Influenza Diagnostics Market Share Estimated to Reach USD 1.46 Billion By 2032, at 7.1% CAGR Growth: Polaris Market Research

The global influenza diagnostics market size and share are currently valued at USD 0.79 billion in 2023. It is anticipated to generate an estimated revenue of USD 1.46 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.1% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032. Some of the top market players are Abbott Laboratories, Becton, Dickinson and Company (BD), bioMérieux SA, F. Hoffmann-La Roche Ltd., Luminex Corporation and others.

New York, NY, March 08, 2024 (GLOBE NEWSWIRE) — The latest research report [115+] pages with 360-degree visibility, titled “Influenza Diagnostics Market Share, Size, Trends, Industry Analysis Report, By Product (Instruments, Test Kit and Reagents, Others); By Test Type; By End Use; By Region; Segment Forecast, 2024- 2032″ published by Polaris Market.

The global influenza diagnostics market size and share are currently valued at USD 0.79 billion in 2023. It is anticipated to generate an estimated revenue of USD 1.46 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.1% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.

Market Definition

  • What is Influenza Diagnostics? How Big is Influenza Diagnostics Market Share?

Influenza can be hard to diagnose as its most apparent indicators, such as fever, coughs, and aches, are homogenous to several other customary diseases. Healthcare donors have many varied ways to decide if the patient has the flu. The rapidly rising demand for the influenza diagnostics market can be attributed to the fact that speedy influenza diagnostics tests can distinguish influenza in under 30 minutes utilizing swabs or specimens of discharge seized from a patient’s nose or throat. However, these tests can capitulate incorrect beneficial or incorrect dismissive outcomes, and they might need to be capable of specifying which particular strain of flu the patient has.

The influenza diagnostics market growth can be attributed to government resourcefulness and financing for influenza scrutiny. Governments extensively fund observation schemes to observe eruptions, trace virus genera, and execute public health proceedings. This resourcefulness intends to expose and counter influenza outbreaks, decreasing healthcare implications and reducing public health influence.

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Influenza Diagnostics Market Key Companies

  • Abbott Laboratories
  • Becton, Dickinson and Company (BD)
  • bioMérieux SA
  • Bio-Rad Laboratories, Inc.
  • CorisBioConcept
  • DiaSorin S.p.A.
  • F. Hoffmann-La Roche Ltd.
  • GenMark Diagnostics, Inc.
  • Hologic, Inc.
  • Luminex Corporation
  • Meridian Bioscience, Inc.
  • Quidel Corporation
  • SA Scientific, Ltd.
  • Sekisui Diagnostics
  • Thermo Fisher Scientific Inc.

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Key Highlights

  • Government resourcefulness and financing for influenza scrutiny are trigger points for market growth.
  • The influenza diagnostics market segmentation is primarily based on product, test type, end-use, and region.
  • North America dominated the market in 2023.

Market Developments

  • Growth Drivers:

Growing cases of influenza: The market is proliferating because of growing cases of influenza worldwide. Influenza, owing to influenza viruses, undergoes seasonal epidemics affected by viral genus dissimilarities, escalated travel, and expansion. The influenza diagnostics market size is expanding as healthcare donors classify premature diagnosis for swift patient management and infection regulation, pushing demand for influenza diagnostics instruments such as speedy antigen tests and molecular assays. Continuing research concentrates on improvising diagnostic preciseness and acceleration with progressions such as nucleic acid magnification methodologies pushing innovation.

Growing acquisition of POCT: The market is surging because of the growing acquisition of point-of-care testing (POCT). The influenza diagnostics market sales are soaring as POCT provides speedy and precise outcomes supporting swift therapy resolution and epidemic isolation. Healthcare provisions involving clinics and pharmacies are amalgamating POCT gadgets to rationalize diagnostics and enhance patient care, particularly in distant regions.

  • Industry Trends:

Government subsidized vaccination initiatives: Governments issue funds for inventive diagnostic techniques and vaccines. The alliance between government organizations, research centers, and diagnostic firms pushes innovation in progressive diagnostic unfolding, such as speedy point-of-care testing (POCT) devices. Government-subsidized vaccination initiatives and consciousness crusades additionally encourage influenza prohibition, pushing demand for diagnostics.

