The global Respiratory Syncytial Virus (RSV) Diagnostics market size is expected to be worth around US$ xx billion by 2030, according to a new report by Vision Research Reports.
The global Respiratory Syncytial Virus (RSV) Diagnostics market size was valued at US$ 781.8 million in 2020 and is anticipated to grow at a CAGR of 19.6% during forecast period 2021 to 2030.
Increasing incidence rate of respiratory infections, rising neonatal population base, increasing demand for in-vitro diagnostics, and increasing demand for point of care facilities are among the key factors driving market growth.
Increasing incidence rate of respiratory infections is driving the market and is likely to increase rapidly over the forecast period. With rising incidences of chronic conditions worldwide, cases of respiratory infections are expected to increase. This is further expected to drive the demand for infectious disease testing market such as RSV. In neonates, these infections are a leading cause of mortality, which can be avoided if timely diagnosis and treatment are available.
According to the document “Reducing Neonatal Mortality And Morbidity In Latin America And The Caribbean, An Interagency Strategic Consensus”, about 400,000 children die by the age of five, of which, 270,000 die in the first year itself. These deaths are caused due to infections that are preventable, and hence, are attracting the focus of health agencies to take due cognizance of such cases. Pan America Health Organization (PAHO) and Latin American Center for Perinatology are focusing on educating parents to initiate preventive measures for possible infections, thereby promoting a hike in RSV diagnostic rate.
Furthermore, rising incidences of childhood pneumonia are also predicted to propel the demand for RSV testing. According to statistics provided by the WHO, about 151.8 million cases of childhood pneumonia were recorded in 2001 in developing countries such as Latin America. It also estimated that about 1.9 million of these cases led to death.
The overall global newborn population base is on a rise and a similar trend is expected to be witnessed over the next seven years. According to the world population meter, over 88 billion births were reported in 2015 resulting in about 250 births per minute. Of these, over 2.8 million babies die within the first month due to infection and lack of screening of the babies for such conditions. To prevent this number from rising, efforts are being taken by organizations such as the WHO, CDC, PAHO, Healthy Newborn Network, etc., to educate parents about the possible disorders and their diagnostic procedures.
Products of the respiratory syncytial virus diagnostics market include direct fluorescent antibody (DFA) method, rapid antigen diagnostic test (RADTs), molecular diagnostics, chromatographic immunoassay, diagnostic imaging, gel microdroplets, flow cytometry, and others. Chromatographic immunoassay includes gravity-driven test and oligochromatography (OC). Molecular diagnostics accounted for the largest share in 2014 owing to high accuracy of molecular methods over other methods. This method is a gold standard for RSV diagnosis, as it is the most accurate method.
The most commonly used mechanism for molecular diagnosis of RSV is Reverse Transcriptase Polymerase Chain Reaction (RT-PCR) and multiplexed nucleic acid amplification. As of 2014-2015, numerous assays have been introduced functioning on molecular diagnostics such as Cepheid Xpert Flu/RSV XC Assay, Simplexa Flu A/B & RSV, and Verigene Respiratory Virus Nucleic Acid Test. Moreover, growth in genomics and proteomics research is expected to roll out new molecular methods for RSV diagnosis.
Rapid Antigen Diagnostic Test (RADT) is anticipated to witness lucrative growth over the forecast period owing to advantages such as quick result time, elimination of ancillary testing, early diagnostic and implementation of treatment, and improving antibiotic stewardship. This is Point-of-Care (POC) test, and hence, can be performed in the emergency department or physician’s office. Additionally, this test detects infected patients early in the course of action, which leaves a positive impact on clinical decisions.
On the basis of end-use, the respiratory syncytial virus diagnostics market is segmented into hospitals, laboratories, clinics, and homecare. Hospitals held the largest share in the market and is expected to dominate the market over the forecast period. As the occurrence of RSV infection is prominent in neonates and infants, the treatment for these demographics has to be controlled with round-the-clock monitoring, and hence, there is high hospitalization in case of RSV infection.
The homecare segment is also anticipated to witness lucrative growth, as home healthcare is a cost-effective alternative over the hospital stay. Moreover, availability of adequate trained staff for home healthcare is expected to support the growth of home healthcare in the RSV diagnostics market.
North America dominated the respiratory syncytial virus diagnostics market in 2014, owing to rising incidences of these infections and an increasing infant population over the forecast period. and chromatographic immunoassays are the popular products used within the region as they provide high accuracy, sensitivity, and specificity, leading to rapid increase in its demand. In order to produce companion diagnostics, increasing number of strategic partnerships between pharmaceutical majors and in vitro diagnostic manufacturing companies is expected to make this a lucrative segment by signaling tremendous potential.
Asia Pacific respiratory syncytial virus diagnostics market is expected to witness the highest growth over the forecast period owing to the high population density and rapidly increasing prevalence of infectious diseases. Strong demand for automated healthcare testing for accurate and faster diagnosis of the diseases is expected to boost the market growth in the region. China, India, Japan, and Malaysia are expected to be the fastest-growing markets in the region due to the developing healthcare systems and growing numbers of government initiatives. Furthermore, rising infant population is expected to propel the growth of the market.
Becton, Dickinson and Company, Novartis Diagnostics, Abbott Laboratories, Ortho Clinical Diagnostics, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Hoffmann La Roche Limited, BioMerieux, DiaSorin SPA, EMD Millipore, Quidel Corporation, Alere Inc., Coris BioConcept, Fast-track Diagnostics, and Quest Diagnostics.
Direct Fluorescent Antibody (DFA) Method
Rapid Antigen Diagnostic Test (RADTs)
Gravity Driven Test
Middle East and Africa (MEA)
The Respiratory Syncytial Virus (RSV) Diagnostics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Respiratory Syncytial Virus (RSV) Diagnostics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Respiratory Syncytial Virus (RSV) Diagnostics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Respiratory Syncytial Virus (RSV) Diagnostics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Respiratory Syncytial Virus (RSV) Diagnostics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Respiratory Syncytial Virus (RSV) Diagnostics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Respiratory Syncytial Virus (RSV) Diagnostics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Respiratory Syncytial Virus (RSV) Diagnostics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Respiratory Syncytial Virus (RSV) Diagnostics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Respiratory Syncytial Virus (RSV) Diagnostics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Respiratory Syncytial Virus (RSV) Diagnostics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Respiratory Syncytial Virus (RSV) Diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Respiratory Syncytial Virus (RSV) Diagnostics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Respiratory Syncytial Virus (RSV) Diagnostics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Respiratory Syncytial Virus (RSV) Diagnostics market. These factors have benefited the growth of the global market for Respiratory Syncytial Virus (RSV) Diagnostics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Respiratory Syncytial Virus (RSV) Diagnostics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Respiratory Syncytial Virus (RSV) Diagnostics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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