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The Poc Rsv Testing Market will register a CAGR of more than 7% by 2022

The Poc Rsv Testing Market will register a CAGR of more than 7% by 2022

PR Newswire

NEW YORK, Dec. 4, 2018

NEW YORK, Dec. 4, 2018 /PRNewswire/ -- 107 pages, November 2018

About this market
The growing need for company diagnostics is expected to drive growth in the market. Companion diagnostics are necessary to understand the need of the patient and give personalized medicine. This practice has been trending recently and will thus become a good opportunity to penetrate POC products in the market. Technavio's analysts have predicted that the POC RSV testing market will register a CAGR of more than 7% by 2022.

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Market Overview
Increase in the incidence and prevalence of RSV infections
The incidence rate of RSV has been high across the globe owing to the ever-increasing air pollution and offsets of the seasons, thus leading to temperature imbalances in the environment. In the US, RSV infections lead to the hospitalization of more than 57,000 patients and two million outpatient visits every year among children below five years.
Product recalls
When products lead to patient injury or fatalities, manufacturers either voluntarily recall them from the market, or regulatory authorities suspend the sales of the faulty devices. Product recalls affect the sales and earnings of a vendor.
For the detailed list of factors that will drive and challenge the growth of the POC RSV testing market during the 2019-2023, view our report.

Competitive Landscape
With the presence of several companies including Abbott and BD, the competitive environment is quite intense. Factors such as the rising demand for POC RSV testing, especially from the developing countries and the expansion of aircraft manufacturing facilities, will provide considerable growth opportunities to POC RSV testing manufactures. Abbott, BD, F. Hoffmann-La Roche, Thermo Fisher Scientific, and bioMérieux are some of the major companies covered in this report.

'With the presence of a considerable number of companies, this market appears to be fragmented. Several POC RSV testing companies are focused on initiating various M&A strategies to develop and market POC products to meet the high volume of demand from across the globe.'

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Last Updated: 04-Dec-2018