Influenza Diagnostics Market

Global Influenza Diagnostics Market Size (2023 to 2028)

As per our analysis report, the global influenza diagnostics market is predicted to be worth USD 1191 by the end of 2028 from USD 877 million in 2023, growing at a CAGR of 6.32% during the forecast period.

MARKET DRIVERS:

The growing prevalence of influenza and growing government support drive the growth of the global influenza diagnostics market.

According to the WHO, about 20% of children and 10% of adults are infected with the influenza virus annually. Although a patient will recover from influenza without medication in 2-3 weeks, it is essential to detect it. However, it can get complex, resulting in pneumonia, Bronchitis, Heart Attacks, and acute respiratory distress syndrome. The increasing prevalence of influenza and its associated diseases is a major factor responsible for the growth of the influenza diagnostic market. According to CDC, in the United States, around 35.5 million people were ill with influenza, 16.5 million visited a doctor for their illness, 490,600 were hospitalized, and 34,200 died due to the flu between 2018 to 2019. Between 2019 to 2020, there are 38 million people harmed by influenza, 18 million visits to a primary care provider for influenza, 400,000 hospitalizations for influenza, and 22,000 influenza deaths. This disease burden has varied for the last 70 years in various diseases. Hence there are numerous tests carried out to diminish this burden. As a result, it helps in the growth of the influenza diagnostics market.

The government's focus on preventing and monitoring influenza is one factor contributing to the growth of the global influenza diagnostics industry. Many counties have focused on preventing influenza throughout the years, like in India; after the avian influenza pandemic government started a five-step plan to diagnose and prevent influenza. In addition, WHO’s “The Global Influenza Programme” (GIP) helps the Member States with critical guidance, specialized assistance, and preparation of exercises required to strengthen their well-being mechanisms arranged against sporadic, zoonotic, and pandemic influenza dangers. Also, the government provides funding to various firms for influenza diagnostic testing, such as Diassess Inc., a next-generation infectious disease testing company, which received $21.9M in government funding in 2018 to advance the development of its flu diagnostic technology. These efforts eventually led to increases in the growth of the influenza diagnostics market.

Growing awareness regarding early diagnosis of influenza is also responsible for the growth of the influenza diagnostics market. An early diagnosis of influenza aids the doctor in deciding on care and assistance. It also aids in the prevention of more complications caused by influenza-related diseases. Furthermore, these early detections also raise further diagnostic tests based on the results. Henceforth, this awareness in the population for early diagnosis of influenza leads to the growth of the global influenza diagnostics market.

MARKET RESTRAINTS:

Nonetheless, the stringent FDA regulations, variability in specificity and sensitivity among influenza diagnostic tests, and increasing healthcare costs restrain the market. Furthermore, technological advancement in the diagnosis of influenza provides opportunities to the global influenza diagnostics market. Many companies struggle to implement modern technologies to diagnose influenza to achieve quick and reliable outcomes while being cost-efficient. Rapid molecular assays and RT-PCR are one of these developments. These advances increase the speed of the tests and the number of diagnoses; hence, they grow the future influenza diagnostics market.

Impact of COVID-19 on the global influenza diagnostics market:

Influenza A or B symptoms are the same as COVID-19, and pneumonia caused by IAVs shows symptoms like coronavirus. Both coronavirus and influenza are respiratory diseases that cause mild to severe diseases and death. Hence, only diagnostic tests can differentiate SARS-CoV-2 and flu infection diseases and distinguish SARS-CoV-2 and influenza. When Coronavirus and influenza viruses are cocirculating, medical professionals recommend influenza diagnostics. As a result, the influenza diagnostic market has increased intensely with this pandemic. Amid COVID-19 Multiplex Assay, a real-time reverse-transcription polymerase chain reaction (RT-PCR) test identifies and differentiates RNA from SARS-CoV-2, influenza A virus, and influenza B virus in upper or lower respiratory specimens was given Emergency Use Authorization by the USFDA. Besides, when influenza season collides with the covid – 19 pandemic, the Centers for Disease Control and Prevention (CDC) recommends co-testing for COVID-19 and influenza.  But due to travel bans, it becomes difficult to diagnose influenza in some cases, such as when the specimen is transported to the lab. Besides, the diagnosis is made in close contact; hence, there is a high chance of infections.

