Influenza Diagnostics Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe influenza diagnostics market is expected to reach
USD 3.3 billion by 2024, according to a new report by Grand View Research, Inc.
Influenza, or "the flu," is an infectious disease and affects the
upper respiratory tract in humans. 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.
Further Key
Findings from the Study Suggest:
- North America
is anticipated to dominate the global influenza diagnostics market. The
high adoption rates of in
vitro diagnostics and presence of technologically advanced medical
devices is expected to drive growth in the region.
- The Asia
Pacific region is anticipated to be the fastest growing region in the
study period. This growth is attributed to factors such as increasing
initiatives by the countries to counter the incidence of the disease. For
instance, CDC reached a cooperative agreement with South-East Asian Region
to fund non research-related bilateral influenza as a measure to respond
to avian, seasonal, and pandemic influenza.
- The RIDT
segment is expected to grow at a significant rate compared to others and
accounts for the largest share in 2015.
- This market
comprises several local as well as global players. Some of the major
players of this vertical include Becton, Dickinson and Company, Roche
Diagnostics, Alere, Quidel Corporation, and Thermo Fisher Scientific.
Grasp advance
knowledge on global influenza diagnostics industry through in-depth research
insights: www.grandviewresearch.com/research-insights/influenza-diagnostics-market-enhanced-acceptance-in-vitro-diagnostic-tests-drive-market-growth
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Created on Sep 27th 2019 01:54. Viewed 362 times.