted positively on the market growth. Molecular diagnostics detect the presence of genetic proteins or materials associated with the infection or health condition and facilitating practitioners for practicing personal medicine. Whereas, the segment of the Rapid Antigen Detection test is anticipated to be the fast-growing segment among others due to its advantages such as quick results, eliminating ancillary tastings, early diagnostic of the virus, and subsequently early treatment which has enhanced further market growth.

Based on the end-user, the market is categorized into hospitals & clinics and laboratories & homecare. The segment of hospitals and clinics dominated the market because of an increased number of patients preferring visits to the hospital and clinic for the detection of RSV virus and infections. Moreover, increased adoption of point of care (POC) molecular diagnostic devices in hospitals & clinics in developing nations, growing demand for RSV detection among infants and the geriatric population has driven the segment's market growth. Whilst, the homecare segment is expected to grow fastest rate during the forecast period due to cost-effective treatment compared to the hospital stay and availability of adequately trained home healthcare professionals.

By product type, Kit and assays dominated the market it is because of a growing number of patient base suffering from RSV infection and increasing demand for kits and assays by RSV diagnostic centers. These assay kits are used for scientific research, the discovery of drugs and development, and for a broad range of applications.

Global RSV Diagnostics Market Regional Insights:

North America dominated the RSV diagnostics market due to the rising number of patients suffering from this infection combined with the increased population during the forecast period. Molecular diagnostic and chromatography immunoassays are the most popular method used within the region because of their accuracy in providing results lead to towards its increased demand. Moreover, technological advancement in the diagnostic field, the presence of key market players of the pharmaceutical and diagnostic manufacturing sector in the region that are commencing strategic partnerships reshaped the market growth of the region. With the USA and Canada leading the region's market.

The region of Asia Pacific is anticipated to witness the highest market growth during the forecast period because of the region's high and dense population and increasing prevalence of chronic disease. The demand for technologically advanced and updated diagnostic and testing for quick and accurate diagnosis of the infection boosted the market growth in the region. Increased investments in the health care systems in the developing and developed economies such as India, china, japan, and Malaysia combined with an increased number of infants in the region further sparked the market growth of the region.

Additionally, increased expenditure in the healthcare sector by the developing economies in the Middle East and African nations such as Saudi Arabia, AE, Qatar, and in South American economies such as Brazil, Argentina, and chili are attributing towards the growth of the market. Increased consumer awareness and shift of key market players in the region to tap undiscovered opportunities are some of the additional market growth factors of the region.

Global RSV Diagnostics Market 1

The objective of the report is to present a comprehensive analysis of the Global RSV Diagnostics market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global RSV Diagnostics Market dynamics, structure by analyzing the market segments and project the Global RSV Diagnostics Market size. Clear representation of competitive analysis of key players by Product Type, price, financial position, Product Type portfolio, growth strategies, and regional presence in the Global RSV Diagnostics Market make the report investor’s guide.

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Global RSV Diagnostics Market 2

Global RSV Diagnostics Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Global RSV Diagnostics Market Key Players

• Abbott Laboratories
• Dickinson and Company
• Thermo Fisher Scientific Inc.
• Hoffmann La Roche Limited
• Novartis AG
• Ortho Clinical Diagnostics
• Bio-Rad Laboratories Inc.
• Quidel Corporation
• BioMerieux
• DiaSorin SPA
• Danaher Corporation
• Fast Track Diagnostics
• Alere, Inc.
• Quest Diagnostics
• Biocartis

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