Respiratory Syncytial Virus (RSV) Diagnostics Market
Rising Prevalence of RSV infection and Demand for Molecular Diagnostic Tests to Spur the Respiratory Syncytial Virus Diagnostics Market Growth
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.
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
Know More Details About the Report
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.
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.
Avail customized purchase options for your needs
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.
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.
An Adaptive Approach to Modern-day Research Needs
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.
Have a report related query? Speak to us directly
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
Respiratory Syncytial Virus (RSV) Diagnostics Market- Scope of Report
A recent study by Fact.MR on the respiratory syncytial virus (RSV) diagnostics market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering respiratory syncytial virus diagnostics.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies providing respiratory syncytial virus diagnostics, along with their product portfolios, key strategies, and SWOT analysis, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including revenue growth, and revenue generation across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue from respiratory syncytial virus diagnostics during the forecast period.
Key Questions Answered in Report
- Which are the most lucrative markets for respiratory syncytial virus diagnostics?
- Which factors will impact the growth of respiratory syncytial virus diagnostics market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the respiratory syncytial virus diagnostics industry?
- What are the winning strategies of stakeholders in the market?
Market Size Evaluation
The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).
Market estimates at global and regional levels for RSV diagnostics are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global respiratory syncytial virus diagnostics market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on revenue for respiratory syncytial virus diagnostics have been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for key countries has also been included in the report.
The report sheds light on leading providers of respiratory syncytial virus diagnostics, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering respiratory syncytial virus diagnostics have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the RSV diagnostics market.
- 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 -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.