The report "Influenza Diagnostics Market is poised for significant growth, with a projected value of USD 1.1 billion by 2026, compared to USD 0.8 billion in 2021. This forecasted expansion reflects a compelling Compound Annual Growth Rate (CAGR) of 7.7%. Several key factors contribute to this market's growth, including the escalating demand for swift disease diagnosis, the increasing prevalence of influenza, and advancements in diagnostic technologies for influenza research. Notably, emerging economies like India and Japan present enticing prospects for businesses operating within the influenza diagnostics sector.

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Browse in-depth TOC on "Influenza Diagnostics Market”

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Key Elements:

1. Product Range: The influenza diagnostics market encompasses an array of products, including test kits and instruments. These tools play a pivotal role in accurate disease diagnosis.
2. Diverse Testing Methods: Influenza diagnostics employ various testing methods. Traditional approaches such as Rapid Influenza Diagnostic Tests (RIDT), viral culture, and serological tests coexist with modern molecular techniques like Polymerase Chain Reaction (PCR), Isothermal Nucleic Acid Amplification Technology (INAAT), and Transcription-Mediated Amplification-Based Assays (TMABAS).
3. Targeted End Users: The market caters to a range of end users, including diagnostic laboratories, hospitals, and clinics. These facilities rely on advanced influenza diagnostic tools to enhance patient care and effectively combat the spread of the virus.
4. Global Reach: The influenza diagnostics market extends across regions, offering global opportunities for innovation and collaboration in the field of disease diagnosis.

Key Players:

Prominent companies in the influenza diagnostics market include 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), altona Diagnostics GmbH (Germany), SEKISUI Diagnostics (US), SA Scientific Ltd. (US), Coris BioConcept SPRL (Belgium), ELITech Group (France), Mast Group Ltd. (UK), Genome Diagnostics, Pvt. Ltd. (India), Germaine Laboratories, Inc. (US), Response Biomedical Corp. (Canada). Tauns Laboratories, Inc. (Japan) and 3B BlackBio Biotech India Ltd. (India)

Factors Driving Growth:

1. Escalating Prevalence of Influenza: Influenza continues to pose a significant public health concern globally, with a rising number of cases reported each year. As a result, the demand for reliable and accurate influenza diagnostics has surged, driving the growth of the market.
2. Advancements in Influenza Research: The relentless efforts in influenza research have led to the development of cutting-edge diagnostic technologies. This continuous exploration has significantly enhanced the accuracy and efficiency of influenza diagnosis, attracting greater adoption in the healthcare sector.
3. Surging Demand for Rapid Disease Diagnosis: In the fast-paced world, timely diagnosis is critical for effective disease management. The rising demand for swift and accurate diagnosis of influenza has spurred the adoption of advanced influenza diagnostic tools, boosting market growth.

Challenges Ahead:

1. Variability in Test Sensitivity and Specificity: Ensuring consistent test sensitivity and specificity remains a challenge in the influenza diagnostics market. Manufacturers are striving to develop more reliable testing methods to address this concern and enhance overall diagnostic accuracy.
2. Rising Healthcare Costs: The economic burden associated with healthcare has been rising, affecting the affordability of diagnostic tests for influenza. However, ongoing efforts to streamline healthcare costs and government initiatives may aid in mitigating this challenge over time.

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The test kits and reagents segment accounted for the largest share of the influenza diagnostics market, by product segment, in 2020

Based on product and service, the influenza diagnostics market is segmented into test kits and reagents, instruments and other products. The test kits and reagents segment accounted for the largest share of the influenza diagnostics market in 2020. Factors such as growth in influenza research for diagnostic technologies and increasing prevalence of influenza are contributing for the growth of this market.

Molecular Diagnostic Tests segment to register the highest growth rate during the forecast period

The influenza diagnostics market is segmented into traditional diagnostic test (rapid influenza diagnostic tests, viral culture tests, direct fluorescent antibody test, serological tests) and molecular diagnostic tests (polymerase chain reaction, isothermal nucleic acid amplification tests(transcription-mediated amplification-based assay, loop-mediated isothermal amplification-based assay, nucleic acid sequence-based amplification tests, other isothermal nucleic acid amplification tests) and other molecular diagnostic tests. In 2020, the molecular diagnostic tests segment accounted for the highest growth rate. Factors such as the rising demand for rapid disease diagnosis drive this market and growth in influenza research for diagnostic technologies.

The diagnostic laboratories segment accounted for the largest share of the influenza diagnostics market, by end user segment, in 2020

Based on end user, the influenza diagnostics market has been segmented into diagnostic laboratories, hospitals and clinics and other end users. In 2020, the diagnostic laboratories segment accounted for the largest share of the influenza diagnostics market. Increasing prevalence of influenza and rising demand for rapid disease diagnosis is driving this segments growth.

North America is the largest regional market for influenza diagnostics market

The global influenza diagnostics market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the influenza diagnostics market. The large share of this region can be attributed to growth in influenza research for diagnostic technologies and rising demand for rapid disease diagnosis.

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Recent Developments:

• In May 2021 Becton, Dickinson and Company (US) received FDA approval for the BD Veritor Plus System, which is used to detect SARS-CoV-2, influenza A, and influenza B.

• In March 2021, Abbott Laboratories, Inc. (US) received emergency use authorization (EUA) from the FDA for a laboratory PCR assay that detects and differentiates SARS-COV-2, flu A, flu B, and RSV in one test.

• In February 2021, Becton, Dickinson and Company (US) received approval from the FDA for the emergency use authorization (EUA) for a new molecular diagnostic test for both SARS-CoV-2 and influenza A+B.

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