(I-BusinessNews.Com, July 24, 2020 ) Factors driving the growth of this market include the rising burden of RSV infections, growing demand for PoC molecular diagnostic tests for the diagnosis of RSV infections, and increasing approval of RSV diagnostic kits and assays.
RSV diagnostics is done to diagnose lower respiratory tract infections (LRTIs) in children caused by respiratory syncytial virus (RSV) which is the leading cause of infant hospital admissions in developed countries.
According to the new market research report RSV Diagnostics Market is expected to reach USD 929.2 Million by 2022 from USD 574.3 Million in 2017, at a CAGR of 10.1%.
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• On the basis of products, the RSV diagnosis market is categorized into kits and assays, instruments, and other products. The kits and assays segment is expected to register the highest growth during the forecast period.
• Based on end user, the market is segmented into hospitals & clinics and home care. The hospitals and clinics segment is estimated to grow at the highest rate during the forecast period. The increasing demand for RSV diagnostic testing in hospitals and clinics is driving the growth of this segment.
• Based on method, the market is segmented into molecular diagnostics, rapid antigen detection tests, and other methods. The molecular diagnostics segment is estimated to register the highest growth during the forecast period.
The RSV diagnostics market is consolidated in nature due to the presence of a large number of players. The key players in the market are bioMerieux (France), Becton Dickinson (US), Abbott (US), Roche (Switzerland), Danaher (US), Thermo Fisher (US), Luminex (US), BioCartis (Belgium), Hologic (US), and Fast Track Diagnostics (Luxembourg).
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Most companies in the RSV diagnostics market adopted agreements, expansions, and product launches as the key business growth strategy. These strategies accounted for the largest share of the overall growth strategies mapped from 2014 to 2017. Some of the leading players who adopted these strategies include bioMerieux (France), Abbott (US), Roche (Switzerland). bioMérieux is a world leader in in vitro diagnostics, molecular diagnostics, and microbiology automation. The company operates through two major business divisions, namely, clinical diagnostics and industrial microbiology.
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