Influenza Diagnostics Market is Trending with CAGR of 8% by 2023, Key Players- 3M, ABBOTT, BECTON, DICKINSON AND COMPANY, DIASORIN S.P.A., F. HOFFMANN-LA ROCHE AG, LUMINEX CORPORATION, MERIDIAN BIOSCIENCE

The influenza diagnostics market is expected to register a growth rate of nearly 8.0% during the forecast period, 2018 to 2023. The market for the infectious disease of the upper respiratory system caused by the influenza virus is expected to register steady growth driven by rising prevalence of influenza diseases and associated chronic diseases with the rise in technological advancements in the influenza diagnosis. The rising awareness of early diagnosis and well-developed healthcare infrastructure and higher adoption of advanced diagnostic technologies helps North America to dominate the share in this market.

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Growing Prevalence of Influenza and Associated Chronic Diseases
The growing prevalence of influenza and associated chronic diseases primarily drives the influenza diagnostics market. According to World Health Organization (WHO), the annual epidemics are estimated to be around 3 to 5 million cases of severe illness and about 0.20-0.65 million respiratory-related deaths. In the industrialized countries influenza is primarily associated with the older population above 65-year-old and in developing countries, it is majorly infected in children below 5-year-old lower respiratory tract infections. In several studies, it has been found that Rapid Influenza Diagnostic Tests (RIDT) is considered to be one of the most effective assays with better performance among children as compared to adults. Thus, increasing prevalence plays a major role in increasing demand of influenza diagnostics.
Other factors driving this market are growth in research funding for new better influenza diagnostics, rising demand for early diagnostics and control of influenza and emergence of technologically advanced influenza diagnostic tests.

Key Developments in the Market
March, 2018 - Sekisui Diagnostics launched the Silaris Influenza A and B test developed in collaboration with Mesa Biotech.

Major players:
3M, ABBOTT, BECTON, DICKINSON AND COMPANY, DIASORIN S.P.A., F. HOFFMANN-LA ROCHE AG, LUMINEX CORPORATION, MERIDIAN BIOSCIENCE, INC, QUIDEL CORPORATION, SEKISUI DIAGNOSTICS, AND THERMO FISHER SCIENTIFIC INC, amongst others.

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Variability in Sensitivity and Specificity Among Influenza Diagnostic Tests
The variability in sensitivity and specificity among the influenza diagnostic tests is among the primary reasons restricting the growth of this market. In most rapid flu tests, there are difficulties in reliably identifying the patients with influenza. The sensitivity ranges are highly variable between 10-90% across various patient populations. With that, as the influenza season at its peak, most diagnostic tests show an increase in the rate of false negative results, which often leads to misdiagnosing. Thus, this hinders the growth of this market.
Other factors limiting the growth of this market are product safety and the high cost of development with stringent government regulations.

Asia Pacific to Witness the Fastest Growth Rate
Asia Pacific is expected to dominate the fastest growth rate in the forecast period. The healthy CAGR is expected due to rising healthcare expenditure in countries, such as India, China, and Japan. This is accompanied by increasing affordability and subsidized immunization for elderly in Australia, Japan, and South Korea. The developing countries have increased incidence of seasonal influenza particularly in South Asian countries often linked to increasing geriatric population, changing dietary habits, and high consumption preserved food.

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