Technological progressions: Technological progressions in diagnostic approaches are transfiguring the market. In the influenza diagnostics market, conventional procedures such as viral culture and serological assays are being substituted by molecular techniques such as PCR and NAATs providing improvised reactivity and swiftness. Point-of-care testing gadgets permit speedy on-scene discernment, accelerating patient handling.

  • Restraints

Regulatory challenges: Administrative provocations and adherence needs present obstacles for the market. Strict instructions warrant the security and productivity of diagnostic tests, demanding substantial testing and authentication for administrative acceptance. Adjusting to progressing administrative levels appends intricacy and commands recurrent refurbishing by makers. Further, negotiating administrative structures covering regions elaborates market arrival and augmentation endeavors.

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Segmentation Overview

  • The Test Kit and Reagents Segment Witnessed a Steep Rise

The test kit and reagents segment witnessed a steep rise based on product. The influenza diagnostics market demand is on the rise, as during the flu season, these kits encounter compatible demands covering healthcare backdrops because of their precision and convenience. Technological advancements improve their reactivity and particularity, while government enterprise and pandemic precaution endeavors push funding. The worldwide illness weight of influenza highlights the requirement for productive diagnostic solutions.

  • The Rapid Influenza Diagnostics Test (RIDT) Segment Dominated the Market

Based on tests, the rapid influenza diagnostics test (RIDT) segment dominated the market. The influenza diagnostics market trend includes speedy outcomes, approachability, and serenity of management, rendering RIDT critical in healthcare situations needing instant identification. Its economic juxtaposition to molecular methodologies also assists in its approval, especially in resource-restricted settings. Further, the entrenched faith among healthcare workers and administrative consent push its acquisition.

Influenza Diagnostics Market: Report Scope & Dynamics

Report Attribute Details
Revenue Forecast in 2032 USD 1.46 billion
Market size value in 2024 USD 0.84 Billion
Expected CAGR Growth 7.1% from 2024 – 2032
Forecast Year 2024 – 2032
Top Market Players
  • Abbott Laboratories
  • Becton, Dickinson and Company (BD)
  • bioMérieux SA
  • Bio-Rad Laboratories, Inc.
  • CorisBioConcept
  • DiaSorin S.p.A.
  • F. Hoffmann-La Roche Ltd.
  • GenMark Diagnostics, Inc.
  • Hologic, Inc.
  • Others
Segments Covered
  • By Product
  • By Test Type
  • By End Use
  • By Region
Customization Options Customized purchase options are available to meet any research needs. Explore customized purchase options

Regional Insights

North America: The region held the largest influenza diagnostics market share due to its progressive healthcare framework, strict administrative caliber, and escalated disease weight. The region’s healthcare provisions and research establishments push innovation in diagnostic technologies, encountering the demand for speedy and precise influenza discernment. With notable funding in healthcare, North America preserves a strong market for diagnostic solutions.

Asia Pacific: This region is anticipated to encounter notable growth due to its concentrated population and escalated cases of influenza. There is a critical requirement for productive diagnostic solutions. Enhanced healthcare framework and growing consciousness further push demand, while urbanization and escalated travel make possible virus proliferation, requiring strong diagnostic potential.

Browse the Detail Report “Influenza Diagnostics Market Share, Size, Trends, Industry Analysis Report, By Product (Instruments, Test Kit and Reagents, Others); By Test Type; By End Use; By Region; Segment Forecast, 2024- 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/influenza-diagnostics-market

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Key Questions Addressed in the Report:

  • What is the expected industry size of the influenza diagnostics market?

Ans: The market size is anticipated to reach USD 1.46 billion by 2032.

  • Who are the top market players?

Ans: The top market players include Abbott Laboratories, Becton, Dickinson and Company (BD), bioMérieux SA.

  • Which region contributes notably towards the market?

Ans: North America contributes notably towards the market.

  • What will be the expected CAGR of the market during the forecast period?

Ans: The expected CAGR will be 7.1% during the forecast period.

Polaris Market Research has segmented the Influenza Diagnostics market report based on product, test type, end use, and region:

By Product Outlook

  • Instruments
  • Test Kit and Reagents
  • Others

By Test Type Outlook

  • RIDT
  • Cell Culture
  • RT-PCR
  • Others

By End Use Outlook

  • Hospitals
  • Diagnostic Laboratories
  • Others

By Region Outlook

  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea, Australia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high growth markets, emerging business environments and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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