Influenza Diagnostics Market is Poised to Register CAGR of 3.5% by 2031 | SkyQuest Technology

Influenza Diagnostics Market will reach a value of USD 1.46 Billion by 2031, with a CAGR of 3.5% during the forecast period (2024-2031).

Westford, USA, Oct. 23, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Influenza Diagnostics Market will reach a value of USD 1.46 Billion by 2031, with a CAGR of 3.5% during the forecast period (2024-2031). Advancements in molecular and biomedical technology have presented many tools and assays helpful in the detection and treatment of influenza infections. New technologies based on proteomics, such as microarray detection, and genomics, such as PCR, make it easier to develop new influenza viruses. In addition, they give the diagnostics market a chance for influenza diagnostics through them as they allow improved surveillance and faster detection of viral disorders. Furthermore, due to the weakening of their immune systems, old people are more susceptible to several diseases, for instance, influenza. Individuals with weakened immunity, including those with chronic conditions, are also more susceptible to the disease. Due to the high population of susceptible people that has been on the increase, demand for influenza diagnostics products, which in turn has resulted in a tremendous increase of the influenza diagnostics market, has been rising.

Browse in-depth TOC on the “Influenza Diagnostics Market”

Pages – 165

Tables – 62

Figures – 75

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Influenza Diagnostics Market Overview:

Influenza Diagnostics Market Segmental Analysis

The Global Influenza Diagnostics Market is segmented based on Test Type, End-User, and Region.

Based on Test Type, it is categorized into Traditional Diagnostic Test and Molecular Diagnostic Assay. The Traditional Diagnostic Test segment is further bifurcated into RIDT, Viral Culture, Direct Fluorescent Antibody (DFA) Test, and Serological Assay. Molecular Diagnostic Assay is sub-segmented into RT-PCR, Nucleic Acid Sequence-based Amplification (NASBA) Test, Loop-mediated Isothermal Amplification-based Assay (LAMP), Simple Amplification-based Assay (SAMBA), and Other Molecular Diagnostic Assays.

By End User, the Influenza Diagnostics Market studied is segmented into hospitals, Laboratories, and Other End Users.

Based on the region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

High Efficacy Drives RIDT Adoption in Influenza Testing

As of 2023, Rapid Influenza Diagnostic Tests dominated the market with 30.88% share in revenue globally. This dominance has been related to the rise in the adoption of RIDTs due to excellent performance and the accuracy of results. Besides, according to CDC, compared with more complex RT-PCR test, RIDTs cleared by FDA must have at least 80% sensitivity to detect influenza A and B viruses. Over the recent past, healthcare workers applied RIDTs to identify influenza rapidly as it possesses satisfactory performance.

Effective Results and Ease of Use is Expected to Drive POCT Adoption

In the forecast period, Point of Care Testing is expected to witness the highest CAGR. POC settings are where most RIDTs with CLIA exempted are normally used. Simple handling, high specificity and sensitivity, rapid turn-around times, and effective results are some of the significant drivers for the market’s growth. Technological advancements in POC test kits providing error-free results in fewer turnaround times shall boost market growth in the coming years. And therefore, rising prevalence rates of this disease during the analysis period are expected to propel sector growth.

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U.S. Healthcare Infrastructure Drives North American Market Supremacy

In the market share of influenza diagnostics, North America led at an impressive 32.69% in 2023. Major emphasis on controlling influenza with deep governmental investments for quality healthcare and immense consumer buying power were the bases for such growth. North America’s largest share was led by the US due to its established healthcare system and ever-increasing funding for initiatives related to influenza diagnostic services. Through enhanced early diagnosis and treatment of influenza, these programs are predicted to witness the potential for growth in the market to increase in the future.

Influenza Diagnostics Market Insights

Drivers

• Rising Prevalence of Influenza Viruses
• Government Initiatives and Fundings
• Growing Awareness and Acceptance of Diagnostic Testing

Restraints

• High Costs of Advanced Diagnostic Technologies
• Regulatory Challenges
• Limited Testing Capacity in Certain Regions

Key Players Operating in the Influenza Diagnostics Market

• Thermo Fisher Scientific, Inc.
• Roche Diagnostics
• Abbott Laboratories
• Becton, Dickinson and Company
• Quidel Corporation
• DiaSorin S.p.A.
• bioMérieux SA
• Meridian Bioscience, Inc.
• Luminex Corporation
• Hologic, Inc.
• F. Hoffmann-La Roche Ltd.
• Cepheid Inc.
• Sekisui Diagnostics LLC
• GenMark Diagnostics, Inc.
• Quanterix Corporation
• Alere Inc.
• Merck KGaA
• Hologic, Inc.
• Scienion AG
• Enzo Biochem, Inc.

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Key Questions Covered in the Influenza Diagnostics Market Report

• What are the factors driving the growth of the global influenza diagnostics market?
• Which is the dominant test-type segment within the market?
• What are the key strategies adopted by major players operating in the market?

This report provides the following insights:

Analysis of key drivers (rising government initiatives, increasing prevalence of Influenza viruses), restraints (high costs of advanced diagnostic technologies, regulatory challenges), opportunities (rising demand for home-based testing kits, integration of AI and data analytics), and challenges (seasonal variability in demand, rapidly evolving virus strains) influencing the growth of the influenza diagnostics market.

• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the influenza diagnostics market.
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the influenza diagnostics market.
• Market Development: Comprehensive information on lucrative emerging regions.
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market.
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

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