Influenza Testing Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3670
Influenza Testing Market size is projected to experience significant growth from 2019 to 2025.
The influenza testing market is estimated to witness considerable growth over the forth coming years. High growth is attributed to increasing prevalence of influenza and related chronic diseases. As per Centers for Disease Control and Prevention (CDC), influenza causes 12,000 to 79,000 deaths annually in the U.S. Moreover, increasing awareness among the population about several diagnostic test for the early detection and prevention of influenza will further augment market growth.
Growing research funding for influenza diagnostic testing is a major growth driver. For instance, Diassess Inc., a next generation infectious disease testing company received USD 21.9 million in government funding for developing its breakthrough flu diagnostic technology to use in physician’s offices and eventually in consumer’s home. Hence, increasing government initiatives for influenza diagnostic testing will propel market growth.
However, presence of a stringent regulatory framework for the approval of new diagnostic tests and variability in specificity and sensitivity among influenza diagnostic tests will obstruct the growth of influenza testing market. Moreover, increasing healthcare cost is another major growth restricting factor.
The Rapid Influenza Diagnostic Test (RIDT) segment is expected to witness substantial growth over the forecast period. Traditional diagnostic tests are gaining popularity around the world. These tests help in detecting the presence of influenza B and A viral antigens in respiratory samples and display the results in a qualitative format. Rapid Influenza Diagnostic Tests (RIDT) can yield results in a clinically relevant time slot of less than 15 minutes. Hence, advantages of RIDTs includes, point of care testing and appropriate results in relevant time frame thus, leading to market growth.
The hospital segment is expected to hold major chunk of revenue over the forecast period. Hospitals offer state-of-the-art facilities for appropriate influenza diagnostic tests at an affordable rate. Moreover, influenza testing is recommended for hospitalized patients with suspected influenza. Molecular diagnostic tests such as RT-PCR and Nucleic Acid Sequence-based Amplification (NASBA) test are mostly performed in hospitals owing to availability of desired healthcare settings. Additionally, increasing preference of people in the developing economies for hospitals over other medical facilities due to affordability will further augment market growth.
The U.S. is expected to witness substantial growth over the forecast period owing to the presence of well-developed healthcare infrastructure, skilled professionals and technological advancements. Furthermore, increasing prevalence of influenza in the U.S. will further propel market growth. Additionally, rising initiatives by the government to manufacture advance technologies with the aim to deliver efficient results for influenza testing is another major reason to escalate market growth.
China is expected to witness significant growth in the influenza testing market during the analysis period. High growth is attributed to increasing prevalence of influenza in various parts of China. As per World Health Organization (WHO), China is among the major countries to be infected with the avian influenza A(H7N9) virus, thus augmenting market growth across the forecast timeframe.
Some of the key industry players include Alere Inc., Meridian Bioscience, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, QIAGEN, Roche Diagnostics, Abbott, and Luminex Corporation. Key strategies adopted by industry players include strategic collaborations, partnerships, mergers, and innovative product launch to expand their business product portfolio.
Influenza Testing Market by Test Type, 2014-2025 (USD Million)
- Traditional diagnostic test
- Rapid Influenza Diagnostic Test (RIDT)
- Direct Fluorescent Antibody (DFA) Test
- Viral culture
- Serological assay
- Molecular diagnostic assay
- Loop-mediated Isothermal Amplification-based Assay (LAMP)
- Nucleic Acid Sequence-based Amplification (NASBA) test
- Simple Amplification-based Assay (SAMBA)
- Other diagnostic tests
Influenza Testing Market by End-use, 2014-2025 (USD Million)
- Research laboratory
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Alere Inc.
- Meridian Bioscience, Inc.
- Thermo Fisher Scientific, Inc.
- Becton, Dickinson and Company
- Roche Diagnostics
- Luminex Corporation
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