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Influenza Diagnostic Global Market Report 2023
Major players in the influenza diagnostics market are F. Hoffmann-La Roche Ltd, Quidel Corporation, ?h?rm? F??h?r, Abbott Laboratories, Hologic, Becton Dickinson and Company, DiaSorin S.p.A., Luminex Corporation, Meridian Bioscience Inc.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Influenza Diagnostic Global Market Report 2023" - https://www.reportlinker.com/p06229177/?utm_source=GNW
and GenMark Diagnostics.
The global influenza diagnostic market will grow from $2.42 billion in 2022 to $2.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The influenza diagnostic market is expected to grow to $3.37 billion in 2027 at a CAGR of 6.8%.
The influenza diagnostic market includes revenue earned by test kit and reagents, and other products.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Influenza diagnostic is the test used to diagnose influenza including viral culture, serology, rapid antigen testing, reverse transcription-polymerase chain reaction (RT-PCR), immunofluorescence assays, and rapid molecular assays.Influenza, commonly known as flu, is a contagious illness caused by the influenza virus.
Three varieties of this virus affect people: type A, type B, and type C.Common symptoms include fever, sore throat, cough, body ache, fatigue, and headache.
The market consists of revenues generated by establishments conducting diagnostics tests for influenza virus detection.
North America was the largest region in the influenza diagnostics market in 2022.Western Europe was the second largest region in the influenza diagnostics market.
The regions covered in the influenza diagnostic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main traditional diagnostic test types of influenza diagnostics are rapid influenza diagnostic tests (RIDT), viral culture, DFA, serological assays and others. Rapid influenza diagnostic tests (RIDTs) are immunoassays that can detect the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens and provide a qualitative result (positive vs. negative). The various molecular diagnostic tests include Reverse Transcription Polymerase Chain Reaction (RT-PCR), Isothermal Nucleic Acid Amplification Tests (INAAT), loop mediated isothermal based amplification assays, transcription mediated isothermal based amplification assays, transcription mediated isothermal based amplification assays, other isothermal nucleic acid amplification tests and are used by hospitals and clinical laboratories, diagnostic reference laboratories, academic/research institutes, other end users.
The major factor driving the market is increasing funding for research on influenza diagnostics.Addressing the public health impact of influenza disease requires a proper understanding of the virus and its effect on individuals and populations.
Therefore, it is important to accelerate the pace of scientific research progress that can have the greatest public health impact.Many public and private health organizations, researchers, health professionals, biopharmaceutical companies have maximized the spending for research funds or grants to reduce the risk of the emergence of pandemic influenza.
For instance,in April 2021, the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health, funded $24 million to help five Centres of Excellence for Influenza Research and Response (CEIRR), including the one at St.Jude Children’s Research Hospital.
More than $8.9 million of the first year’s funding for St. Jude’s research provided by the federal contract was to understand better, forecast, track, and treat developing influenza and other viruses.
The variability in sensitivity and specificity among the influenza diagnostic tests is restraining the growth of the market.In most rapid flu tests, there are difficulties in identifying patients with influenza.
The sensitivity of rapid flu tests ranges from 10-80% across various patient populations.Most diagnostic tests show an increase in the rate of false-negative results during low influenza virus activity, which often leads to an incorrect diagnosis.
Thus, the variability in sensitivity and specificity is restraining the growth of the influenza diagnostic market.
Rapid influenza diagnostic tests (RIDTs) are increasingly being implemented in influenza diagnostics. RIDTs are immunoassays which can identify the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens and display the result in a qualitative way (positive vs. negative). It can yield results in a clinically relevant time frame of less than approximately 15 minutes and diagnose patients, who are present with influenza-like illness, mainly if it is performed within the first four days of the onset of symptoms. The rising popularity of RIDT is due to the benefits such as simple to use and rapid diagnosis.
In February 2021, Thermo Fisher Scientific Inc., a US-based company specialising in clinical development, acquired Mesa Biotech, Inc. for an undisclosed amount. Through this acquisition, Thermo Fisher will increase manufacturing volume, achieve cost efficiencies, and deliver much-needed diagnostics to market faster and at a larger scale. Mesa Biotech, Inc. is a US-based infectious disease diagnostic company.
The countries covered in the influenza diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The influenza diagnostic market research report is one of a series of new reports that provides influenza diagnostic market statistics, including influenza diagnostic industry global market size, regional shares, competitors with a influenza diagnostic market share, detailed influenza diagnostic market segments, market trends and opportunities, and any further data you may need to thrive in the influenza diagnostic industry. This influenza diagnostic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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