The global influenza diagnostics market was valued at USD 0.9 billion in 2021 and it is anticipated to grow further till USD 1.6 billion by 2031, at a CAGR of 5.9% during the forecast period.
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The influenza virus is the infectious disease that causes influenza, also referred to as “the flu.” Flu is identified and diagnosed using a variety of conventional and molecular diagnostic tools. Modern technology is able to diagnose influenza quite effectively and precisely. For instance, the real-time molecular test known as the reverse transcription-polymerase chain reaction (RT-PCR) allows for the identification of influenza genetic material. Furthermore, due of its quick results and simple specimen collection, rapid influenza diagnostic testing (RIDT) has become an efficient approach for diagnosis.
Market Trends and Drivers
R&D efforts for better detection and diagnosis of influenza have intensified due to its rising frequency globally. The majority of research efforts concentrate on creating quicker and more precise diagnostic tools for influenza viruses, which will spur market expansion. Similarly, Numerous assays and technologies helpful for the diagnosis and treatment of influenza infections have been developed as a result of the enormous quantity of data produced by the Human Genome Project and developments in molecular and biomedical technologies. These new genomic and proteomic technologies, such as microarray-based detection and PCR-based approaches, aid in the identification of novel influenza viruses. Additionally, they allow for quicker and better surveillance of infectious diseases, which presents a business opportunity.
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Global Influenza Diagnostics Market by End User
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the global influenza diagnostics market. The North American influenza diagnostics markets growth is primarily attributed to the growth in influenza research for diagnostic technologies and increasing prevalence of influenza.
Major Players in the Global Influenza Diagnostics Market
The key players in the market are Danaher Corporation (US), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (US), F. Hoffmann-LA Roche AG (Switzerland), Abbott Laboratories, Inc. (US), Hologic, Inc. (US), bioMérieux SA (France), Quidel Corporation (US), Becton, Dickinson and Company (US), Meridian Bioscience (US), GenMark Diagnostics, Inc. (US), Luminex Corporation (US), Tecan Trading AG (Switzerland), DiaSorin SA (Italy), and altona Diagnostics GmbH (Germany) among others.
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COVID-19 Impact
The onset of the COVID-19 pandemic has altered how medical treatment is provided globally. The COVID-19 pandemic has had a substantial impact on the market for influenza diagnostics; unfavorable changes in rules and standards, the closure of factories owing to lockdowns, and interruptions in supply chains have all had a negative impact on market growth. The availability of influenza diagnostics products to end customers has also been affected by restricted operations in the majority of businesses, insufficient funding for academic and research institutions, and difficulties in delivering necessary or post-sale services because of lockdowns. Additionally, there are significant parallels between COVID-19 and influenza; both COVID-19 and seasonal flu (influenza A and B) are infectious viruses and exhibit similar respiratory illness symptoms. Infection outbreaks typically happen between December and February. The COVID-19 outbreak happened at the same time as the flu season, which led to a rise in the use of influenza tests at that time. Despite the difficult situation, supply and distribution channels have restarted, and industries are gradually recovering from the damage.
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