High prevalence of influenza and increasing research funding for influenza diagnostics are major factors that are expected the boost growth of the market
SEATTLE, WASHINGTON, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to this latest publication from Coherent Market Insights®, the global influenza diagnostics market is expected to grow at a CAGR of 8.1% from 2019 to reach $2.0 billion by 2027.
Influenza is a viral infection that attacks your respiratory system, such as nose, throat and lungs. It is a contagious respiratory infection caused due to influenza virus. Illness due to the infection ranges from mild to severe, occasionally leading to death. Influenza diagnostics include viral culture, rapid antigen testing, serology, reverse transcription polymerase chain reaction (RT-PCR), rapid molecular assays, and immunofluorescence assays. Influenza vaccines protect against infection caused by influenza viruses. There are two types of influenza; seasonal and pandemic. It is transmitted from public places through sneeze and droplets of infected person who serve as a carrier of the disease. Influenza diagnostic tests are an extremely accurate and conclusive method for diagnosing influenza.
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Major players operating in the global influenza diagnostics market are Roche Diagnostics, Quidel Corporation, Alere, Thermo Fisher Scientific, and Becton, Dickinson and Company, among others.
The outbreak of COVID-19 worldwide is expected to drive growth of the influenza diagnostics market during the forecast period. COVID-19 is a respiratory disease caused by SARS-CoV-2 that can trigger what doctors call a respiratory tract infection. For instance, according to the World Health Organization (WHO), worldwide, as of 3:58pm CEST, 13 October 2021, there have been 238,521,855 confirmed cases of COVID-19, including 4,863,818 deaths.
Moreover, increasing demand for rapid disease diagnosis due to rise in prevalence of influenza worldwide is expected to augment the growth of the influenza diagnostics market. For instance, in February 2019, Abbott launched its rapid influenza diagnostic test, BinaxNOW Influenza A & B Card 2. The reformulated test has been approved by the Food and Drug Administration (FDA) for use with Abbott's DIGIVAL diagnostic reader for the rapid detection of influenza.
COVID-19 Impact Analysis:
The outbreak of COVID-19 has changed the delivery of medical care worldwide. Symptoms for COVID-19 and the Flu can be similar, so testing for all three viruses at the same time will provide public health officials with information they need to help reduce the spread of these viruses. Since both COVID-19 and influenza viruses are co-circulating, healthcare providers recommend to test for both in all hospitalized patients with acute respiratory illness. This in turn has increased the demand for influenza diagnostics worldwide. For example, in September 2020, Roche launched the Food and Drug Administration (FDA) approved cobas SARS-CoV-2 & Influenza A/B Test intended for the simultaneous qualitative detection and differentiation of COVID-19, Influenza A, and Influenza B in patients suspected by their healthcare provider of having respiratory viral infection consistent with COVID-19. Moreover, the test is available in markets accepting the CE mark.
• The influenza diagnostics market is expected to exhibit a CAGR of XX % during the forecast period due to growth in influenza research for novel diagnostic technologies. For instance, in August 2020, Altona Diagnostics launched the AltoStar HIV RT-PCR Kit 1.5, an in vitro diagnostic test based on real-time RT-PCR technology, which enables the fast and reliable detection and differentiation of the currently known subtypes and strains of globally spread influenza viruses.
• Among regions, the Asia Pacific is expected to witness significant growth in the influenza diagnostics market due to the increasing cases of COVID-19 and rising demand for rapid disease diagnosis in this region. For instance, according to WHO, in India, from 3 January 2020 to 3:58pm CEST, 13 October 2021, there have been 34,001,743 confirmed cases of COVID-19, including 451,189 deaths.
• North America is expected to witness significant growth in the influenza diagnostics market owing to increasing demand for influenza diagnostics and rise in prevalence of influenza in this region. For instance, according to the Centers for Disease Control and Prevention (CDC), the flu caused around 9 to 41 million illnesses, 140,000 to 710,000 hospitalizations, and 12,000 to 52,000 deaths annually, between 2010 and 2020.
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Influenza Diagnostics Market Taxonomy:
On the basis of test type:
Traditional Diagnostic Tests
Rapid Influenza Diagnostic Tests (RIDT)
Direct Fluorescent Antibody (DFA) Tests
Molecular Diagnostic Assays
Nucleic Acid Sequence-Based Amplification (NASBA) Tests
Loop-Mediated Isothermal Amplification-Based Assays (LAMP)
Simple Amplification-Based Assays (SAMBA)
On the basis of end user,:
Hospitals & Clinics
On the basis of regions:
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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Source: EIN Presswire