Influenza Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Influenza Diagnostics market size is expected to be worth around US$ 3.3 billion by 2030, according to a new report by Vision Research Reports.

The global Influenza Diagnostics market size was valued at US$ 12.91 billion in 2020 and is anticipated to grow at a CAGR of 10.4% during forecast period 2021 to 2030.

Growth Factors

The disease is common in children and elderly population (aged 65 years and above). The disease has a huge impact on public health. Influenza A virus poses a greater risk as compared to the influenza B virus. The B virus is responsible for 20% to 25% of infections globally. The growth in the influenza diagnostic market is attributed to factors such as emergence of technologically advanced diagnostic tests with shorter turnaround time; initiatives by regulatory bodies, such as CDC’s seasonal influenza vaccination for prevention and control of seasonal influenza; and the demand created for influenza diagnosis in the flu season.

Rapid Influenza Diagnostic Tests (RIDTs) accounted for the largest share in 2015. RIDTs are tests that deliver accurate results in approximately 15 minutes. This factor deems them efficient, which has resulted in the lucrative growth of this segment with the fastest CAGR. Reverse transcription polymerase chain reaction (RT-PCR) holds the second highest market share following RIDTs, and this can be attributed to the fact that it provides detailed analytical results, sharper turnaround times, and high throughput.

Hospitals held the highest market share in 2015, but Point-of-Care Testing (POCT) is anticipated to overtake and lead the market in the coming future, owing to the increasing usage of POCT because of its ease of use and short turnaround times.

North America dominates the market, due to a high focus of the government and healthcare bodies to control influenza.

Report Highlights

Based on test type, the influenza diagnostics market is segmented into rapid influenza diagnostic tests (RIDT), reverse transcription polymerase chain reaction (RT-PCR), cell culture, and others. The tests that make up the others segment consists of immunofluorescence and serology. Rapid influenza diagnostic tests held the largest segment based on test type as they are commonly used for the diagnosis of influenza. These tests make qualitative detection of the presence of influenza type A and B in specimens. RIDT is considered as the gold standard test employed for the diagnosis of influenza, because of quick results which is less than 30 minutes. Thus, this test type is expected to dominate the influenza diagnostics market.

The second largest share based on test type was held by others. This is due to the accuracy and precision offered by immunofluorescence and serology. Immunofluorescence is a method that involves immunofluorescent staining the respiratory specimens. Serological diagnosis of influenza virus includes tests such as hemagglutination inhibition tests and complement fixation. Automated serology employs the use of enzyme-linked immunosorbent assay. Thus, with the negation of false positives by these tests, they are being preferred by medical personnel accelerating their market growth.

Cell culture is generally considered as a reference method and is widely employed when the prevalence rate of the disease is being tested. Cell culture provides accurate statistics along with the capability to accurately distinguish between the types of influenza viruses. These tests are mostly performed in laboratories and its results could take days, generally ranging from 3 to 10 days, depending on the conditions. The diagnostic method provides PPV or NPV known as positive predictive value and negative predictive value, respectively. In recent times, cell culture-derived influenza vaccines are being produced to address the need for improved methods for protection against influenza.

RT-PCR is anticipated to have the second highest CAGR in influenza diagnostics. RT-PCRs deliver results in a reasonable time, which ranges from approximately 20 minutes to less than 2 hours. These tests have the ability to detect both viable and nonviable influenza virus. The RT-PCR market is driven by the fact that these tests are potentially powerful tests and can determine the influenza virus type (A and B viruses) and the chance for negative or false-positive results are very low. The drawback of RT-PCR is that it is expensive as compared to other influenza tests and some tests are yet to receive U.S. FDA approval.

Based on end use the influenza diagnostics market is segmented into hospitals, laboratories, and point of care testing laboratories. The hospitals market for influenza diagnostics held the largest market share in 2015, but is expected to gradually slow down with the advent of POCT laboratories that offer accurate results.

POCTs is expected to be the fastest growing segment owing to the factors such as ease of use and usage by anyone and not requiring much expertise, except basic operational knowledge. With the advent of technologically advanced POCT, the reliance of the public and physicians on these tests has significantly increased. On the other hand, the laboratory influenza diagnostic market is expected to grow at a steady CAGR during the study period.

Hospitals are also referred to as long-term care facilities. Long-term care facilities are the primary end-use segment as most people rely on them for diagnosing influenza. In underdeveloped and developing countries, that lack access to rapid diagnostic tests, hospitals serve as the primary testing facilities. Therefore, their share is the highest in 2015, but is expected to gradually go down with the advent of POCT.

POCT is performed in non-laboratory settings. It is also known as bedside testing. Most RIDTs that are CLIA waived, are used in point-of-care (POC) settings. POCT is responsible in the rise in usage of influenza diagnostic testing kits. New technological advancements in the POC test kits with shorter turnaround times and error-free results are expected to boost the market further in the upcoming future. The POCT market is expected to be the fastest growing segment in the study period.

Laboratory Diagnosis of Influenza mostly employs Real-time RT-PCR technique. Laboratories have several advantages, they provide fast results (approximately 3-4 hours); are highly sensitive, specific, scalable, cost-efficient; and facilitate the testing of many sample types. The laboratories segment is anticipated to witness slow growth as compared to POCT and hospitals, because their usage is limited.

The influenza diagnostics market is analyzed for North America, Europe, Latin America, Asia Pacific, and MEA in this particular study. North America held the highest market share in the influenza diagnostics market, owing to a strong focus of the U.S. CDC on controlling the disease rates. In addition, high technological advancements in the region coupled by increasing healthcare spending are expected to drive the growth of the market. Asia Pacific region is expected to be the region exhibiting fastest growth due to factors such as high population density and significant disease burden in the region.

The U.S. CDC actively takes preventive measures and tracks the disease through its national Influenza Surveillance System, to determine the severity of the disease and keep the disease rates in check. Apart from that, the huge availability of rapid diagnostic tests (RDTs) has boosted adoption rates in the United States. High public awareness coupled with availability of a wide range of diagnostic procedures is responsible for North America being the regional leader in terms of market share in 2015.

Key Players

Roche Diagnostics, Becton, Dickinson and Company, Thermo Fisher Scientific, Alere, and Quidel Corporation among others.

Market Segmentation

  • Test Type Outlook 

    • RIDT

    • RT-PCR

    • Cell Culture

    • Others

  • End-use Outlook 

    • Hospitals

    • POCT

    • Laboratories

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    •  MEA

      • South Africa

      • Saudi Arabia

The Influenza Diagnostics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Influenza Diagnostics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Influenza Diagnostics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Influenza Diagnostics market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Influenza Diagnostics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Influenza Diagnostics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Influenza Diagnostics by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Influenza Diagnostics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Influenza Diagnostics market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Influenza Diagnostics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Influenza Diagnostics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Influenza Diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Influenza Diagnostics market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Influenza Diagnostics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Influenza Diagnostics market. These factors have benefited the growth of the global market for Influenza Diagnostics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Influenza Diagnostics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Influenza Diagnostics are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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