Influenza Diagnostics Market Size To Hit US$ 3.1 Billion By 2033, Owing To Increasing Investments in Healthcare Sector Globally | Persistence Market Research

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Friday, March 24, 2023 at 2:20am UTC

New York, March 23, 2023 (GLOBE NEWSWIRE) -- The Influenza Diagnostics Market to reach a valuation of US$ 1.6 Billion in 2022 to US$ 3.1 Billion by the end of 2033, with at a CAGR of 6.1%.

Influenza diagnostics refer to the tools and devices used to diagnose influenza, a highly contagious viral respiratory illness. There are several different types of diagnostic tests available, including rapid influenza diagnostic tests (RIDTs), PCR-based tests, immunofluorescence assays (IFAs), and others.

RIDTs are simple tests that can be performed in a doctor's office or clinic and provide results within 15-30 minutes. These tests work by detecting viral proteins in a nasal swab or throat swab sample.

PCR-based tests, on the other hand, use a more complex technology that amplifies the viral RNA present in a sample, allowing for highly sensitive detection of the virus. These tests are typically performed in a laboratory and can take several hours to produce results.

IFAs are also laboratory-based tests that use fluorescent dyes to detect the presence of the influenza virus in a sample. These tests are highly sensitive and can detect low levels of virus, but they are more time-consuming and require specialized equipment and expertise.

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The influenza diagnostics market is driven by several factors, including the increasing incidence of influenza and related complications, growing awareness about the importance of early diagnosis and treatment, and technological advancements in diagnostic tools and devices. Additionally, the ongoing COVID-19 pandemic has raised awareness about the importance of infectious disease diagnostics, including influenza, and is expected to drive demand for diagnostic tools and devices in the coming years.

Influenza Diagnostics Market Dynamics

  • Increasing incidence of influenza: The increasing incidence of influenza is a major driver of the market. Influenza is a highly contagious viral respiratory illness that affects millions of people worldwide each year, leading to hospitalizations and even death in some cases.
  • Impact of the COVID-19 pandemic: The ongoing COVID-19 pandemic has raised awareness about the importance of infectious disease diagnostics, including influenza. The pandemic has also led to increased investment in healthcare infrastructure and research, which is expected to drive growth in the influenza diagnostics market.

Segment Insights

  • By product type: The market is segmented into rapid influenza diagnostic tests (RIDTs), PCR-based tests, immunofluorescence assays (IFAs), and others. PCR-based tests are expected to have the largest market share due to their high accuracy and sensitivity.
  • By end-user: The market is segmented into hospitals, diagnostic laboratories, research laboratories, and others. Hospitals are expected to have the largest market share due to the high incidence of influenza cases and the availability of diagnostic facilities in hospitals.

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Regional Insights

The market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to have the largest market share due to the high prevalence of influenza, increasing awareness about the importance of early diagnosis, and the presence of major market players in the region. The Asia Pacific region is expected to grow at a high CAGR due to the increasing incidence of influenza and rising healthcare expenditure in the region.

Competition Landscape

Some of the key players operating in the market include: Abbott Laboratories, Endress+Hauser (Analytik Jena AG), Becton, Dickinson and Company, Biocartis, bioMérieux Inc, Danaher Corporation (Cepheid), F. Hoffmann-La Roche Ltd, GenMark Diagnostics, Inc., Luminex Corporation, Meridian Bioscience, Inc, Quidel Corporation, Thermo Fisher Scientific Inc., Hologic

These companies are focusing on developing new and innovative diagnostic tools and devices, expanding their product portfolio, and strengthening their distribution networks to increase their market share. They are also investing in research and development to develop more accurate and sensitive diagnostic tests for influenza.

In addition to these established players, several new entrants and start-ups are also emerging in the market, particularly in the Asia Pacific region. These companies are focusing on developing low-cost diagnostic tools and devices that can be used in resource-limited settings.

Overall, the competition in the influenza diagnostics market is expected to intensify in the coming years as more players enter the market and existing players expand their product offerings and distribution networks.

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Influenza Diagnostics Market Recent Developments

  • In September 2021, F. Hoffmann-La Roche Ltd. announced the launch of its Elecsys® Flu Immunoassay, a high-performance test for detecting influenza viruses. The test provides results in just 18 minutes and can detect both A and B strains of influenza.
  • In August 2021, Abbott Laboratories announced that its Alinity™ m Resp-4-Plex molecular assay had received emergency use authorization from the U.S. FDA for the detection of influenza viruses and COVID-19.
  • In May 2021, DiaSorin S.p.A. announced that it had received CE-IVD mark for its Simplexa™ Flu A/B & RSV Direct Gen II molecular diagnostic test. The test is designed to detect influenza A and B viruses as well as respiratory syncytial virus (RSV).

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