Fact.MR’s influenza diagnostics industry analysis shows that global market reached a valuation of US$ 2.5 Bn in 2020, and is anticipated to top US$ 4 Bn by 2031, expanding at a CAGR of 5%. Demand for rapid influenza diagnostic testing (RIDT) is projected to reach a valuation of US$ 2 Bn by 2031, surging at a CAGR of 6%, while that for RT-PCR is set to increase at 5%.
Key Points Covered in Influenza Diagnostics Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Demand for Influenza Diagnostics and How to Navigate
- Recommendation on Key Winning Strategies
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Revenue Analysis of Influenza Diagnostics from 2016 to 2020 Vs Demand Outlook for 2021 to 2031
As per the influenza diagnostics industry research by Fact.MR – a market research and competitive intelligence provider, from 2016 to 2020, market value expanded at 4% CAGR, where North America, Europe, and Asia Pacific held a significant share in the global market.
Influenza, commonly known as 'the flu', is an infectious disease caused by an influenza virus. Various traditional and molecular diagnostic technologies are used to identify and diagnose influenza. Nowadays, advanced technologies provide highly effective and accurate diagnosis of the influenza.
For instance, reverse transcription-polymerase chain reaction (RT-PCR), or real time, molecular test provides detection of influenza genetic material. Moreover, continued advancements in rapid influenza diagnostic testing (RIDT) have made this method an effective one for diagnosis because of its fast results and ease of specimen collection.
Factors such as increasing prevalence of influenza, growing awareness for early detection using specific diagnostic tests, development of CLIA-waived POC molecular influenza tests, and shifting focus from centralized laboratories to decentralized point-of-care testing are expected to propel the growth of the global market over the coming years.
Will Growing Awareness Regarding Importance of Early Influenza Diagnosis Drive Market Growth?
Early diagnosis of influenza leads to better treatment and care. It also helps medical professionals and patients take important medical decisions in terms of care and support. There exist a large number of advantages to obtain accurate and early diagnosis after noticing the cognitive symptoms related to a particular medical condition.
Laboratory examination is one of the very effective and popularly practiced testing techniques for the diagnosis of various infectious diseases associated with bacterial, viral, or protozoal infections. Immunoassays, biochemical characterization, polymerase chain reaction, isothermal nucleic acid amplification test, and next-generation sequencing are performed to identify a comprehensive range of infectious diseases.
Increasing awareness among the global population regarding the importance of early disease detection is a major factor responsible for the growth of the global market for influenza diagnostics. Owing to this, organizations are taking initiatives to promote early diagnosis practice to prevent and eradicate mortality due to the disease. For instance:
- In 2019, Public Health England (PHE) launched a 5-year (2020 to 2025) infectious disease strategy (which includes influenza) to prevent, detect, respond, and reduce the impact of infectious diseases.
- WHO designed the Global Influenza Strategy 2019-2030 with the goal of reducing the burden of seasonal influenza, minimizing the risk of zoonotic diseases, and mitigating the impact of the influenza pandemic.
Thus, rising concerns with regards to early diagnosis of influenza are accelerating the adoption of diagnostic products across the world.
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Which Region Offers Great Potential for Influenza Diagnostic Manufacturers?
North America holds around 37% of the market share for influenza diagnostics.
However, the Asia Pacific market is expected to grow at a faster CAGR during the forecast period, mainly attributed to increasing influenza incidence, rising aging population, increasing focus of key vendors in the diagnostics market on this region, favourable reimbursement scenario for diagnostic procedures, increasing government investments to support the healthcare sector, improving infrastructure & accessibility to healthcare, and rising demand for better healthcare.
Why is the U.S a Growth Epicentre for Influenza Diagnostic Product Suppliers?
The U.S. market size was valued at US$ 685 Mn in 2020, and is anticipated to progress at a CAGR of 6% during the forecast period.
Rising geriatric population is anticipated to fuel market growth. The aging population is highly susceptible to various diseases as they are weak immunologically, and therefore are at higher risk of contracting influenza. This is indicative of the rising incidence in the geriatric population, necessitating diagnostic products.
Rise in government initiatives towards enabling diagnosis has facilitated easy access to over the counter (OTC) tests that are user friendly and aid in timely diagnosis.
- For instance, in 2018, the Biomedical Advanced Research and Development Authority (BARDA), a part of the U.S. Department of Health & Human Services, announced its partnership with Diassess Inc. and Cue Health, Inc. to develop testing kits for influenza diagnosis. These OTC products are intended solely for homecare settings facilitating concerned patients to test for the infection.
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Why is Demand for RDIT High in the Market for Influenza Diagnostics?
RDIT held the largest market share in 2020 as this is easily available and user friendly, facilitating effective diagnosis. Additionally, WHO also recommends the use of RDIT for influenza diagnosis as this method is moderately complex, sensitive, specific, and accurate.
Why is RT-PCR Method Gaining High Importance in This Space?
