Respiratory Syncytial Virus Diagnostic Market Analysis By Industry Share, Merger, Acquisition, Size Estimation, Statistics, Overview, and Forecast till 2026
The global Respiratory Syncytial Virus Diagnostic market was valued at USD 12.21 billion in 2018 and is expected to reach USD 21.48 billion by year 2026, at a CAGR of 7.3 %. The study discusses the increased adoption of the diagnosis of respiratory syncytial virus, due to the significant increase in the number of RSV infections, with the increasing demand for molecular diagnostic tests for PoC for the diagnosis of infections. Demand for Respiratory Syncytial Virus Diagnostic is fueled by increase in demand of minimal to completely invasive testing technique, and increasing approval of RSV kits and diagnostic tests. Unpredicted climate changes as well as polluted climate has increased the incidences of pulmonary diseases such as pneumonia, bronchiolitis etc. These factors are expected to stimulate market demand for infectious disease testing such as Respiratory Syncytial Virus Diagnostic. A wide range of diagnostic tests for Respiratory Syncytial Virus are available, including molecular diagnostic tests, viral culture tests, rapid tests, serological tests and rapid immunological tests. Various players are majorly focused on combining these technologies and rapid immunoassays to develop the best approach to diagnose RSV infections. It is also anticipated that the increasing incidence of pneumonia in children will stimulate the demand for RSV testing.
The most commonly used mechanism for the molecular diagnosis of RSV is the reverse transcriptase polymerase chain reaction (RT-PCR) and the multiplexed nucleic acid amplification. The RSV market is expected to grow profitably, as home health care is a cost-effective alternative while in hospital. The availability of qualified and skilled home care staff should support the growth of home care in the RSV diagnostic market. To prevent increasing number of RSV infections, organizations such as WHO, CDC, PAHO and the Healthy Newborn Network are working to educate parents about possible disorders and their diagnostic procedures. Suppliers are developing new RSV diagnostic products with greater efficiency. These launches will contribute to business income, which will boost the market. These advanced product launches will make products accessible to end-users and reduce the time needed for diagnosis. However, shortage of specific treatments and lack of awareness is expected to hinder the market growth.
Top Companies Profiled in the Report Include
Merck KGaA completed the acquisition of Sigma-Aldrich and associated it with EMD Millipore..
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Respiratory Syncytial Virus Diagnostic market in these key regions.
Country-wise regional analysis covers:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
o BENELUX
o Italy
o Spain
o Switzerland
o Russia
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Turkey
o Rest of MEA
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Additionally, the report consists a detailed analysis of the segmentation of the Respiratory Syncytial Virus Diagnostic market based on product types and end-use/application offered in the Respiratory Syncytial Virus Diagnostic market.
Diagnostic Technology (Revenue, USD Million; 2018–2026)
• Kits and Assays
• Instruments
• Others
Diagnostic Technology (Revenue, USD Million; 2018–2026)
• Immunoassay
• Molecular Diagnostic
• Monoclonal Antibodies
• Flow Cytometry
• Diagnostic Imaging
• Chromatography
• Gel Microdroplets
• Others
End Users (Revenue, USD Million; 2018–2026)
• Physician Office
• Hospitals
• Commercial Laboratories
• Nursing Homes
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