New York, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global rapid influenza diagnostics market size is slated to expand at ~9% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 36 billion by the end of 2036, up from a revenue of ~USD 10 billion in the year 2023.The need for virologic diagnosis has grown as clinical management, infection control, and public health initiatives, accurate diagnosis of influenza is essential therefore, there is an increase in the development of laboratory diagnostic techniques for influenza virus infection, which may lead to the development of vaccines and advanced diagnostic techniques.
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For instance, recently Researchers from the Gwangju Institute of Science and Technology created metal-enhanced fluorescence probes for influenza virus detection by utilizing molecules that glow in the presence of a virus load in order to make molecular diagnosis quick, precise, and economical[SP1] .
Rapid Diagnosis of Influenza Infection in Older Adults is to Boost Market Growth
It was found in a survey that the sensitivity and specificity of ImunoAce Flu for influenza A virus were more than 95% in senior patients who were 65 years of age or older. Often a seasonal virus, influenza, sometimes known as the flu, affects elderly people since not everyone who gets the vaccine is protected against influenza, which is also one of the main causes of death in the elderly as they have compromised immune systems. The common cold or the flu can frequently cause difficulties in older persons therefore, early detection of influenza in the elderly is important and has fueled the demand for rapid influenza diagnostics that can detect the presence of influenza A and B viral nucleoprotein antigens that can reduce the inappropriate use of antibiotics by helping in choosing the right antiviral therapy.
For instance, Influenza A or B viruses cause symptomatic illnesses in over 4% of adults and more than 15% of children worldwide each year.
Rapid Influenza Diagnostics Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Burden of Diabetes to Drive the Growth in the North American Region
The rapid influenza diagnostics market in North America region is estimated to garner the largest revenue by the end of 2036 owing to growing prevalence of diabetes. In the US, diabetes cases are rising at a startling rate since over the past 30 years, the number of adults in the Americas living with diabetes has more than tripled due to a combination of causes including rising obesity rates, poor diets, and a lack of physical activity. For instance, in the United States, there were over 23 million diabetics in 2021, and by 2040, there will be more than 105 million diabetics in the region if current trends continue. Compared to persons without any underlying medical conditions, diabetic patients are more susceptible to influenza complications as they lose control over their blood sugar levels. Furthermore, all these factors are expected to fuel the demand for rapid diagnostic tests for influenza in the region since diabetes patients who contract influenza have a substantial morbidity burden, as evidenced by a higher risk of death and more frequent hospitalizations.
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The Growth in the Prevalence of HIV to Drive the Growth in the APAC Region
The Asia Pacific rapid influenza diagnostics market is estimated to garner the largest revenue by the end of 2036. For instance, India is currently home to the second-highest population of persons living with HIV and AIDS, with more than 5 million infections. Moreover, the northern part of India has the highest rates of HIV prevalence because of drug injection using contaminated equipment. HIV or AIDS targets the immune system, which is a common cause of respiratory illness that makes individuals with these conditions most susceptible to influenza. This as a result is anticipated to create a huge demand for rapid influenza diagnostics in the region since it potentially aids in the prevention of transmission, direct patient care, and enable early diagnosis.
According to estimates more than 2 million persons were living with HIV in India in 2021.
Rapid Influenza Diagnostics Segmentation by End-User
- Hospitals
- Diagnostic Centers
- Research Laboratories
- Office-Based Settings
- Nursing Home
The diagnostic centers segment in rapid influenza diagnostics market is anticipated to hold the largest revenue by the end of 2036. The growth can be attributed to the growing incidence of influenza across the globe. This has increased the awareness of the significance of diagnostic centers to facilitate the identification of influenza in a patient presenting with particular symptoms or indicators which also motivates vaccination, the greatest way to reduce the risk of seasonal flu and its possibly harmful effects, for people's health and wellbeing.
Every year, influenza results in over 3 million instances of severe respiratory tract illnesses and more than 5 million respiratory fatalities around the world.
Rapid Influenza Diagnostics Segmentation by Test Type
- Influenza A+B Test
- Influenza A Test
- Influenza B Test
The influenza A+B test segment is anticipated to hold the largest revenue by the end of 2036. The growth can be attributed to the increasing number of people with respiratory disorders. Influenza A+B immunoassays are used for the rapid, qualitative detection of Influenza type A and type B and are also used to determine outbreaks of respiratory disease by using a sample of nose and mouth swabs of the infected individual.
According to estimates, around 30 million Americans suffer from chronic obstructive pulmonary disease (COPD), which ranks third among all causes of death in the nation.
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A few of the well-known industry leaders in rapid influenza diagnostics market that are profiled by Research Nester are Thermo Fisher Scientific Inc., Hologic, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Abbott Laboratories, BD, F. Hoffmann-La Roche Ltd, NeuroLogica Corp., GENERAL ELECTRIC, Quest Diagnostics Incorporated, DiaSorin SpA
Recent Development in the Rapid Influenza Diagnostics Market
- Abbott received approval from the U.S. FDA for D NOW INFLUENZA A & B 2 rapid influenza diagnostic testing device that allows for the rapid molecular differentiation and identification of the influenza A and B viruses.
- DiaSorin SpA acquired Luminex Corporation to increase the number of diagnostic products available in the US, especially those for influenza diagnosis with an intent to strengthen the company's standing in the market and help it attract more customers.
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