Respiratory Syncytial Virus Diagnostics Market : Industry Analysis, Share, Segmentation, Price Trends, Regional Analysis and Forecast 2032

 The Global Respiratory Syncytial Virus (RSV) diagnostics market size was USD 923.0 Million in 2022 and is expected to register a steady revenue CAGR of 10.9% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of respiratory infections and demand for Point-Of-Care (POC) devices and increasing neonatal population are major factors driving market revenue growth. RSV is a mild infection affecting the upper respiratory tract of young children. The common symptoms of RSV include cough, sore throat, wheezing, and runny nose. 

Upper Respiratory Infections (URIs) is the most frequent disorder. According to the National Health Portal of India, 41,996,260 instances of respiratory infections and 3,740 deaths were documented in India. India accounts for 18% of the world's population, with Severe Acute Respiratory Infection (SARI) being one of the leading causes of death. In addition, increasing investments into healthcare infrastructure and product launches for syncytial virus diagnostic products by leading companies is another key factor driving revenue growth of the market. On 2 November 2022, QuantuMDx Group Limited, based in the UK, and A.Menarini Diagnostics S.r.I. (Menarini) signed an exclusive distribution agreement for QuantuMDx's Q-POCTM technology in the UK and France. Menarini is able to market, distribute, and service Q-POCTM, QuantuMDx's SARS-CoV-2 assay.

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However, low detection power of immunoassay is a major factor, which could restrain market revenue growth. According to National Center for Biotechnology Information (NCBI), immunoassays take advantage of the highly specific interaction between antibodies and antigens to offer a critical tool for detecting biomolecules in low quantities. Furthermore, product recalls by leading companies and federal government agencies is another factor, which could restrain market revenue growth.

Key Highlights from the Report

  • The molecular diagnostics segment is expected to account for largest revenue share in the global RSV diagnostics market during the forecast period. This is due to technological advancements and development in molecular diagnostics and inclusion of new technologies and extremely precise tests into clinical testing methods.  The most widely used techniques for RSV molecular diagnostics are Reverse Transcriptase Polymerase Chain Reaction (RT-PCR) and multiplexed nucleic acid amplification. As a result, major companies are developing and manufacturing molecular diagnostics.
  • The Rapid Antigen Diagnostic Tests (RADTs) segment is expected to register steadily fast revenue growth rate in the global RSV diagnostics market during the forecast period. RADT for RSV is widely employed in clinical laboratories, which have the potential benefits of Point-Of-Care (POC) testing. Microbiologic diagnosis of RSV has been determined by moderate to complex laboratory procedures (cell culture, nucleic acid amplification, and immunofluorescence assays)
  • The North America accounted for largest revenue share in the global RSV diagnostics market in 2022 due to rising prevalence of RSV. RSV attacks the lungs and breathing passageways, and nearly all children in the U.S. are infected with RSV by the age of two. RSV infection symptoms are usually mild and dissipate within a week in healthy persons. In addition, RSV can cause serious injuries or fatalities in vulnerable persons, such as neonatal and very young infants, children with persistent lung conditions or congenital heart disease, and people over the age of 65. RSV infection is predicted to cause roughly 14,000 fatalities and 58,000 hospitalizations among children under the age of five in the U.S. each year.

 

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

·       North America (U.S., Canada)

·       Europe (U.K., Italy, Germany, France, Rest of EU)

·       Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

·       Latin America (Chile, Brazil, Argentina, Rest of Latin America)

·       Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Market Overview:

The report bifurcates the Respiratory Syncytial Virus Diagnostics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Emergen Research has segmented global RSV diagnostics market on the basis of product, end-use, and region:

  • Product Outlook (Revenue, USD Million; 2019-2032)
    • Rapid Antigen Diagnostic Test (RADTs)
    • Direct Fluorescent Antibody (DFA) Method
    • Molecular Diagnostics
    • Chromatographic Immunoassay
    • Gel Microdroplets
    • Others
  • End-use Outlook (Revenue, USD Million; 2019-2032)
    • Hospitals and clinics
    • Laboratory
    • Homecare

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Respiratory Syncytial Virus Diagnostics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are: Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Quidel Corporation., Coris BioConcept, Quest Diagnostics Incorporated., Novartis AG, Merck KGaA, Coris BioConcept, and Abbott

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Highlights of Table of Contents (TOC):

·       Overview of Global Respiratory Syncytial Virus Diagnostics Market

·       Competitive analysis of the Respiratory Syncytial Virus Diagnostics market

·       Regional analysis of Global Respiratory Syncytial Virus Diagnostics market production and revenue

·       Regional analysis of Global Respiratory Syncytial Virus Diagnostics market supply, consumption, and export & import

·       Type-based market analysis of global Respiratory Syncytial Virus Diagnostics production, revenue, and price trends

·       Application-based analysis of the global Respiratory Syncytial Virus Diagnostics market

·       Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Respiratory Syncytial Virus Diagnostics market

·       Global Respiratory Syncytial Virus Diagnostics market forecast (2023-2032)

·       Conclusion of the research report

·       Appendix

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