Respiratory Syncytial Virus (RSV) Diagnostics Market
Respiratory Syncytial Virus (RSV) Diagnostics Market Analysis By Technology (RSV Molecular Diagnostics, Immunoassays, Differential Light Scattering, Artificial Intelligence, Liposomes, Flow Cytometry, Chromatography, Diagnostic Imaging), By End Users - Global Insights to 2031
Market Outlook for Respiratory Syncytial Virus (RSV) Diagnostics
A newly published industry analysis by Fact.MR estimates revenue from the global respiratory syncytial virus (RSV) diagnostics market to reach US$ 1.3 Bn by 2031, surging at a CAGR of 9%. Demand for RSV diagnostic kits & assays to remain high and reach a valuation of US$ 720 Mn by the end of 2031.
Amongst the many factors credited to accelerating demand for respiratory syncytial virus diagnostics is rising burden of RSV infections, growing demand for molecular diagnostic tests, and increasing approvals of RSV diagnostic kits & assays.
Interested to Procure The Data
Key Points Covered in Respiratory Syncytial Virus Diagnostics Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Demand for Respiratory Syncytial Virus Diagnostics and How to Navigate
- Recommendation on Key Winning Strategies
Respiratory Syncytial Virus Diagnostics Marketplace Analysis from 2016 to 2020 Vs Demand Outlook for 2021 to 2031
The market for respiratory syncytial virus diagnostics grew from US$ 575 Mn in 2017 to US$ 678 Mn in 2020, and is anticipated to top US$ 1.3 Bn by 2031.
Respiratory syncytial virus is a very common and contagious virus that infects the respiratory track of most children before 1-2 years of age. RSV is the most common cause of bronchiolitis and pneumonia. It also causes respiratory illness in adults, and it can occasionally cause serious infection that needs hospitalization due to breathing complications with bronchiolitis or pneumonia.
For diagnosis, doctors mostly rely on a blood or urine test to look for bacterial infection, chest X-ray for checking any signs of pneumonia, and a test of material scraped out from the patient’s nose or mouth.
Globally, cases of RSV infections are on the rise, which is fuelling demand for rapid diagnostic techniques. According to the Centre of Disease Control and Prevention (CDC), each year, on an average, RSV leads to the hospitalizations of around 1,32,000 - 1,72,000 children below the age of five, and the death of around 14,000 adults above the age of 65, in the United States alone.
As the clinical symptoms of RSV infections are indistinguishable from other respiratory infections, there is growing need for rapid, specific, and sensitive diagnostic techniques.
An Adaptive Approach to Modern-day Research Needs
How are Technological Advancements Aiding Demand Growth of RSV Diagnostics?
New technologies such as filament-based antibody detection assays, thin layer-based amperometric enzyme immunoassay (EIA), and multiplex virus testing are in the final stage of development.
Furthermore, nucleic acid amplification techniques and loop-mediated isothermal amplification will soon be aligned with point of care (POC) devices. This will allow testing to be performed using a one-step kit, which will require only the addition of a patient sample.
Also, the nanoparticle technology, which has the potential to bring about a four-fold improvement in viral detection as compared to RT-PCR, is under development.
Similarly, plasmonic detection techniques such as localized surface plasmon resonance (LSPR) spectroscopy (which uses metallic nanomaterials by exploiting physicochemical peculiarities) are under development with POC detection devices.
This is considered as a major development as methods such as LSPR spectroscopy offer rapid diagnostics and superior sensitivity & affordability as compared to techniques such as surface-enhanced Raman spectroscopy (SERS) and Polymerase Chain Reaction (PCR) coupled with electrospray ionization mass spectrometry (PCR-ESI-MS), which are not cost-effective, cumbersome to perform, and are more limited to research purposes.
Over the next few years, all the above-mentioned technologies are expected to be included in commercialized diagnostic methods. This is considered as a potential growth area for players involved in RSV diagnostics.
Why is Demand for Molecular Testing of RSV Infections on the Rise?
Demand for molecular testing of RSV infections is increasing in hospitals and reference laboratories. Moreover, a number of Clinical Laboratory Improvement Amendment (CLIA) waivers and U.S. FDA clearances are supporting the adoption of molecular diagnostic tests in physician offices and urgent care clinics.
Since RSV infections have a higher prevalence among infants and young children, adoption of molecular diagnostics is increasing as compared to immunoassays in this patient group.
