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Influenza Diagnostics Market

Global Influenza Diagnostics Market Research Report - Segmented By Test [Traditional Diagnostic Test (Rapid Influenza Diagnostic Tests (RIDT), Viral Culture, Direct Fluorescent Antibody (DFA) Test and Serological Assay), Molecular Diagnostic Assay (RT-PCR, Nucleic Acid Sequence-based Amplification (NASBA) Test, Loop-mediated Isothermal Amplification-based Assay (LAMP), Simple Amplification-based Assay (SAMBA) and Other Molecular Diagnostic Assays], By End Users (Hospitals, Research Centres, Diagnostic Laboratories, On-Site Testing Centres), By Region (North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa) – Industry Size, Share, Trends, Growth and Forecast | 2019 - 2024

  • ID : 70522869  |  
  • Published : Jan-2020  |  
  • Region : Global  |  
  • Pages : 150   |  
  • Publisher : Research Cosmos

Global Influenza Diagnostics Market Size & Growth (2019 - 2024)

Influenza diagnostics market is deemed to have the fastest growth rate in the review period. It is estimated that the market was valued USD 493 Million in 2018  and predicted to reach USD 732 Million by the end of 2024 registering a CAGR of 6.91% from 2019  to 2024. Influenza is caused by an influenza virus which is an infectious disease. This disease is more common in adults and one can have the symptoms in two days of exposure to the virus. Early symptoms of the disease are high fever, runny nose, sore throat, muscle pains, headache and coughing among others. Diarrhea and vomiting can commonly be noticed in children. In some cases, the patients might have heart failure problems when the disease gets worse with time. The diagnosis of the disease is held with specific medications after a patient’s blood sample is tested for the flu. Early diagnosis of this disease has a complete cure.

The key factors in promoting the growth of the market for the diagnosis of the influenza are the aging population, the increased efforts of the government to combat influenza, diabetes, the heart and increase the prevalence of Chronic diseases, such as diseases of the blood, and the technique with the advent of advanced diagnostic tests. The elderly population may be infected with a wide range of illnesses, as when fighting weak immunological disorders they are more likely to have the flu. Immunized people, such as those suffering from chronic illnesses, are also prone to this disease. As a result, the number of people susceptible to increase the disease and the demand for products for the diagnosis of influenza increases, accelerating the growth of the market.

People at risk for the influenza consists of pregnant women, children, the elderly, chronically immunocompromised patients and health workers suffer. Influenza treatment consists of a variety of antiviral medications that help reduce complications and help you die, such as death. Mutations in viral serotypes turned out to be an important obstacle because the vaccine would run the risk of infection with the virus. Therefore, to detect the presence of a patient due to a change in the type of virus is important to prevent deaths administering the drug in a timely manner. As a result, demand for influenza diagnosis products has increased and market growth is accelerating. However, it is important to make sure that all the rapid antigen-influenza controls meet the new FDA requirements for approval. Therefore, the strict FDA regulations are important restrictions on the market.

However, rising prices for kits and reagents can be an obstacle. Government efforts, such as WHO and CDC to control and prevent influenza, are the engine of the influenza diagnostics market. In addition, the increase in research and development, technological advances and the increase in demand for the diagnosis of influenza diagnostic tests is to promote the market during the prognosis period.

Lack of proper treatment in severe conditions is slowly declining the growth of the market. Rapid changes in the economic strategies may have a negative impact on the growth of the market.

Increasing research for the treatment of this disease with the support from the government through investments is setting up growth opportunities for the market.  Growing awareness programs to create knowledge over the disease and symptoms are surging the demand of the market.

This research report includes the following segmentation for the Influenza Diagnostics Market size and forecast until 2024

Influenza Diagnostics Market - By Test

  • Traditional Diagnostic Test

    • Rapid Influenza Diagnostic Test (RIDT)
    • Viral Culture
    • Direct Fluorescent Antibody (DFA) Test
    • Serological Assay

  • Molecular Diagnostic Assay

    • RT-PCR
    • Nucleic Acid Sequence-based Amplification (NASBA) Test
    • Loop-mediated Isothermal Amplification-based Assay (LAMP)
    • Simple Amplification-based Assay (SAMBA)
    • Other Molecular Diagnostic Assays

Based on the test type, the Traditional diagnostics tests segment is leading with the highest shares of the market.

Influenza Diagnostics Market - By End User

  • Hospital
  • Research Laboratory
  • Other End Users

By end-user, the Hospitals are witnessed to have the highest growth rate in the review period.

