Dynamic Digital Transformation to drive the Rapid Influenza Diagnostic Tests Market at a CAGR of 3.8%

The global Rapid Influenza Diagnostic Tests Market is categorized into different types of products that are destined to conduct different applications across various industries. Some of the common sectors that are implementing these products into their business processes include automobile, healthcare, construction, electrical, and other such select sectors. These businesses have understood the efficacy of the products listed under the global Rapid Influenza Diagnostic Tests Market. Therefore, demand rates have increased to astonishing heights. Along with the demands, the supply chain has also evolved. The key players are putting in collective effort to make sure that the manufacturing infrastructure thrives. With increased production, the demand requests can also be met on priority without running out of stock.

rapid influenza diagnostic instruments is expected to top US$ 2 Bn by 2031, while expanding at a CAGR of 8.7%.Increasing adoption of rapid influenza testing kits, growing awareness for early detection using specific diagnostic tests, development of CLIA-waived POC molecular influenza tests, and shifting focus from centralized laboratories to decentralized point-of-care are some of the key trends being witnessed in this marketplace.

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Influenza is recognized as a major source of illness and mortality in humans, prompting the development and implementation of diagnostics aimed at decreasing the health and economic consequences. Influenza causes serious illness or death, primarily in high-risk people.

With the start of the flu season comes an increase in antibiotic use, elevating the danger of antibiotic resistance in the body. The speedy turn-around times of devices used at point-of-care aid in the preparation of a targeted and successful treatment plan based on test results. Rapid influenza diagnostic tests have a short turnaround time, with some offering results in under 15 minutes. As a result, adoption of rapid influenza diagnostic tests helps prevent over-prescription of antibiotics as well as avoid the core cause of bacterial resistance and its negative consequences.

The current COVID-19 pandemic has also boosted demand for rapid influenza diagnostic tests. When compared to influenza, COVID-19 has a similar illness presentation - both viruses induce respiratory problems. Furthermore, both are spread via touch, droplets, and fomites. COVID-19 patients have been misdiagnosed with influenza in the past, which has increased demand for virus rapid detection kits.

Emergence of smartphone-based disease screening has increased market revenue. The Human Genome Project and breakthroughs in molecular and biomedical technology have led to the creation of a plethora of assays and technologies useful for the diagnosis and monitoring of influenza infections. These new technologies, which are based on genomic (PCR-based) and proteomic (microarray-based detection) techniques, aid in the discovery of novel influenza viruses. They also allow for improved surveillance and rapid detection of infectious diseases, which presents a good business opportunity for market players.

Company Profiles:

Thermo Fisher Scientific, Hologic, Quidel Corporation, F. Hoffmann-La Roche AG, Abbott Laboratories, Becton Dickinson and Company, Danaher Corporation, Meridian Bioscience, bioMérieux SA, Luminex Corporation, Siemens Healthineers AG, GenMark Diagnostics, Sekisui Diagnostics, LLC altona Diagnostics GmbH, SA Scientific, ELITech Group and more

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Key Takeaways from Market Study

By principle, immunochromatographic assays are set hold high share of 66.8% in 2021, expanding at 6.1% CAGR over the forecast period.

By test type, influenza A+B test is expected to hold 79% market share, and is expected to continue growing at similar trend due to its benefits such as simple to use and rapid diagnosis.

By sample, the nasopharyngeal swab segment is expected to 31% market share, and nasopharyngeal aspirate is the second-leading segment, which accounts for 27.5%.

By end user, office-based settings account for nearly 22.5% market share.

By region, North America held 36.6% of the global market share in 2021.

"Rising demand for rapid disease diagnosis, increasing influenza prevalence, and increased research for diagnostic technologies are expected to provide growth opportunities for market players," says an analyst of Persistence Market Research.

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Rapid Influenza Diagnostic Tests Market - Report Highlights

A detailed overview of parent market of Rapid Influenza Diagnostic Tests Market
Changing Rapid Influenza Diagnostic Tests Market dynamics in the industry
In-depth segmentation of the Rapid Influenza Diagnostic Tests Market
Historical, current, and projected Rapid Influenza Diagnostic Tests Market size regarding volume and value
Recent industry trends and developments in Rapid Influenza Diagnostic Tests Market
Competitive landscape of the Rapid Influenza Diagnostic Tests Market
Strategies for key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Rapid Influenza Diagnostic Tests Market performance
Must-have information for Rapid Influenza Diagnostic Tests Market players to sustain and enhance their market footprint

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