Influenza Diagnostic Tests Market Segmentation by Region

Posted by anna on March 16, 2022

The influenza diagnostic tests market is segmented by geography into four major regions: North America, Europe, Asia Pacific, and the rest of the world. The largest market is in North America, where the incidence of respiratory diseases is rising, which is driving the demand for diagnostic products. While Europe and Asia Pacific are smaller markets, they are expected to experience the fastest growth during the forecast period. However, the growth of the Asia Pacific market is predicted to be higher than the other regions, primarily because of the rapidly increasing population in this region. The growing number of people in this region are a cause of contagious diseases, which are resulting in the increase of demand for flu-related products.

The rapid influenza diagnostic tests market is segmented by region, with North America being the largest market by revenue. The European region is further subdivided into France, Germany, Italy, and the rest of Europe. The Asia Pacific region is further subdivided into Japan, South Korea, and South East Asia. The Middle East and Africa region is further split into the GCC and South Africa. The U.S. is the fastest-growing regional market, despite of the fact that influenza-related infections are increasing across the globe.

Several companies are developing innovative diagnostics for the influenza virus. Roche, for example, announced that its cobas(r) SARS-CoV-2 and influenza A/B test would be approved by the FDA in September 2020, and will be used on cobas(r) 6800 and 8800 systems. In the near future, this technology will be available at more locations. This will spur more innovation in the influenza diagnostic tests market.

The global influenza diagnostic tests market is predicted to reach USD 933 million by 2025, at a CAGR of 7.2%. According to the Center for Disease Control and Prevention, the number of cases of influenza is expected to rise by more than 49 million. Hence, a better diagnostic and treatment will lead to an increased demand. While strict regulations may act as a restraint, there is a significant potential for growth. For instance, in the U.S., the RIDT for influenza A held a substantial revenue size of USD 352.5 million in 2018.

The influenza diagnostic tests market in pediatrics was valued at USD 220.2 million in 2018. Increasing prevalence of influenza among children will spur the market's growth in the near future. In the U.S., the prevalence of influenza in young children is at an all-time high. The development of affordable diagnostics will further boost the industry. While a growing number of countries have developed advanced technology in the field, the ability to quickly detect the virus is key to a positive outcome.

Several companies in the influenza diagnostics market have launched new products to make this disease easier to detect. In North America, Becton Dickinson and Company are the leading player in this market. In Europe, Roche Diagnostics is the second-largest market, with a significant share. Besides, Alere Scarborough, Inc., Meridian Bioscience, Inc., and Thermo Fisher Scientific are among the leading manufacturers in this segment.

The influenza diagnostic tests market is primarily driven by a variety of factors. RIDTs are readily available in many parts of the world and can be used at any time. The shortest turnaround time, ease of use, and low cost of the test make it popular in emerging and developed regions. Nonetheless, the market is dominated by North America. This region is the most important for the influenza diagnostics market. In addition to these factors, there are several other factors that drive growth in the market.

The influenza diagnostics market is largely driven by the rising influenza prevalence. Regulatory initiatives and favourable reimbursement conditions are driving growth in this region. Regulatory guidelines are promoting the use of rapid and convenient testing. Increasing flu-specific incidences are the main reasons for the fast adoption of these tests. The availability of a rapid and accurate diagnosis in a short time will benefit healthcare professionals. The technology behind these tests will help them make decisions about preventing and treating the disease.

The influenza diagnostic tests market is dominated by the U.S. and Europe. The North American region is further divided into the U.S. and the EU, with the European region comprising France, Germany, and the rest of the continent. The Asia Pacific market is segmented by country, including South Korea and South East Asia. The global influenza diagnostic tests market is expected to recover once lockdowns are lifted. The North America and Europe market is expected to grow by 7.6% over the forecast period.

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