Influenza Diagnostic Tests Market Size 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 Isother

Influenza Diagnostic Tests Market Size 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 End-use, Application Potential, Price Trends, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028

The market for influenza diagnostic tests would accrue massive proceeds over the span of 2022-2028. This can be backed by the growing prevalence of the influenza flu over the recent years. According to the Connecticut State Department of Public Health, a total of 265 influenza-associated hospitalizations were reported since the beginning of 2021-2022 season.

In addition, the World Health Organization claims that the annual influenza epidemics during winter and autumn affect nearly 5 to 15% of the population in the Northern hemisphere. Increase in such cases would foster the need for the development of diagnostic tests for influenza.

The overall influenza diagnostic tests market has been classified on the basis of end-use, test type, and regional landscape.

Considering the test type, the market is segmented into traditional diagnostic test and molecular diagnostic assay.

Out of these two, the industry would observe substantial growth from the molecular diagnostic assay segment, which was valued at more than $668 million. Going further, industry analysts expect the segment to expand at a CAGR of 8.5% through the analysis timeline. This can be credited to the test’s capability to deliver effective and accurate testing, which is in line with its ability to offer improved efficacy, resulting in enhanced outcomes.

From the end-use standpoint, the hospitals segment has been observing a stellar growth in the global influenza diagnostic tests market. The sector was valued at $565 million in 2021, with projections expecting it to grow at an unprecedented pace in the coming years. The growth would come from positive factors such as high success rate, availability of board-certified professional doctors, and faster and high effective work, amongst others.

Geographically, Latin America influenza diagnostic tests market has been gaining significant momentum over the recent years. In 2021, the regional market share was over $173 million, and is now predicted to grow at a CAGR of 8.3% over the stipulated time frame.

The regional industry development is supported by the growing pervasiveness of influenza and surging cognizance regarding the flu infection cases in the economies like Mexico, and Brazil, among others. A recent study displayed that seasonal influenza was associated with nearly 36,500 respiratory deaths and about 400,000 hospitalizations in Latin America and the Caribbean.

Abbott, Thermo Fischer Scientific Inc., Quidel Corporation, F. Hoffmann-La Roche Ltd., Meridian Bioscience Inc., DiaSorin SpA, and Dickinson and Company are some of the prominent companies operating in the global influenza diagnostic tests market.

These companies have been working upfront to introduce new products in the space. To illustrate, in 2021, Becton, Dickinson and Company announced receiving an Emergency Use Authorization for an advanced molecular diagnostic test for Influenza A+B and SARS-CoV-2. The tests can offer results in 2-3 hours and have been CE marked to the IVD Directive.