What's Driving the Influenza Diagnostic Tests Market Growth? Stryker Corporation, Zimmer Biomet Holdings, Arthrex, Smith & Nephew Plc
the Increasing incidence of influenza A is anticipated to augment the global market growth. In 2018, influenza Tiagnostic tests market size for Type A was valued at USD 779.4 million.
Ocean View, DE -- (SBWire) -- 04/06/2020 --U.S. influenza diagnostic tests market size is expected to witness significant growth at 6.3% over the forecast period due to presence of skilled professionals, well-developed healthcare infrastructure and technological advancements coupled with growing influenza prevalence in the country. Additionally, growing initiatives by the government to manufacture advanced technologies with the aim to deliver efficient results for influenza testing is another major reason to escalate market growth.
China influenza diagnostic tests market was valued at around USD 70.4 million in the year 2018. The growth of the market is attributed to rise in prevalence of influenza along with several initiatives taken by the government to raise awareness regarding influenza diagnostics and treatment. As per the World Health Organization (WHO), China is considered to be one of the major countries with high influenza prevalence rate. Hence, aforementioned factors will play a significant role in augmenting China market growth across the forecast timeframe.
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How will the incidence of type A flu contribute to improve overall influenza diagnostic tests market size?
Influenza A is more prevalent and serious as compared to other variants including influenza B and C. Being a communicable disease, the epidemic of influenza A gets rapidly spread by a potent virus mostly known as avian flu or bird flu. Hence the Increasing incidence of influenza A is anticipated to augment the global market growth. In 2018, influenza diagnostic tests market size for Type A was valued at USD 779.4 million.
The influenza diagnostic tests market is anticipated to witness considerable gains in the upcoming years owing to the increasing prevalence of influenza across the globe. The high risk of flu complications among the people with chronic diseases and people with weak immune systems will further foster influenza diagnostic tests market share. Additionally, the growing research funding to improve the efficacy of existing influenza diagnostics tests will enhance the industry outlook.
Will traditional diagnostic tests proliferate influenza diagnostic tests market share over the forecast period?
The traditional diagnostic tests are more popular than other types as they utilize the respiratory samples to for faster detection of influenza A and B antigens. The Rapid Influenza Diagnostic Test (RIDT) segment will witness considerable gains on account of the minimal time taken to yield the diagnostics result. RIDT is very popular as it discloses the results in a relevant time slot of less than 15 minutes, which is expected to augment the market share. Influenza diagnostic tests including the overall traditional diagnostic methods is projected to grow at the rate 7.1% over the forecast period.
Browse Report Summary: https://www.gminsights.com/industry-analysis/influenza-diagnostic-tests-market
What will drive US influenza diagnostic tests market trends over the forecast period?
According to Centers for Disease Control and Prevention (CDC), influenza kills about 12,000 to 79,000 people of the US population per year. Owing to the increasing prevalence of influenza in the region, the U.S market was valued at USD 287.0 million in 2018. Furthermore, the presence of well-established healthcare industry consisting skilled medical professionals coupled with government initiatives to produce advanced technologies for delivering efficient results for influenza testing will continue escalating the market growth.
More insightful info: https://www.marketwatch.com/press-release/influenza-diagnostic-tests-market-industry-growth-analysis-forecast-by-2025-2019-10-14
Some of the notable companies operating in influenza diagnostic tests market include Extremity Medical, Stryker Corporation, Zimmer Biomet Holdings, Arthrex, Smith & Nephew Plc, Integra LifeSciences Holdings Corporation, Acumed LLC., Tornier N.V. and Wright Medical Technology. Major strategies adopted by these industry players include strategic collaborations, mergers, partnerships, and innovative product launch to expand their business product portfolio and consolidate market position.
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