Trusted Business Insights presents the Updated and Latest Study on Influenza Diagnostic Tests Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Influenza Diagnostic Tests Market
Industry / Sector Trends
Influenza Diagnostic Tests Market size was valued USD 937.0 million in 2018 and is expected to witness 7.2% CAGR from 2019 to 2025.
U.S. influenza diagnostic tests market, by influenza type, 2018 & 2025 (USD Million)
Influenza is a viral infection that affects the respiratory passages and results into severe ache and fever. Influenza viruses are responsible for the infection in throat, nose and lungs. Influenza is highly contagious, and a healthy person can be easily infected by diseased patient as the virus is airborne.
Growing number of government initiatives to counter influenza outbreaks will drive the influenza diagnostic tests market growth over the foreseeable future. Growing ageing population is also expected to boost the market growth as old aged people are more vulnerable to influenza. Introduction of technologically advanced influenza diagnostic tests will also act as a driving force for the growth of global market. There is a rise in prevalence of diabetes, heart and blood disorders across the globe. According to the International Diabetes Federation (IDF), the global prevalence of diabetes is expected to reach 435 million by 2030. Such factors will augment the growth of the market over the forecast period.
Increasing awareness about the disease will boost the global influenza diagnostic tests market growth. Rising healthcare expenditure dedicated towards R&D of influenza treatments and diagnostics will augment the growth of global market. Rise in demand for rapid diagnostic tests will also boost the market growth. However, lack of skilled medical professionals along with mutations associated with influenza virus will hamper the market growth over the estimation period.
Market Segmentation, Outlook & Regional Insights: Influenza Diagnostic Tests Market
Influenza Diagnostic Tests Market, By Influenza Type
Germany influenza diagnostic tests market share, by influenza type, 2018
Influenza diagnostic tests for Type A Flu was valued at USD 779.4 million in the year 2018. Growing incidence of influenza across the globe will positively impact the segmental growth. Influenza A is a highly communicable respiratory disease. Influenza A virus has resulted in annual epidemic outbreak leading to approximately 20,000 to 36,000 deaths per year in the U.S. Influenza A is caused by infection with a virus and is often known as avian flu or bird flu. Hence, rise in number of people suffering from influenza A will ultimately result in augmenting the demand and adoption rate of influenza diagnostic tests, fueling the market growth.
Influenza diagnostic tests for Type B Flu is estimated to grow at 7.9% over the estimation period. Influenza is a significant public health burden and the sixth leading cause of death in the U.S. The most common host for type B virus is humans. These viruses mutate at much slower rate than type A and are categorized by strains not by subtypes. Additionally, these viruses take more time to change their genetic makeup than influenza A that drastically reduces the risk of outbreaks. Hence, increasing prevalence of influenza B will enhance the influenza diagnostic tests market growth in the near future.
Influenza Diagnostic Tests Market, By Test Type
Influenza diagnostic tests using traditional diagnostic methods was valued at USD 594.8 million in the year 2018. Traditional diagnostic methods such as cell culture, immunofluorescent assays, and serology are commonly used in private clinics and research laboratories. One of the traditional diagnostic tests, Rapid Influenza Diagnostic Test (RIDT) segment is anticipated to witness substantial growth over the forecast period. These tests are antigen detection assays that detects influenza viral antigens within 10 to 15 minutes with high specificity. Rapid influenza diagnostic tests can identify the presence of influenza A and B viral antigens in respiratory samples and exhibit the result in a qualitative way. Hence, recent technological advancements to rapidly diagnose influenza will boost the influenza diagnostic tests market growth in the near future.
Influenza diagnostic tests using molecular diagnostic assays is estimated to show significant growth at 7.3% in the forthcoming years. Molecular diagnostic assays are a kind of molecular influenza diagnostic assessment to sense influenza virus in upper respiratory tract samples with high specificity and sensitivity. Molecular diagnostic assays overcome drawbacks of other techniques. Hence, advantages offered by the molecular diagnostic assays over other techniques will boost the market growth in the near future.
Influenza Diagnostic Tests Market, By Patient
Influenza diagnostic tests in pediatrics is estimated to show substantial growth at 7.7% over the forecast timeframe. Growing burden of influenza in pediatrics will stimulate the growth of the market over the forthcoming years. According to Centers for Disease Control and Prevention (CDC), hospitalizations and deaths related to seasonal influenza are greatest amongst children below two years of age than adults. The rate of hospitalization in young children without any underlying health conditions are high in the influenza season that occurs during winter in the northern hemisphere. Hence, increase in number of new-born suffering from influenza will spur the market growth in the near future.
