Global RSV Diagnostics Market Research Report: By Product (Kits and Assays, Others), by Method (Rapid Antigen Detection Tests, Molecular Diagnostic Tests, Others), By End-User (Hospital and Clinics, Clinical Laboratory, Others) – Global Forecast Till 2023
Market Highlights
Respiratory Syncytial Virus (RSV) is a virus that can cause serious respiratory infections such as pneumonia and bronchitis. The increasing incidence rate of respiratory infections, growing demand for in-vitro diagnostics, and growing neonatal population are major factors propelling the growth of the market. For instance, according to the Centres for Disease Control and Prevention, in the United States, RSV on an average lead to 57,527 hospitalizations among children below five years of age. On the other hand, some factor such as lack of availability of specific treatment options for RSV infections and the high number of other pathogens that cause similar symptoms of respiratory illness may hamper the growth of the market during the assessment period.
Regional Analysis
The Americas is likely to dominate the global RSV diagnostics market during the forecast period. The market growth is attributed to increasing incidences of RSV infections, increasing government funding's, and increasing infant population. Additionally, growing demand for molecular diagnostics and chromatographic immunoassays in this region owing to the high accuracy, sensitivity, and specificity these devices provide. For instance, as per the data stated by the Centres for Disease Control and Prevention, in the United States, RSV leads to an estimated 2.1 million outpatient visits among children below five years of age every year. Europe is anticipated to be the second largest market in the global RSV diagnostics market. The European market is expected to grow during the forecast period owing to the growing occurrence of RSV infections and growing government funding for respiratory diseases. Asia Pacific is expected to be the fastest growing market owing to the high population base, increasing prevalence of respiratory diseases such as pneumonia and bronchitis, and growing demand for automated healthcare testing for the accurate diagnosis of diseases. Furthermore, the Middle East and Africa are expected to show the least growth in the global RSV diagnostics market. The market growth in these regions is attributed to the constantly improving healthcare infrastructure, economic development, and rising patient awareness levels.
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Segmentation
The global RSV diagnostics market is segmented on the basis of the product, method, and end-user. On the basis of the product, the market is classified into kits and assays, instruments, and other products. The global RSV diagnostics market on the basis of the method is segmented into molecular diagnostics, rapid antigen detection test, gel microdroplets, flow cytometry, and others. The rapid antigen detection tests are further classified into enzyme-linked immunosorbent assays, immunofluorescence assays, and other rapid antigen detection tests. Further, the other rapid antigen detection tests are classified into chromatographic immunoassays and optical immunoassays. Furthermore, on the basis of end-user, the market is segmented into hospitals and clinics, clinical laboratories, home care, and others.
Research Methodology
Market Research Future research is conducted by industry experts who offer insight into industry structure, market segmentation, Treatment assessment, competitive landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments & categories geographically presented are studied and are estimated based on primary & secondary research.
- Primary Research
The extensive primary research was conducted to gain a deeper insight into the market and the industry performance. In this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
- Secondary Research
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the RSV diagnostics market. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, & developments related to the market and Treatment Perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, the international organization of chemical manufacturers, some paid databases and many others.
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Key Players
Some of the key players in the global RSV diagnostics market are Quest Diagnostics, Biomerieux, Becton, Dickinson, and Company (BD), Abbott, F. Hoffman-La Roche Ltd., Danaher Corporation, Thermo Fisher Scientific, Biocartis, Luminex, Hologic, Fast Track Diagnostics, Bio-Rad Laboratories Inc., Alere, Inc., Quidel Corporation, and others..
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