The growing incidence of influenza and the increasing need for rapid and accurate testing is propelling the market demand.

The global Influenza Diagnostics market is forecast to reach USD 1.15 Billion by 2027, according to a new report by Reports and Data. The market is growing due to the increase in the incidence of influenza all over the world. An increase in the geriatric population, coupled with increasing rising prevalence of chronic diseases, is driving market demand. The emergence of advanced technologies, development in therapies, and growing funding by the government in research and development for influenza diagnostics are other factors that are boosting the demand of the market.

The cost of healthcare is increasing over time, and new diagnostic tests approval is a whole complex regulatory framework that takes up a lot of time. These factors are limiting the market growth. The prevalence of influenza in different forms and affecting more and more people with increased intensity. The Spanish influenza pandemic in 1918 and the Ebola outbreak in the year 2014-2016 are examples of the havoc the disease can wreak. This has created a cause of concern among the government and the World Health Organizations. There is a dire need for new and effective therapy to prevent the spread. In 2018, there were 69,007 people diagnosed from the disease out of which 67,733 suffered from type A virus while 1,274 with the type B. The virus is continuously growing in the South-East Asia region.

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The global Influenza Diagnostics market is expected to reach. This can be attributed to factors such as rising prevalence of chronic diseases, infections, rapidly growing healthcare and medical sectors, improving healthcare infrastructure and research centers, and increasing adoption of latest equipment and medical devices in medium to large scale hospitals, clinics and ambulatory care centers. In addition, high adoption of latest treatment facilities across several healthcare sectors, government initiatives to create awareness about diseases, increasing funds by public and private sectors, and growing demand for home care devices and point of care diagnosis are expected to fuel global market revenue growth going ahead.

Competitive Landscape:

The report also covers the competitive landscape with extensive profiling of the key competitors. It covers recent product developments, joint ventures, product launches, technological advancements, mergers and acquisitions, collaborations, and partnerships. Some of the key players operating in the global market are Thermo Fisher Scientific Inc., Hologic Inc., Diasorin SA, Becton Dickinson Company, Meridian Bioscience, Siemens Healthineers, F. Hoffmann-La Roche AG, Danaher Corporation, Luminex Corporation, and Genmark Diagnostics, Inc., among others.

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Market segment analysis:

By Region:

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East Africa
  • Saudi Arabia
  • A.E.
  • South Africa
  • Rest of MEA

Flu Type Outlook (Revenue, USD Million; 2017-2027)

• Type A
• Type B
• Type C

Test Type Outlook (Revenue, USD Million; 2017-2027)

• Traditional Diagnostic Tests
• Molecular Diagnostic Tests

End Use Outlook (Revenue, USD Million; 2017-2027)

• Hospitals
• Clinical Laboratories
• Point of Care Testing

Further key findings from the report suggest,

• Rapid influenza diagnostic tests or RIDTs are the most commonly done test on patients to check if they are influenza-positive or not. These tests are popular as they produce results in less than 15 minutes and are quite simple to perform. Some of them are also cleared for bedside use and can be used in point of care testing places as well. Moreover, these tests are cost-effective, as well.
• Type A flu is the virus that is capable of infecting animals, although it is more common for people to suffer from the ailment associated with the flu. Wild birds commonly act as a host for this virus. This virus is the one responsible for large flu epidemics. The segment held a market share of 39.6% in the year 2019.
• Hospitals are the largest end users of the market product. The treatment of the disease is done mainly in the hospitals owing to its complex nature and technologically advanced product. It held the largest market share of 41.9% in the year 2019.

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