Latest Influenza Diagnostic Market Growth Study 2022-2026 By The Business Research Company
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The influenza diagnostic market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 7%, as per The Business Research Company’s market report!
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The Influenza Diagnostic Market Size In 2022 And Forecast
The global influenza diagnostic market is expected to grow from expected to grow from $1.75 billion in 2021 to $1.89 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many influenza diagnostic markets across the globe. The market is expected to reach $2.53 billion in 2026 at a CAGR of 7.6%.
The influenza diagnostic market consists of sales of diagnostic tests used to diagnose influenza including viral culture, serology, rapid antigen testing, reverse transcription-polymerase chain reaction (RT-PCR), immunofluorescence assays, and rapid molecular assays.
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Increasing Funding For Research On Influenza Diagnostics Is Driving The Growth Of The Influenza Diagnostic Market
For instance, in 2019, the National Institute of Allergy and Infectious Disease (NIAID), part of the National Institutes of Health, has initiated the Collaborative Influenza Vaccine Innovation Centers (CIVICs) program, a new network of research centers that will work together to develop influenza vaccines. NIAID will provide up to approximately $51 million in total first-year funding for the program, which is designed to support the CIVICs program centers over seven years.
Competitive Landscape And The Regional Analysis Of The Influenza Diagnostic Market
Major players in the influenza diagnostic market are F. Hoffmann-La Roche Ltd, Quidel Corporation, Abbott Laboratories, Hologic, Becton Dickinson and Company, DiaSorin S.p.A., Luminex Corporation, Meridian Bioscience Inc. and GenMark Diagnostics.
The Influenza Diagnostic Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the influenza diagnostic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the influenza diagnostic market.
Rapid Influenza Diagnostic Tests – A Key Trend In The Influenza Diagnostic Market
RIDTs are immunoassays which can identify the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens and display the result in a qualitative way (positive vs. negative). It can yield results in a clinically relevant time frame of less than approximately 15 minutes and diagnose patients, who are present with influenza-like illness, mainly if it is performed within the first four days of the onset of symptoms. The rising popularity of RIDT is due to the benefits such as simple to use and rapid diagnosis.
Influenza Diagnostic Market Segmentation By The Business Research Company
1) By Traditional diagnostic tests: Rapid influenza diagnostic tests (RIDT), Viral Culture, DFA, Serological assays, Others
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 & Clinical Laboratories, Diagnostic Reference Laboratories, Academic/Research Institutes, Other End Users
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