Influenza Diagnostics Market Expected to Exceed USD 2.0 billion by 2031, at a CAGR 5.6%| Analysis by Transparency Market Research, Inc.
Growing demand for convenient, user-friendly home testing kits enhances accessibility and encourages early influenza detection.
Wilmington, Delaware, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global influenza diagnostics market is estimated to flourish at a CAGR of 5.6% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for influenza diagnostics is estimated to reach US$ 2.0 billion by the end of 2031.
A prominent factor is the increasing integration of data analytics and artificial intelligence (AI) into diagnostic systems. AI-driven algorithms enhance data interpretation, aiding in the rapid and accurate identification of influenza strains while predicting potential outbreaks. This technology streamlines diagnostic processes, enabling healthcare providers to respond swiftly and effectively.
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The advent of multiplexing technologies introduces a new dimension to diagnostics. Multiplex assays allow simultaneous detection of various pathogens, including multiple influenza strains, within a single test. This innovation reduces time and resources, providing comprehensive diagnostic information promptly, thereby expediting treatment decisions.
The emergence of novel biomarkers for influenza detection is gaining attention. Research explores unconventional biological indicators associated with the virus, enhancing diagnostic specificity and accuracy. Incorporating these biomarkers into diagnostic assays promises improved detection capabilities and better differentiation between influenza strains and other respiratory infections.
Influenza Diagnostics Market: Competitive Landscape
The influenza diagnostics market is characterized by intense competition characterized by key players such as Roche Diagnostics, Abbott Laboratories, and BD. These industry leaders dominate with their comprehensive product portfolios comprising rapid antigen tests, PCR-based assays, and molecular diagnostic kits.
Emerging contenders like Luminex Corporation and Quidel Corporation leverage technological advancements to introduce innovative point-of-care solutions. Strategic collaborations, mergers, and acquisitions drive market expansion and innovation.
The market benefits from the influx of novel technologies, including AI-driven diagnostics and portable testing platforms, reshaping the competitive landscape by emphasizing accuracy, speed, and accessibility in diagnosing influenza strains to meet global healthcare demands. Some prominent manufacturers are as follows:
- F. Hoffmann-La Roche Ltd.
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- Goldsite Diagnostics, Inc.
- Hologic Inc.
- DiaSorin S.p.A.
- Meridian Bioscience, Inc.
- QuidelOrtho Corporation
- SA Scientific Ltd.
- Sekisui Diagnostics
- Siemens Healthineers
- Thermo Fisher Scientific
Key Findings of the Market Report
- Type A flu virus segment leads the influenza diagnostics market due to its prevalence and potential for varied strains and severity.
- RT-PCR tests stand as the leading test type segment in the influenza diagnostics market due to high accuracy and sensitivity.
- Kits & reagents emerge as the leading product type segment in the influenza diagnostics market due to widespread usage and accessibility.
Influenza Diagnostics Market Growth Drivers & Trends
- Continuous innovation in diagnostic tools, including rapid antigen tests and molecular assays, drives accuracy and efficiency in influenza detection.
- Increasing outbreaks globally fuel demand for reliable and rapid diagnostic solutions, emphasizing early detection and containment.
- Growing adoption of point-of-care testing facilitates rapid and decentralized influenza diagnosis, enhancing patient access and treatment initiation.
- Focus on developing diagnostics with improved sensitivity and specificity ensures accurate identification of influenza strains, aiding in targeted treatment.
- Heightened awareness and preparedness initiatives post-pandemic drive investments in robust diagnostic infrastructure, strengthening healthcare systems’ resilience.
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Global Influenza Diagnostics Market: Regional Profile
- In North America, advanced healthcare infrastructure and robust R&D investments drive market growth. Leading companies like Roche Diagnostics and Abbott Laboratories dominate with sophisticated diagnostic tools, fostering a high-demand market for accurate and rapid influenza testing solutions.
- Europe shows a strong emphasis on early diagnosis and preventive healthcare strategies. Countries like Germany and the United Kingdom witness innovation from companies such as BD and Quidel Corporation, providing a wide array of influenza diagnostic assays, fostering a competitive market.
- The Asia Pacific region experiences rapid market expansion owing to a burgeoning population and increasing influenza prevalence. Companies like Sekisui Diagnostics and Thermo Fisher Scientific contribute significantly, focusing on accessible and affordable diagnostic solutions. Government initiatives promoting healthcare infrastructure in countries like China and India further propel market growth.
- Goldsite Diagnostics Inc. pioneers in innovative diagnostic solutions, specializing in cutting-edge assays for early disease detection. Their portfolio includes advanced molecular tests and biomarker-based assays, aiming to revolutionize healthcare with accurate, rapid, and reliable diagnostic tools for improved patient outcomes.
- Hologic Inc. leads in women’s health, offering a diverse portfolio ranging from advanced imaging systems to diagnostic tools and assays. Their emphasis on innovation results in high-quality solutions for breast health, cytology, molecular diagnostics, and more, prioritizing early detection and patient well-being.
- DiaSorin S.p.A. excels in in vitro diagnostics, delivering a comprehensive range of immunodiagnostics and molecular diagnostics solutions. Their product portfolio includes innovative assays for infectious diseases, hormonal disorders, and autoimmune conditions, focusing on accuracy, efficiency, and improved patient care globally.
Influenza Diagnostics Market: Key Segments
By Flu Virus Type
- Type A
- Type B
By Test Type
- RT-PCR Tests
- Rapid Influenza Diagnostic Tests (RIDTs)
- Viral Culture
- Immunofluorescence Assays
- Serological Tests
- Others (LAMP, SAMBA, etc.)
By Product Type
- Kits & Reagents
By End User
- Diagnostic Centers
- Others (Academics & Research Institutes, etc.)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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