Influenza Diagnostics Market will worth USD 2.58 billion by 2030 : GreyViews

Influenza Diagnostics Market Size by Test Type (Cell Culture, RIDT, RT-PCR and Others), By End-User (Diagnostic Laboratories, Clinics, Hospitals and Others), Regions, Segmentation, and forecast till 2030.

Pune India, Jan. 27, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the influenza diagnostics market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the influenza diagnostics market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as test type, end-user, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.

The significant players operating in the global influenza diagnostics market are Hologic, Inc., F. Hoffmann-LA Roche AG, Thermo Fisher Scientific, Inc., Quidel Corporation, Abbott Laboratories, Inc., Becton, Dickson and Company, 3M, Sekisui Diagnostics, SA Scientific, Meridian Bioscience, Inc. among others. To achieve a substantial market share in the worldwide influenza diagnostics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Influenza viruses A and B cause influenza, also known as the flu. It can be detected and identified with both traditional and molecular diagnostic tools. Modern diagnostic tools have enabled influenza to be diagnosed quite accurately and efficiently. A recent increase in market revenue has been associated with the use of smartphones to screen for diseases. As a result of increasing awareness about the importance of early disease detection among the global population, the global influenza diagnostics market is expected to grow significantly in the coming years. Because of this, organizations are promoting early diagnosis practices in order to prevent and eradicate disease-related mortality. With  new technologies, which are based on genomic techniques and proteomics, new influenza viruses can be discovered. Also, they facilitate better surveillance and rapid diagnosis of infectious diseases, creating market opportunities. The market is witnessing immense growth but there are some factors which are hampering the growth of the market. Factors such as lack of skilled professionals, regulatory framework instability and poor healthcare infrastructures. Furthermore, market key players are focusing on creating more user-friendly detection kits with more accuracy and quick results which will create more growth opportunities for the market over the forecast period.

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Scope of Influenza Diagnostics Market Report:

Report Metric Information
Study Period 2022-2030
Base Year              2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Test Type, End-user, and Regions.

 

Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players Hologic, Inc., F. Hoffmann-LA Roche AG, Thermo Fisher Scientific, Inc., Quidel Corporation, Abbott Laboratories, Inc., Becton, Dickson and Company, 3M, Sekisui Diagnostics, SA Scientific, Meridian Bioscience, Inc. among others

Segmentation Analysis

RIDT is expected to be the fastest-growing segment in 2022. 

The test type segment includes cell culture, RIDT, RT-PCR and others. The RIDT segment is expected to witness the highest growth rate during the forecast period. It is expected that the rapid influenza diagnostic tests (RIDT) will grow at the fastest CAGR over the forecast period, as it held the majority revenue share in the influenza diagnostics market. In clinical settings, influenza diagnostic testing is increasing for surveillance and patient management. Many RIDTs are approved for home and office use, as well as point-of-care settings.

Hospitals are expected to be the fastest-growing segment in 2022. 

The end-user segment is diagnostic laboratories, clinics, hospitals and others. The hospital segment is expected to witness the highest growth rate during the forecast period. As the number of hospitalizations for influenza increases during active influenza seasons and as healthcare expenditures for hospital testing rise across the globe, hospitals are increasingly seeking advanced influenza diagnostic kits and instruments, which is boosting the growth of the market.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the influenza diagnostics market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The North American region witnessed a major share. With the rising disease burden, market growth is predicted to be positive in the coming years. With the increasing incidence of influenza-related hospitalizations and pediatric deaths, RIDTs are widely available across the region due to the short turnaround time required for generating results. RIDTs can produce results in as little as 15 minutes.

Country Analysis

  • Germany

Germany’s influenza diagnostics market size was valued at USD 0.10 billion in 2022 and is expected to reach USD 0.16 billion by 2030, at a CAGR of 6.3% from 2023 to 2030.
The increase in influenza prevalence, government interventions, the presence of important leaders, and advanced facilities throughout the country are all contributing factors.

  • China

China’s influenza diagnostics market size was valued at USD 0.11 billion in 2022 and is expected to reach USD 0.18 billion by 2030, at a CAGR of 6.5% from 2023 to 2030.
During the forecast period, technological advancements for developing advanced diagnostic devices will facilitate the growth of the influenza diagnostics market in China.

  • India

India’s influenza diagnostics market size was valued at USD 0.09 billion in 2022 and is expected to reach USD 0.14 billion by 2030, at a CAGR of 6.4% from 2023 to 2030.
A number of leading players in the influenza diagnostics industry are pursuing various strategies for capturing the maximum share of the market, including R&D investments, application of advanced techniques, and launches of new products.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising healthcare infrastructure and increased R&D, propelling the growth of the market across the countries.

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