Rapid immunoassays are preferred whenever a quick estimation of the infection is required in inpatient and outpatient settings as well as for community surveillance. However, for the confirmation of the infection, molecular diagnostic tests are deployed to better evaluate the entire course of infection.
Avail customized purchase options for your needs
What is the Regional Demand Outlook for RSV Diagnostics?
The global market for RSV diagnostics is dominated by North America, followed by Europe. North America will continue to dominate the landscape over the forecast period.
However, the respiratory syncytial virus diagnostics market in Asia Pacific is expected to witness higher gro wth across the assessment period. Increasing burden of infectious diseases such as RSV and focus of major players on emerging Asia Pacific countries are driving market growth in the region.
Why is China Emerging as an Epicentre for Market Players Involved in Respiratory Syncytial Virus Diagnostics?
In China, the RSV diagnostics market is expected to reach a valuation of US$ 253 Mn by 2031.
China, being the epicentre of the novel coronavirus disease, is expected to garner massive growth for RSV diagnostics. Besides, infant population is also on the rise in the country.
Strong steps by governments such as creating awareness about the respiratory syncytial virus through various initiatives are also expected to prove as a growth multiplier for the market in China.
Why Do Kits & Assays Account for the Largest Share in the Market for RSV Diagnostics?
Kits & assays account for more than 36% share of the global market for RSV diagnostics. Factors driving the growth of this segment include increasing infections of RSV in new-borns, infants, and young children, and growing demand for kits & assays for RSV diagnosis.
Due to ease of usage and quick accurate results, demand for RSV diagnostic kits & assays has been on the rise across the world.
What Has Been the Impact of COVID-19 on RSV Diagnostics?
The spread of COVID-19 has risen demand for rapid testing kits worldwide. As the novel coronavirus impacts the respiratory system, several companies are offering respiratory syncytial diagnostic test kits for testing COVID-19.
For instance, the U.S. FDA recently approved the use of Mesa Biotech’s Accula device for COVID-19, which gives results in around 30 minutes.
Use of such RSV diagnostic products for COVID-19 testing is expected to fuel the growth of the market substantially.
The respiratory syncytial virus diagnostics landscape is highly fragmented in nature. Manufacturers are focusing on technological innovations for speeding up the diagnosis of the respiratory syncytial virus.
Frequent mergers and acquisitions also take place in the market. The acquisition of Sigma Aldrich by Merck KGaA is a classic example.
Respiratory Syncytial Virus Diagnostics Market Report Scope
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
|Key Regions Covered||
Key Market Segments Covered
|Key Market Segments Covered||
Key Companies Profiled
Available upon Request
Key Market Segments Covered in Respiratory Syncytial Virus Diagnostics Industry Research
- RSV Molecular Diagnostics
- RSV Monoclonal Antibodies
- Differential Light Scattering
- Artificial Intelligence
- Flow Cytometry
- Diagnostic Imaging
- Gel Microdroplets
By End Users
- Respiratory Syncytial Virus Diagnostics at Hospitals
- Respiratory Syncytial Virus Diagnostics at Nursing Homes
- Respiratory Syncytial Virus Diagnostics at Commercial Laboratories
- Respiratory Syncytial Virus Diagnostics at Public Health Laboratories
- FAQs -
The global respiratory syncytial virus (RSV) diagnostics market is slated to reach US$ 1.3 Bn by 2031-end.
The market for RSV diagnostics is anticipated to surge at a CAGR of 9% from 2021 to 2031.
Revenue from RSV diagnostics in China is expected to top US$ 253 Mn by 2031.
Rising prevalence of chronic diseases, including respiratory disorders, in the neonatal population and growing awareness among parents are driving market growth.
Luminex, Hologic, Danaher, Thermo Fisher Scientific, Biomérieux, and Fast Track Diagnostics are the top players operating in this industry.
RSV diagnostic kits & assays are slated to dominate the global market over the next ten years.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Prostate Cancer Diagnostics Market research report Segmented By Test Type (PSA Tests, CTC Tests, Imm...
The lung cancer diagnostics market revenue to reach US$ 4 Bn by 2031, cultivating CAGR of 7%. Hospit...
Paper Diagnostics Market expects a healthy 8.1% CAGR growth during 2021-2031. Rise in COVID-19 cases...