What is the global market size of Influenza Diagnostics Market?

Influenza Diagnostics Market size was valued at USD 1.07 billion in 2021 and is poised to grow from USD 1.1 billion in 2022 to USD 1.46 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).

Who are the key vendors in the Global Influenza Diagnostics Market?

The Influenza Diagnostics Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Becton Dickinson, Biomerieux, Merck, and Bio-Rad Laboratories among others who are driving the Influenza Diagnostics Market. 'Thermo Fisher Scientific, Inc.', 'Roche Diagnostics', 'Abbott Laboratories', 'Becton, Dickinson and Company', 'Quidel Corporation', 'DiaSorin S.p.A.', 'bioMérieux SA', 'Meridian Bioscience, Inc.', 'Luminex Corporation', 'Hologic, Inc.', 'F. Hoffmann-La Roche Ltd.', 'Cepheid Inc.', 'Sekisui Diagnostics LLC', 'GenMark Diagnostics, Inc.', 'Quanterix Corporation', 'Alere Inc.', 'Merck KGaA', 'Hologic, Inc.', 'Scienion AG', 'Enzo Biochem, Inc.'

What is the key driver of Global Influenza Diagnostics Market?

The Human Genome Project and advances in molecular and biomedical technologies have resulted in the development of a plethora of assays and technologies useful for the diagnosis and management of influenza infections. These new technologies, which are based on genomic techniques (such as PCR) and proteomics (such as microarray detection), aid in the discovery of new influenza viruses. They also allow for better surveillance and rapid diagnosis of infectious diseases, which offers a Influenza Diagnostics Market opportunity.

What is the key market trend for Global Influenza Diagnostics Market?

Vaccination is a major method of immunizing individuals against infectious diseases to avoid serious complications, particularly in immunocompromised patients who are at high risk. Mutation of the virus serotype proves to be a major impediment because vaccination becomes difficult in such cases, putting the individual at risk of contracting the virus. Thus, as virus types change, it is critical to detect their presence in patients and administer timely medication to prevent fatalities. As a result, the demand for influenza diagnostics products has increased, accelerating market growth.

Which region accounted for the largest share in Global Influenza Diagnostics Market?

In 2021, North America dominated the influenza diagnostics market and it is expected to maintain its dominance throughout the forecast period (2022-2028). The regional Influenza Diagnostics Market is expected to be driven by the high prevalence of influenza during the forecast period. It is estimated that, approximately 5% to 20% of Americans will be diagnosed with influenza each year in 2022. Moreover, the Centers for Disease Control and Prevention reported 35 million flu-related illnesses, 380,000 flu-related hospitalizations, 20,000 flu-related deaths, and 16 million flu-related medical visits in 2019-2020. This rising disease burden is believed to have a positive impact on market growth in the coming years. RIDTs are widely available all across the region. The short time required to generate results is the reason for the test's wider availability. RIDT can produce results in as little as 15 minutes. With rising influenza-related hospitalizations and pediatric deaths, as well as government organizations' desire to better manage the disease, the North American influenza diagnostics market is expected to expand in the coming years.

Influenza Diagnostics Market Size, Share, Growth Analysis, By Test Type(Traditional Diagnostic Test, Molecular Diagnostic Assay), By End-User(Hospital, Laboratories, Other End Users), By Region - Industry Forecast 2024-2031

Report ID: SQSG35G2011 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 62 | Figures: 75

Influenza Diagnostics Market Insights

Influenza Diagnostics Market size was valued at USD 1.07 billion in 2019 and is poised to grow from USD 1.1 billion in 2023 to USD 1.46 billion by 2031, growing at a CAGR of 3.5% in the forecast period (2024-2031).

