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% during the forecast period. Growth in the influenza diagnostics market is mainly driven by factors such as the increasing prevalence of influenza, Growth in influenza research for diagnostic technologies and Rising demand for rapid disease diagnosis. However, variabilities in test sensitivity and specificity and rising healthcare costs are the major factors hampering the growth of this 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 RD 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).
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.
The diagnostic laboratories segment accounted for the largest share of the influenza diagnostics market, by end user segment, in 2020
Based on end user, the influenza diagnostics market has been segmented into diagnostic laboratories, hospitals and clinics and other end users. In 2020, the diagnostic laboratories segment accounted for the largest share of the influenza diagnostics market. Increasing prevalence of influenza and rising demand for rapid disease diagnosis is driving this segments growth.
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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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