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What Is the Estimated Market Size of the Influenza Diagnostic Market In 2029?
In recent times, the influenza diagnostic market has seen significant expansion. It is projected to increase from a market value of $2.73 billion in 2024 to $2.89 billion in 2025, with a compound annual growth rate (CAGR) of 5.9%. Factors influencing this growth over the historical period include the surge in e-commerce, labor deficits, automation and productivity enhancements, optimization of the supply chain, an increase in labor costs, and government backing for automation and robotics.
What Growth Rate Is Forecasted for the Influenza Diagnostic Market by 2029?
The market size of influenza diagnostics is predicted to experience significant expansion in the upcoming years, anticipated to reach $4.01 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 8.5%. This projected growth during the forecast period can be credited to factors such as customization and scalability, environmental and sustainability objectives, the need to enhance operational efficiency, and the requirement to cater to the needs of current supply chain dynamics. Noteworthy trends expected during this forecast period incorporate the incorporation of cutting-edge technology, robotic selection and packaging, autonomous mobile robots, instant data gathering and analytics, AI-guided decision making, cooperative robots, and progress in robotic technology.
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Which Key Companies Are Shaping the Future of the Influenza Diagnostic Market?
Major companies operating in the influenza diagnostic market include F. Hoffmann-La Roche Ltd., Quidel Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Hologic Inc., Becton Dickinson and Company, DiaSorin SpA, Luminex Corporation, Meridian Bioscience Inc., GenMark Diagnostics Inc., SA Scientific Ltd., Sekisui Diagnostics LLC, bioMérieux Inc., Danaher Corporation, Siemens Healthineers AG, Coris Bioconcept Sprl, Mast Group, Elitech Technology lnc., Analytik Jena AG, altona Diagnostics GmbH, Tecan Trading AG, Genome Diagnostics Pvt Ltd., Germaine Laboratories Inc., Response Biomedical Corporation, TAUNS Laboratories Inc., TRUPCR Europe Ltd., Quest Diagnostics Inc., Labcorp Employer Services Inc., TotalWellness Ltd., Health Advocate Inc., Optum Global Solutions Private Ltd.
Which Factors Are Driving Demand in the Influenza Diagnostic Industry?
The influenza diagnostic market is projected to expand due to the increasing implementation of rapid diagnostic tests. These are medical techniques or tools that either confirm or negate the presence of a disease or condition. The escalating demand for immediate and accurate outcomes in healthcare is driving the proliferation of rapid diagnostic tests (RDTs). Rapid influenza diagnostic tests, also known as RIDTs, are capable of identifying influenza viral antigens in a mere 10-15 minutes with a moderate sensitivity of 50-70%. As an illustration, the Australian Institute of Health and Welfare, a government agency from Australia that disseminates information about health and diseases, revealed in July 2024, that the quantity of diagnostic imaging services escalated from 28.4 million in 2021–22 to 29.7 million in 2022–23. Therefore, the influenza diagnostic market’s growth is being propelled by rapid diagnostic tests.
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How Is the Influenza Diagnostic Market Segmented by Several Divisions?
The influenza diagnostic market covered in this report is segmented –
1) By Traditional diagnostic tests: Rapid influenza diagnostic tests (RIDT), Viral Culture, DFA, Serological assays, Other Traditional diagnostic tests
2) By Molecular diagnostic tests: Reverse Transcription Polymerase Chain Reaction (RT-PCR), Isothermal Nucleic Acid Amplification Tests (INAAT), Loop Mediated Isothermal Based Amplification Assays, Transcription Mediated Isothermal Based Amplification Assays, Transcription Mediated Isothermal Based Amplification Assays, Other Isothermal Nucleic Acid Amplification Tests, Other Molecular Diagnostic Tests
3) By End User: Hospitals And Clinical Laboratories, Diagnostic Reference Laboratories, Academic/Research Institutes, Other End Users
Subsegments:
1) By Rapid Influenza Diagnostic Tests (RIDT): Immunoassay-based Tests, Lateral Flow Assays, Enzyme Immunoassays (EIA)
2) By Viral Culture: Cell Culture, Egg-based Culture
3) By Direct Fluorescent Antibody (DFA) Test: Direct Fluorescent Antibody Staining
4) By Serological Assays: Hemagglutination Inhibition (HI) Assay, Enzyme-Linked Immunosorbent Assay (ELISA), Western Blotting Assay
5) By Other Traditional Diagnostic Tests: Polymerase Chain Reaction (PCR), Immunofluorescence Assays
What are the Emerging Market Trends Driving the Growth of the Influenza Diagnostic Industry?
Key players in the influenza diagnostic market, such as Lucira, are pioneering new products like the Lucira COVID-19 & Flu Home Test, a unique home-testing solution that gives rapid, qualitative results. This single-use at-home kit delivers outcomes from self-collected nasal swabs within approximately 30 minutes. For example, in February 2023, American pharmaceutical giant Pfizer Inc. obtained approval for this test, which can identify the presence of influenza A and B, widely referred to as the flu, and SARS-CoV-2 – the virus responsible for COVID-19.
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Which Regions Are Driving Growth in the Influenza Diagnostic Market?
North America was the largest region in the influenza diagnostics market in 2023. Western Europe was the second largest region in the influenza diagnostics market. The regions covered in the influenza diagnostic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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This Report Delivers Insight On:
1. How big is the influenza diagnostic market, and how is it changing globally?
2. Who are the major companies in the influenza diagnostic market, and how are they performing?
3. What are the key opportunities and risks in the influenza diagnostic market right now?
4. Which products or customer segments are growing the most in the influenza diagnostic market?
5. What factors are helping or slowing down the growth of the influenza diagnostic market?
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