Respiratory Syncytial Virus Diagnostics Market Size to Grow by $ 585.17 mn During 2020-2024

Technavio has been monitoring the respiratory syncytial virus diagnostics market and it is expected to grow by $ 585.17 mn, accelerating at a CAGR of almost 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Respiratory Syncytial Virus Diagnostics Market: North America to lead market growth during the forecast period

• 37% of the market growth will originate from North America during the forecast period.
• Technological advancements will be a key trend that will influence market growth significantly.
• The Increase in product launches will be a significant factor in driving the growth of the respiratory syncytial virus diagnostics market.

Respiratory Syncytial Virus Diagnostics Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Becton, Dickinson and Co., bioMérieux SA, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Quidel Corp., Seegene Inc., and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Respiratory Syncytial Virus Diagnostics Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive respiratory syncytial virus diagnostics market growth during the next five years
• Precise estimation of the respiratory syncytial virus diagnostics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the respiratory syncytial virus diagnostics market industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of respiratory syncytial virus diagnostics market vendors

The Global Respiratory Syncytial Virus (RSV) Diagnostics Market is expected to grow by USD 585.17 million, accelerating at a CAGR of almost 10% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report

Respiratory Syncytial Virus Diagnostics Market: Segmentation by Product

The consumables segment dominated the Global Respiratory Syncytial Virus Diagnostics Market in recent years.  Companies are launching assays, which can differentiate between various disease-causing pathogens. For instance, in September 2019, Sekisui Chemical Co. Ltd. (Sekisui) launched the Silaris RSV Test that is an assay for its molecular, point-of-care system. Many companies are collaborating to develop and launch such molecular tests for RSV. These factors are supporting market growth by the consumables segment. The market share the consumables segment will witness rapid growth over the forecast period whic will be faster than the systems segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the respiratory syncytial virus diagnostics market size.

Covid-19 and RSV are two kinds of respiratory illnesses that have some similar symptoms. So far, the new coronavirus appears to be more dangerous for adults, especially older ones. The COVID-19 pandemic is also anticipated to boost the demand for RSV diagnostics. The testing kits used for RSV are being used for testing of COVID-19. The US FDA has approved several RSV testing systems and products for testing COVID-19. The increasing number of patients diagnosed with COVID-19 across the globe is expected to drive the RSV diagnosis market growth during the forecast period.

Respiratory Syncytial Virus Diagnostics Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Becton, Dickinson and Co., bioMérieux SA, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Quidel Corp., Seegene Inc., and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.