-- U.S. influenza diagnostic tests market is expected to witness significant growth at 6.3% over the forecast period due to presence of skilled professionals, well-developed healthcare infrastructure and technological advancements coupled with growing influenza prevalence in the country. Additionally, growing initiatives by the government to manufacture advanced technologies with the aim to deliver efficient results for influenza testing is another major reason to escalate market growth.
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Influenza Diagnostic Tests Market will exceed USD 1.5 Billion by 2025. Influenza diagnostic tests market is projected to witness significant growth over the upcoming years. The rapid growth is attributed to rise in prevalence of influenza and related chronic diseases across the globe. As per the recent statistics published by Centers for Disease Control and Prevention (CDC), influenza is the cause for around 12,000 to 79,000 deaths annually in the U.S. Moreover, growing awareness among the population regarding several diagnostic tests for early detection and prevention of influenza will result in high demand and adoption of influenza diagnostic tests, augmenting overall industry growth.
Influenza diagnostic tests in pediatric is estimated to grow at 7.7% over the projection period. Increase in the burden of influenza in pediatrics will drive the growth of influenza testing market over the forthcoming years. According to the Centers for Disease Control and Prevention (CDC), morbidity and mortality related to influenza is high among the children under two years of age than adults. Hence, growing influenza prevalence in children will augment the segmental growth during the foreseeable future.
Increase in research funding and recent technological developments for influenza diagnostic tests will be a major market growth driver. Recent technological advancements has resulted in growing use of rapid influenza diagnostic tests. Rapid influenza diagnostic test (RIDT) segment is estimated to witness substantial growth over the forecast period. These tests are antigen detection assays that help in detecting influenza in around 15 minutes with high accuracy and specificity. RIDT is capable of detecting the presence of influenza antigens in the samples and display the result precisely. Hence, growing application of rapid influenza diagnostic tests will enhance the business growth in the forthcoming years.
China influenza diagnostic tests market was valued at around USD 70.4 million in the year 2018. The growth of the market is attributed to rise in prevalence of influenza along with several initiatives taken by the government to raise awareness regarding influenza diagnostics and treatment. As per the World Health Organization (WHO), China is considered to be one of the major countries with high influenza prevalence rate. Hence, aforementioned factors will play a significant role in augmenting China market growth across the forecast timeframe.
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Influenza diagnostic tests using traditional diagnostic method was valued at around USD 594.8 million in the year 2018. Traditional diagnostic tests are gaining significance across the globe owing to rapid detection of influenza antigens by the rapid influenza diagnostic test (RIDT) and display of accurate results in a qualitative format. Rapid influenza diagnostic tests (RIDT) yield results in relevant time slot of less than 15 minutes. Hence, numerous advantages of traditional diagnostic methods will lead to considerable market growth.
Some of the notable companies operating in influenza diagnostic tests market include Extremity Medical, Stryker Corporation, Zimmer Biomet Holdings, Arthrex, Smith & Nephew Plc, Integra LifeSciences Holdings Corporation, Acumed LLC., Tornier N.V. and Wright Medical Technology. Major strategies adopted by these industry players include strategic collaborations, mergers, partnerships, and innovative product launch to expand their business product portfolio and consolidate market position.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Influenza Diagnostic Tests Industry Insights
Chapter 4. Influenza Diagnostic Tests Market, By Influenza Type
Chapter 5. Influenza Diagnostic Tests Market, By Test Type
Chapter 6. Influenza Diagnostic Tests Market, By Patient
Chapter 7. Influenza Diagnostic Tests Market, By End-use
Chapter 8. Influenza Diagnostic Tests Market, By Region
Chapter 9. Influenza Diagnostic Tests Market Company Profiles
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Related Report:
Global Influenza Diagnostic Equipment Market Insights, Forecast to 2025
Influenza, which is commonly called the flu is an infectious disease of the upper respiratory system caused by the influenza virus. The seasonal influenza virus has three types, namely influenza B, influenza A, and influenza C that are differentiated on the basis of two major surface proteins namely, hemagglutinin (HA) and neuraminidase (NA). Various serotypes are seen based on differences in these surface proteins that determine the antibody response to the viruses.
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