Influenza Diagnostics Market: Information by Type of Flu (Type A Flu, Type B Flu, and Type C Flu), Test Type (Traditional Diagnostic Tests and Molecular Diagnostic Tests), End User (Hospitals & Clinical Laboratories), & Region—Global Forecast till 2023
Influenza Diagnostics Market Analysis
According to the analysis of Market Research Future (MRFR), the global influenza diagnostics market is anticipated to register a moderate CAGR of 7.80% to acquire a USD 954.512 million by 2023.
Influenza is a transmittable respiratory infection triggered by several flu viruses. Pandemics influenza is noted as a new flu virus strain that can quickly spread from person to person. Every year recurrent flu affects millions of people and results in thousands of hospitalizations and flu-related deaths. Growing geriatric patient population, the introduction of quadrivalent influenza vaccines, and growing disease awareness drive the growth of the global influenza diagnostics market. However, stringent regulations may hinder the growth of the market over the evaluation period.
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Influenza Diagnostics Market Segmental Analysis
The global market for influenza diagnostics is segmented based on type, tests, and end-users.
The types of influenza infections in the market are type A flu, Type B flu, and type C flu. The type-A flu segment is anticipated to lead the market and record a considerable CAGR to acquire USD 954.512 million by the end of the evaluation period. These viruses were majorly responsible for large annual epidemics in the past. Nevertheless, the type B flu segment is anticipated to exhibit the highest CAGR of 8.66% over the assessment period. The increase in government initiatives to reduce the prevalence of influenza, increasing awareness among consumers and the augmented risk of contracting influenza are anticipated to drive market growth over the forecast period.
The various kinds of tests available for the diagnosis of influenza are traditional diagnostic tests and molecular diagnostic tests.
Based on end-users, the influenza diagnostics market has been segmented into hospitals and clinical laboratories, and point of care testing.
Influenza Diagnostics Market Regional Analysis
Based on the region, the global influenza diagnostics market is analyzed in the Americas, Europe, asia Pacific, and the middle east and Africa.
The Americas (North America and Latin America) account for the largest market share and are likely to retain their lead over the forecast period. The market growth in this region is primarily attributed to the growing prevalence of influenza among the geriatric population, and the availability of advanced healthcare facilities in this region.
The European market for influenza diagnostics is anticipated to be the second-largest during the review period. The growing number of pharmaceutical companies exporting their products abroad or within Europe is projected to contribute to market growth. The factors accountable for the market growth in this region are an increase in disease awareness among consumers, initiatives taken by governmental and advisory bodies to ensure vaccination procedures against influenza, and a surge in the size of the aging population. The influenza diagnostics market in Europe is predicted to be impacted by several other factors the review period, such as the numerous favorable factors such as the introduction of innovative technologies, affordable pricing, reimbursement, unmet medical necessities in certain regions, and strong clinical pipeline.
Asia-Pacific is assessed to be the fastest growing market owing to the developing healthcare infrastructure. Due to the growing prevalence of other diseases such as cardiovascular, endocrinology, lymphatic systems, and respiratory disorders, the market growth for influenza diagnostics is expected to rise over the evaluation period. The increasing efforts taken by the governments to increase consumer awareness, provide suitable vaccines, and fulfill the unmet needs in certain countries, is substantially driving the market growth over the assessment period.
The Middle East and Africa region (MEA) are expected to acquire the smallest market share in the forecast period, owing to the weak healthcare sector in certain parts of Africa. The Middle East is likely to contribute to the majority of the market share registers from this region.
Influenza Diagnostics Market Key Players
The key players identified in the global influenza diagnostics market are Abbott, Analytik Jena AG, Becton, Biocartis, Cepheid, bioMérieux Inc, DiaSorin S.p.A., Dickinson and Company, GenMark Diagnostics, Inc., Luminex Corporation, F. Hoffmann-La Roche Ltd, Meridian Bioscience, Inc., SA Scientific, Quidel Corporation, Thermo Fisher Scientific Inc.
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