Global Influenza Diagnostics Market Size, Share, Growth Analysis, By Test Type(Traditional Diagnostic Test, Molecular Diagnostic Assay), By End-User(Hospital, Laboratories) - Industry Forecast 2023-2030

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Influenza Diagnostics Market size was valued at USD 1.07 billion in 2021 and is poised to grow from USD 1.1 billion in 2022 to USD 1.46 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).

The Influenza Diagnostics Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Becton Dickinson, Biomerieux, Merck, and Bio-Rad Laboratories among others who are driving the Influenza Diagnostics Market. 'Thermo Fisher Scientific, Inc.', 'Roche Diagnostics', 'Abbott Laboratories', 'Becton, Dickinson and Company', 'Quidel Corporation', 'DiaSorin S.p.A.', 'bioMérieux SA', 'Meridian Bioscience, Inc.', 'Luminex Corporation', 'Hologic, Inc.', 'F. Hoffmann-La Roche Ltd.', 'Cepheid Inc.', 'Sekisui Diagnostics LLC', 'GenMark Diagnostics, Inc.', 'Quanterix Corporation', 'Alere Inc.', 'Merck KGaA', 'Hologic, Inc.', 'Scienion AG', 'Enzo Biochem, Inc.'

The Human Genome Project and advances in molecular and biomedical technologies have resulted in the development of a plethora of assays and technologies useful for the diagnosis and management of influenza infections. These new technologies, which are based on genomic techniques (such as PCR) and proteomics (such as microarray detection), aid in the discovery of new influenza viruses. They also allow for better surveillance and rapid diagnosis of infectious diseases, which offers a Influenza Diagnostics Market opportunity.

Vaccination is a major method of immunizing individuals against infectious diseases to avoid serious complications, particularly in immunocompromised patients who are at high risk. Mutation of the virus serotype proves to be a major impediment because vaccination becomes difficult in such cases, putting the individual at risk of contracting the virus. Thus, as virus types change, it is critical to detect their presence in patients and administer timely medication to prevent fatalities. As a result, the demand for influenza diagnostics products has increased, accelerating market growth.

In 2021, North America dominated the influenza diagnostics market and it is expected to maintain its dominance throughout the forecast period (2022-2028). The regional Influenza Diagnostics Market is expected to be driven by the high prevalence of influenza during the forecast period. It is estimated that, approximately 5% to 20% of Americans will be diagnosed with influenza each year in 2022. Moreover, the Centers for Disease Control and Prevention reported 35 million flu-related illnesses, 380,000 flu-related hospitalizations, 20,000 flu-related deaths, and 16 million flu-related medical visits in 2019-2020. This rising disease burden is believed to have a positive impact on market growth in the coming years. RIDTs are widely available all across the region. The short time required to generate results is the reason for the test's wider availability. RIDT can produce results in as little as 15 minutes. With rising influenza-related hospitalizations and pediatric deaths, as well as government organizations' desire to better manage the disease, the North American influenza diagnostics market is expected to expand in the coming years.

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Global Influenza Diagnostics Market Size, Share, Growth Analysis, By Test Type(Traditional Diagnostic Test, Molecular Diagnostic Assay), By End-User(Hospital, Laboratories) - Industry Forecast 2023-2030

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