The global influenza diagnostics market is anticipated to grow at a CAGR of around 8.3% during the forecast period (2024-2031). The rising prevalence of influenza diseases, the growing geriatric population which is more prone to this disease, and the rising demand for early diagnosis are the major factors driving the growth of the market. According to the estimates of the Centers for Disease Control & Prevention, in 2019-2020, flu caused 38 million illnesses, 400,000 hospitalizations, and 22,000 deaths in the US. The demand for point-of-care diagnosis solution and effective diagnostic kits has increased in the last few years due to growing concern and awareness for the treatments. To fulfil the market needs and customer demands, various authorities giving fund for the development of drugs and companies also taking initiatives by launching new molecular diagnostic kits.
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In February 2021, Luminex Corp. has received a fund of $11.3 millionfrom the US Department of Health and Human Services’ Biomedical Advanced Research and Development Authority (BARDA). The fund was given to support the development and validation of a multiplex respiratory panel for flu A/B, respiratory syncytial virus (RSV), and SARS-CoV-2 targets on its Aries systems. Moreover, in June 2020, Cepheid announced the development of a next-generation Xpert Xpress SARS-CoV-2/Flu/RSV four-in-one test for the detection of SARS-CoV-2, Flu A, Flu B and RSV from a single patient sample. Similarly, in February 2020, Abbott Laboratories had launched a new inactivated quadrivalent vaccine for influenza that offers protection against four virus strains in India. Besides, these product developments, the Enormous Funding and Investment by the government for the R&D of influenza diagnostics further projected to create lucrative opportunities to the market.
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Market Coverage
- Segment Covered-
o By Test Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- CompetitiveLandscape- F. Hoffmann-La Roche Ltd, Quidel Corp., Thermo Fisher Scientific Inc., Abbott Laboratories, Luminex Corp., Becton, Dickinson and Co., among Others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Influenza Diagnostics Market Report Segment
By Test Type
- Molecular Diagnostic Assays
o RT-PCR
o LAMP
o NASBA
o SAMBA
- Traditional Diagnostic Tests
o Rapid Influenza Diagnostic Tests (RIDT)
o Serological Assay
o Viral Culture
By End-User
- Hospitals & Diagnostic Centers
- Research & Academic Institutes
- Contract Research Organizations (CROS)
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