(PharmaNewsWire.Com, September 19, 2019 ) According to the new market research report RSV Diagnostics Market is expected to reach USD 929.2 Million by 2022 from USD 574.3 Million in 2017, at a CAGR of 10.1%. Factors driving the growth of this market include the rising burden of RSV infections, growing demand for PoC molecular diagnostic tests for the diagnosis of RSV infections, and increasing approval of RSV diagnostic kits and assays.
The RSV diagnostics market is consolidated in nature due to the presence of a large number of players. The key players in the market are bioMerieux (France), Becton Dickinson (US), Abbott (US), Roche (Switzerland), Danaher (US), Thermo Fisher (US), Luminex (US), BioCartis (Belgium), Hologic (US), and Fast Track Diagnostics (Luxembourg).
Most companies in the RSV diagnostics market adopted agreements, expansions, and product launches as the key business growth strategy. These strategies accounted for the largest share of the overall growth strategies mapped from 2014 to 2017. Some of the leading players who adopted these strategies include bioMerieux (France), Abbott (US), Roche (Switzerland). bioMérieux is a world leader in in vitro diagnostics, molecular diagnostics, and microbiology automation. The company operates through two major business divisions, namely, clinical diagnostics and industrial microbiology.
The company provides healthcare solutions, such as clinical and sepsis solutions; industrial solutions, including food, biopharma, cosmetics and personal care, blood banks, and veterinary solutions; and total service solutions in the areas of laboratory workflow efficiency. It offers RSV diagnostic products through its clinical diagnostics division. The company focuses on product launches and acquisitions to enhance its presence in the market. For instance, bioMérieux commercialized its FilmArray multiplex PCR system in 2015. The company also adopts inorganic growth strategies to strengthen its position in the market. For instance, the company acquired BioFire Diagnostics (US) in 2014.
Abbott discovers, develops, manufactures, and markets nutritional, diagnostic, pharmaceutical, and vascular and diagnostic products. The company operates through four segments—Established Pharmaceuticals, Nutritionals, Diagnostics, and Vascular Products. Abbott Diagnostics offers a wide range of immunoassays and molecular diagnostic products in a range of automation and point of care devices. The company adopts inorganic and organic growth strategies in order to strengthen its position in the market. For instance, in 2016, the company received the US FDA and CLIA waivers for its Alere i RSV Rapid Molecular Test and Alere Reader Lateral Flow Assay Analyzer. Similarly, in 2017, the company acquired Alere Medical (US). Also in 2016, the company opened its diagnostics manufacturing facility in India.
Roche provides in vitro diagnostic products and drugs for cancer and transplantation. The company provides medicines for oncology, virology, inflammation, metabolism, CNS, clinical chemistry, immunology, urinalysis, blood screening, genetics, infectious diseases, and microbiology. Roche Molecular Diagnostics is a pioneer in in vitro diagnostics and personalized healthcare and offers a vast product portfolio in the fields of oncology, virology, blood screening, HPV, CT/NG, genomics, and microbiology. The company also offers RSV diagnostic products through its Diagnostics division. The company mainly focuses on organic strategies in order to strengthen its position in the market. For instance, in 2017, the company launched the cobas Liat PCR System and RSV Assays.
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