RESPIRATORY SYNCYTIAL VIRUS DIAGNOSTICS MARKET ANALYSIS

Respiratory Syncytial Virus Diagnostics MarketSize and Trends

Respiratory Syncytial Virus Diagnostics Market - Market Dynamics

High prevalence of respiratory infections due to RSV is a major factor driving growth of the respiratory syncytial virus diagnostics market. 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, worldwide, in 2015. Moreover, the report stated that the overall RSV- acute lower respiratory infections- related mortality was around 118200 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.

• 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.