The report "Influenza Diagnostics Market in terms of revenue was estimated to be worth $0.8 billion in 2021 and is poised to grow at a CAGR of 7.7% from 2021 to 2026.
The new edition of the report provides the market size and forecast for each region along with their respective countries. The new edition of the report includes the product segmentation of the market. Market growth is driven by rising demand for rapid disease diagnosis, the increasing prevalence of influenza, and growth in influenza research for diagnostic technologies. Recent developments in this field have led to significant improvements in the global market that have enabled the increased use of influenza diagnostic tests. Influenza diagnostics has also advanced in terms of the variety of tests available, including viral culture tests, serology tests, rapid antigen testing (RT-PCR), and others. Influenza diagnostic tests, earlier used by large hospitals and diagnostic centers, have now become a potentially transformative diagnostic tool for influenza even for small-scale clinics and are also used by the research industries. This shift is primarily driven by rapid improvements in diagnostic technologies.
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Browse in-depth TOC on "Influenza Diagnostics Market”
154 – Tables
41 – Figures
193 – Pages
The major players operating in this market are Danaher Corporation (US), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (US), F. Hoffmann-LA Roche AG (Switzerland), Abbott Laboratories, Inc. (Us), Hologic, Inc. (US), bioMérieux SA (France), Quidel Corporation (US), Becton, Dickinson and Company (US), Meridian Bioscience (US), GenMark Diagnostics, Inc. (US), Luminex Corporation (US), Tecanclinica Trading AG (Switzerland), DiaSorin SA (Italy), altona Diagnostics GmbH (Germany), SEKISUI Diagnostics (US), SA Scientific Ltd. (US), Coris BioConcept SPRL (Belgium), ELITech Group (France), Mast Group Ltd. (UK), Genome Diagnostics, Pvt. Ltd. (India), Germaine Laboratories, Inc. (US), Response Biomedical Corp. (Canada). Tauns Laboratories, Inc. (Japan) and 3B BlackBio Biotech India Ltd. (India).
Driver: Growth in influenza research for diagnostic technologies
The rising prevalence of influenza across the globe has increased RD efforts towards its effective detection and diagnosis. Most research activity focuses on developing faster and more accurate diagnostic solutions for influenza viruses leading to market growth. National Institute of Allergy and Infectious Diseases (NIAID), a part of the US NIH, initiated the Collaborative Influenza Vaccine Innovation Centers (CIVICs) program to support a broad portfolio of influenza research activities. NIAID announced funding of USD 51 million for CIVICs.
Opportunities: Advancements in genomic and proteomic technologies
The Human Genome Project and advances in molecular and biomedical technologies have generated a vast amount of data, which has resulted in the development of a multitude of assays and technologies useful for the diagnosis and management of influenza infections. These new technologies, based on genomic techniques (such as PCR-based) and proteomics (such as microarray-based detection), help discover new influenza viruses. They also enable better surveillance and rapid diagnosis of infectious diseases, which serves as an opportunity for the market.
Restraints: Variabilities in test sensitivity and specificity
Sensitivity and specificity are the major factors that impact the results of influenza diagnostic tests. The antigenic variation of influenza viruses is the main reason behind the complexity of these tests. As a result, there are variabilities in the sensitivity and specificity of influenza diagnostic tests, which can impact the final test results. Due to this factor, false-negative results are more common than false-positive results, especially during peak influenza season, which is a major factor restraining the growth of the influenza diagnostics market. Recently, the FDA cleared rapid influenza diagnostic tests (RIDTs).
Challenges: Stringent regulatory framework
A major challenge that most diagnostic companies face in commercialising their tests is getting Medicare and private health insurers to pay for them. This is important not only to help the decision-making process of physicians within the practise of evidence-based medicine but also to achieve regulatory approvals and reimbursements for the tests. Regulatory approvals for influenza tests have become more stringent in recent years to ensure their efficiency in detecting all types of influenza viruses.
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North America is the largest regional market for influenza diagnostics market
The global influenza diagnostics market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East Africa. In 2020, North America accounted for the largest share of the influenza diagnostics market. The large share of this region can be attributed to growth in influenza research for diagnostic technologies and rising demand for rapid disease diagnosis.
TABLE OF CONTENTS:
1 INTRODUCTION (Page No. - 28)
- OBJECTIVES OF THE STUDY
- MARKET DEFINITION
- RESEARCH METHODOLOGY (Page No. - 34)
- RESEARCH DATA
- RESEARCH APPROACH
- MARKET SIZE ESTIMATION
- MARKET BREAKDOWN DATA TRIANGULATION
- ASSUMPTIONS FOR THE STUDY
- GROWTH RATE ASSUMPTIONS
- EXECUTIVE SUMMARY (Page No. - 47)
- PREMIUM INSIGHTS (Page No. - 50)
- INFLUENZA DIAGNOSTICS MARKET OVERVIEW
- GLOBAL MARKET SHARE, BY PRODUCT, 2021 VS. 2026
- GLOBAL MARKET SHARE, BY TEST TYPE, 2021 VS. 2026
- MARKET OVERVIEW (Page No. - 53)
- MARKET DYNAMIC
- INFLUENZA DIAGNOSTICS MARKET, BY PRODUCT (Page No. - 70)
Report Link: Influenza Diagnostics Market
- In May 2021 Becton, Dickinson and Company (US) received FDA approval for the BD Veritor Plus System, which is used to detect SARS-CoV-2, influenza A, and influenza B.
- In March 2021, Abbott Laboratories, Inc. (US) received emergency use authorization (EUA) from the FDA for a laboratory PCR assay that detects and differentiates SARS-COV-2, flu A, flu B, and RSV in one test.
- In February 2021, Becton, Dickinson and Company (US) received approval from the FDA for the emergency use authorization (EUA) for a new molecular diagnostic test for both SARS-CoV-2 and influenza A+B.
Report Link: Influenza Diagnostics Market
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