Respiratory Syncytial Virus Diagnostics Market Surgeries, Technologies, Industry Trend, Clinical Devices, Advancements and Growth Analysis 2020, Forecast to 2026
Respiratory Syncytial Virus Diagnostics Market – Competitive Landscape
Key players operating in the respiratory syncytial virus diagnostics market include F. Hoffmann La-Roche AG, Becton, Dickinson and Company, Novartis AG, Abbott Laboratories, Ortho Clinical Diagnostics, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., BioMerieux, DiaSorin SPA, Millipore-sigma, Quidel Corporation, Alere Inc., Coris BioConcept, Fast-track Diagnostics, and Quest Diagnostics.
Respiratory syncytial virus (RSV) is responsible for many chronic conditions such as pneumonia, bronchitis, asthma, and respiratory disease. It primarily affects neonates, infants, and adults and is responsible for outpatient visits, hospitalization, and death in some cases. Therefore, diagnosis of RSV-associated diseases is crucial to avoid further medical severity. Symptoms of RSV presence include rhinorrhea, cough, wheeze, respiratory distress, and hypoxemia. Molecular diagnostic is most widely used techniques for diagnosing RSV.
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Respiratory Syncytial Virus Diagnostics Market-Market Dynamics
High prevalence of respiratory infections due to RSV is a major factor that is expected to drive growth of the respiratory syncytial virus diagnostics market. For instance, according to a report by the Lancet, 2017, around 33.1 million episodes of RSV induced acute lower respiratory infections that resulted in around 3·2 million hospitalizations and around 59,600 in-hospital deaths in children younger than 5 years of age, globally, in 2015. Moreover, the report stated that the overall RSV- acute lower respiratory infections- related mortality was around 118,200 in 2015.
Furthermore, high prevalence of several chronic conditions such as pneumonia and other respiratory tract infections due to RSV is a major factor contributing to growth of the market over the forecast period. For instance, according to a report by World Health Organization (WHO), May 2018, chronic obstructive pulmonary disease (COPD) and lower respiratory tract infection are amongst top five chronic diseases with highest mortality rate, worldwide. The report stated that around 3 million each deaths were registered due to COPD and lower respiratory tract infection in 2016, worldwide.
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Respiratory Syncytial Virus Diagnostics Market – Regional Insights
On the basis of region, respiratory syncytial virus diagnostics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the respiratory syncytial virus diagnostics market over the forecast period. For instance, according to a study published in journal American Family Physician in 2017, around 2% to 3% of infants, younger than 12 months are hospitalized with an RSV infection, annually, in the U.S. According to the same source, around 57,500 hospitalizations and 2.1 million outpatient visits are associated with RSV infections in children younger than five years, annually, in the U.S. It can be concluded from epidemiological data that the U.S. has high potential for respiratory syncytial virus diagnostics market. Presence of key players and their products in North America would be another important driver for the market growth.
Asia Pacific and Latin America is expected to exhibit highest CAGR in respiratory syncytial virus diagnostics market. According to study published in the Lancet in September 2017, lower middle income countries witnessed around 43,600 deaths due to RSV-ALRI whereas upper middle income countries witnessed around 17,900 deaths, in 2015.
Furthermore, children in this region often do not receive adequate vaccination, which leads to frequent infection incidences from variety of diseases including RSV. According to World Health Organization (WHO) 2018, worldwide, around 86% of infants are vaccinated against 26 diseases. However, around 19.5 million children remain unvaccinated that leads to around 2-3 million deaths, annually, of which around 90% belong to low and middle income countries.
WHO is running the pilot projects of vaccination in countries of developing regions such Latin America, Africa, and Asia Pacific to achieve100% detection of the RSV infections amongst infants, neonates and children under five years of age. This is expected to reduce the mortality rate and hospitalization from RSV associated acute lower respiratory infections (ALRI). It would also establish RSV diagnostic centers over the forecast period in these regions.
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Moreover, the key players are focused on new product launches to expand their market share.
- In 2016, BD (Becton, Dickinson, and Company) launched its wireless rapid diagnostic system named—Veritor Plus— for detection of respiratory syncytial virus (RSV), influenza A and B, and group A strep with new traceability and secure patient-health record documentation features and functionality.
- In October 2017, Abbott Laboratories completed acquisition of the Alere, Inc. which provides RSV diagnostic system such as ALERE i RSV.
- In May 2019, QIAGEN N.V. received 510 (k) clearance from the U.S. Food and Drug administration (FDA) for its QIAstat-Dx syndromic testing system
- In 2016, BD (Becton, Dickinson, and Company) launched its next-generation wireless rapid diagnostic system Veritor Plus
- In 2017, Abbott Laboratories completed acquisition of the Alere, Inc. which provides RSV diagnostic system such as ALERE i RSV
- In 2016, Abbott Laboratories received the US Food and Drug Administration (FDA) approval and CLIA waivers for its Alere i RSV Rapid Molecular Test and Alere Reader Lateral Flow Assay Analyzer respectively.
- In September 2015, Roche Diagnostics received CLIA from the US Food and Drug Administration (FDA) for detection of flu A/B, RSV, and Strep A using the cobas Liat System. Post the approval the system may be used in pharmacy clinics, hospitals, physician offices, and other healthcare providing facilities.
- In 2014, bioMérieux acquired BioFire Diagnostics Inc., which is a privately held U.S.-based company specialized in manufacturing molecular biology.
Respiratory Syncytial Virus Diagnostics Market – Market Taxonomy
On the basis of diagnostic techniques, the global respiratory syncytial virus diagnostics market is segmented into:
- Molecular Diagnostics
- Direct Fluorescent Antibody (DFA) Method
- Rapid Antigen Diagnostic Test
- Monoclonal Antibodies
- Flow Cytometry
- Diagnostic Imaging
- Immnunochromgraphic Assay
- Gel Microdroplets
On the basis of end-user, the global respiratory syncytial virus diagnostics market is segmented into:
- Diagnostic Centers
- Commercial Radioisotope Manufacturers
On the basis of region, the global respiratory syncytial virus diagnostics market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
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