REPORT COVERAGE:

This research report on the global influenza diagnostics market has been segmented and sub-segmented based on the test type, type of flu, end-user, and region.

Influenza Diagnostics Market – By Test Type:

• Molecular Diagnostic Tests
  • RT-PCR
  • LAMP
  • NASBA
• Traditional Diagnostic Tests
  • Rapid Influenza Detection Tests
  • Serological assays
  • Direct Fluorescent Antibody
  • Viral Culture
  • H1N1 Influenza A Virus Identification Kits
  • Immunoassay Kits
  • Immunofluorescence Antibody Assay

The rapid influenza detection tests segment is expected to be the most significant market share based on the test type during the forecast period. Rapid influenza diagnostic tests are immunoassays identifying influenza A and B viral nucleoprotein antigens in respiratory specimens. Results of the tests are displayed qualitatively, such as positive and negative. The RIDT tests are the standard gold test employed to diagnose influenza because of their quick result time, less than 30 minutes. Hence the RIDT is expected to dominate the influenza diagnostic market in the coming years. 

Influenza Diagnostics Market – By Type of Flu:

• Type A Flu
• Type B Flu
• Type C Flu

Based on the type of flu, the type-A flu segment is projected to account for the largest share during the forecast period. Type A influenza infection can be severe and cause widespread outbreaks and disease. The common symptoms of type A can be coughing, sneezing, sore throat, fever, and headache. However, in some milder cases, the flu Can resolve without significant symptoms. In contrast, instances of severe type influenza can be life-threatening.

Influenza Diagnostics Market – By End-User:

• Hospitals
• Diagnostic Laboratories 
• Research and Academic Institute 
• Contract research organizations (CROs)

Based on the end-user, the segment of hospitals is forecasted to be the most dominant among all during the forecast period. Hospitals hold the largest market share in the influenza market due to their beneficial factors, such as accessibility and higher preference for this establishment. However, the market growth is expected to slow with the advent of POCT laboratories offering accurate results. 

Influenza Diagnostics Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Among these regions, the North American market is expected to be the top-performing region globally during the forecast period. This region has witnessed a rising number of influenza screening tests performed, and the prevalence drives the market growth during the forecast period. As a result, the United States is predicted to lead in the North American regional market, while Canada is expected to be another lucrative market in North America.

The European region held a substantial market share of the global influenza diagnostics market in 2020 and is estimated to register a healthy CAGR between 2021 to 2026. The vast availability of rapid diagnostic tests and a wide range of diagnostics procedures augment market growth in this region.

The Asia Pacific is one of the fastest-growing regions in the global influenza diagnostics market during the forecast period. In APAC regional market, the major contributors are China, India, and Japan. The Chinese influenza diagnostics market is expected to benefit from favorable factors such as adopting new technology and rising awareness regarding influenza. On the other hand, the Indian market is anticipated to contribute significantly to the APAC regional market during the forecast period.

Middle East Africa is most likely to have a moderate share of the Influenza diagnostics market over the forecast period. The proliferation of influenza and the adoption of advanced technologies are most likely to create market growth in this region.

KEY MARKET PARTICIPANTS:

Some of the key players operating in the global influenza diagnostics market are Abbott Laboratories Inc., Hoffmann-La Roche AG, Novartis AG, Quidel Corporation, Sekisui Diagnostics, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Danaher Corporation (Cepheid), Hologic Inc., GenMark Diagnostics, SIEMENS, Luminex Corporation, Enigma Diagnostics, and several others.

These players work on various strategies, such as mergers, acquisitions, and partnerships. They also seek government support to research new techniques. For Instance, On 20 January 2021, Thermo Fisher acquired point-of-care molecular diagnostics provider Mesa Biotech which has developed a PCR-based rapid point-of-care testing platform for detecting infectious diseases such as SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV), and Strep A.