Dublin, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The "Influenza Diagnostics Market by Test Type, by End-user, Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Influenza Diagnostics Market is predicted to grow at a CAGR of 6.3% during the forecast period, expecting to grow from $4 billion in 2020 to a value of $5.8 billion in 2026. The market study is segmented by test type, end-user and geography.
The factors pushing market growth forward are the globally increasing cases of influenza, the given preference for quick diagnosis, an increasing elderly population where the chances of effecting are high, and the advancements in the diagnosis & various tests. In addition, the developing advanced genomics and proteomics technology also fuel the demand. Although some aspects, such as increasing hospital expenses, the discrepancy in the test sensitivity & test specificity, and restricted regulations are hampering the influenza diagnostics market growth.
Globally, a major factor affecting the market is the present COVID-19 Pandemic situation. COVID-19 is also a contagious disease where the virus is attacking the respiratory system, and the influenza tests are increasing due to this pandemic.
Majorly, the RIDT diagnostic test in traditional diagnostics test is the most demanding segment based on the test type due to simple usage procedure and the low cost of diagnosis. Moreover, it is significant in the situation of a low-resource setting and also easy to read and less time-consuming procedure. Hence, the RIDT diagnostic test segment has the largest share in the influenza diagnostics market.
The majority of the influenza diagnostics market share is acquired by the hospital segment based on the end-users. However, the influenza tests are frequently carried by the hospitals due to its complicated nature and also require advanced technology products to carry the influenza diagnosis.
As per the geographical analysis, the market is segmented by North America, Europe, Asia Pacific, and the rest of the world. Compared to the other regions, North America has acquired the largest share in the market due to the rising incidence of respiratory diseases such as influenza and the increasing demand for the influenza screening test in this region. Asia Pacific region is estimated to have the fastest growth in the market with the rapidly increasing population, which is leading to the spread of contagious diseases while the government is stepping up its initiatives to reduce the spread of contagious diseases.
Globally, the contagious diseases are increasing; hence, the influenza diagnostics enable to identify influenza the most contagious disease. Majorly two factors emphasizing the influenza diagnostics market growth are the increasing elderly population as the old generation is weak, and lack of immunity can cause influenza and the increasing investments in influenza diagnostic research.
Somehow, the rising cost of kits and reagents in the influenza diagnostics is the major aspect hindering the market growth. Moreover, the advancements in technology and the innovations in developing the quick, precise, and low-cost diagnosis for diseases is the major aspect creating an opportunity for the influenza diagnostics market players.
This report gives an in-depth analysis of the drivers, challenges, and opportunities of the influenza diagnostics market.
- The analysis based on the segmentation such as test type, end-users and geography is provided in this report
- This report also provides the strengths and weaknesses, portfolio analysis, capability analysis of the leading players
- The report will also help the research organization of influenza diagnostics to support their research in the advancements in the tests for the better diagnosis
- Quantitative analysis of the market enables users to understand the contribution of the major regions in the market growth.
- Quidel Corporation Inc.
- Abbott Laboratories Inc.
- Hologic Inc.
- Becton, Dickinson and Company
- Danaher Corporation
- Diasorin SA
- Meridian Bioscience
- Luminex Corporation
- bioMerieux SA
- Genmark Diagnostics Inc.
- Siemens Healthineers
- Thermo Fisher Scientific
- Tecan Trading
- Sekisui Diagnostics
- F. Hoffmann-La Roche AG
- SA Scientific Ltd.
- Altona Diagnostics GmbH
- Coris Bioconcept SPRL
- Elitech Group
For more information about this report visit https://www.researchandmarkets.com/r/nmr663
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