Rapid Influenza Diagnostic Tests Market To Record Highest Growth Owing To Rising Awareness About Early Disease Diagnosis

Market Overview:

Rapid influenza diagnostic tests (RIDTs) are medical devices used to detect influenza viruses in respiratory specimens. They provide quick results within 15-30 minutes. RIDTs detect the presence or absence of influenza viral nucleoprotein antigens present in respiratory secretions of patients. They are primarily used at doctors' offices and clinics to provide a quick diagnosis during patient visits, allowing timely administration of antiviral treatment to curb further spread of infection. Their ease of use and rapid result turnaround make them very useful diagnostic tools in primary care settings. RIDTs allow timely treatment decisions and help prevent unnecessary use of antibiotics.

The Global Rapid Influenza Diagnostic Tests Market Size Is Estimated To Be Valued At US$ 1.29 Bn In 2024 And Is Expected To Exhibit A CAGR Of 7.9% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the global rapid influenza diagnostic tests market are Quidel Corporation, Becton Dickinson, Thermo Fisher Scientific, Abbott Laboratories, F. Hoffmann-La Roche, Diasorin, Luminex Corporation, Meridian Bioscience, Genmark Diagnostics, Sekisui Diagnostics, And Virax Biolabs.

Rising prevalence of influenza infections worldwide coupled with growing awareness about early disease diagnosis is driving the demand for rapid influenza diagnostic tests. According to CDC estimates, influenza causes mild to severe illness in around 9-45 million people annually in the US alone.

Advancements in RIDT technologies such as development of fully automated random-access analyzers have improved testing accuracy and throughput. Introduction of multiplex testing solutions that can simultaneously detect influenza A and B viruses as well as Respiratory Syncytial Virus (RSV) is strengthening the market.

Market Trends

Increasing Testing Capabilities - Vendors are focused on developing novel RIDTs that can simultaneously detect and differentiate between multiple types and strains of influenza viruses. This is driving the demand for panel/multiplex tests.

Point-Of-Care Testing - The trend of shifting diagnostic services from the central laboratory to the point of care is favoring the demand for POC RIDTs. Portable, easy-to-use and rapid testing solutions are gaining popularity for use in alternate care sites.

Market Opportunities

Emerging Economies - Expanding healthcare infrastructure, burgeoning medical tourism industry and rising disposable incomes in developing Asian, African and Latin American countries offer lucrative opportunities.

Newer Applications - RIDTs hold potential for applications beyond clinical diagnostics such as influenza surveillance programs run by public health agencies and testing at airports & schools.

Impact Of COVID-19 On Global Rapid Influenza Diagnostic Tests Market Growth

The COVID-19 pandemic has significantly impacted the growth of the global rapid influenza diagnostic tests market. During the start of the pandemic, there was high demand for influenza testing kits to differentiate between COVID-19 and influenza as symptoms of both diseases overlap. However, the focus soon shifted completely to COVID-19 diagnostics owing to its fast spreading nature and high mortality rate. This led to short term decline in influenza testing volumes globally. Companies manufacturing influenza test kits also faced disruptions in their supply chains and production facilities due to lockdowns and restrictions imposed to curb the spread of coronavirus. Healthcare resources and funding were also diverted to focus more on SARS-CoV-2 testing and treatment.

However, as the threat of influenza continues during the pandemic, demand for rapid testing is expected to regain momentum. Manufacturers are launching multiplex testing platforms that can detect and differentiate SARS-CoV-2, influenza A & B with just one sample. This is anticipated to drive the adoption of rapid influenza diagnostic tests going forward. Government and private organizations are also placing increased emphasis on influenza surveillance alongside COVID-19 to monitor co-circulation of viruses. Initiatives like this would aid market recovery in the long run. New product innovations, focus on automated platforms and point-of-care testing are some of the key strategies manufacturers are likely to adopt to tap growth opportunities emerging in this space post pandemic.

Europe currently holds the largest share of global rapid influenza diagnostic tests market in terms of value.

The high influenza disease burden, strong healthcare infrastructure and favorable reimbursement policies have ensured early adoption of innovative diagnostic solutions in countries like Germany, UK, France etc. Rising elderly population prone to influenza complications also drives market growth. However, with growing penetration of health insurance and emergence of several domestic players, the Asia Pacific region is projected to witness the fastest CAGR during the forecast period. Countries like China, India, South Korea and Japan are expected to significantly contribute to the regional market growth attributable to their large population base and improving access to healthcare.

What are the key data covered in this Global Rapid Influenza Diagnostic Tests Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Rapid Influenza Diagnostic Tests Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Rapid Influenza Diagnostic Tests  Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Global Rapid Influenza Diagnostic Tests  Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Rapid Influenza Diagnostic Tests  Market vendors

FAQ’s

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