London, June 03, 2020 (GLOBE NEWSWIRE) -- According to a new market research report “Influenza Diagnostics Market by Test Type {[Traditional (RIDT, Direct Fluorescent Antibody, Viral Culture, Serology), Molecular [RT-PCR, INAAT (NASBA, LAMP)]}, End User (Hospitals, Laboratories, Academics, Research Institutes) – Global Forecast to 2027”, published by Meticulous Research®, the influenza diagnostics market is expected to grow at a CAGR of 7.9% from 2020 to reach $1.17 billion by 2027.
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Influenza disease spreads easily, with rapid transmission in crowded areas. Influenza epidemics can affect all populations, but children younger than the age of two, and adults older than 65, as well as the people with chronic medical conditions or weakened immune systems have the highest risk of complications. There are number of diagnostic technologies used to identify and diagnose influenza infections. Traditional methods for influenza diagnosis include rapid influenza diagnostics test (RIDT), viral culture, direct fluorescent antibody (DFA), and serological assays; and molecular diagnostic methods include polymerase chain reaction (PCR), isothermal nucleic acid amplification tests (INAAT), and other molecular tests. Nowadays, advanced technologies provide highly effective and accurate diagnosis of the influenza. Moreover, continued advancements in rapid influenza diagnostic testing (RIDT) has made this method an effective one for diagnosis because of its fast results and ease of specimen collection.
Impact of COVID-19 on Influenza Diagnostics Market
Influenza, which is commonly known as "the flu", is an infectious disease caused by an influenza virus. Influenza and COVID-19 have similarity in terms of symptoms. When compared to influenza with COVID-19, both viruses have a similar disease presentation i.e. they both cause respiratory issues. Moreover, both are transmitted by contact, droplets, and fomites. As a result, the same public health measures, such as hand hygiene and good respiratory etiquette, are important actions all can take to prevent these infections.
In the earlier stages of the COVID-19 outbreak, there was a wave of influenza infection in the U.S. from December 2019 to February 2020. This is a part of seasonal influenza. But, as the symptoms of influenza and COVID-19 are similar, the patient who has COVID-19 symptoms is even diagnosed with influenza. And there was a sudden increase in the demand for influenza diagnostic kits. After recognizing the differences in terms of transmission, reproductive number, age group, and others, the demand for influenza diagnostic kits was normalized; which further increased the need for differential diagnostics between COVID-19 and influenza.
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The influenza diagnostics market study by Meticulous Research® presents historical market data in terms of value (2018, and 2019), estimated current data (2020), and forecasts for 2027 -by test type and end user. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on test type, the traditional diagnostic tests segment is estimated to account for the largest share of the overall influenza diagnostics market in 2020. The large share of this segment is primarily attributed to the wide use of rapid influenza diagnostics tests (RIDTs) due to its cost-effectiveness and ability to provide test results in 15– 30 minutes. In addition, the availability of advanced diagnostic immunoassay formats and increasing usage of miniaturized devices in influenza diagnostics are further stimulating the growth of this segment. However, the molecular diagnostic tests segment is expected to grow at the fastest growth rate during the forecast period, due to their ability to identify mutated and non-mutated viral strains in real-time and are more specific, sensitive, and reproducible methods of diagnostic testing. Less requirement of the template material for the overall test is also supporting the growing use of molecular test formats. Increasing utilization of RT-PCR in proteomics & genomics and growing need for rapid diagnosis of viral & infectious diseases are some of the other factors expected to drive the growth of this segment.
Based on end user, the hospitals & clinical laboratories segment is estimated to command the largest share of the overall influenza diagnostics market in 2020, owing to the increasing number of outpatient visits for influenza diseases, increasing hospital expenditures, and growing technological advancement for diagnostic platforms in hospitals. However, the diagnostic reference laboratories segment is projected to register the fastest CAGR during the forecast period, mainly due to their nature of supporting the diagnosis required in patient care as well as medical research. Moreover, owing to curtailed reimbursements for laboratory testing services, hospitals prefer to outsource their diagnostic testing services to the large commercial laboratories and eliminate associated operational expenses required for maintaining in-house labs, thereby driving the market.
Geographically, North America region is estimated to dominate the overall Influenza diagnostics market in 2020, followed by Europe, and Asia Pacific. The factors such as increasing incidence of influenza, higher adoption for technologically advanced diagnostic products, and increase in the research and development activities for influenza supported the largest share of the North America region in the influenza diagnostics market. On the other hand, the Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period, which is mainly attributed to the increasing number of influenza incidence, rising aging population, increasing focus of key vendors in the diagnostics market on this region, favorable reimbursement scenario for diagnostic procedures, increasing government investments to support the healthcare sector, improving infrastructure & accessibility to healthcare, and rising demand for better healthcare.
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The report also includes extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry over the past 4 years (2017–2020). The influenza diagnostics market has witnessed number of new product launches & enhancements; acquisitions; partnerships & collaborations; and approvals in recent years. For instance, in March 2020, Thermo Fisher Scientific Inc. (U.S.) acquired QIAGEN N.V (Germany) to expand the specialty diagnostics portfolio with attractive molecular diagnostics capabilities.
The key players operating in the global influenza diagnostics market are Thermo Fisher Scientific Inc. (U.S.), Hologic, Inc. (U.S.), Quidel Corporation (U.S.), F. Hoffmann-La Roche AG (Switzerland), Abbott Laboratories, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Danaher Corporation (U.S.), Meridian Bioscience Inc. (U.S.),bioMérieux SA (France), Luminex Corporation (U.S.), Siemens Healthineers AG (Germany), GenMark Diagnostics, Inc. (U.S.), Sekisui Diagnostics, LLC (U.S.), altona Diagnostics GmbH (Germany), SA Scientific, Ltd. (U.S.), and ELITech Group (France), Coris Bioconcept SPRL (Belgium), and Mast Group Ltd.(U.K.), among others.
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Scope of the Report:
Influenza Diagnostics Market by Test Type
- Traditional Diagnostic Tests
- Rapid influenza diagnostic tests (RIDTs
- Direct Fluorescent Antibody (DFA) Tests
- Viral Culture
- Serological Assays
- Molecular Diagnostic Tests
- 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
- Other Molecular Diagnostic Tests
- Reverse Transcription Polymerase Chain Reaction (RT-PCR)
Influenza Diagnostics Market by End User
- Hospitals & Clinical Laboratories
- Diagnostic Reference Laboratories
- Academic/Research Institutes
- Others
Influenza Diagnostics Market by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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