Northbrook, IL 60062 -- (SBWire) -- 01/16/2023 --Influenza Diagnostics Market by Product (Test Kits, Instruments), Test Type (Traditional (RIDT, Viral Culture, Serological), Molecular (PCR, INAAT- NASBAT, TMABAS)), End User (Diagnostic Laboratories, Hospitals, Clinics), Region-Global Forecast to 2026according to a new report by MarketsandMarkets™. The global influenza diagnostics market is projected to reach USD 1.1 billion by 2026 from USD 0.8 billion in 2021, at a CAGR of 7.7%. Rising demand for rapid disease diagnosis, increasing prevalence of influenza and growth in influenza research for diagnostic technologies are among the other factors. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the influenza diagnostics market.
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Market Dynamics
Driver: Growth in influenza research for diagnostic technologies
The rising prevalence of influenza across the globe has increased R&D efforts towards its effective detection and diagnosis. Most research activity focuses on developing faster and more accurate diagnostic solutions for influenza viruses leading to market growth. National Institute of Allergy and Infectious Diseases (NIAID), a part of the US NIH, initiated the Collaborative Influenza Vaccine Innovation Centers (CIVICs) program to support a broad portfolio of influenza research activities. NIAID announced funding of USD 51 million for CIVICs.
Key Market
The major players operating in this market are Danaher Corporation (US), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (US), F. Hoffmann-LA Roche AG (Switzerland), Abbott Laboratories, Inc. (Us), Hologic, Inc. (US), bioMérieux SA (France), Quidel Corporation (US), Becton, Dickinson and Company (US), Meridian Bioscience (US), GenMark Diagnostics, Inc. (US), Luminex Corporation (US), Tecanclinica Trading AG (Switzerland), DiaSorin SA (Italy), altona Diagnostics GmbH (Germany), SEKISUI Diagnostics (US), SA Scientific Ltd. (US), Coris BioConcept SPRL (Belgium), ELITech Group (France), Mast Group Ltd. (UK), Genome Diagnostics, Pvt. Ltd. (India), Germaine Laboratories, Inc. (US), Response Biomedical Corp. (Canada). Tauns Laboratories, Inc. (Japan) and 3B BlackBio Biotech India Ltd. (India).
Thermo Fisher Scientific held the leading position in the influenza diagnostics market in 2020. The company maintains its leading position in this market through its strong global sales and distribution network. The company adopts organic growth and inorganic growth strategies to increase its dominance in this market. It also focuses on product approvals to complement its existing business segments.
In 2020, Becton, Dickinson and Company held the second position in the influenza diagnostics market. The company has maintained its leading position through its strong distribution networks across North America, Europe, and other developed countries. The company adopts organic growth strategies to increase its dominance in this market. It also focuses on product approvals to complement its existing business segments.
In 2020, F. Hoffmann-La Roche AG accounted for third position of the influenza diagnostics market. The company's leading position can be attributed to its strong sales and distribution network. The company invests a significant amount of its revenue in R&D.
The test kits and reagents segment accounted for the largest share of the influenza diagnostics market, by product segment, in 2020
Based on product and service, the influenza diagnostics market is segmented into test kits and reagents, instruments and other products. The test kits and reagents segment accounted for the largest share of the influenza diagnostics market in 2020. Factors such as growth in influenza research for diagnostic technologies and increasing prevalence of influenza are contributing for the growth of this market.
Molecular Diagnostic Tests segment to register the highest growth rate during the forecast period
The influenza diagnostics market is segmented into traditional diagnostic test (rapid influenza diagnostic tests, viral culture tests, direct fluorescent antibody test, serological tests) and molecular diagnostic tests (polymerase chain reaction, isothermal nucleic acid amplification tests(transcription-mediated amplification-based assay, loop-mediated isothermal amplification-based assay, nucleic acid sequence-based amplification tests, other isothermal nucleic acid amplification tests) and other molecular diagnostic tests. In 2020, the molecular diagnostic tests segment accounted for the highest growth rate. Factors such as the rising demand for rapid disease diagnosis drive this market and growth in influenza research for diagnostic technologies.
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North America is the largest regional market for influenza diagnostics market
The global influenza diagnostics market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the influenza diagnostics market. The large share of this region can be attributed to growth in influenza research for diagnostic technologies and rising demand for rapid disease diagnosis.
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Influenza Diagnostics Market Worth $1.1 Billion, Global Industry Trends, Share Analysis, Top Leading Companies, Business Opportunities by 2026
In May 2021 Becton, Dickinson and Company (US) received FDA approval for the BD Veritor Plus System, which is used to detect SARS-CoV-2, influenza A, and influenza B.