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(Publishing-NewsWire.com, October 21, 2021 ) According to 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%.
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.
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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 RSV Diagnostics Market in 2017. Factors driving the growth of this segment include the increasing infection of RSV in newborn infants and young children and growing demand for kits and assays for RSV diagnosis.
The molecular diagnostic segment is expected to account for the largest share of the global respiratory syncytial virus diagnostic market in 2017. Market growth can largely be attributed to factors such as the increasing adoption and demand for molecular diagnostic testing for RSV diagnosis.
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 RSV diagnostics market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is expected to register the highest growth due to the heavy burden of RSV diseases and growth in the demand for RSV disease diagnostics.
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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Key players in the RSV Diagnostics Market include bioMérieux (France), Becton Dickinson (US), Abbott (US), Roche (Switzerland), Danaher (US), Luminex (US), BioCartis (Belgium), Hologic (US), and Fast Track Diagnostics (Luxembourg).
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