San Francisco, 19 September
2018: According to a report published by Grand View Research,
Inc.; the respiratory
syncytial virus (RSV) diagnostics market is likely to reach a
valuation of around USD 1.2 billion by 2022. Rising prevalence of respiratory
infections, increasing infant population, high demand for in-vitro diagnostics,
and growing demand for point of care facilities can drive the market over the
forecast period (2012 to 2022).
Increasing occurrence of
newborns suffering from respiratory conditions like RSV infections and
childhood pneumonia coupled with supportive efforts by healthcare providers for
diagnosis are likely to boost the market growth in the coming years. As per the
world population meter, in 2015, over 88 billion births were noticed and out of
these more than 2.8 million babies died in the first month due to infection and
lack of screening for such conditions. Reputed organizations such as World
Health Organization (WHO), Pan America Health Organization (PAHO), The Centers
for Disease Control and Prevention (CDC), and others are also taking efforts in
spreading awareness and educate parents regarding the probable disorders and
their diagnostic procedures. This is also expected to boost the market
demand.
The worldwide respiratory
syncytial virus (RSV) diagnostics market can be segmented on the basis of
product, end-use, and region.
Based on product, the market
can be bifurcated into direct fluorescence antibody (DFA) method, rapid antigen
diagnostic tests (RADTs), flow cytometry, molecular diagnostics, diagnostic
imaging, chromatographic immunoassay, gel microdroplets, and others. As per
end-use, the market can be categorized into hospitals, laboratory, clinics, and
homecare. Hospitals and home care segments together are anticipated to
contribute over 50.0% of the market share in 2022.
Access
Research Report of RSV
Diagnostics Market@ www.grandviewresearch.com/industry-analysis/respiratory-syncytial-virus-diagnostics-market
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East and Africa (MEA).
North America has been
dominating the market and expected to contribute revenue share over 40.0% by
2022. Increasing incidence of these disorders and growing neonatal population
are factors expected to drive regional growth over the forecast period. In
2014, hospitalization of more than 150,000 kids (below the age of five) and
around 14,000 deaths in elderly patients were recorded in the U.S. due to RSV
infections. Products such as chromatographic immunoassays and molecular
diagnostics are widely used in the region as they offer high accuracy,
specificity, and sensitivity. In addition, growing awareness among the
population and supportive efforts from government organizations such as WHO and
Pan American Health Organization (PAHO) to perform screening for newborns are
also expected to drive the market growth in the region.
Latin America is expected to
show significant growth due to increasing cases of childhood pneumonia.
According to the WHO, approximately 151.8 million cases of childhood pneumonia
were noted in 2001 in Latin America and about 1.9 million of these cases caused
death. In addition, the government has ordered 100% screening of all children
born in private sector hospitals.
According to paper entitled “Respiratory syncytial virus infection as a
cause of hospitalization in population under 1 year in Colombia” in the Jornal
de Pediatria, one in 3 cases of lower respiratory tract infection is caused by
RSV and nearly 30.0% cases of the infection were in Columbia.
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Grand View Research at: www.grandviewresearch.com/industry/medical-devices
Asia Pacific is expected to
show fastest growth during the forecast period due to rising incidence of
infectious diseases. Growing demand for automated healthcare testing for fast
and accurate diagnosis of the disease is likely to spur the market growth in
the region. Countries such as India,
China, Malaysia, and Japan are anticipated to show high growth in the region.
This growth can be associated with increasing infant population, improving
healthcare facilities, economic development, and increasing government
initiatives.
Key players operating in the
market include Thermo Fisher Scientific Inc.; Dickinson and Company; Bio-Rad
Laboratories Inc.; Quidel Corporation, Alere Inc.; and BioMerieux.
The participants in the market
are expected to adopt strategies including new product launches, mergers and
acquisitions to strengthen their product range, and expansions to create a
global presence. The strategic partnerships between pharmaceutical companies
and in vitro diagnostic manufacturing companies to develop companion
diagnostics are expected to create future opportunities.
Access
Press Release of RSV Diagnostics Market@ www.grandviewresearch.com/press-release/global-rsv-diagnostics-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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