Global respiratory syncytial virus diagnostic market is expected to register exponential growth over the coming seven years due to increasing incidence rate of childhood pneumonia. Also, unhygienic environment conditions and crowded areas are further anticipated to lead to RSV (Respiratory Syncytial Virus) infection thus driving the demand for RSV diagnostic tests over the forecast period. As per report published by the WHO (World Health Organization) in 2010, over 1.1 million people were diagnosed with pneumonia which are further anticipated to grow thereby fueling the growth of RSV diagnostic tests market in near future.
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The global respiratory syncytial virus diagnostic market is segmented on the basis of technology and end use. By technology, the market is further sub segmented into diagnostic imaging, flow cytometry, immunoassays, monoclonal antibodies, chromatography, gel microdroplets and molecular diagnostics. The diagnostic imaging market is expected to witness lucrative growth over the forecast period owing to rising adoption of cost effective diagnostic procedures and incidences of respiratory disorders. By end use, the market includes nursing homes, clinical laboratories, hospitals and physician offices. Regionally, North America held the largest growth share due to favourable government policies, growing prevalence of respiratory syncytial virus and increasing usage of technically advanced diagnostic procedures in this region. European countries are anticipated to register rapid growth in near future owing to increasing geriatric population base and awareness about various diagnostic procedures. Similarly, Asia pacific region is expected to witness fastest growth over the forecast period due to increasing prevalence of bronchitis & pneumonia and rising disposable income in this region. Also, increasing healthcare awareness and improved healthcare infrastructure is expected to result in speedy market growth in Latin American region.
The key players operating in global respiratory syncytial virus diagnostic market are DiaSorin SPA, Abbott Laboratories, Ortho Clinical Diagnostics, Bio Rad Laboratories Inc., EMD Millipore, Thermo Fisher Scientific Corporation, BioMerieux, Novartis Diagnostics, Becton Dickinson &Company, Hoffman La Roche Ltd. and Beckman Coulter. The companies are adopting sustainability strategies such as collaborations, research alliances and product modification to increase their market penetration. For example, Becton Dickinson & Co. acquired Alverix in 2014, in manufacturing Veritor System to gain presence in point of care diagnostics. The Veritor System gives comprehensive results to healthcare professionals in much less time frame of about 10 to 15 minutes by employing exhaustive advanced read technology equipped with improved particle and compact reader.
Information Source: Grand View Research