(PharmaNewsWire.Com, February 09, 2021 ) The global influenza diagnostic market is projected to reach USD 1,012 million in 2025 from USD 695 million in 2020, at a CAGR of 7.8% during the forecast period.
Market growth is largely driven by factors such as the increasing prevalence of influenza, growth in research funding for influenza diagnostics, and the rising demand for faster diagnosis are the major factors that are expected to drive the growth of this market in the coming years. However, variability in sensitivity and specificity among influenza diagnostic tests, the presence of a complex regulatory framework for the approval of new diagnostic tests, and rising healthcare costs are expected to restrain the growth of this market to a certain extent in the coming years.
By test type, the RIDT segment accounted for the largest share for traditional diagnostic tests of the influenza diagnostic market.
Based on the test type, the influenza diagnostics market is segmented into traditional diagnostic tests and molecular diagnostic tests. The RIDT segment accounted for the largest share of the influenza diagnostics market for traditional diagnostic tests of the influenza diagnostic market in 2019. The large share of this segment can be attributed to increased adoption of cost-effective and faster RIDT as a first line of diagnosis and screening process have been raised among the end-users. This is a major factor responsible for the largest share of this segment.
The hospital segment accounted for the largest share of the global influenza diagnostics market in 2019.
Based on end-user, the global influenza diagnostic market is divided into hospitals, clinical laboratories, and other end users. The hospitals segment accounted for the largest share of the influenza diagnostic market in 2019 as the influenza disease diagnostics is commonly carried out in hospitals, as it is complex in nature and requires technologically advanced products.
North America accounted for the largest share of the market in 2019.
In 2019, North America accounted for the largest share of the global influenza diagnostic market, followed by Europe. Factors such as the increasing prevalence of influenza and an increasing number of influenza screening tests performed in this region are driving the growth of the North American market during the forecast period.
Key Players of Market: The major companies in the global influenza diagnostics market include Hoffmann-La Roche AG (Switzerland), Quidel Corporation (US), Thermo Fisher Scientific Inc. (US), Abbott Laboratories, Inc. (US) and Hologic Inc. (US).
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