The global market for Respiratory Syncytial Virus Diagnostic was valued at USD 12.21 billion in 2018 and is projected to reach USD 21.48 billion by the year 2026, registering a Compound Annual Growth Rate (CAGR) of 7.3%. Human respiratory syncytial virus (RSV) typically causes lower respiratory infections, often contracted during hospital visits. Infants and young children, in particular, are more susceptible to RSV infections, impacting the lungs and airways. In premature babies and children with underlying health conditions, RSV infections can affect the heart and immune system, resulting in severe illness. Consequently, early-stage RSV diagnosis is crucial.
As per the CDC, on average, RSV leads to the hospitalization of approximately 132,000 to 172,000 children under the age of five each year, and it causes the death of around 14,000 adults aged 65 and above in the United States alone. This underscores the pressing need for prompt RSV diagnosis.
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Companies considered and profiled in this market study
Biomérieux,
Becton-Dickinson and Company,
- Abbott,
- Roche,
- Danaher,
- Thermo Fisher,
- Biocartis,
- Luminex,
- Hologic,
- Fast Track Diagnostics
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Key Highlights of the Respiratory Syncytial Virus Diagnostic Market Coverage:
- Market Valuation: The global Respiratory Syncytial Virus Diagnostic market, valued at USD 12.21 billion in 2018.
- Projected Growth: Expected to reach USD 21.48 billion by the year 2026, with a Compound Annual Growth Rate (CAGR) of 7.3%.
- Virus Characteristics: Human respiratory syncytial virus (RSV) as a common cause of lower respiratory infections, often contracted during hospital visits.
- Demographic Vulnerability: Increased susceptibility in infants and young children to RSV infections, impacting the lungs and airways.
- Health Implications: Significance of RSV infections in premature babies and children with underlying health conditions, affecting the heart and immune system, leading to severe illness.
- Urgency of Diagnosis: High demand for early-stage RSV diagnosis due to potential serious health implications.
- Epidemiological Insights: According to CDC data, annual hospitalizations of 132,000 to 172,000 children under the age of five due to RSV, with around 14,000 deaths among adults aged 65 and above in the United States alone.
- Market Dynamics: Understanding the market dynamics associated with the diagnosis and management of Respiratory Syncytial Virus.
- Public Health Significance: Recognizing the public health impact and healthcare burden of RSV infections.
- Technological Advances: Exploring advancements and innovations in Respiratory Syncytial Virus diagnostic technologies.
- Market Forecast: Anticipated market trends, developments, and growth prospects in the Respiratory Syncytial Virus Diagnostic segment.
- Global Perspective: Comprehensive coverage of the global market scenario, including regional variations and market trends.
- Strategic Recommendations: Insights and recommendations for stakeholders and industry participants in the Respiratory Syncytial Virus Diagnostic market.
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