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Respiratory Syncytial Virus (RSV) Diagnostics Market

Demand for Respiratory Syncytial Virus Diagnostic Kits & Assays to Rise Rapidly, States Fact.MR

Published : 05 Aug 2021 Industry: Healthcare

Fact.MR, a market research and competitive intelligence provider, projects the global respiratory syncytial virus (RSV) diagnostics market to progress positively, surging at a CAGR of above 9% across the 2021-2031 forecast period.

Growing demand for point of care testing of respiratory syncytial virus (RSV)-infected patients and developments in the field of specific markers such as proteomics and genomic are set to accelerate market growth over the coming years.

Increase in the number of patients suffering from RSV infections has raised the overall burden of the disease, and, as such, has fuelled demand for RSV diagnostics globally. Approval of respiratory syncytial virus diagnostic assays & kits is further opening up various opportunities for market players.

North America dominates the market for respiratory syncytial virus diagnostics due to advanced technologies and innovation across the region, while the market in Asia Pacific is expected to surge at a high growth rate over the forecast period due to increasing burden of RSV infections among the population.

Key Takeaways from Market Study

  • Market for respiratory syncytial virus diagnostics to grow 2.3X in value by 2031, and reach a valuation of US$ 1.3 Bn by 2031.
  • RSV diagnostic kits & assays account for more one-third of the global market share.
  • Market for RSV diagnostics in China to top US$ 253 Mn by 2031.
  • Demand for respiratory syncytial virus diagnostics in Canada to increase at CAGR of 7.4%.
  • Market in Japan anticipated to expand at CAGR of 6% from 2021 to 2031.
  • New technological advancements in the field of diagnostics to boost market growth over next 10 years.

“Growing incidence of respiratory syncytial virus infections globally to boost demand for RSV diagnostics over coming years,” says a Fact.MR analyst.

Winning Strategy of Key Market Players

Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents. Inorganic growth activities witnessed in the market are acquisitions and partnership & collaborations.

Most companies are focussed on developing new and easy-to-use RSV diagnostic kits. Approval of technologically advanced diagnostic methods is expected to boost market growth over the coming years.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the respiratory syncytial virus diagnostics market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights on the basis of technology (molecular diagnostics, monoclonal antibodies, immunoassay, differential light scattering, artificial intelligence, liposomes, flow cytometry, chromatography, diagnostic imaging, and gel microdroplets) and end user (hospitals, nursing homes, commercial laboratories, and public health laboratories), across major regions of the world (North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Shambhu Nath Jha

Fact.MR

Sr. Consultant - Healthcare

E-mail: shambhu@factmr.com

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Rising Prevalence of RSV infection and Demand for Molecular Diagnostic Tests to Spur the Respiratory Syncytial Virus Diagnostics Market Growth