The growing incidence of influenza and the increasing need for rapid and accurate testing is propelling the market demand.
Market Size – USD 657.2 Million in 2019, Market Growth – CAGR of 7.7%, Market Trends – Emergence of advanced technologies.
The Global Influenza Diagnostics Market is expected to be valued at USD 1.15 Billion in 2027 from USD 657.2 Million in 2019, registering a CAGR of 7.7% through the forecast period. The industry is expanding owing to the increasing cases of influenza worldwide. The rising population, combined with the growing prevalence of several chronic diseases, is augmenting the industry’s demand. Rapid emergence of various modern technologies, fast development in therapies, and the increasing funding in R&D for influenza diagnostics are further triggering demand in the sector.
The overall expense in healthcare is rising day by day, and approval for new diagnostic tests is a complex regulatory framework which is time consuming. Such factors are restricting the sector’s growth. The influenza is affecting many people in different forms with increased intensity.
The ongoing pandemic and the global response to COVID-19 have compelled numerous companies in rethinking their strategies to operate in the market. The sudden disease hit has forced governments across the globe to highly invest in the therapies’ research. The industry for influenza is observing an enormous demand for modern diagnostic method as well as vaccines that are being tested to bring a solution in this pandemic scenario.
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Further key findings from the report suggest
- RIDTs or rapid influenza diagnostic tests are the most common test performed for checking if any patient is influenza-positive. These tests are getting popular, as they bring results in 15 minutes. Moreover, influenza tests are also cost-effective.
- The virus of type A flu is capable of infecting many animals, although it is extremely common for people suffering from the disease associated with this flu. Many wild birds carry this virus by acting as a host. This virus is highly responsible for many flu-related epidemics. The segment contributed to the market with a 39.6% share in 2019.
- The hospitals sub-segment is experiencing a steadfast growth, for being the largest end users in the industry. The disease treatment is done especially in the hospitals due to its various technologically advanced products. The segment held the highest industry share of 41.9% in 2019.
- Leading players in the sector are Hologic Inc., Diasorin SA, Thermo Fisher Scientific Inc., Meridian Bioscience, Becton Dickinson Company, Siemens Healthineers, Danaher Corporation, F. Hoffmann-La Roche AG, Genmark Diagnostics, Inc., and Luminex Corporation.
Influenza Diagnostics Market Size and Demand By Flu Type (Type A, Type B, And Type C), By Test Type (Traditional Diagnostic Tests, And Molecular Diagnostic Tests), And By End Use (Hospitals, Clinical Laboratories, And Point of Care Testing), And Segment Forecasts, 2017-2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/influenza-diagnostics-market
For the purpose of this report, Reports and Data has segmented the Global Influenza Diagnostics Market on the basis of flu type, test type, end-use, and region:
Flu Type Outlook (Revenue, USD Million; 2017-2027)
- Type A
- Type B
- Type C
Test Type Outlook (Revenue, USD Million; 2017-2027)
- Traditional Diagnostic Tests
- Molecular Diagnostic Tests
End-Use Outlook (Revenue, USD Million; 2017-2027)
- Clinical Laboratories
- Point of Care Testing
Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Influenza Diagnostics Market Segmentation & Impact Analysis
4.1. Influenza Diagnostics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Increase in geriatric population
220.127.116.11. Growing government initiatives to control influenza
18.104.22.168. Emergence of advanced technologies for testing
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