Global Influenza Diagnostic Tests Market to Surpass $ 1.5 Bn by 2025

February 10, 2020


According to the research report titled ‘Influenza Diagnostic Tests Market Size By Influenza Type (Type A Flu, Type B Flu), By Test Type (Traditional Diagnostic Test {Rapid Influenza Diagnostic Test (RIDT), Direct Fluorescent Antibody Test (DFAT), Viral Culture, Serological Assay}, Molecular Diagnostic Assay {RT-PCR, Loop-mediated Isothermal Amplification-based Assay (LAMP), Nucleic Acid Sequence-based Amplification Test (NASBAT), Simple Amplification-based Assay (SAMBA)}), By Patient (Pediatric {0 to 4 years, 5 to 17 years}, Adult {18 to 49 years, 50 to 64 years, 65+ years}), By End-use (Hospitals, Diagnostics Centers, Research Laboratories) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global influenza diagnostic tests market is expected to cross USD 1.5 billion by the year 2025.
 

According to the report, increased pervasiveness of influenza and other chronic diseases along with increasing awareness pertaining to benefits of early diagnosis are major factors driving the influenza diagnostic tests market growth. Various key industry players are focusing on R&D activities in order to develop innovative influenza diagnostic tests. Thus, rising adoption of advanced diagnostic tests are further aiding the market expansion. However, strict approval regulations may hinder the market growth. Adding to this, numerous inconsistencies in specificity and sensitivity associated with influenza diagnostic tests may further inhibit the market growth.
 

Based on influenza type, the report states that Type A segment is expected to grow by 7% by the year 2025. Rising prevalence of influenza has led to rising adoption of the product which in turn is fueling the segmental growth.
 

As per test type, traditional diagnostic test segment was worth USD 594.8 million in the year 2018 and is anticipated to record decent gains in the forthcoming years. RIDT (rapid influenza diagnostic test) helps in detecting influenza within 15 minutes along with high specificity and accuracy. Owing to these benefits, rising adoption of traditional influenza diagnostic tests are favoring the market outlook.
 

Speaking of patient type, the report cites that pediatric segment is presumed to expand with a CAGR of 7.7% during the period of 2019-2025. Rising prevalence of influenza among pediatrics is facilitating the business scenario.
 

Citing the end-use landscape, hospitals segment was worth USD 278.3 million in the year 2018 and is expected to register momentous growth in the subsequent years. Increasing consciousness regarding advantages of early diagnosis has increased visits to hospitals for identification of influenza which in turn is driving the market growth.
 

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As per the regional analysis, the U.S. influenza diagnostic tests industry is presumed to expand with a CAGR of 6.3% during the period of 2019-2025. Availability of skilled medical professionals and advanced healthcare facilities coupled with high occurrence rate of influenza are augmenting the regional demand for the product. Moreover, favorable federal initiatives which promote development of advanced technologies in order to provide efficient results for influenza are aiding the expansion of the market. On the other hand, influenza diagnostic tests market in China was worth USD 70.4 million in the year 2018.
 

The prominent companies operating in the influenza diagnostic tests market are SA Scientific, Abbott, Becton, Dickinson & Co., Thermo Fischer Scientific Inc., Quidel Corp., Meridian Bioscience Inc., Luminex Corp., F. Hoffman-La Roche Ltd., DiaSorin S.p.A., and Corisbioconcep.


Frequently Asked Questions (FAQ) :

According to the report, increased pervasiveness of influenza and other chronic diseases along with increasing awareness pertaining to benefits of early diagnosis are major factors driving the influenza diagnostic tests market growth. Various key industry players are focusing on R&D activities in order to develop innovative influenza diagnostic tests. Thus, rising adoption of advanced diagnostic tests are further aiding the market expansion.
Traditional diagnostic test segment was worth USD 594.8 million in the year 2018 and is anticipated to record decent gains in the forthcoming years. RIDT (rapid influenza diagnostic test) helps in detecting influenza within 15 minutes along with high specificity and accuracy. Owing to these benefits, rising adoption of traditional influenza diagnostic tests are favoring the market outlook.
The U.S. influenza diagnostic tests industry is presumed to expand with a CAGR of 6.3% during the period of 2019-2025. Availability of skilled medical professionals and advanced healthcare facilities coupled with high occurrence rate of influenza are augmenting the regional demand for the product. Moreover, favorable federal initiatives which promote development of advanced technologies in order to provide efficient results for influenza are aiding the expansion of the market.
The prominent companies operating in the influenza diagnostic tests market are SA Scientific, Abbott, Becton, Dickinson & Co., Thermo Fischer Scientific Inc., Quidel Corp., Meridian Bioscience Inc., Luminex Corp., F. Hoffman-La Roche Ltd., DiaSorin S.p.A., and Corisbioconcep.