Influenza Diagnostics Market Analysis and Forecast to 2031: By Product (Test Kit & Reagents, Instruments, Others), Test Type (Molecular Diagnostic Test, Traditional Diagnostic Test), End User (Diagnostic Laboratories, Hospitals & Clinics, Others), and Region
The global influenza diagnostics market was valued at USD 0.9 billion in 2021 and it is anticipated to grow further till USD 1.6 billion by 2031, at a CAGR of 5.9% during the forecast period.
The influenza virus is the infectious disease that causes influenza, also referred to as "the flu." Flu is identified and diagnosed using a variety of conventional and molecular diagnostic tools. Modern technology is able to diagnose influenza quite effectively and precisely. For instance, the real-time molecular test known as the reverse transcription-polymerase chain reaction (RT-PCR) allows for the identification of influenza genetic material. Furthermore, due of its quick results and simple specimen collection, rapid influenza diagnostic testing (RIDT) has become an efficient approach for diagnosis.
Market Trends and Drivers
R&D efforts for better detection and diagnosis of influenza have intensified due to its rising frequency globally. The majority of research efforts concentrate on creating quicker and more precise diagnostic tools for influenza viruses, which will spur market expansion. Similarly, Numerous assays and technologies helpful for the diagnosis and treatment of influenza infections have been developed as a result of the enormous quantity of data produced by the Human Genome Project and developments in molecular and biomedical technologies. These new genomic and proteomic technologies, such as microarray-based detection and PCR-based approaches, aid in the identification of novel influenza viruses. Additionally, they allow for quicker and better surveillance of infectious diseases, which presents a business opportunity.
Market Restraints and Challenges
The principal variables that affect the outcomes of influenza diagnostic tests are sensitivity and specificity. The complexity of these tests is mostly due to the antigenic diversity of influenza viruses. As a result, there are variations in the sensitivity and specificity of diagnostic tests for influenza, which may have an effect on the test outcomes. This is a significant problem limiting the growth of the market for influenza diagnostics because false-negative results are more frequent than false-positive ones, especially during the height of influenza season.
Global Influenza Diagnostics Market Segmental Overview
The report analyses the global influenza diagnostics market based on the product, test type, end user, and region.
Global Influenza Diagnostics Market by Product
Based on the product, it is segmented into test kit & reagent, instrument, and other products. In 2021, the test kit & reagent segment accounted for the largest share of the influenza diagnostic market. The increasing prevalence of influenza coupled with the growing demand for rapid disease diagnosis are boosting the growth of the market.
Global Influenza Diagnostics Market by Test Type
Based on the test type, it is segmented into molecular diagnostic tests and traditional diagnostic tests. In 2021, the molecular diagnostic tests segment accounted for the largest share of the influenza diagnostics market. The various factors such as growth in influenza research for diagnostic technologies coupled with increasing prevalence of influenza is anticipated to drive the market.
Global Influenza Diagnostics Market by End User
Based on the end user, it is segmented into diagnostic laboratories, hospitals & clinics, and other end users. In 2021, diagnostic laboratories segment is accounted for largest share in the influenza diagnostic market. The increasing prevalence of influenza coupled with rising demand for rapid disease diagnosis is boosting the growth of the segment.
Geographical Analysis of the Global Influenza Diagnostics Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the global influenza diagnostics market. The North American influenza diagnostics markets growth is primarily attributed to the growth in influenza research for diagnostic technologies and increasing prevalence of influenza.
Major Players in the Global Influenza Diagnostics MarketCOVID-19 Impact
The onset of the COVID-19 pandemic has altered how medical treatment is provided globally. The COVID-19 pandemic has had a substantial impact on the market for influenza diagnostics; unfavorable changes in rules and standards, the closure of factories owing to lockdowns, and interruptions in supply chains have all had a negative impact on market growth. The availability of influenza diagnostics products to end customers has also been affected by restricted operations in the majority of businesses, insufficient funding for academic and research institutions, and difficulties in delivering necessary or post-sale services because of lockdowns. Additionally, there are significant parallels between COVID-19 and influenza; both COVID-19 and seasonal flu (influenza A and B) are infectious viruses and exhibit similar respiratory illness symptoms. Infection outbreaks typically happen between December and February. The COVID-19 outbreak happened at the same time as the flu season, which led to a rise in the use of influenza tests at that time. Despite the difficult situation, supply and distribution channels have restarted, and industries are gradually recovering from the damage.
Recent Developments
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