Global Market Study on Rapid Influenza Diagnostic Tests: Increasing Seasonal Influenza Incidence and Growing Inclination Towards Diagnostic Testing Key Growth Levers


Rapid Influenza Diagnostic Tests  Market
  • Published On : Dec-2019 |
  • Pages : 242 Pages |
  • Format : Rapid Influenza Diagnostic Tests  Market Rapid Influenza Diagnostic Tests  Market Rapid Influenza Diagnostic Tests  Market Rapid Influenza Diagnostic Tests  Market

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).

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.  

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.

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.

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.

Analysts’ Viewpoint

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.

Rapid Influenza Diagnostic Tests Market - Scope of Report

Persistence Market Research (PMR) recently published a market study on the global market for rapid influenza diagnostic tests. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the rapid influenza diagnostic tests market structure. The market study presents exclusive information about how the rapid influenza diagnostic tests market will grow during the forecast period of 2019-2029.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, and compounded annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the rapid influenza diagnostic tests market during the forecast period.

The study is relevant for stakeholders in the rapid influenza diagnostic tests market, including rapid influenza diagnostic tests therapy manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the rapid influenza diagnostic tests market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in PMR’s study.

The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the rapid influenza diagnostic tests market. Furthermore, small businesses and new entrants in the rapid influenza diagnostic tests market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.

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.

Principle

Test Type

  • Immunochromatographic Assays
  • Immunofluorescence Assays
  • Nucleic Acid Amplification Test (NAAT)
  • Influenza A Test
  • Influenza B Test
  • Influenza A+B Test

Sample Type

End User

  • Throat Swab
  • Nasal Swab
  • Nasal Aspirate
  • Nasal Wash
  • Nasopharyngeal Swab
  • Nasopharyngeal Aspirate
  • Nasopharyngeal Wash
  • Others
  • Hospitals
  • Diagnostic Centers
  • Nursing Homes
  • Office-based Settings
  • Urgent Care Centers
  • Retail Pharmacy Clinics
  • Schools & Universities
  • Public Health Camps
  • Others (Cruise Ships, Correctional Facilities, etc.)

Region

 
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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?

Rapid Influenza Diagnostic Tests Market: Research Methodology

In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the rapid influenza diagnostic tests market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.

Secondary resources referred to analysts during the production of the rapid influenza diagnostic tests market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the rapid influenza diagnostic tests market, and makes PMR’s projection on the growth prospects of the rapid influenza diagnostic tests market more accurate and reliable.

Companies covered in Rapid Influenza Diagnostic Tests Market Report

  • SA Scientific
  • 3M Company
  • Abbott
  • 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.

Rapid Influenza Diagnostic Tests Market

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