ID: MRFR/MED/2264-CR | April 2019 | Region: Global | 153 pages
Market Research Future (MRFR) studied the Influenza Diagnostics Market 2020 through the review period till 2023. As per MRFR assessment, the influenza diagnostics market can register 7.80% CAGR by end of the analysis tenure. By 2023, the influenza diagnostic market can earn USD 954.512 Mn valuation. A contagious respiratory infection induced by several flu viruses is called influenza. Every year, a large number of people is afflicted with seasonal influenza that result in hospitalizations and flu-related deaths of a large number of people, especially the aging patient population.
The impact evaluation of the influenza diagnosis market for COVID-19 is recorded in the report. The report details the impact of new policies by governments on the healthcare field due to the pandemic. The outbreak of COVID 19 has detrimental effect on the world health and medical system. The report describes solutions that are deployed to counter the decline in healthcare system of the world. Other major issues are elaborated in detail in the report.
Growing Prevalence of Influenza to Support Market Rise
The growing prevalence of influenza creating the need to deliver effective treatment can favor the expansion of the influenza diagnostic market. In addition, a rise in funding for research in influenza diagnosis can add to the market expansion. The fast-growing demand for quick diagnostic solutions can favor market expansion in the years to come. The increase in awareness about such disease and the introduction of quadrivalent influenza vaccines can drive the influenza diagnostics market in the coming years.
Startups Explore Untapped Market Potential
The emergence of startups exploring the untapped potential of the market can contribute to the creating of numerous revenue generation pockets for the market by 2023. The introduction of disruptive technologies, such as artificial intelligence, favoring innovations in diagnostic solutions can support the market rise.
Hike in Medical Care Cost to Inhibit Market Growth
The gradual rise in healthcare expenses and issues with inaccuracy in diagnostic solutions can hinder the influenza diagnostics market rise in the years to come.
By Type of Flu
The type A flu segment can rise at a substantial pace with decent CAGR. The segment can acquire a USD 954.512 Million influenza diagnostics market share by 2023. The type B flu segment can rise at 8.66% CAGR from 2018 to 2023. The increase in initiatives by the government to curb influenza is likely to boost market growth.
By Test Type
The molecular diagnostic tests segment can exhibit the highest CAGR along the evaluation tenure as physicians are inclined towards accurate diagnostic solutions. The traditional diagnostics segment can also thrive in the approaching years.
The point of care testing segment can retain the leading position in the global influenza diagnostics market by 2023. The segment can exhibit decent CAGR through the analysis tenure. An increase in number of clinicals dedicated to diagnosis and treatment of influenza can drive the hospital and clinical laboratories segment growth.
Americas Market to Thrive by 2023
In Americas, the influenza diagnostics market can secure 38.0% share of the global market value by 2023. The regional influenza diagnostics market can thrive across the forecast tenure due to increase in prevalence of influenza and the ease of availability of advanced healthcare facilities.
EU Influenza Diagnostics to Gain Momentum
In Europe, the aviation test equipment market can secure the second-largest share of the global market. The rise in count of pharmaceutical companies dealing in exporting their products is also responsible for growth of the regional market. Rise in disease awareness, and extended recommendations by advisory bodies and governmental for vaccination against influenza can contribute to the market upsurge.
APAC Market to Hold Forefront Position
Asia Pacific influenza diagnostics market can secure the forefront position in the global lead. This can be attributed to rapid development in healthcare infrastructure and growing prevalence of endocrinology, lymphatic systems, cardiovascular, and respiratory disorders.
MRFR enlisted renowned companies that are operating in the global influenza diagnostics market. The competitive analysis of the influenza diagnostics market consists of market share analysis, financial analysis, and product benchmarking. Alongside, strategic developments in the market that include mergers & acquisitions, product launches, and joint ventures are also studied by MRFR analysts that can help in understanding regional progress and growth scopes offered by these enterprises.
List of Key Companies Covered in this Report
Market analysis, sizing, and forecast of the influenza diagnostics market are covered in the report. The country-level assessment of the market and associated forecasts are explained in the influenza diagnostics market report. The expansion of the influenza diagnostic controlling market dynamics intelligence that includes, market drivers, opportunities, supply chain, restraints, trends, value chain analysis, and Porter’s five forces are studied by MRFR analysts. Patent analysis outlook, Technology trends, and regulatory landscape of the market is detailed in the report to help investors acquire an in-depth understanding of the market and associated activities.
By Type of Flu
By Test Type
|Market Size||USD 954.512 Mn|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type of Flu, Test Type, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Coris BioConcept, DiaSorin S.p.A, Alere Inc., Lonza, Ortho-Clinical Diagnostics, Qiagen, Wako, Abbott, Analytik Jena AG, Becton, Dickinson and Company, Biocartis, bioMérieux Inc, Cepheid, DiaSorin S.p.A., F., Hoffmann-La Roche Ltd, GenMark Diagnostics, Inc., Luminex Corporation, Meridian Bioscience, Inc., Quidel Corporation, SA Scientific, Thermo Fisher Scientific Inc.|
|Key Market Opportunities||Startups Explore Untapped Market Potential|
|Key Market Drivers||Growing Prevalence of Influenza to Support Market Rise|
Frequently Asked Questions (FAQ) :
The global influenza diagnostics market is expected to reach a valuation of USD 954.5 million by 2023.
The global market is expected to exhibit a strong 7.8% CAGR over the forecast period from 2020 to 2027
The growing prevalence of influenza is the major driver for the market.
The Americas accounted for the largest market share of 38% in 2017.
Leading players in the influenza diagnostics market include Abbott, Becton Dickinson and Company, DiaSorin SpA, Cepheid, and Thermo Fisher Scientific, among others.