RSV Diagnostics Market Outlook, Share, Size, Demand, Opportunities, Sale Area, Revenue Analysis Forecast 2030
RSV Diagnostics Market Overview
The
latest report by Market Research Future (MRFR) states that the Respiratory
Syncytial Virus (RSV) market is all set to gain substantial traction by
accruing gigantic revenues by 2030. In addition, it is on track to surge at a
CAGR of 10.7 % during the forecast period (2022–2030). The document named
“Reducing Neonatal Mortality and Morbidity in Latin America And the Caribbean,
An Interagency Strategic Consensus” states that almost 400,000 children under
the age of five die due to infections that could have been prevented. This has
attracted the focus of various health agencies that are striving to get a hold
of the issue. For instance, Latin American Center for Perinatology and Pan
America Health Organization (PAHO) have diverted their focus in the direction
of educating the parents to fight against possible infections, promoting the
growth of the RSV diagnostics market Insights in the process.
The
rising incidence rate of respiratory infections has done wonders for the market
and is bound to surge at a significant rate in the coming years. with the
growth in the incidences of chronic diseases around the world, there is bound
to be an increase in the case of respiratory infections. This is going to have
a definite positive impact on the demand for testing of infectious diseases
like RSV. The deaths among neonates owing to these infections can be prevented
when timely diagnosis and subsequent treatment is provided. Thus, the growing
awareness regarding this factor is set to enhance the growth of the RSV
Diagnostics Market in the years ahead.
The
boost in the number of product launches across the globe will be one of the
primary reasons fueling the growth of the respiratory syncytial virus
diagnostics market in the forthcoming years. On that note, various diagnostics
companies are keen on expanding their revenue with the development and
introduction of the latest RSV diagnostics products in the market. These
sophisticated diagnostic products are known to be highly efficient and reduce
the time needed for the diagnosis.
RSV Diagnostics Market Segmentation
The
global RSV diagnostics market Outlook has been segmented based
on product, method, and end-user.
Depending
on the type of product, the market has been classified into kits and assays,
instruments, and other products.
Method-wise,
the global RSV diagnostics market has been considered for molecular
diagnostics, rapid antigen detection test, gel microdroplets, flow cytometry, and others.
Furthermore, the rapid antigen detection tests are sub-segmented into
enzyme-linked immunosorbent assays, immunofluorescence assays, and other rapid
antigen detection tests. The other type of rapid antigen detection tests can be
segmented into chromatographic immunoassays and optical immunoassays.
The
end-users mentioned in the report include hospitals and clinics, clinical
laboratories, home care, and others.
RSV Diagnostics Market Regional Analysis
The
global RSV diagnostics market is segmented into the regional markets of the
Americas, Asia Pacific, Europe, as well as the Middle East & Africa.
The
Americas will be the most lucrative market for RSV diagnostics on account of
the rising incidences of RSV, growing healthcare expenditure and technological
advancements in molecular diagnostics. As per the Centers for Disease Control
and Prevention, over 57,000 children younger than five years old are
hospitalized owing to RSV infection every year, in the United States (U.S). In
order to bring down this abysmal number, various initiatives and programs are
being introduced in the region, which means that the market will be doing
excellent business in the region in the years to come.
Meanwhile,
Europe has landed the second spot in the l market, with factors like increasing
automation in vitro diagnostics, rising occurrence of RSV diseases, and surging
funding offered by the government backing the said growth. Considering the
current status of the region, the data furnished by the University of Oxford
states that more than 30,000 babies and children less than five years of age
are expected to be hospitalized every year owing to RSV.
The
market in Asia Pacific can be broken down into smaller markets in the countries
of India, Japan, China, Republic of Korea, Australia and the rest of the
region. The regional market is touted to be the fastest-growing globally as a
result of the rise in the infectious disease which includes the RSV infection.
Also, the increasing healthcare expenditure coupled with the surge in the
demand for RSV disease diagnosis has taken the market to higher levels in the
past few years. In addition, countries like India, China, and Japan are deemed
to be growing at the fastest rate in the region with the expanding healthcare
systems along with the growing government initiatives backing up these markets.
Showcasing
a rather sluggish growth rate in the global market is the region of the Middle
East and Africa, which despite various restraints holds immense potential. The
market shows promise, with the support of various factors including the
increasing awareness and high investments by private industry participants
combined with the increasing incidences of RSV in children in the region.
Key Vendors
RSV
Diagnostics Market Players Bio-Rad Laboratories Inc., Abbott, F.
Hoffman-La Roche Ltd., Danaher Corporation, Quest Diagnostics, Biocartis,
Luminex, Hologic, Fast Track Diagnostics, Biomerieux, Becton, Dickinson, and
Company (BD), Alere, Inc., Quidel Corporation, Thermo Fisher Scientific are
among some of the top most companies in the RSV diagnostics market.
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