Influenza diagnostic tests in adults was valued at USD 716.8 million in the year 2018. Increasing incidence of influenza in adults will stimulate the industry growth over the projected timeframe. According to the World Health Organization, around 5 to 10% adults are affected by influenza every year. The severity of influenza in younger adults is less and results less frequently in hospitalization as compared to pediatrics, pregnant women, and adults above 65 years of age. Hence, growing influenza prevalence in adults will boost the influenza diagnostic tests market in the forthcoming years.
Influenza Diagnostic Tests Market, By End-use
Influenza diagnostic tests in the hospitals was valued at USD 278.3 million in the year 2018. The hospital segment is expected to hold significant market share over the forecast period. The growth can be attributed to increased hospitalizations due to influenza. Hospitals offer advanced facilities for proper influenza diagnostic tests at an affordable price. Moreover, influenza diagnosis is suggested for in-patients with suspected influenza. Molecular diagnostic tests such as Nucleic Acid Sequence-based Amplification (NASBA) test and Reverse Transcription-Polymerase Chain Reaction (RT-PCR) are performed in hospital settings. Hence, increase in hospital admissions along with presence of state-of-art facilities in the hospitals will spur the market in the near future.
Influenza diagnostic tests in diagnostic centers is estimated to grow at 7.4% over the estimation period. Diagnosis of influenza in diagnostic centers is cornerstone for prevention, suppression, and treatment of influenza outbreaks. The emergence of highly pathogenic and novel avian influenza viruses has extended the role of diagnostic centers to include isolation and subtyping of the influenza virus to monitor the strain. Availability of rapid and accurate diagnostic tests for the detection of influenza has enabled the diagnostic centers to provide a quick that allow clinicians to initiate antiviral therapy, decrease the duration of hospitalization, and decrease healthcare costs. Hence, several diagnostic advantages will augment the market growth.
Influenza Diagnostic Tests Market, By Region
Asia Pacific influenza diagnostic tests market, by country, 2025 (USD Million)
U.S. dominated the North America influenza diagnostic tests market and was valued at USD 287.0 million in the year 2018. The market in the U.S. is estimated to foresee significant growth over the projected period due to high prevalence of influenza coupled with hospitalization. United States represents a major regional market share owing to the high patient pool. According to the Center for Disease Control and Prevention, nearly 30,453 Americans were hospitalized between 2017 to 2018. Increasing government initiatives to control and prevent influenza in the region will further propel the growth. For instance, CDC tracks and prevents the disease through its national influenza surveillance system to detect the outbreak of disease. Hence, growing prevalence of influenza along with state-of-art facilities in the country will enhance the market in the near future.
Indian market is expected to witness momentous growth at 9.0% during the forecast period due to high infection with avian influenza A that resulted in influenza outbreaks. Changing activity of influenza virus due to altering climatic conditions in the region requires continuous surveillance of virus for development of vaccines. Increasing concern regarding prevention of influenza will further assist the growth of influenza diagnostics in India across the forecast timeframe.
Key Players, Recent Developments & Sector Viewpoints: Influenza Diagnostic Tests Market
Some of the significant market players involved in influenza diagnostic tests market include CorisBioconcep, DiaSorin S.p.A, F. Hoffmann-La Roche Ltd, Luminex Corporation, Meridian Bioscience Inc., among other market players. These market players have implemented numerous strategic initiatives such as collaborations with other players, merger and acquisitions, new product launch and partnerships that have improved their financial capability in maintaining the market position.
Recent industry developments:
In April 2019, Meridian Bioscience entered into agreement to acquire GenePOC Inc. business of molecular diagnosis and assay. The company€™s strategy is expansion of diagnostic portfolio that may accelerate growth of company in upcoming years.
In October 2018, Abbott announced successful launch of Influenza A & B 2 and Strep 2 molecular assay diagnostic test kit for influenza. The company€™s strategy was expansion of product portfolio and attracting customer that may positively affect the company growth.
Influenza Diagnostic Tests Industry Viewpoint
Influenza is considered as highly transmittable respiratory infection, caused by influenza A or influenza B viruses. Influenza spreads from infected people to other people via respiratory secretions that contains the virus. The most common medium of disease transmission is through coughing and sneezing. Influenza results in considerable disease burden among the new-born, children and adults. The biomarkers for monitoring influenza activity at the point-of-care (POC) testing are currently lacking. Recent use of fluorescence-based rapid testing method have been developed in order to provide enhanced sensitivities with the initial diagnosis. Diagnosis of influenza on the basis of clinical symptoms is difficult due to varied manifestations that are nonspecific. Also, results of diagnostic tests provide potential benefits of accurate and rapid diagnosis of influenza infection.
Key Insights Covered: Exhaustive Influenza Diagnostic Tests Market
1. Market size (sales, revenue and growth rate) of Influenza Diagnostic Tests industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Influenza Diagnostic Tests industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Influenza Diagnostic Tests industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Influenza Diagnostic Tests industry.
Research Methodology: Influenza Diagnostic Tests Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Influenza Diagnostic Tests Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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