Rapid Influenza Diagnostic Tests Market
Global Market Study on Rapid Influenza Diagnostic Tests: Increasing Seasonal Influenza Incidence and Growing Inclination Towards Diagnostic Testing Key Growth Levers
- Market Research
- Rapid Influenza Diagnostic Tests Market Segmented By Immunochromatographic Assays, Immunofluorescence Assays, Nucleic Acid Amplification Test principle with Influenza A Test, Influenza B Test, Influenza A+B Test Type by Throat Swab, Nasal Wash, Nasopharyngeal Aspirate Sample Type
Growing incidence of influenza is increasing the need for effective diagnostic procedures, worldwide. Overall population is prone to influenza, but paediatric and geriatric populations are at high risk. Elderly population (65 or older) with deteriorated immune system, is afflicted by significant comorbidities and complications from flu.
According to CDC, influenza affected 9.3 million to 49.0 million people in the U.S. alone since 2010. Also, according to the Infection Prevention and Control (IPAC), in 2018, around 55,000 patients suffered from influenza in Canada. The rapid influenza diagnostic tests market is anticipated to be valued at US$ 1.6 Bn by the end of 2029, exhibiting a CAGR of 8.7% during the forecast period (2019-2029).
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- SA Scientific
- 3M Company
- Becton, Dickinson & Company
- Biocartis N.V.
- BioFire Diagnostics (bioMerieux, Inc.)
- Biosynex S.A.
- Cepheid, Inc.
- Creative Diagnostics
- Focus Diagnostics (DiaSorin SpA)
- F. Hoffmann-La Roche
- GenMark Diagnostics
- Hologic, Inc.
- Luminex Corporation
- Meridian Bioscience, Inc.
- Princeton BioMeditech Corporation
- QIAGEN N.V.
- Quidel Corporation
- Sekisui Diagnostics
- Thermo Fisher Scientific, Inc.
Extensive Government Funding for Development of Rapid Influenza Diagnostic Tests
With the rise in epidemics and pandemics since the last few years, government agencies in some countries are providing funds for development of innovative rapid influenza diagnostic tests.
For instance, Diassess Inc., a contagious disease testing company, received a funding of US$ 21.9 Mn by U.S. government for the development of its breakthrough flu diagnostic technology for use in physician offices and eventually in patients’ homes. Such government measures are expected to support growth of the rapid influenza diagnostic tests market on a global scale.
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Rapid Turnaround of Results Allowing Optimal Treatment Decisions
According to WHO, every year, onset of influenza season leads to increased use of antibiotics leading to an elevated risk of antibiotic resistance in the body. Devices used at the point-of-care have rapid turn-around times, which aids in preparing a focused and effective treatment plan depending on the test results.
Rapid influenza diagnostic tests have minimal turnaround time, some providing results in less than 15 minutes. Thus, implementation of rapid influenza diagnostic tests helps forestalling the over-prescription of antibiotics and also prevent the root cause of increasing bacterial resistance and its adverse outcomes. Such beneficial factors remain major contributors toward rapid influenza diagnostic tests market expansion.
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Rising Number of Diagnostic Procedures to Fuel Market Growth
Growing high-risk population (geriatric and pediatric) and increased availability of test devices are increasing the number of influenza diagnostic procedures performed each year, in turn boosting the global healthcare industry.
According to the Centers for Disease Control and Prevention (CDC), seasonal influenza in the United States is increasing at a high rate, with related hospitalizations pegged at 140,000 – 960,000 patients since 2010.
As a result, these factors have increased the need for diagnostics procedures in clinical labs, public health labs, and in hospitals, fueling demand for rapid influenza diagnostic tests in the healthcare sector.
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Key Market Players Focusing on New Product Launches and FDA Clearance
The rapid influenza diagnostic tests market is largely consolidated. Some of the dominant players in the rapid influenza diagnostic tests market are Quidel Corporation, Abbott Laboratories, Luminex Corporation and Becton, Dickinson & Company.
In October 2018, Abbott Laboratories launched next generation Influenza A & B assays with fastest-ever time to molecular results. Also, in February 2018, Quidel received FDA clearance for the launch of Quickvue Influenza A+B test assay, which meets FDA’s class II rapid influenza diagnostic tests requirements.
An extensive analysis of the rapid influenza diagnostic tests market has brought our analysts to a conclusion that the rapid influenza diagnostic tests industry is growing at a significant pace. Influenza affects people of all ages, with a predominance in the elderly population and this scenario presents a profitable landscape for market participants.
Asia Pacific and North America are dominating the global market for rapid influenza diagnostic tests owing to growing healthcare expenditure, increasing necessity of diagnostic procedures, and growing seasonal influenza cases.
Key Segments of Rapid Influenza Diagnostic Tests Market
PMR’s study on the rapid influenza diagnostic tests market offers information divided into five important segments— principle, test type, sample type, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in PMR’s Rapid Influenza Diagnostic Tests Market Report
- Which regions will continue to remain the most profitable regional markets for rapid influenza diagnostic tests market players?
- Which factors will induce a change in the demand for rapid influenza diagnostic tests therapy during the assessment period?
- How will changing trends impact the rapid influenza diagnostic tests market?
- How can market players capture the low-hanging opportunities in the rapid influenza diagnostic tests market in developed regions?
- Which companies are leading the rapid influenza diagnostic tests market?
- What are the winning strategies of stakeholders in the rapid influenza diagnostic tests market to upscale their position in this landscape?