Global Influenza Diagnostics Market By Test Type (Traditional Diagnostics Tests and Molecular Diagnostic Tests); By End-User (Hospitals, Clinical Laboratories, Research Centers, Point of Care Testing Centers and Other End User); By Type of Flu (Type A, Type B and Type C); and Region - Analysis of Market Size, Share & Trends for 2018 - 2020 and Forecasts to 2030
Influenza Diagnostics Market is expected to reach USD 3.4 billion by 2030 from USD 2 billion in 2021, at a CAGR of 6.10 percent over the forecast period.
Influenza is an infectious disease caused by the influenza virus, commonly known as the flu. Humans are affected by three types of this virus: type A, type B, and type C. Influenza spread through contagious respiratory secretions caused by the development of aerosols due to direct contact with an infected person. This virus can cause seasonal epidemics with increased morbidity and mortality levels so it is significant to diagnose such disease at an initial time. Such epidemics have been estimated to result in around 3 to 5 million annual cases of serious sickness, and about 250,000 to 500,000 annual deaths worldwide, according to WHO.
Influenza Diagnostics Market is expected to project a CAGR of 6.10% during the forecast period, 2022-2032
Market growth is mainly driven by factors such as rising influenza occurrence, growth in research funding for influenza diagnosis, and increasing demand for faster diagnosis are the major factors expected to drive this market's growth in the coming years. High-risk influenza populations consist of pregnant women, infants, the elderly, immunosuppressed patients suffering from chronic medical conditions, and health care staff. Influenza treatment consists of different antiviral drugs that help to reduce complications and fatalities like death. In 2009, an influenza A pandemic, which spread rapidly to many nations, attracted scientists' attention to work on improved detection and diagnosis of the virus. Influenza diagnostics consists of several flu tests that are used in respiratory specimens to detect influenza viruses.
RIDT section held the largest share of the influenza diagnostic market for traditional diagnostic tests.
The large proportion of this section can be attributed to the rising adoption of cost-effective and faster RIDT as the first line of diagnosis and screening phase has been increased among end-users. These tests are antigen detection assays that detect influenza viral antigens within 10 to 15 minutes with high specificity. Rapid influenza diagnostic tests can identify the presence of influenza A and B viral antigens in respiratory samples and qualitatively exhibit the result. These tests are antigen detection assays that detect highly specific viral antigens of influenza within 10 to 15 minutes. It is a significant factor responsible for the largest share of the RIDT demand.
The segment of the hospital had dominated the largest share of the diagnostic influenza market in 2019.
The hospital segment is responsible for a substantial share of the diagnostic market for influenza in 2019, influenza disease diagnosis is usually conducted in hospitals because it is complicated and requires technologically advanced products, this is the major factor driving this segment’s growth in increased influenza-related hospitalizations. The hospital provides advanced facilities at an affordable price to conduct proper influenza diagnostic tests.
Rising Population and Government Initiatives
The growing geriatric population, rising government anti-influenza measures, increasing prevalence of chronic diseases such as diabetes, heart and blood disorders, and the emergence of technologically advanced influenza diagnostic tests are some of the key factors driving growth in the market for influenza diagnostics. The geriatric population is vulnerable to a wide variety of diseases because they are immunologically poor to combat illness and are also at significant risk of influenza contracting. Immunosuppressed people and those who suffer from a chronic illness are also vulnerable to the disease. As a result, with a growing number of individuals susceptible to the disease, the demand for influenza diagnostic products has increased fueling growth in the market. Measures and initiatives by government agencies like WHO and CDC to control and prevent influenza are a factor driving the demand for influenza diagnostics. In addition, the increasing amount of research and growth, technological advances in diagnostic testing, and rising demand for diagnosis of influenza are likely to propel this market during the forecast period.
Influenza Virus Mutating and Change in Virus Type
Vaccination is a significant way of immunizing individuals against infectious diseases to prevent severe complications, particularly in immunosuppressed patients and individuals who serve at high risk. Mutation of the virus serotype proves to be a major obstacle, as vaccination becomes difficult to work in such cases, putting the individual at risk of contracting the virus. Thus, with modifications in the type of virus, identifying its presence in patients and prescribing treatment promptly is essential to avoid fatalities. As a result, demand for influenza diagnostics products has risen accelerating the growth of the market for the same.
Lack of Awareness and Healthcare Infrastructure
Most people in underdeveloped countries and remote areas are unaware of the symptoms of this disease or lack adequate healthcare facilities and equipment or infrastructure, making it difficult to even diagnose the disease within a short timespan, as well as increasing the prices of kits and reagents used for influenza diagnosis, may hinder the growth of the market. The existence of a complicated regulatory framework to approve new diagnostic tests and increasing healthcare costs are expected to restrict this market’s growth to some degree in the coming years.
North America accounted for the biggest share of the global diagnostic influenza market in 2019, followed by Europe. North America reported a large market share due to factors such as policy efforts to monitor disease rates, technical advancements, public health education, and research. The growth of the North American market during the forecast period of 2020-2030 is anticipated to be driven by factors such as the increasing incidence rate of influenza and the increasing number of influenza screening tests performed in this area.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis, Siemens Healthineers, Analytik Jena
The Influenza Diagnostics Market size was estimated at USD 2 billion in 2020 and is expected to reach USD 3.4 billion by 2030
Quidel Corporation, Genome Diagnostics, Meridian Bioscience,BioMerieux SA, Sekisui Diagnostics, Response Biomedical, SA Scientific, Enigma Diagnostics, Focus Diagnostics, Other Prominent Players
RIDT section held the largest share segment and The segment of the hospital had dominated the largest share are anticipated to hold the largest Food Service Equipment Market
Drivers: Rising Population and Government Initiatives and Influenza Virus Mutating and Change in Virus Type
Influenza is an infectious disease caused by the influenza virus, commonly known as the flu. Humans are affected by three types of this virus: type A, type B, and type C. Influenza spread through contagious respiratory secretions caused by the development of aerosols due to direct contact with an infected person.
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