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Global RSV Diagnostics Market to Reach USD 1516.89 Million by 2027, Aided by the Rapid Advancements in the Healthcare Technology

According to a new report by EMR titled, ‘Global RSV Diagnostics Market Report and Forecast 2022-2027’, the global RSV diagnostics industry attained a value of about USD 846.96 million in 2021. The market is further expected to grow at a CAGR of 10.2% during the forecast period of 2022-2027 to reach nearly USD 1516.89 million by 2027.

The global market for RSV diagnostics is primarily driven by the rising cases of RSV disorder that affects lungs and causes breathing problems. The disease most commonly happens in children below two and may even lead to death if left untreated. Hence, the market is positively influenced by the increasing demand for effective diagnostic in hospitals, clinics, and homecare. Apart from this, North America is likely to hold a significant share in the overall market growth of RSV diagnostics. This can be associated with huge investments into research and development (R&D) and the growth of the healthcare sector in the region. In addition to this, the advent of the COVID-19 pandemic also positively influenced the market's growth, with pharmaceutical companies like Abbott Laboratories (NYSE: ABT) being involved with the production of rapid testing technology to deliver results as quickly as possible. This is thus anticipated to push the market growth of RSV diagnostics.

Cepheid, a leading market player in the global market for RSV diagnostics, provides diagnostics tests to detect upper respiratory disorders. The company got approval from the FDA in February 2017 for its GeneXpert System diagnostics brand. Cepheid's Xpert Xpress Flu and Xpert Xpress Flu/RSV diagnostics deliver results in approximately 30 minutes, allowing patients to quickly access targeted therapies. Such developments by leading market players are invigorating the market growth of RSV diagnostics globally.

Market Analysis by Product, End-Use, and Region:

  • On the basis of product, the market can be divided into direct fluorescent antibody (DFA) method, rapid antigen diagnostic test (RADT), molecular diagnostic, chromatographic immunoassay, diagnostic imaging, gel microdroplets, and flow cytometry, among others.
  • Based on end-use, the industry can be segmented into hospitals, laboratories, clinics, and homecare.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rising incidences of RSV disorders that affect the respiratory system and cause breathing problems. 
  • The increasing demand for an effective diagnostic solution to deliver quick, specific, and effective diagnostics is invigorating the market's growth. 
  • Technological advancements in diagnostics and the introduction of bio-and nanotechnology facilitating the development of modern detection systems for RSV are contributing to the market growth.
  • Robust investments into research and development (R&D), government-funded schemes, and awareness programmes are augmenting the overall growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global RSV diagnostics industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for products, end-uses, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global RSV diagnostics market are Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Becton, Dickinson and Company, bioMérieux SA, and DiaSorin Molecular LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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