Respiratory Syncytial Virus (RSV) Diagnostic Market Size

Respiratory Syncytial Virus (RSV) Diagnostic Market Analysis

The respiratory syncytial virus (RSV) diagnostic market is expected to register a significant CAGR of 10.1% during the study period.

• Although COVID-19 led to a shortage in essential diagnostic tests during the early pandemic, multiplex diagnostics have played an important role in providing quick results for COVID-19 diagnostics. However, the launch of products is propelling the growth of the market. For instance, in February 2022, Avellino Labs USA Inc. launched AvellinoCoV2 - Respiratory Test, a multi-panel RT-PCR-based virus assay that accurately detects four viral infections in one patient sample - COVID-19, respiratory syncytial virus (RSV), influenza A and influenza B. Thus, COVID-19 has slightly declined during the early pandemic due to lockdown restrictions. However, the market was positively impacted during the late pandemic due to a rise in testing for RSV and saw a significant surge post-pandemic due to the launch of new tests, and it is expected to boost the market's growth over the period.
• The factors propelling the studied market growth are the growing burden of respiratory syncytial virus infections globally, rise in investments, technological advancements in the development of RSV diagnostic tests, product approvals and launches, and other key strategies adopted by the market players.
• According to the Center for Disease Control and Prevention (CDC) update in July 2023, the overall rate of RSV-associated hospitalizations was 50.9 per 100,000 people in the United States in the 2022-2023 season. Such a huge rate of hospitalization is anticipated to increase the adoption of testing for RSV infections, driving the market growth.
• The launch of products for the effective diagnosis of RSV infections is expected to boost the studied market growth due to the increased availability of products in the market. For instance, in November 2021, QIAGEN launched the QIAstat-Dx Respiratory 4 Plex Flu A-B/RSV/SARS-CoV-2 test for the QIAstat-Dx system to quickly identify whether patients have common seasonal respiratory infections or SARS-CoV-2. Additionally, in September 2021, Roche launched three molecular polymerase chain reaction (PCR) diagnostic test panels to detect and differentiate common respiratory pathogens at the same time, which include influenza A, influenza B, and respiratory syncytial virus (RSV); adenovirus (ADV), human metapneumovirus (hMPV) and enterovirus/rhinovirus (EV/RV); and parainfluenza 1, 2, 3 and 4.
• Moreover, key initiatives adopted by key market players are expected to propel market growth significantly. In February 2022, Seegene Inc. signed a supply deal with the Ministry of Health of Brazil to deliver four million Allplex SARS-CoV-2/FluA/FluB/RSV Assay, capable of identifying respiratory viruses, including COVID-19, Flu A/B as well as RSV in a single test. Such steps will boost the studied market growth during the study period due to the rise in adoption.
• Therefore, owing to factors such as the rising incidence of RSV and key initiatives adopted by the market players, the studied market is expected to grow significantly during the study period. However, strict regulatory norms and low detection limits of immunoassays are expected to hinder the market growth during the study period.