Respiratory Syncytial Virus (RSV) Diagnostics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Respiratory Syncytial Virus (RSV) Diagnostics Market: Overview
High incidence of respiratory syncytial virus (RSV) especially among infants and elderly serves as a significant growth factor for respiratory syncytial virus (RSV) diagnostics market. Respiratory syncytial virus (RSV) is a respiratory virus that occurs especially in infants and the elderly. The symptoms are usually mild and similar to a cold. It causes respiratory infections like pneumonia and bronchiolitis. A major chunk of people recover in a week or two. Children under the age of five are the most affected by this infection. Over 99 percent of respiratory syncytial virus (RSV) deaths are among the children under the age of five.
Based on technologies, the respiratory syncytial virus (RSV) diagnostics market can be classified into immunoassays, artificial intelligence, liposomes, differential light scattering, antibodies, gel microdroplets, and others.
This report on the respiratory syncytial virus (RSV) diagnostics market presents a detailed analysis of the current scenario and focuses on vital aspects like key competitors, technological advancements, and the regional landscape as well. This report can prove to be a valuable asset for market shareholders and others.
Respiratory Syncytial Virus (RSV) Diagnostics Market: Competitive Landscape
Respiratory syncytial virus (RSV) diagnostics market is highly fragmented with players ranging from domestic to the international level. The COVID-19 outbreak has created havoc in the world with a high death rate and positive patient rate. Manufacturers are focusing on technological innovations for speeding up the diagnosis of the respiratory syncytial virus. Frequent mergers and acquisitions also take place in the respiratory syncytial virus (RSV) diagnostics market. The acquisition of Sigma Aldrich by Merck KGaA is a classic instance.
Key players include Hoffmann La Roche Limited, Quidel Corporation, Coris BioConcept, Quest Diagnostics, Novartis Diagnostics, Alere Inc., Abbott Laboratories, Diasorin SPA, and Fast-track diagnostics.
Respiratory Syncytial Virus (RSV) Diagnostics Market: Key Trends
The COVID-19 outbreak has leveled up the dire need for rapid screening devices. Researchers and developers are coming up with new technologies for speeding up the COVID-19 screening process. This has prompted the manufacturers to develop devices for COVID-19 screening use after a few minor changes in the devices. Abbott Laboratories recently launched a 5-minute virus test diagnostic device and the technology is based on a common point-of-care test to detect influenza and respiratory syncytial virus. Thus, this can tap the growth rate of the respiratory syncytial virus (RSV) diagnostics market.
Also, a new finding has proved that one in five COVID-19 patients is co-infected with another respiratory virus. Thus, individuals having symptoms of respiratory syncytial virus may go for testing in large numbers. Therefore, this can boost the growth of the respiratory syncytial virus (RSV) diagnostics market.
Respiratory Syncytial Virus (RSV) Diagnostics Market: Regional Assessment
The respiratory syncytial virus (RSV) diagnostics market is regionally segmented into North America, South America, the Middle East and Africa, Asia Pacific, and Europe. North America is expected to continue its lead over the respiratory syncytial virus (RSV) diagnostics market owing to the maximum number of coronavirus cases in the U.S. and the growing infant population.
Asia Pacific is also expected to record a steady growth rate due to the population boom in countries like India and China. China, being the epicenter of the novel coronavirus disease, is expected to garner massive growth in the region. Besides, the infant population is also on the rise in China. Strong steps by governments such as generating awareness about the respiratory syncytial virus (RSV) through various initiatives may also prove a growth multiplier.
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