RSV Diagnostics Market Leading Players and Business Trends

According to market research report RSV Diagnostics Market is expected to reach $1,503.3 million by 2027, at a CAGR of 10.1%

Posted on 2021-08-20 by MarketsandMarkets in Healthcare // 0 Comments

Northbrook, IL, USA, 2021-Aug-20 — /EPR Network/ — According to the new market research report RSV Diagnostics Market is expected to reach USD 1,503.3 million by 2027 from USD 574.3 million in 2017, at a CAGR of 10.1%.

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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. Growth in this market is mainly driven by factors such as rising burden of RSV infections and growing demand for PoC molecular diagnostic tests for the diagnosis of RSV infections.

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. Growth in this market is mainly due to the increasing approval of RSV diagnostic kits and assays.

The products segment is further segmented into kits and assays, instruments, and other products. The kits and assays segment is expected to account for the largest share of the global Respiratory Syncytial Virus Diagnostics Market in 2017.

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. Growth in this segment can be attributed to the growing demand for molecular diagnostic tests for the diagnosis of RSV infections.

The molecular diagnostic segment is expected to account for the largest share of the global Respiratory Syncytial Virus Diagnostics Market in 2017.

On the basis of 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.

The major players in the RSV diagnostics market are bioMérieux (France), Abbott (US), Roche (Switzerland), BD (US), Thermo Fisher (US), Luminex (US), Danaher (US), Biocartis (Belgium), and Hologic (US).

Given the immense opportunities in the major applications of RSV diagnostics, market leaders and emerging players are increasingly focusing on the market in the segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies.

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The global RSV diagnostics market is dominated by North America, followed by Europe. North America will continue to dominate the global market in the forecast period. This is mainly due to factors such as the increasing patient base of RSV diseases, technological advancements in PoC molecular diagnostic devices, and growing healthcare expenditures.

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