The rapid influenza diagnostic tests market is expected to grow at a CAGR of 9.6% during the forecast period. According to a recent report published by Technavio, the U.S. dominated the global market in 2017. Growth will be primarily driven by the growing number of patients and increasing government initiatives. Moreover, growing awareness among consumers about the importance of fast and accurate influenza testing will drive the market in the coming years.
The rapid influenza diagnostic tests market in India is estimated to grow at 8.8% CAGR during the forecast period, owing to the increase in cases of infection caused by avian influenza A, rising awareness among consumers, and recent growth in R&D in the country. According to a recent report published by the National Center for Disease Control, seasonal influenza infections in India reached 6,700 during the first quarter of 2019. In addition, 226 people have died from the disease. Thus, the market for rapid influenza diagnostics is expected to grow at a significant CAGR during the forecast period.
The global rapid influenza diagnostics market is segmented by type, application, and region. The report includes a detailed analysis of the competitive landscape in the industry. It highlights the leading companies in the industry, their products and services, and their geographic reach. Further, it covers the major players in the market, including their product portfolios and their regional presence. The report also looks at the challenges faced by these companies and their customers.
The rapid influenza diagnostic tests market is split into three segments - research laboratories and diagnostic centers. Hospitals represent the most profitable segment in the industry, owing to their highly developed infrastructure and trained healthcare professionals. This segment is expected to grow at a CAGR of 6.8% over the forecast period. The growth of the hospital segment is largely attributed to the high number of people affected by the disease. Besides, the benefits of these tests include quick and reliable results.
The rapid influenza diagnostic tests market is segmented by type, end-user, distribution channel, and geography. The report is grouped into different segments based on the types of tests. By test type, the market is categorized into real-time polymerase chain reaction (PCR) assays, real-time RNA-based assays, and viral-specific assays. The reports highlight the advantages and disadvantages of the various rapid influenza diagnostic tests and their applications.
The rapid influenza diagnostic tests market is dominated by hospitals. The CDR and CDC publish data on the use of RIDT in hospitals. The market for these diagnostic tests is expected to be USD xx billion by 2027. However, despite its booming popularity, there are some challenges. While the CDC reported that there are more than 186 pediatric deaths worldwide each year, the NIH estimates that approximately 8,000 children will be hospitalized due to the influenza this year.
The global influenza diagnostics market is segmented into four regions - North America, Europe, Asia Pacific and Middle East and Africa. In North America, the market held the highest share in 2012, owing to the rising disease burden and the increasing prevalence of the disease. The Asia Pacific region is expected to show the highest growth, as a result of higher rate of population and government initiatives to reduce the number of cases. In South-East Asia, the CDC has funded bilateral agreements aimed at the routine diagnosis of seasonal flu.
North America accounted for the largest share in the influenza diagnostics market in 2015. The U.S. government is actively implementing preventive measures and recognizing influenza through the National Influenza Surveillance System. Rapid Diagnostic Tests have also boosted surveillance of the disease in the U.S. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The United States is the largest influenza-endemic region globally, and the U.S. is the leading market for the diagnostics.
The major players in the influenza diagnostics market include Alere Scarborough, Inc., Becton Dickinson and Company, DiaSorin SpA, F. Hoffmann-La Roche AG, Meridian Bioscience Inc., Quidel Corporation, Sekisui Diagnostics, and Teva Pharmaceuticals. However, there are many small companies offering high-quality products in this market. For example, Alere i can diagnose influenza types A and B in just 15 minutes.
Amongst the major companies, Hoffmann-La Roche AG, Becton-Dickinson and Company, Alere Inc., Diasorin S.P.A., and Meridian Bioscience, Inc., have the highest market shares in the influenza diagnostics market. The report highlights the key factors driving growth in each of these regions. There are also some interesting trends that are emerging in the rapid influenza diagnostics market.
Roche Diagnostics, Becton-Dickinson and Company, and Alere Inc. are the major players in the global influenza diagnostics market. These companies have a significant presence in the market and have been able to make significant investments in R&D and production. The global influenza diagnostics market is highly fragmented, but the key players in the industry are primarily concentrated in North America. The companies that are present in the region have strong marketing budgets and strong sales forces.
Influenza diagnostics market is segmented into four geographical regions - North America, Europe, and Asia Pacific. The European region holds the largest market share, followed by the North American region. The Asia Pacific region is expected to witness the fastest growth during the forecast period (2020-2026). The study has detailed data on the competitive landscape in each of these regions. The regional breakdown is done based on the type of influenza. For example, Alere i is a rapid test that can diagnose both types of influenza.
The global influenza diagnostics market is segmented by test type. There are three major test types: point-of-care testing (POCT) and laboratory-based testing. The point-of-care testing segment is the most popular type of influenza tests. By 2023, a rapid diagnostic test can give an accurate result in 15-30 minutes. In addition, the rapid flu and strep A tests are the most widely used for diagnosis of the disease, which are growing at a steady pace.