The respiratory syncytial virus (RSV) diagnostics market size was valued at USD 567.1 million in 2014 and is expected to grow at a CAGR of 9.6% over the next seven years. Key drivers of the market include increasing prevalence of viral infectious diseases, rising neonatal population, and increasing demand for diagnosis of infants for such conditions.
According to the world population meter, over 88 billion births were reported in 2015 globally, resulting in over 250 births per minute. Of these, over 2.8 million babies die within the first month due to infection and lack of neonatal screening for such conditions.
As indicated by the WHO statistics, almost every child is infected with Respiratory Syncytial Virus by the time they turn two. In certain cases, adults over the age of 60 are infected due to reduced immunity and may require hospitalization.
The incidences of RSV infection are most prevalent in infants between the age group of 0 and 11 months, as per Meta-Analysis Publication 2014. RSV infection in Latin America accounts for nearly 41% of lower respiratory tract infection in the above-mentioned demographics and 12.6% among elderly people.
North America RSV diagnostics market share, by product, 2012-2022 (USD Million)
Key products analyzed in the study are Direct Fluorescence Antibody (DFA), molecular diagnostics, Rapid Antigen Diagnostic Tests (RADTs), molecular diagnostics, gel microdroplets, flow cytometry, chromatographic immunoassay, diagnostic imaging, and others.
Molecular diagnostics segment dominated the RSV diagnostics market in 2014, which can be attributed to increased accuracy of molecular methods over other methods. Moreover, growth in genomics and proteomics research is expected to roll out new molecular methods for infectious disease diagnosis.
RADTs are anticipated to witness lucrative growth at a CAGR above 10.0% over the forecast period. RADTs can be performed at Point of Care (PoC) and immediate results can be obtained, thus reducing the clinical decision time.
Continuous R&D efforts are being carried out in the industry, in an attempt to provide patients with high performing, cost-effective, and rapid diagnostic devices. A few new technologies being worked upon include quantum dots, surface enhanced Raman spectroscopy, and loop-mediated isothermal amplification, which are expected to be commercially available over the forecast period.
End-users for Respiratory Syncytial Virus diagnostics industry include hospitals, clinics, homecare, and diagnostic laboratories. Hospitals dominated the industry in 2014 with over 35.0% of the share. RSV infection requires controlled care and round-the-clock monitoring, which can be achieved in a hospital setting, thereby promoting hospitalization.
Home care is predicted to witness striking growth over the forecast period owing to rising demand for perinatal and in-house testing. Rising healthcare spending and training provided by governments of various countries have been facilitating higher adoption of homecare services.
In September 2015, Roche Diagnostics received CLIA waiver from the U.S. 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, physicians’ offices, and other healthcare providing facilities.
North America dominated the Respiratory Syncytial Virus diagnostics market in 2014 with over 40.0% share. Increasing incidences of respiratory infections and supportive initiatives by government and healthcare agencies such as Pan American Health Organization (PAHO) to mandate screening of newborns for crucial infections and metabolic disorders are anticipated to propel the RSV diagnostics market within the region.
According to the CDC, rising volume of hospitalization due to RSV infection that may lead to mortality is being observed within American regions, thereby propelling the need for early diagnosis.
Asia Pacific is anticipated to witness the fastest growth for the Respiratory Syncytial Virus diagnostic industry over the forecast period. Owing to the moderate standards of living, prevalence of infectious diseases is comparatively high in the countries of this continent, which demands for better diagnostic and treatment options.
Competitive Market Share Insights
The key players of the Respiratory Syncytial Virus diagnostics market include Ortho Clinical Diagnostics, Roche Diagnostics, Thermo Fisher Scientific Inc., Abbott Laboratories, Becton Dickinson and Company, EMD Millipore, Coris BioConcept, Quest Diagnostics, Alere Inc., and others.
The dominant players are focusing over development of Point-of-Care testing devices to process faster results. DiaSorin SPA has listed two new products for diagnosis in their pipeline list of 2015. One of these will specifically test for respiratory syncytial virus while the other is expected to conduct a virus assay panel testing for infections caused due to parainfluenza 1, 2, 3, influenza A and B, and RSV.
Strategic tie-ups and horizontal integration within the value chain by the players are expected to be the trends followed in 2014, allowing for increased R&D activities, economic products, and faster time to market.
In November 2015, Merck KGaA coupled together Sigma-Aldrich with EMD Millipore post its acquisition to help expand and complement the product portfolio of EMD Millipore. The complementary diagnostic product portfolio and similar capabilities in innovation are expected to expand the diagnostic capabilities of the company.
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