Respiratory Syncytial VirusDiagnostics Market - Market Dynamics
High prevalence of respiratoryinfections due to RSV is a major factor driving growth of the RespiratorySyncytial Virus Diagnostics Market. According to a report by the Lancet,2017, around 33•1 million episodes of RSV induced acute lower respiratoryinfections that resulted in around 3•2 million hospitalizations and around59,600 in-hospital deaths in children younger than 5 years of age, worldwide,in 2015. Moreover, the report stated that the overall RSV- acute lowerrespiratory infections- related mortality was around 118200 in 2015.
Furthermore, high prevalence ofseveral chronic conditions such as pneumonia and other respiratory tractinfections due to RSV is a major factor contributing to growth of the marketover the forecast period. For instance, according to a report by World HealthOrganization (WHO), May 2018, chronic obstructive pulmonary disease (COPD) andlower respiratory tract infection are amongst top five chronic diseases withhighest mortality rate, worldwide. The report stated that around 3 million eachdeaths were registered due to COPD and lower respiratory tract infection in2016, worldwide.
Respiratory Syncytial Virus (RSV)is responsible for many chronic conditions such as pneumonia, bronchitis,asthma, and respiratory disease. It primarily affects neonates, infants andadults and is responsible for outpatient visits, hospitalization and death insome 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. Moleculardiagnostic is most widely used techniques for diagnosing RSV.
Respiratory Syncytial VirusDiagnostics Market - Regional Insights
On the basis of Geography,respiratory syncytial virus diagnostics market is segmented into North America,Latin America, Europe, Asia Pacific, Middle East, and Africa. North America isexpected to be dominant in the respiratory syncytial virus diagnostics marketover the forecast period.
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According to study published injournal American Family Physician in 2017, around 2% to 3% of infants, youngerthan 12 months are hospitalized with an RSV infection, annually, in the U.S. Asper same source, Around 57,500 hospitalizations and 2.1 million outpatientvisits are associated with RSV infections in children younger than five years,annually, in the U.S. It can be concluded from epidemiological data that theU.S. has high potential for respiratory syncytial virus diagnostics market.Presence of key players and their products in North America would be another importantdriver for the market growth.
Asia Pacific and Latin Americawould witness highest CAGR in respiratory syncytial virus diagnostics market.According to study published in the Lancet in September 2017, lower middleincome countries witnessed around 43,600 deaths due to RSV-ALRI whereas uppermiddle income countries witnessed around 17900 deaths, in 2015.
Furthermore, children in thisregion often do not receive adequate vaccination, which leads to frequentinfection incidences from variety of diseases including RSV. According to WorldHealth Organization (WHO) 2018, worldwide, around 86% of infants are vaccinatedagainst 26 diseases. However, around 19.5 million children remain unvaccinatedthat leads to around 2-3 million deaths, annually, of which around 90% belongto low and middle income countries.
WHO is running the pilot projectsof vaccination in countries of developing regions such Latin America, Africa,and Asia Pacific to achieve100% detection of the RSV infections amongstinfants, neonates and children under five years of age.This is expected toreduce the mortality rate andhospitalization from RSV associated acute lower respiratory infections (ALRI).It would also establish RSV diagnostic centers over the forecast period inthese regions.
Respiratory Syncytial VirusDiagnostics Market - Competitive Landscape
Key players operating in therespiratory syncytial virus diagnostics market include, F. Hoffmann La-Roche AG, Becton, Dickinson and Company, Novartis AG, Abbott Laboratories, OrthoClinical 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.
Moreover, the key players arefocused on new product launches to expand their market share. For instance.
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In 2016, BD (Becton, Dickinsonand Company) launched its wireless rapid diagnostic system named—Veritor Plus—for detection of respiratory syncytial virus (RSV), influenza A and B, andgroup A strep—with new traceability and secure patient-health recorddocumentation features and functionality.
In October 2017, AbbottLaboratories completed acquisition of the Alere, Inc. which provides RSVdiagnostic system such as ALERE i RSV.
Key Development
In May 2019, QIAGEN N.V. received510 (k) clearance from US Food and Drug administration (FDA) for its QIAstat-Dxsyndromic testing system
In 2016, BD (Becton, Dickinsonand Company) launched its next generation wireless rapid diagnostic systemVeritor Plus.
In 2017, Abbott Laboratoriescompleted acquisition of the Alere, Inc. which provides RSV diagnostic systemsuch as ALERE i RSV.
In 2016, Abbott Laboratoriesreceived the US Food and Drug Administration (FDA) approval and CLIA waiversfor its Alere i RSV Rapid Molecular Test and Alere Reader Lateral Flow AssayAnalyzer respectively.
In September 2015, RocheDiagnostics received CLIA from the US Food and Drug Administration (FDA) fordetection of flu A/B, RSV, and Strep A using the cobas Liat System. Post theapproval the system may be used in pharmacy clinics, hospitals, physicianoffices, and other healthcare providing facilities.
In 2014, bioMérieux acquiredBioFire Diagnostics Inc., which is a privately held U.S.-based companyspecialized in manufacturing molecular biology.
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