Influenza Diagnostics Market is valued at USD 598.28 Million in 2020 and expected to reach USD 973.35 Million by 2027 with the CAGR of 7.20% over the forecast period.
Increasing prevalence of infectious diseases, seasonal influenza and the growing research and development activities are some of the major factors driving the growth of Global Influenza Diagnostics Market.
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Scope of Global Influenza Diagnostics Market Report-
Influenza is an acute respiratory tract infection (ARTI) also known as flu with a nurture period ranging from 1 to 4 days. It is an infectious disease caused by the influenza virus. Seasonal influenza is an acute respiratory tract infection caused by influenza viruses which circulate altogether parts of the globe. There are four types of seasonal influenza viruses, types A, B, C and D. Among all, Influenza A and B viruses circulate and cause seasonal epidemics of disease. Influenza spreads through infectious respiratory secretions caused by aerosol formation due to direct contact with an infected person. These viruses can often causing morbidity, mortality and significant economic and social impact on communities. Influenza viruses infect the upper respiratory tract including nose, throat and bronchi and rarely, the lungs.
Key Players of Influenza Diagnostics Market –
Influenza diagnostics market report covers prominent players are Roche Diagnostics, Princeton BioMedtech corp, Meridian Bioscience, Inc, Becton Dickinson and Company Sekisui Diagnostics, Thermo Fisher Scientific. SA Scientific, Inc, Alere Scarborough, Inc, Quidel Corporation and others.
Global Influenza Diagnostics Market Segmentation:–
By Test Type:
- Reverse transcription polymerase chain reaction (RT-PCR)
- Rapid Antigen Testing
- Cell Culture
- Others (Immunofluorescence & Serology)
- Research Centers
- Diagnostic Laboratories
- Point of care testing centres (POCT)
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Alere Received FDA Clearance for Alere i Influenza A & B 2 Rapid Molecular Test
October 2nd, 2017; Alere Inc., announced the clearance from the U.S. Food and Drug Administration (FDA) to Alere i Influenza A & B 2 test for the detection of influenza A and B infection in children and adults. This test delivers lab accurate results in less time, with the ability to report a positive result in as little as 5 minutes. Further, Alere i Influenza A & B 2 will provide greater convenience with the addition of room temperature storage and reduced warm-up time for transport media samples. It also offers increased sample flexibility with nasopharyngeal swabs now validated for direct use, as well as, in transport media.
Global Influenza Diagnostics Market Dynamics–
Increasing prevalence of infectious diseases, seasonal influenza and the growing amount of research and development activities in this field are some of the major factors contributing to the revenue growth of the global influenza diagnostics market across the world. According to report by NCBI, the World Health Organization (WHO) estimates that approximately one billion people are infected and up to 500,000 people die from influenza each year in the world. Influenza is measured to be the greatest killer of the human populations. According to WHO, these annual epidemics were estimated to result in about 3 to 5 million cases of severe illness and about 290 000 to 650,000 respiratory deaths worldwide. In addition, growing awareness about the influenza globally is expected to further foster the growth of the global influenza diagnostics market over the forecast period. According to World Health Organization statistics, 1.4 million people worldwide suffer from infections acquired in hospitals.
However, increasing prices of diagnostic kits and reagents may hamper the growth of influenza diagnostics market. In spite of that, technological advancements in healthcare sectors and increasing government initiatives and collaboration with market players for raising awareness regarding the innovative and more effective faster, accurate and cost-effective diagnosis for disease will create wide opportunities for the players operating in the influenza diagnostics market during forecast period.
Global Influenza Diagnostics Market Regional Analysis–
North America is expected to dominate influenza diagnostics market with the potential rate due to technological advancements, favourable government initiatives to control the disease rates, increase in number of research collaborations and increaseing infectious diseases like seasonal flu and pandemic influenza in this region. The U.S. Centers for Disease Control (CDC) found between about 6 million and 7 million people with flu cases in the U.S. in 2019. According to The Centers for Disease Control and Prevention, around 15.5 million number of visits to physician offices with infectious and parasitic diseases as the primary diagnosis in the United States. As per National Center for Biotechnology Information (NCBI), more than 18 million people work in the healthcare field in the United States. In addition, increasing number of players entering the influenza diagnostics market with quality product offerings is also supplementing the market growth. As per CDC, influenza testing across the United States may be higher than normal at this time of year because of the COVID-19 pandemic.
Europe is the second largest market for influenza diagnostics and is growing due to increased growth in research and development activities as well as rapidly spreading infectious disease in this region. For instance; WHO-Europe, in March 2020, approximately infected cases 171,874 and deaths 8,744 in this region. According to NCBI, around 10 million individuals aged 65 years and older are at risk of contracting influenza, and it can be estimated that the lack of a vaccination strategy would lead to more than 2 million cases and about 30,000 deaths in Italy. And the demand of the influenza diagnostics will accelerate due rapidly increasing infections during forecast period.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to the increase in healthcare expenditure, rising awareness about infectious diseases, higher rate of population, rising initiatives by government bodies to control the disease rate and increasing number of hospitals & laboratories. China has witnessed increasing prevalence of infectious diseases. For example, according to WHO-China, China reported 2478 new cases of COVID-19. Due to these factors Asia Pacific market would be a fruitful investment for the influenza diagnostics market contributors. Additionally, favorable government initiatives and increase in number of research collaborations are some of the drivers expected to accelerate the market growth.
By Regional & Country Analysis:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of the market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are the main factors responsible for new product launches?
- How big are the global & regional markets in terms of revenue, sales, and production?
- How far will the market grow in the forecast period in terms of revenue, sales, and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
Key Benefits for Global Influenza Diagnostics Market Report–
- Global influenza diagnostics Market report covers in depth historical and forecast analysis.
- Global influenza diagnostics Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global influenza diagnostics Market report helps to identify opportunities in market place.
- Global influenza diagnostics Market report covers extensive analysis of emerging trends and competitive landscape.
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