Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Influenza Diagnostics market promulgates due to the rise in the incidence of influenza across the world and the rising demand for rapid disease diagnosis
The global influenza diagnostics market projected to grow at a CAGR of over 7.5% during the forecast period, 2020-2027. It is primarily attributed to the growing amount of research and development, technological advancements in diagnostic tests, and increasing demand for influenza diagnosis. Additionally, the rising aging population as old aged people are more vulnerable to influenza along with the introduction of technologically advanced influenza diagnostic tests that will spur the growth of global influenza diagnostics market size in the next few years. Moreover, growing awareness about the disease coupled with the rising healthcare expenditure, various governments' authorities dedicated towards R&D of influenza treatments and diagnostics are projected to trigger the global influenza diagnostics industry.
Furthermore, the upsurge in the geriatric population, which is a high risk of contracting influenza and the increase in chronic disease around the world, are fuelling the demand for influenza diagnostics products. Technological developments in advanced influenza diagnostic tests and the rising prevalence of chronic diseases across the globe will trigger the growth of the global influenza diagnostics market in the forecast span. Also, the upsurge in awareness regarding influenza, especially in the developing regions and the rise in healthcare expenditure by governments towards R&D of influenza diagnosis and therapeutic will boost the growth of influenza diagnostics market share.
Further, recent diagnostics test such viral nucleic acid detection based on fast multiplex PCR has the advantages of rapid detection speed, high sensitivity, and specificity, simultaneous detection of multiple common respiratory pathogens and accurate typing, etc., which can better help clinical respiratory infection diagnosis and treatment.
Test Type Overview in the Global Influenza Diagnostics Market
Based on Test type, the global influenza diagnostics market classified into Traditional Diagnostic Tests (RIDT, Viral Culture, DFA, and Serological Assays), Molecular Diagnostic Tests(RT-PCR, Isothermal Nucleic Acid Amplification Tests, and Others) and Others. The RIDT will be the fastest-growing segment in the forecast period. It is attributable to these tests are antigen detection assesses that detect influenza viral antigens within 10 to 15 minutes with high specificity. It can detect the presence of influenza type A and B in specimens.
RT-PCR will grow with a significant rate in the forecast period due to these tests potentially determine the influenza virus type (A and B viruses), and the chance for negative or false-positive results are very low.
End-User Overview in the Global Influenza Diagnostics market
Based on end-user, the global influenza diagnostics market segregated into hospitals, Clinical Laboratories, Research Centers, and Point of Care Testing Centers. The hospital held for the highest revenue in 2019 due to the hospitals are long-term care facilities, which are the primary end-use segment in underdeveloped and developing countries, as most people rely on them for diagnosing influenza.
Point of Care Testing Centers will be the fastest-growing segment during the forecast period as POCT is primarily used for influenza diagnostic testing kits and technological advancements in the POC test kits, which take shorter turnaround times and error-free result.
Regional Overview in the Global Influenza Diagnostics Market
By geography, the Global Influenza Diagnostics Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for maximum revenue share in 2019, owing to the huge arrangement of influenza-associated hospitals, the presence of healthcare reimbursement schemes and research institutions, and a strong focus of the U.S. CDC on controlling the disease rates.
Global Influenza Diagnostics Market: Competitive Landscape
Companies such as F. Hoffmann-La Roche AG, Quidel Corporation, Thermo Fisher Scientific, Abbott Laboratories, Hologic, Becton, Dickinson, and Company, DiaSorin S.p.A, Luminex Corporation, Meridian Bioscience, GenMark Diagnostics, SA Scientific, Sekisui Diagnostics, bioMérieux SA, Danaher Corporation, Siemens Healthineers, Tecan Trading AG, ELITech, Mast Group, Altona Diagnostics, Coris BioConcept, and Genome Diagnostics are the key players in the global influenza diagnostics market.