Innovations Soar as Becton Dickinson, Thermo Fisher Scientific Among Others Aim for Competitive Edge in Respiratory Syncytial Virus (RSV) Diagnostics Market
23 Aug 2021
AntibodyVaccineAcquisitionCollaborate
China to Offer US$ 253 Mn Incremental Opportunity to Respiratory Syncytial Virus (RSV) Diagnostics Market through 2031
The respiratory syncytial virus (RSV) diagnostics market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the market through 2031. The survey offers RSV diagnostics demand outlook and studies opportunities existing in key segments, including technology and end-users. It also highlights key strategies adopted by market players to increase RSV diagnostics sales.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per insights by Fact.MR, the global market for respiratory syncytial virus (RSV) diagnostics is anticipated to grow at a CAGR of 9% over the assessment period 2021-2031, totalling US$ 1.3 by the end of 2031.
Increasing incidence of RSV infections is significantly contributing towards the growth of the market. According to the Centre of Disease Control and Prevention (CDC), every year RSV leads hospitalizations of nearly 1,32,000 - 1,72,000 children below the age of five, and the death of around 14,000 adults above the age of 65 in the United States alone.
Some of the leading market players are seeking to accommodate technological innovations for accelerating the diagnosis of RSV. As a result, plasmonic detection techniques such as localized surface plasmon resonance (LSPR) spectroscopy are gaining traction due to its rapid diagnostics and superior sensitivity and affordable properties.
Besides this, rise in prevalence of RSV infections especially among infants and young children is pushing demand for molecular diagnostic tests. This in turn is expected to create a conducive environment for growth of the market.
Also with the outbreak of COVID-19 pandemic, the demand for rapid testing kits has increased steadily. Since novel coronavirus directly affects the respiratory system, several companies are focusing on offering RSV diagnostics kits for testing COVID-19.
For instance, the U.S. Food Administration and Drug (FDA) approved Mesa Biotech’s Accula device for COVID-19 is widely adopted for prompt diagnosis since it gives results in around 30 minutes.
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Growth prospects are likely to remain optimistic for the China market, driven by rise in infant population, government awareness programs regarding RSV. As per FMI, the China market for RSV diagnostics is estimated to reach a valuation of US$ 253 Mn by the end of 2031.
“Increasing penetration of technological innovations is anticipated to propel growth of the RSV diagnostics market over the forecast period. Besides these, market players are emphasising on introducing novel testing kits to offer prompt diagnosis. Several other players are expanding their footprint by focusing acquisitions and partnership. This in turn will bolster future growth prospects, says a Fact.MR analyst
Key Takeaways from RSV Diagnostics Market Survey
China market for RSV diagnostics is forecast to reach a valuation of US$ 253 Mn by the end of 2031.
North America is expected to emerge as a lucrative pocket, accounting for a leading market share.
Driven by increasing burden of infectious diseases, the Asia Pacific market for RSV diagnostics is expected to grow at a healthy CAGR.
Kits and Essays will account for over 36% of global sales for RSV diagnostics.
Europe is anticipated to grow at an impressive pace over the assessment period 2021-2031.
Key Drivers
Increasing incidence of RSV infections is a key factor driving the market growth.
Growing demand for point of care (POC) devices is positively impacting the market growth.
Key Restraints
Lack of awareness regarding RSV diagnostics in rural areas may hamper the market growth.
Lack of availability of specific treatment options is likely to limit the growth of the market over the forecast period.
To learn more about Respiratory Syncytial Virus (RSV) Diagnostics Market, you can get in touch with our Analyst at
Competitive Landscape
RSV diagnostics manufacturers are adopting business expansions, acquisitions and partnerships strategies to expand their footprint in the market.
For instance, in 2020, Becton Dickinson announced the acquisition of NAT diagnostics, a molecular diagnostics firm concentrated on rapid point-of-care-testing. With this acquisition of NAT diagnostics, Becton expands its footprint into Point-of-care MDx space.
In 2021, Thermo Fisher Scientific, a global leader in service science announced the acquisition of Mesa Biotech, Inc., point of care molecular diagnostics provider.
Some of the leading players operating in the RSV diagnostics market profiled by Fact.MR are:
Abbott Laboratories
Becton
Dickinson and Company
BioMérieux SA
Bio-Rad Laboratories
Coris BioConcept
DiaSorin Molecular LLC (DiaSorin Inc)
F. Hoffmann-La Roche AG
Merck KgaA
Quest Diagnostics Incorporated
Quidel Corporation
Thermo Fisher Scientific
More Valuable Insights on RSV Diagnostics Market
Fact.MR, in its new report, offers an unbiased analysis of the global RSV diagnostics market, analysing forecast statistics through 2021 and beyond. The survey reveals growth projections on RSV diagnostics market with detailed segmentation:
By Technology
RSV Molecular Diagnostics
RSV Monoclonal Antibodies
Immunoassays
Differential Light Scattering
Artificial Intelligence
Liposomes
Flow Cytometry
Chromatography
Diagnostic Imaging
Gel Microdroplets
By End Users
Respiratory Syncytial Virus Diagnostics at Hospitals
Respiratory Syncytial Virus Diagnostics at Nursing Homes
Respiratory Syncytial Virus Diagnostics at Commercial Laboratories
Respiratory Syncytial Virus Diagnostics at Public Health Laboratories
Key Questions Covered in the RSV Diagnostics Market Report
The market survey also highlights projected sales growth for RSV diagnostics market between 2021 and 2031
The report offers insight into RSV diagnostics demand outlook for forecast period 2021-2031
RSV diagnostics market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
RSV diagnostics market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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