The RT-PCR method delivers results faster in comparison to cell cultures, ranging from 2 minutes to less than 2 hours. This technique also aids in the identification of antiviral resistance. Advancements in these technologies are further expected to boost market growth during the forecast period.
For instance, Thermo Fisher Scientific Inc. offers QuantStudio 3 and 5 RT-PCR, which is simple and easy to use, and is designed for both, new and experienced users. QuantStudio 3 and 5 RT-PCR is combined with the Thermo Fisher Cloud platform that helps individuals to remotely monitor and access results, and also enables collaboration with colleagues anytime and anywhere.
Therefore, such technological advancements are anticipated to further fuel market growth during the assessment period.
What Has Been the Impact of COVID-19 on the Sales of Influenza Diagnostic Products?
Rising burden of infectious diseases across the globe has increased the demand for infectious disease diagnosis products, including influenza & other diseases. The recent outbreak of coronavirus (COVID-19) has caused disruptions in several countries across the world.
When compared to influenza, both viruses have a similar disease presentation, i.e., they both cause respiratory issues. Moreover, both are transmitted by contact, droplets, and fomites. At earlier stages, COVID-19 patients are misdiagnosed with influenza.
However, soon it was realized that factors such as immunity, age group, transmission rate, vaccination, & few others are drastically different in case of COVID-19 & influenza.
Thus, after realizing the difference between these two infections, demand for influenza kits normalized and the need for a comprehensive approach for diagnosis & treatment gained importance to combat the COVID-19 pandemic.
The market scenario for influenza diagnostics is highly competitive. Moreover, the advancements in technology and the innovations in developing the quick, precise, and low-cost diagnosis for diseases is the major aspect creating an opportunity for market players.
Hoffmann-La Roche AG (Switzerland) dominated the global market in 2019. The company operates in the market by providing molecular diagnostic kits for the detection of various strains of infection-causing agents.
The company’s strategic initiatives, such as obtaining Clinical Laboratory Improvement Amendments (CLIA) waiver approvals for its influenza assays and test kits, will help it in establishing its presence in various international markets. Also, its strong distribution network and geographic presence will result in growth opportunities for the company in future.
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Influenza Diagnostics Market Report Scope
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Market Segments Covered
|Key Market Segments Covered||
Key Companies Profiled
|Customization & Pricing||
Available upon Request
Key Segments Covered in Influenza Diagnostics Industry Research
- Traditional Influenza Diagnostic Tests
- Rapid Influenza Diagnostic Tests (RIDTs
- Direct Fluorescent Antibody (DFA) Tests
- Viral Culture
- Serological Assays
- Molecular Influenza Diagnostic Tests
- Reverse Transcription Polymerase Chain Reaction (RT-PCR)
- Isothermal Nucleic Acid Amplification Tests (INAAT)
- Loop Mediated Isothermal-based Amplification Assays
- Transcription Mediated Isothermal-based Amplification Assays
- Transcription Mediated Isothermal-based Amplification Assays
- Traditional Influenza Diagnostic Tests
By End User
- Influenza Diagnostics at Hospitals & Clinical Laboratories
- Influenza Diagnostics at Diagnostic Reference Laboratories
- Influenza Diagnostics at Academic/Research Institutes
Influenza Diagnostics Market- Scope of Report
A recent study by Fact.MR on the influenza diagnostics market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering influenza diagnostics.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies dealing in influenza diagnostics, along with their product portfolios, key strategies, and SWOT Analysis, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including revenue growth and revenue generation across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue of influenza diagnostics market during the forecast period.
Key Questions Answered in Report
- Which are the most lucrative markets for influenza diagnostics?
- Which factors will impact the growth of influenza diagnostics market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the influenza diagnostics industry?
- What are the winning strategies of stakeholders in the market?
Market Size Evaluation
The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).
Market estimates at global and regional levels for influenza diagnostics are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global influenza diagnostics market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on revenue for influenza diagnostics have been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for key countries has also been included in the report.
The report sheds light on leading providers of influenza diagnostics, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering influenza diagnostics have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take pre-emptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the influenza diagnostics market.
- FAQs -
The global influenza diagnostics market is worth US$ 2.5 Bn, and is projected to top US$ 4 Bn by 2031-end.
Sales of influenza diagnostic products are set to expand at a CAGR of 5% during 2021-2031.
Increasing prevalence of influenza and growing awareness regarding early detection using specific diagnostic tests are driving demand for influenza diagnostics.
Prominent players operating in this market are Thermo Fisher Scientific, Hologic, Quidel Corporation, F. Hoffmann-La Roche AG, Abbott Laboratories, Becton, Dickinson and Company, Danaher Corporation, and Meridian Bioscience.
North America accounts for 37% of revenue share for influenza diagnostics.
RDIT (rapid diagnostics influenza tests) hold the largest market as they are easily available and are also user friendly.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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