Global Rapid Influenza Diagnostics Market By Type of Disease (Influenza A and B), Test Type (STANDARD F Influenza A/B Fluorescence Immunoassay (STANDARD F), Sofia Influenza A + B Fluorescence Immunoassay (Sofia), Immunochromatographic Assay, Real-Time Polymerase Chain Reaction (RT-PCR), Others), End User (Hospitals & Clinics, Laboratories, and Other), Distribution Channel (Direct, Retail), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Rapid Influenza Diagnostics Market
Global rapid influenza diagnostics market is expected to rise with a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rising number of geriatric population.
Market Definition: Global Rapid Influenza Diagnostics Market
Rapid influenza diagnostic tests (RIDTs) are type of immunoassays which identifies the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens. The RIDTs have received attention as it offers advantages over the other methods, for instance rapid result in less than approximately 15 minutes, high specificity and easy performance. According to Centers for Disease Control and Prevention 2017 estimation, every year approximately 291,000 and 646,000 people die from seasonal influenza-related respiratory illness globally.
- Rising government initiatives is expected to drive the growth of the market
- Enhancing geriatric population also acts as a major driver for this market growth
- Advanced technological diagnostic tests is also augmenting the market growth
- Increasing investments in detection and control of influenza is also expected to boost the growth of the market
- High prices of reagents and kits hampers the market growth
- Negative results of RIDTs for a tubeless insulin pump also acts as a restricting factor for this market growth
- Inconsistency in sensitivity and specificity of diagnostic tests; restricts the growth of the market
- Unstable regulatory framework for approval of new diagnostic tests acts as a major market restraint
Segmentation: Global Rapid Influenza Diagnostics Market
By Type of Disease
- Influenza A
- Influenza B
By Test Type
- STANDARD F Influenza A/B Fluorescence Immunoassay (STANDARD F)
- Sofia Influenza A + B Fluorescence Immunoassay (Sofia)
- Immunochromatographic Assay
- Real-Time Polymerase Chain Reaction (RT-PCR)
By End User
- Hospitals & Clinics
By Distribution Channel
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In February 2019, Abbott launched BinaxNOW Influenza A & B Card 2, a rapid influenza diagnostic test (RIDT). This reformulated test already received waived status from Clinical Laboratory Improvements Amendments (CLIA) by the U.S. Food and Drug Administration (FDA) for use with Abbott's DIGIVAL diagnostic reader which is specifically designed for the rapid detection of influenza virus. With this product launch the company will establish a footprint in the rapid influenza diagnostic market
- In August 2018, Boryung BioPharm launched rapid diagnostic kit for the flu, and named it “Flu Fast.” This device collects specimens from patients who has influenza symptoms and detects influenza types A and B by using the immunochromatography method. This product launch will help in the expansion of the company’s product portfolio
Global rapid influenza diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of rapid influenza diagnostics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global rapid influenza diagnostics market are Abbott, BD, Quidel Corporation., Princeton BioMeditech Corporation, Thermo Fisher Scientific, F. Hoffmann-La Roche Ltd, DiaSorin S.p.A., SA Scientific, Meridian Bioscience, Inc., Analytik Jena AG (Endress+Hauser Management AG), Luminex Corporation, Boryung Co.,Ltd. among others.
Research Methodology: Global Rapid Influenza Diagnostics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved