Diagnosis of infectious diseases such as influenza is seeing a sea change owing to technological innovations and development of next-generation molecular tests such as Nuclear Acid Amplification Tests (NAATs) and advanced immunoassays. The global rapid influenza diagnostic tests market size will witness robust expansion at over 8% CAGR during the forecast period (2019 – 2029).
Conventional immunoassays tend to be limited by their sensitivity and specificity, a shortcoming expected to be overcome through product innovation by key molecular diagnostics companies. Quidel and BD integrated electronic readers with immunoassays, to increase test sensitivity without switching to other expensive detection devices.
Key Takeaways - Rapid Influenza Diagnostic Tests Market Study
- In the last few years, constant increase in demand for rapid point-of-care tests has prompted health-care providers to shift to rapid influenza diagnostic tests that can achieve results in 15 minutes or less.
- In terms of principle, immunochromatographic assays are expected to garner maximum share in the rapid influenza diagnostic tests market, which is attributable to its low cost and easy-to-use nature.
- Attributable to growing number of clinics, hospitals, and diagnostic centers, the global rapid influenza diagnostic tests market in North America is at the forefront and it is expected to remain most profitable region during the forecast period.
- South Asia is anticipated to be the fastest-growing region owing to high prevalence of seasonal flu and increasing preference to opt for diagnostic testing.
Considerable impact of global public health organizations in identifying effective flu management strategies coupled with rapid uptake of point-of-care diagnostic tools by primary care physicians are further augmenting the growth prospects for rapid influenza diagnostic tests market.
Strategic Expansion Strategies of Leading Players Shaping Market
Prominent molecular diagnostics vendors are focusing on establishing long-term supply relationships with diagnostic centers and other testing facilities. They are emphasizing more on increasing their sales force and entering into strategic partnerships with local suppliers and distributors to expand product reach. For instance, Cardinal Health collaborated with Qiagen to distribute the company’s molecular diagnostic products to smaller and mid-sized U.S. hospitals.
According to the American Hospital Association, there are around 5,000 community hospitals in the U.S., and this share is anticipated to grow exponentially due to substantial growth projections for players in the rapid influenza diagnostic tests market. Moreover, the rapid influenza diagnostic tests market is expected to witness significant growth, which is attributed to a robust pipeline of innovative products.
Know More About the Report
Persistence Market Research offers a unique perspective and actionable insights on rapid influenza diagnostic tests in its latest study, presenting historical demand assessment from 2014 – 2018 and projections from 2019 – 2029 on the basis of principle (immunochromatographic assays, immunofluorescence assays and nucleic acid amplification test (NAAT)), type (influenza A test, influenza B test and influenza A+B test), sample type (throat swab, nasal swab, nasal aspirate, nasal wash, nasopharyngeal swab, nasopharyngeal aspirate, nasopharyngeal wash and others) and end user (hospitals, diagnostic centers, nursing homes, office-based settings, urgent care centers, retail pharmacy clinics, schools & universities, public health camps and others (cruise ships, correctional facilities, etc.) in seven prominent regions.
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