Fact.MR, a market research and competitive intelligence provider, projects the global respiratory syncytial virus (RSV) diagnostics market to progress positively, surging at a CAGR of above 9% across the 2021-2031 forecast period.
Growing demand for point of care testing of respiratory syncytial virus (RSV)-infected patients and developments in the field of specific markers such as proteomics and genomic are set to accelerate market growth over the coming years.
Increase in the number of patients suffering from RSV infections has raised the overall burden of the disease, and, as such, has fuelled demand for RSV diagnostics globally. Approval of respiratory syncytial virus diagnostic assays & kits is further opening up various opportunities for market players.
North America dominates the market for respiratory syncytial virus diagnostics due to advanced technologies and innovation across the region, while the market in Asia Pacific is expected to surge at a high growth rate over the forecast period due to increasing burden of RSV infections among the population.
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Key Market Segments Covered in Respiratory Syncytial Virus Diagnostics Industry Research
- By Technology
- RSV Molecular Diagnostics
- RSV Monoclonal Antibodies
- Differential Light Scattering
- Artificial Intelligence
- Flow Cytometry
- Diagnostic Imaging
- Gel Microdroplets
- By End Users
- Respiratory Syncytial Virus Diagnostics at Hospitals
- Respiratory Syncytial Virus Diagnostics at Nursing Homes
- Respiratory Syncytial Virus Diagnostics at Commercial Laboratories
- Respiratory Syncytial Virus Diagnostics at Public Health Laboratories
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Key Takeaways from Market Study
- Market for respiratory syncytial virus diagnostics to grow 2.3X in value by 2031, and reach a valuation of US$ 1.3 Bn by 2031.
- RSV diagnostic kits & assays account for more one-third of the global market share.
- Market for RSV diagnostics in China to top US$ 253 Mn by 2031.
- Demand for respiratory syncytial virus diagnostics in Canada to increase at CAGR of 7.4%.
- Market in Japan anticipated to expand at CAGR of 6% from 2021 to 2031.
- New technological advancements in the field of diagnostics to boost market growth over next 10 years.
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The respiratory syncytial virus diagnostics landscape is highly fragmented in nature. 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 market. The acquisition of Sigma Aldrich by Merck KGaA is a classic example.
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