Global respiratory syncytial virus diagnostics (RSV) market had value around $ 567 million in 2014 and is anticipated to reach at 9.6% CAGR over the forecast period. The major drive to the market is occurrence of viral illness, rising requirement to diagnose infants in such conditions, and increasing infant population.
As per the global population scale, there were more than 88 billion births in 2015, which makes more than 250 births/ minute. More than 2.8 million neonates die in the first month itself owing to lack of screening and infection in these conditions.
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As per WHO, roughly each child below the age of two has been infected by respiratory syncytial virus. Sometimes, even persons above 60 get infected owing to immunity problems and might also need hospitalization. The market is divided into products, end-users, and regions. The major products are molecular diagnostics, gel microdroplets, Rapid Antigen Diagnostic Tests, Direct Fluorescence Antibody, flow cytometry, chromatographic immunoassay, and molecular diagnostics.
The molecular diagnostics section ruled the RSV diagnostics market in 2014, which is due to more accurate methods of molecule than other ones. Besides, proteomics & genomics growth research is estimated to crush new molecular methods for transferable disease analysis.
RADTs are expected to observer profitable increase at CAGR more than 10.0% in the future. RADTs can be executed at Point of Care and instant report is able to be acquired, hence the time of decision reduces.
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Hospitals, homecare, diagnostic laboratories, and clinics are the end-users for RSV diagnostics market. Hospital dominated the market with more than 35% share in 2014. RSV infected person needs to be hospitalized as it needs full time observation and care, encouraging the end-user.
Home care is anticipated to show remarkable growth in future due to increasing requirement for in-house and perinatal testing. Increasing healthcare expenditure and teaching given by government is assisting advanced acceptance of services through homecare.
North America had more than 40% share dominating the market in 2014. Rising occurrence of respiratory infections and healthcare agencies & government’s supportive initiatives like Pan American Health Organization to permissive screening of infant for metabolic disorders & crucial infections are predicted to boost the RSV diagnostics market.Asia Pacific is expected the fastest expansion for the RSV diagnostics market in the future.
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