Increasing healthcare expenditure and the availability of effective treatment options have led to an increase in the median age worldwide. The WHO, CDC, and European Centre for Disease Prevention and Control, among other regulatory bodies, are actively recording incidence & prevalence data to counter the disease systematically. These bodies work together with local governments to achieve overall control of the treatment and management of this disease. The Global Influenza Program (GIP) is one initiative the WHO undertook to provide technical support, strategic guidance, and coordination activities concerning zoonotic, pandemic, and seasonal flu cases. Such initiatives are expected to boost market growth during the forecast period. COVID- 19 has had a significant impact on the influenza diagnostics market across the globe. Many manufacturing facilities have ceased or closed because of the nation-wide lockdowns. Unfavorable regulations and guidelines changes of many disease diagnostics are hampering the flu diagnostic medium market. Supply chain disruptions in and responses to the spread of COVID- 19 are expected to have an impact. Besides, COVID- 19 and influenza have multiple things in common – Both of them are contagious viruses and also show similar symptoms of respiratory illness. Hence, it is mandatory to test for influenza, whenever COVID-19 affects the respiratory system of a patient. This is creating an increasing testing for influenza.

US Influenza Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.

Influenza Diagnostics Market Report Snapshots

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The Influenza Diagnostics market is undergoing greater regulatory scrutiny. Presently, companies spend considerable resources on clinical trials and submissions to meet regulatory requirements for diagnosing new tests. This may impose substantial pressure on the cost of developing novel influenza diagnostics technologies. Therefore, governments across the globe are developing regulations to manage the development and control the cost of testing. These regulations can significantly impact the things for the market and products will be affected for the development and adoption perspective. 'Thermo Fisher Scientific, Inc.', 'Roche Diagnostics', 'Abbott Laboratories', 'Becton, Dickinson and Company', 'Quidel Corporation', 'DiaSorin S.p.A.', 'bioMérieux SA', 'Meridian Bioscience, Inc.', 'Luminex Corporation', 'Hologic, Inc.', 'F. Hoffmann-La Roche Ltd.', 'Cepheid Inc.', 'Sekisui Diagnostics LLC', 'GenMark Diagnostics, Inc.', 'Quanterix Corporation', 'Alere Inc.', 'Merck KGaA', 'Hologic, Inc.', 'Scienion AG', 'Enzo Biochem, Inc.'

The rising global prevalence of influenza has surged the R&D activities for the accurate detection and diagnosis. Although the major concentration of research activities is targeted towards the development of a rapid and precise diagnosis of the influenza viruses, it will drive market growth as well. In addition to this, the rising incidences of government initiatives against the outbreak of influenza, technological advancements, and the increasing incidences of cardiovascular diseases and diabetes will provide a further push to market growth.

Increasing in the Reported Cases of Influenza: The global influenza diagnostics market is expected to experience growth due to the increased occurrence of influenza. According to the centers for disease control and prevention on average about 12,000- 79,000 people die of Influenza each year in the United States. The market is also expected to grow during the forecast period because of the increasing awareness of the importance of early detection and prevention of diseases such as influenza.

North America is dominating the Influenza Diagnostics market with the largest market share. The North American region dominated the diagnostic market in 2023 which was mainly due to the government’s support for high-quality healthcare, increase in focus of influenza outbreak, and the high buying power. The U.S. was the largest revenue contributor to the North American market in 2023. This is mainly because the U.S. market is expected to grow due to the well-established healthcare infrastructure and increase in programs for influenza diagnostics. These factors are increasing the growth of the influenza diagnostics market in the North America region.  

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Influenza Diagnostics Market Size, Share, Growth Analysis, By Test Type(Traditional Diagnostic Test, Molecular Diagnostic Assay), By End-User(Hospital, Laboratories, Other End Users), By Region - Industry Forecast 2024-2031

Influenza Diagnostics Market Insights

Influenza Diagnostics Market Report Snapshots

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What is the global market size of Influenza Diagnostics Market?

Who are the key vendors in the Influenza Diagnostics Market?

What is the key driver of Influenza Diagnostics Market?

What is the key market trend for Influenza Diagnostics Market?

Which region accounted for the largest share in Influenza Diagnostics Market?

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