RSV Diagnostics Market to Project CAGR above 10% by 2024A Chapter by David JonesRSV Diagnostics Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa ResearchThe worldwide respiratory
syncytial virus diagnostics market is poised to grow at a CAGR exceeding 10%
over the forecast period (2016 to 2024). It stood at USD 625 million in 2015.
High prevalence of neonatal infections & viral diseases and the need for
early RSV detection mechanisms for infants are key drivers of this industry.
Respiratory syncytial virus harms the respiratory tract, the immune system, the
heart, and lungs; thus leading to serious illnesses. It mainly affects infants
in the age group of 0 to 11 months.
However, there are instances of
people above the age of 60 years being afflicted by this virus. This is
essentially because of weak immunity. Some patients may even need
hospitalization. Clinical symptoms of the RSV infection can seldom be
distinguished from the symptoms of other respiratory disorders. Hence, there is
a pressing need to develop precise & accurate diagnostic solutions for such
a disease.
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The global RSV Diagnostics market is categorized on the basis of products, end use, and regions. On the basis of products, the segments are DFA (direct fluorescence antibody) method, RADTs (rapid antigen diagnostic tests), flow cytometry, molecular diagnostics, gel microdroplets, diagnostic imaging, chromatographic immunoassay, and others. Due to high accuracy & precision, the molecular diagnostics segment may lead the overall industry during the forecast period.
Based on end uses, the industry is divided into
clinics, hospitals, homecare, and laboratory. Hospitals held the largest share
in 2015. It is expected that this segment will continue dominating the RSV
Diagnostics market because of high hospitalization rate of RSV infected
patients. “Homecare” too may expand significantly in the forthcoming years
because of high demand for perinatal & in-house testing. Surging popularity
of homecare services owes to high governmental investments in training programs
for the same.
Geographically, the global Respiratory Syncytial Virus
Diagnostics Market is segmented into Latin America, Europe, North America, Asia
Pacific, and the Middle East & Africa. With a market share surpassing 45%,
North America led the industry in 2015. This region is propelled by high incidence
of respiratory tract infections. Governmental initiatives, such as PAHO (Pan
American Health Organization) may significantly contribute to market demand
over the next couple of years. As per this initiative, it is absolutely
necessary to rule out the possibilities of infections & metabolic defects
in newborns.
Asia Pacific may register a high growth rate from 2016
to 2024. High incidence of infectious diseases fueled by moderate to poor
living conditions propels this regional market. Other factors that may drive
this region are improved healthcare infrastructure, high R&D funding,
favorable government mandates, and steady technological advancements. Prominent
vendors in the worldwide industry are Thermo Fisher Scientific Inc.; Ortho
Clinical Diagnostics; Abbott Laboratories; Roche Diagnostics; and Quest
Diagnostics.
In 2016, Luminex Corporation, a U.S. based
biotechnology company received U.S. FDA (Food and Drug Administration) approval
for its ARIES Flu A/B & RSV Assay. This device helps detect three main
respiratory pathogens namely, RSV and influenza A & B viruses. It delivers
results within two hours. Furthermore, it is equipped with a panel
customization feature that gives it the ability to report the required results
only.
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StatsAuthorDavid Jonescalifornia, CAAboutResearch Analyst At Hexa Research Which Provides Research Content For All Types Of Domains do check my Articles more..Writing
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