Global Influenza Diagnostics Market Report 2022 to 2030 - Increasing Prevalence of Chronic Diseases and Government Initiatives to Counter Influenza is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Nov 21, 2022--

The "Influenza Diagnostics Market Size, Share & Trends Analysis Report by Test Type (RIDT, RT-PCR, Cell Culture), by End-use (Hospitals, Laboratories, POCT), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global influenza diagnostics market size is expected to reach USD 1.46 billion by 2030. The market is anticipated to expand at a CAGR of 3.5% from 2022 to 2030.

The increasing surveillance of the infection and the rising prevalence of chronic diseases around the world are contributing to the demand for influenza diagnostics. For instance, in September 2022, National Influenza Centres and other laboratories from 102 countries tested over 112,017 specimens between 22 August 2022 to 04 September 2022. Out of those, 3,879 tested positive for influenza viruses.

The increasing involvement of international organizations and regulations, such as WHO and the U.S. Department of Health & Human Services to control the spread of infection. The organizations are indulging in comprehensive research and development of a vaccine for influenza. It has been observed that various companies such as VIDRL, Seqirus, and CDC are developing cell culture-based vaccines. Thus, this strategic initiative is likely to have a positive impact on the market through increasing demand for cell culture technology.

For instance, in September 2022, WHO used a certified cell line including NIID-MDCK for isolating the human influenza virus. The organization also performed genetic and antigenic analysis on the cell culture-based candidate vaccine viruses. The vaccine candidates have passed two-way virus neutralization tests or hemagglutination inhibition against the cell culture prototype viruses and match the recommendation by WHO. It is anticipated that cell-culture-derived vaccine candidates will be available for development and production in 2023.

During the COVID-19 pandemic, the surveillance to monitor and detect the influenza virus drastically decreased. Similarly, the trend was witnessed in flu-related hospitalization cases between October to April. For instance, from October 2019 to April 2020, approximately 19,299 cases of hospitalization were reported in the U.S.

While in the same months in 2020-21, only 232 cases were reported, hence, approximately 98% fall in the cases during the peak of COVID-19. However, WHO recommended countries be ready for the co-circulation of COVID-19 and influenza viruses. This encourages the regional regulations to integrate the surveillance program and step-up vaccination campaigns for flu.

The growing availability of point-of-care testing (POCT) in the area of rapid diagnostics of infectious diseases including flu, is expected to increase the demand for influenza diagnostics in developing countries. For instance, a study was conducted in October 2022, to assess the POCT scope for infectious diseases in European countries. As per the study, under surveillance, POCT is widely used for infectious diseases with significant incidence rates, such as HIV and flu.

Moreover, at the global level, flu activity is considerably low. As per the September 2022 report by WHO, the South African region has witnessed a significant rise in flu activity in the past few weeks, and majorly with influenza B viruses were reported. However, in regions such as Central Asia and Northern Africa, no detection of flu was reported. Decreasing incidence rates is anticipated to impact the growth of the market through low product development by companies.

Influenza Diagnostics Market Report Highlights

• By test type, the RIDT segment held the largest share in 2021 and is expected to exhibit the fastest CAGR over the forecast period. Owing to the increasing strategic initiatives such as product development and expanding the scope of usage to public events by the companies, hence, driving the market growth
• By end-user, the hospital segment held the largest revenue share in 2021. This is attributed to the growing presence of underlying medical conditions such as asthma and other chronic health conditions, which increases the risk of flu complications
• North America has established a strong regional position in the market with 32.9% of the overall market share. Owing to the increasing accessibility of data on the influenza burden to the companies, and rising surveillance testing in the region
• A few of the key market players include Becton, Dickinson and Co; Quidel Corporation; F. Hoffmann-La Roche Ltd; Abbott; Thermo Fisher Scientific, Inc.; and Meridian Bioscience

Market Dynamics

Drivers

• Rising Geriatric Population
• Increasing Prevalence of Chronic Diseases
• Government Initiatives to Counter Influenza
• Technological Advancements

Restraints

• Product Safety and High Development Costs

Companies Mentioned

• Thermo Fisher Scientific, Inc
• 3M
• Becton, Dickinson and Company (Bd)
• Abbott Laboratories, Inc.
• Meridian Bioscience, Inc.
• Quidel Corporation
• F. Hoffmann-La Roche AG
• Sa Scientific
• Thermo Fisher Scientific, Inc.
• Hologic, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/gxp8wc

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KEYWORD:

INDUSTRY KEYWORD: INFECTIOUS DISEASES PHARMACEUTICAL HEALTH

SOURCE: Research and Markets

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