Increasing caseload of RSV Infections, rising demand for PoC molecular diagnostic tests, and augmenting risks of RSV infections due to unhygienic surroundings and crowded places are some of the key driving forces for this market
Market Size – USD 13.10 Billion in 2019
Market Growth – CAGR of 7.3%
Market Trends – The growing burden of RSV infections
The global respiratory syncytial virus diagnostic market, which held a market revenue of USD 13.10 billion in 2019, is projected to accrue around USD 24.73 billion by 2027, registering a 7.3 % CAGR. Respiratory syncytial virus, also known as human orthopneumovirus, is a highly contagious virus that leads to severe respiratory tract infections. RSV also causes serious illnesses related to the heart and immune systems that most severely affect children and premature infants. As claimed by the U.S. Centre for Disease Control and Prevention (CDC), RSV is the most common cause of pneumonia and other respiratory ailments in the U.S., with over 125,000 cases reported each year. The common symptoms of the infection include mild headache, sore throat, cough, and runny nose. Some of the common RSV diagnostic tests are the polymerase chain reaction assay, chest radiography, viral culture tests, molecular probes, serological tests, and rapid immunological tests. However, the most common molecular diagnostic procedures for RSV infection are the reverse transcriptase-polymerase chain reaction (RT-PCR) and the multiplexed nucleic acid amplification.
The global respiratory syncytial virus diagnostic market has experienced tremendous growth over recent years. The pivotal market growth-inducing factors the growing incidences of viral respiratory infections like pneumonia, increasing caseload of RSV infections, rising demand for advanced RSN diagnostic procedures, growing infant mortality rate due to childhood pneumonia, and the burgeoning demand for PoC molecular diagnostic tests. As reported by the WHO, nearly 120 million children and neonates are diagnosed with pneumonia each year. Furthermore, factors such as drastic climate changes, unhygienic environments, and crowded places further augment the RSV infection risk. The ongoing COVID-19 pandemic has had an unprecedented impact on the global respiratory syncytial virus diagnostic market, owing to a massive surge in demand for diagnostic tests like RT-PCR for COVID-19 disease diagnosis. Manufacturers are increasingly focusing on bringing out advanced diagnostic technologies and treatment approaches for RSV infections, which is another key factor propelling the global market growth.
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Key Highlights:
- Among the multiple diagnostic technologies, the immunoassay segment is projected to grow at a robust rate of 7.8% over the forecast timeframe. This segment had accounted for a significant 29.3% of the overall share of the global respiratory syncytial virus diagnostic market by 2019.
- North America has emerged as the leading regional market for respiratory syncytial virus diagnostics, with the largest market share of around 43.4% by 2019. The growing prevalence of respiratory infections, rising newborn population, and the surging cases of childhood pneumonia and bronchiolitis are the key drivers for this regional market. The market in this region is likely to grow further due to the presence of an avant-garde healthcare system and rising healthcare expenditure. With India, Japan, China, and Malaysia as the leading contributors, the Asia Pacific market is expected to register substantial growth over the estimated period.
- In October 2020, GSK, the British pharmaceutical major, announced the final-stage trial of its experimental RSV vaccine. Reportedly, the announcement came on the heels of the success of the vaccine’s Phase I/II trial, which involved around 1,000 older adults, aged between 60-80 years. The vaccine led to an increase in immune cells and antibodies in the participants within a month after administration.
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For the purpose of this report, the global respiratory syncytial virus diagnostic market is segmented based on diagnostic technology, end-user, and region:
Diagnostic Technology Outlook (Revenue, USD Million; 2017-2027)
- Kits & Assays
- Immunoassay
- Instruments
- Monoclonal Antibodies
- Molecular Diagnostic
- Flow Cytometry
- Chromatography
- Diagnostic Imaging
- Gel Microdroplets
- Others
End-User Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Laboratories
- Nursing Homes
- Physicians’ Offices
Regional Outlook (Revenue in USD Million; 2017-2027)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- France
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
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Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Growing demand for PoC molecular diagnostic tests for the diagnosis of RSV infections
3.2. Increasing approval of RSV diagnostics
3.3. Highly dense population and unhygienic environment increases chances of RSV infection
Chapter 4. Respiratory Syncytial Virus Diagnostic Segmentation & Impact Analysis
4.1. Respiratory Syncytial Virus Diagnostic Segmentation Analysis
4.2. Respiratory Syncytial Virus Diagnostic Market Value Chain Analysis, 2018-2026
4.3. Regulatory framework
4.4. Respiratory Syncytial Virus Diagnostic Market Impact Analysis
4.4.1. Market driver analysis¬
4.4.1.1. Demand for rapid diagnostic techniques.
4.4.1.2. Increasing Burden of RSV Infections
4.4.1.3. Increasing Approval of RSV Diagnostic Kits and Assays
4.4.1.4. Increasing incidences of childhood pneumonia
4.4.2. Market restraint analysis
4.4.2.1. Low Detection Limits of Immunoassays
4.4.2.2. Shortage of specific treatment options
4.5. Key opportunities prioritized
4.6. Respiratory Syncytial Virus Diagnostic Pricing Analysis
4.7. Industry analysis – Porter’s
4.8. Respiratory Syncytial Virus Diagnostic PESTEL Analysis
Continued…….
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