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Influenza Diagnostic Tests Market - By Test Type (Traditional Diagnostic Test {RIDT, DFAT, Viral Culture, Serological Assay}, Molecular Diagnostic Assay {RT-PCR, LAMP, NASBAT, SAMBA}), End-use & Forecast, 2023 – 2032
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Influenza Diagnostic Tests Market
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Base Year: 2022
Companies covered: 10
Tables & Figures: 291
Countries covered: 22
Pages: 180
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Influenza Diagnostic Tests Market Size
Influenza Diagnostic Tests Market size was valued at around USD 2.1 billion in 2022 and is estimated to witness 6.3% CAGR between 2023 and 2032. The growing prevalence of influenza, rising demand for rapid diagnostic tests, and increase in R&D activities are some of the key factors driving the market progression.
According to data from the World Health Organization, in 2023, there were around a billion cases of seasonal influenza annually, including 3–5 million cases of severe illness. Moreover, influenza causes 290,000 to 650,000 respiratory deaths annually around the globe. The rise in the incidence of influenza cases, especially during seasonal outbreaks, has led to an increased demand for accurate and rapid influenza diagnostic tests (RIDT) for timely identification and management of the infection. As a result, the rising influenza cases coupled with the high mortality rate are expected to drive the market progress.
Influenza diagnostic tests refer to a range of medical procedures and technologies designed to identify the presence of influenza viruses in individuals suspected of having an influenza infection. These tests play a crucial role in the timely and accurate diagnosis of influenza, allowing healthcare professionals to initiate appropriate interventions, treatment, and public health measures.
The market faces the potential risk of hindered growth due to stringent regulatory guidelines. These guidelines are implemented to uphold the safety and efficacy of diagnostic solutions, often resulting in lengthy approval processes for new influenza diagnostic tests. Companies may experience delays in bringing their products to market due to the comprehensive evaluations required by regulatory agencies. This, in turn, can impede the timely availability of innovative diagnostic solutions, potentially hindering the business landscape.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the influenza diagnostic tests market in 2020. The coexistence of COVID-19 and influenza heightened the global demand for accurate testing. Governments emphasized surveillance for both infections, altering testing strategies. Supply chain disruptions affected test kit production and distribution, leading to operational challenges at testing facilities. Despite a modest decline in growth initially, the market swiftly rebounded due to increased awareness among patients and caregivers.
Influenza Diagnostic Tests Market Trends
Rising advancements in influenza diagnostic tests intended to improve the speed, accuracy, and efficiency in the detection of influenza viruses will spur the business growth.
Influenza Diagnostic Tests Market Analysis
Based on test type, the market is segmented into traditional diagnostic test and molecular diagnostic assay. The traditional diagnostic test segment was valued at around USD 1.4 billion in 2022 and is expected to exhibit a robust growth trend throughout the analysis period.
Based on end-use, the influenza diagnostic tests market is segmented into hospitals, diagnostics centers, research laboratories, and others. The hospital segment is projected to reach more than USD 1 billion by the end of 2032.
The U.S. dominated the North American influenza diagnostic tests market with a significant market share in 2022 and is anticipated to expand at a notable pace to reach more than USD 1.2 billion by 2032.
Influenza Diagnostic Tests Market Share
The influenza diagnostic tests industry is fragmented in nature, with companies competing to offer superior influenza diagnostic tests in this business space. Prominent players such as F. Hoffmann-La Roche Ltd, Abbott, and Becton Dickinson and Company Inc hold a significant share in this market. These companies are diligently directing their efforts towards continuous type innovation to gain substantial market share.
Some of the eminent market participants operating in the influenza diagnostic tests industry include:
Influenza Diagnostic Tests Industry News:
Influenza diagnostic tests market research report includes an in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD (million) from 2018 to 2032 for the following segments:
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By Test Type, 2018 - 2032 (USD Million)
By End-use, 2018 - 2032 (USD Million)
The above information is provided for the following regions and countries: