Influenza Diagnostics Market Size 2024-2028

The Global Influenza Diagnostics Market size is forecast to increase by USD 517.5 million at a CAGR of 7.22% between 2023 and 2028. Market expansion hinges on several key factors, notably the increasing incidence of influenza, which drives the demand. As the prevalence of infectious diseases rises, there's a corresponding need for advanced diagnostic tools capable of accurate and rapid detection. The growing adoption of molecular diagnostics, with its ability to identify specific pathogens and genetic markers, further propels market growth. Additionally, supportive government initiatives and funding play a crucial role in driving research, development, and accessibility of these diagnostic technologies. By fostering innovation and incentivizing healthcare providers to adopt advanced diagnostic solutions, governments contribute to the expansion of the market, ultimately leading to improved public health outcomes.

What will be the size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The Market encompasses various diagnostic tools and interventions used for the detection of influenza infection in severe illness cases leading to respiratory deaths. The World Health Organization emphasizes the importance of rapid diagnostic tests, such as Molecular diagnostics (Viral culture tests and Serology tests), and Rapid antigen tests, in healthcare providers' decision-making processes for initiating appropriate medical procedures. Diagnostic technologies, including Viral culture tests and Serology tests, play a crucial role in influenza diagnosis. Research industries continuously invest in developing more sensitive and specific diagnostic tools to minimize false-negative and false-positive results. The Regulatory framework governs the use and implementation of diagnostic tests in Diagnostic Laboratories, Hospitals, and clinics within the medical sector. Traditional diagnostic tests, such as Rapid antigen tests, remain widely used due to their affordability and ease of use. In summary, the Market is a significant component of the healthcare system, providing essential diagnostic tools and interventions for the timely and accurate detection of influenza infections. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The rising incidence of influenza is notably driving market growth. Influenza is a common viral infection that affects a significant portion of the global population each year.  Increased demand for diagnostic tests in order to detect early and manage appropriately is caused by an increasing number of influenza cases. The market is expanding to meet growing test needs, due to the continued rise in cases of flu. These outbreaks result in a sudden surge in flu cases, creating a heightened demand for diagnostic testing to identify and track the spread of the virus. Diagnostic manufacturers respond to this seasonal demand by supplying healthcare facilities with flu diagnostic kits and assays. 

 The rising number of cases of epidemic strains in hospitals, clinics, and laboratory systems. Reliable and efficient monitoring are required by healthcare facilities to make sure that they have effective handling of larger numbers of patients during the influenza season. As a result, there is a growing demand for flu identification to aid in patient triage, treatment decisions, and infection control efforts. Such factors are expected to drive the growth of the global market during the forecast period.

Significant Market Trends

The rising adoption of rapid diagnostic products in physician office laboratories is a primary trend inmarket. The market in focus is witnessing the rising focus of manufacturers on offering low-cost and rapid tests based on immunoassays. Moreover, in order to obtain rapid test results and timely diagnosis at the clinical visit of patients, it is possible that these tests are being used widely by medical laboratories across physicians' offices. Owing to benefits from Medicare billing in the US, there has been a consistent rise in the number of physician office laboratories that have been set up.

The promotion of physician office laboratory practices is increasing owing to their support toward value-based care programs and quality payment programs through a reduction in the chances of patients undergoing hospital care. This has largely helped in promoting the adoption of physician office laboratory practices, which is contributing to the demand for epidemic testing products in such laboratories. This has mainly facilitated the adoption of laboratory practices in doctors' offices, which are contributing to the demand for epidemic testing products at these laboratories. Such factors are expected to drive the growth of the global market during the forecast period.

Major Market Challenge

The lack of laboratory infrastructure in developing regions is a major challenge faced by the market. Many developing countries face challenges in establishing and maintaining well-equipped laboratory facilities for epidemics. This limited access to diagnostic facilities hinders the timely and accurate diagnosis of influenza cases. Inadequate infrastructure, lack of trained personnel, and limited availability of diagnostic tools and reagents contribute to the challenge. The lack of laboratory infrastructure often results in limited testing capacity in developing countries. 

 It can be difficult to set up and maintain consistent laboratory infrastructure in developing countries with large geographical areas as well as remote regions. There is a lack of sufficient lab facilities in remote areas, which means that timely epidemic cure are impossible to obtain particularly in those regions where health systems are not well established. This challenge hampers disease surveillance efforts and the ability to track and respond to flu outbreaks effectively. Such factors are expected to pose a challenge to the growth of the global market during the forecast period.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Abbott Laboratories - The company offers a test kit called Alinity m Resp 4 Plex test.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:

• Abbott Laboratories
• Becton Dickinson and Co.
• BICO Group AB
• Bio Rad Laboratories Inc.
• Biocartis Group NV
• bioMerieux SA
• Danaher Corp.
• DiaSorin SpA
• F. Hoffmann La Roche Ltd.
• Hologic Inc.
• Princeton BioMeditech Corp.
• QIAGEN NV
• Response Biomedical Corp.
• SA Scientific Ltd.