Influenza Diagnostics Market - By Region

  • North America - US, Canada, Mexico and Rest of North America
  • Europe - UK, France, Spain, Germany, Italy,  Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
  • APAC - India, China, Japan, South Korea,  Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
  • Latin America - Brazil, Argentina, Chile and Rest of Latin America
  • Middle East and Africa -  KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

Regionally, North America is accounted to have the highest shares of the market next to the Asia pacific with the acceptance of advanced technologies and launch of various innovative products. Europe and Middle East & Africa are to have significant growth rate in the forecast period.  Rising support from the government through investments is bolstering the growth of the market in these regions.

Key market competitors leading the Global Influenza Diagnostics Market profiled in this report are:

  1. Thermo Fisher Scientific (U.S.)
  2. Roche Diagnostics (Switzerland)
  3. Alere Inc. (U.S.)
  4. Quidel Corporation (U.S.)
  5. Becton, Dickinson and Company (U.S.)
  6. DiaSorin (Italy)
  7. SA Scientific (U.S.)
  8. Luminex Corporation (U.S.)

Key takeaways from the report:

  • Analysis of the current and future trends and growth potential of the market during the forecast period
  • Evaluate market potential in terms of growth rates (CAGR), Value (USD) and Volume (Units) sales at country level across various segments of the market
  • Understand the market dynamics and key influencers in terms of driving factors and opportunities of the market. Also, restraints and challenges that the industry has to endure
  • Insights on competitor performance with a benchmarking analysis of their market position, financials and more
  • Profiles of key market players providing a comprehensive understanding of their product portfolio, SWOT analysis, and growth strategies
  • Information on key events in the recent past which includes mergers & acquisition, new product launches, collaborations, deals, and other agreements
  • Analysis of the supply-demand gap, import-export statistics, and other key market insights for more than 20 countries globally
  • Gauge the competition in the industry with Porter's five force analysis understanding the threat from new entrants and substitute products.
  • Understand the effects of macro-level environment factors through the PESTLE analysis, providing a detailed assessment of the external factors that have an impact on the industry

1. INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Prevalence of Influenza and Related Chronic Diseases

4.2.2 Growth in Research Funding for Influenza Diagnostics

4.2.3 Rising Demand for Early Diagnosis and Control of Influenza

4.3 Market Restraints

4.3.1 Product Safety and High Cost of Development

4.3.2 Stringent Government Regulations

4.3.3 Variability in Sensitivity and Specificity among Influenza Diagnostic Tests

4.4 Porter's Five Forces Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

5.1 Test Type

5.1.1 Traditional Diagnostic Test

5.1.1.1 Rapid Influenza Diagnostic Test (RIDT)

5.1.1.2 Viral Culture

5.1.1.3 Direct Fluorescent Antibody (DFA) Test

5.1.1.4 Serological Assay

5.1.2 Molecular Diagnostic Assay

5.1.2.1 RT-PCR

5.1.2.2 Nucleic Acid Sequence-based Amplification (NASBA) Test

5.1.2.3 Loop-mediated Isothermal Amplification-based Assay (LAMP)

5.1.2.4 Simple Amplification-based Assay (SAMBA)

5.1.2.5 Other Molecular Diagnostic Assays

5.2 End User

5.2.1 Hospital

5.2.2 Research Laboratory

5.2.3 Other End Users

5.3 Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.1.3 Mexico

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 United Kingdom

5.3.2.3 France

5.3.2.4 Italy

5.3.2.5 Spain

5.3.2.6 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 Japan

5.3.3.3 India

5.3.3.4 Australia

5.3.3.5 South Korea

5.3.3.6 Rest of Asia-Pacific

5.3.4 Middle East & Africa

5.3.4.1 GCC

5.3.4.2 South Africa

5.3.4.3 Rest of Middle East & Africa

5.3.5 South America

5.3.5.1 Brazil

5.3.5.2 Argentina

5.3.5.3 Rest of South America

6. COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Abbott

6.1.2 Becton, Dickinson and Company

6.1.3 Coris BioConcept

6.1.4 DiaSorin SpA

6.1.5 F. Hoffmann-La Roche Ltd

6.1.6 Luminex Corporation

6.1.7 Meridian Bioscience Inc.

6.1.8 Quidel Corporation

6.1.9 Sekisui Diagnostics

6.1.10 Thermo Fisher Scientific Inc.

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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