The global market for influenza diagnostic is projected to have a considerable CAGR of around 8.3% during the forecast period. Influenza is a contagious respiratory illness that the influenza virus causes leading to the infection of the nose, throat, and sometimes the lungs. It can result in mild to severe illness and sometimes can lead to death. Three types of influenza virus affect people that includes: type A, type B, and type C. Influenza is spread via infectious respiratory secretions that are caused by the formation of aerosol due to direct contact with an infected person. Influenza can cause seasonal epidemics along with high levels of mortality and morbidity. Factors such as the increasing prevalence of influenza and related chronic disease along with the rising geriatric population base are driving the growth of the market. According to the Centers for Disease Control and Prevention estimates, influenza has resulted in between 9 million to 45 million illnesses, between 140,000 - 810,000 hospitalizations and between 12,000 – 61,000 mortalities annually since 2010. 

The R&D expenditure by the government intending to better influenza diagnostic and increase in the number of hospitals coupled with influenza diagnostic treatment facilities also contribute to the growth of the market. Moreover, the increasing price of diagnostic kits, reagents, and complex regulatory framework for new diagnostic test approval hinder the growth of the market. Moreover, there is a huge opportunity for the global influenza diagnostic market in the near future due to enormous funding and investment, and support provided by the government for influenza diagnostics. The global influenza diagnostic market has positively impacted by the outbreak of the COVID-19 pandemic. Due to an increase in cases, the demand for influenza diagnostic had increased that further boosting the market growth.   

Segmental Outlook  

The global influenza diagnostic market is segmented based on test type and end-user. Based on test type, the market is bifurcated into molecular diagnostic assays and traditional diagnostic tests. Further, the molecular diagnostic tests are diversified into RT-PCR, LAMP, and NASBA. Similarly, the traditional diagnostic tests are diversified into rapid influenza diagnostic tests (RIDT), serological assays, and viral culture. On the basis of end-user, the influenza diagnostic market is classified into hospitals & diagnostic centers, research & academic institutes, contract research organizations (CRO). Among these end-users, the hospital &diagnostic centers segment is expected to hold the largest share during the forecast period owing to the increase in the number of hospitals with advanced influenza diagnostic treatments and facilities. 

Global Influenza Diagnostic Market Share by Test Type, 2020 (%)

The RIDT Segment Hold the Largest Share in Influenza Diagnostic Market

Among traditional diagnostic tests, the RIDT segment is projected to dominate the global influenza diagnostic market with significant CAGR during the forecast period. The Rapid influenza diagnostic tests (RIDTs) are antigen detection assays that can detect influenza viral antigens in 10-15 minutes with moderate sensitivity (50-70%) and high specificity. Additionally, this method is proved to be better than the other traditional influenza diagnostic methods by the US FDA. Moreover, FDA now requires RIDTs to achieve 80% sensitivity in influenza diagnostic procedures. The use of RIDTs in various end-user such as hospitals & diagnostic laboratories, research institutes, among others owing to its faster results, cost-effectiveness, and use in point-of-care methods is expected to increase its demand, which further drive the growth of the market.

Regional Outlook 

Geographically, the global influenza diagnostic market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, the Asia-Pacific region is expected to hold considerable market growth during the forecast period. The rising burden of influenza in the region is expected to create huge demands for effective and diagnostic solutions. 

Global Influenza Diagnostic Market Growth, by Region 2021-2027

North America Dominates the Influenza diagnostic Market

Geographically, North America is projected to hold the largest share in the global influenza diagnostic market in 2020, and it is anticipated to grow at significant CAGR during the forecast period. The regional growth is augmented by the increase in the prevalence of influenza and the adoption of influenza screening test by various end-users. Besides, the easy availability of RIDTs in the region especially in the US is propelling the market growth. The presence of key market players such as Quidel Corp, Thermo Fisher Scientific Inc., Abbott Laboratories, Inc, Hologic Inc. is also contributing to the regional growth. These market players significantly investing in R&D activities and introducing cost-effective influenza diagnostic kits. For instance, in Feb 2021, Thermo Fisher Scientific, had launched CE-IVD-Marked, applied biosystems TaqPath COVID–19 RT-PCR Kit.

Market Players Outlook

The key players in the influenza diagnostics market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market are F. Hoffmann-La Roche Ltd, Quidel Corp., Thermo Fisher Scientific Inc, Abbott Laboratories, Luminex Corp., Becton, Dickinson and Co., among Others. These market players adopt different marketing strategies such as mergers & acquisitions, R&D, product launches, and geographical expansions to generate more revenue and to remain competitive in the market. For instance, in January 2021, Thermo Fisher Scientific acquired Mesa Biotech, a point-of-care molecular diagnostics firm for $550 million. The acquisition includes the point-of-care platform of Mesa Biotech for infectious disease diagnostics, including tests for SARS-CoV-2, influenza A and B, respiratory syncytial virus, and strep A. Besides, in May 2020, Becton Dickinson acquired NAT Diagnostics, a molecular diagnostics firm focused on rapid point-of-care testing. The acquisition supported Becton Dickinson to further expand its product offerings in decentralized molecular testing options.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global influenza diagnostic market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.