Qualitative and quantitative market growth analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

The market share growth by the hospitals and diagnostic laboratories segment will be significant during the forecast period. The hospital and diagnostic laboratories segment is a significant segment of the global market. These refers to the tests and procedures used to detect and diagnose these infections. The use of flu diagnostic tests in hospital and laboratory settings is the focus of this segment. Millions of people in the world are affected by this epidemic each year, a highly contagious respiratory disease.

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The hospitals and diagnostic laboratories showed a gradual increase in the market share of USD 628.10 million in 2018 and continued to grow by 2028. Hospitals and diagnostic laboratories handle a substantial number of cases, requiring efficient and accurate diagnostic tools to identify the virus and determine appropriate treatment strategies. The hospital and diagnostic laboratories shall take the utmost care to provide rapid diagnosis and effective treatment for influenza. Rapid and reliable monitoring, which can help to reduce the spread of influenza in healthcare facilities, enable health professionals to take informed decisions on how patients will be treated, isolation measures, antivirals, or prevention strategies. Hence, such factors are fuelling the growth of this segment during the forecast period.

Which are the Key Regions for the Market?

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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is the major revenue contributor to the global market, owing to the growing support from the US FDA in R&D for the development of new test kits and platforms.  In North America, influenza is an important public health problem and seasonal flu outbreaks occur every year. Infrastructure is helping to ensure that different instruments are made available. The area is well served by continued technological progress in this field. Hence, such factors are driving the market in North America during the forecast period.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments

• End-user Outlook 
  • Hospitals and diagnostic laboratories
  • Academic and research centers
  • Homecare

• Type Outlook 
  • Point-of-care testing
  • Immunodiagnostics
  • Molecular diagnostics

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Australia 
    • Argentina
    • Rest of the World

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Market Analyst Overview

The market is witnessing growth due to the demand for rapid disease diagnosis, especially given the prevalence of influenza. The market encompasses various diagnostic technologies including viral culture tests, serology tests, and rapid antigen testing like RT-PCR. These technologies cater to a wide range of healthcare settings, from large hospitals and diagnostic centers to small-scale clinics and research industries.

In response to the evolving landscape, diagnostic solutions are advancing, supported by collaborative efforts such as Collaborative Influenza Vaccine Innovation Centers (CIVICs). Specificity of diagnostic tests is crucial in minimizing false-negative and false-positive results, emphasizing the importance of a robust regulatory framework governing test kits and reagents. The market is witnessing a shift towards molecular diagnostic tests over traditional diagnostic methods, driven by the need for accuracy and efficiency. As diagnostic technologies continue to evolve, the market is poised to play a pivotal role in effective disease management and control, offering timely and accurate diagnoses to healthcare providers and patients alike.

The market is witnessing significant growth driven by a multitude of factors, including the rising incidence of influenza and the demand for rapid diagnostic tests. As per the World Health Organization, influenza continues to pose a substantial burden globally, leading to severe illness and respiratory deaths. To combat this, healthcare professionals rely on a variety of diagnostic tools, ranging from traditional tests to molecular diagnostics techniques. The market landscape depends on Test Type, molecular diagnostics technique, traditional diagnostic test, molecular diagnostic assay, serological assay, Traditional diagnostic tests, Hospitals and clinics, Health and personal care. Molecular diagnostics, including multiplex assays, have emerged as powerful tools for identifying respiratory pathogens such as influenza viruses. These tests offer superior sensitivity and specificity compared to traditional diagnostic methods, reducing the risk of false-negative results. Moreover, rapid antigen tests enable quick detection of influenza in point-of-care settings like urgent care centers and primary care offices.

Government interventions and public health measures further bolster the market, fostering research and development in influenza diagnostics. Hospitals, clinics, and research laboratories play a pivotal role in the adoption of these diagnostic assays, supported by robust healthcare infrastructure. Product segmentation within the market ensures tailored solutions to address the diverse needs of healthcare providers and patients. Serological assays, antigen tests, and molecular diagnostic assays cater to different settings and disease presentations, contributing to effective disease management and containment. In essence, the market continues to evolve, driven by innovation and the collective efforts of the medical sector to mitigate the disease burden and improve public health outcomes.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2028
• Precise estimation of the market in focus on the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and the Rest of the World (ROW)
• Through market growth and forecasting analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report analysis of factors that will challenge the growth of market vendors

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