Influenza Diagnostics Market Predicted to Hit US$ 1,461.7 Million by 2028

How Big Is The Influenza Diagnostics Market?

The global influenza diagnostics market size reached US$ 893.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,461.7 Million by 2028, exhibiting a growth rate (CAGR) of 6.55% during 2023-2028.

What is Influenza Diagnostics?

Influenza diagnostics refers to crucial tools and techniques used to detect and identify influenza viruses quickly and accurately. It comprises a range of methods, such as molecular tests, rapid antigen tests, viral culture, and serological assays. It differentiates influenza from other respiratory illnesses, such as the common cold or respiratory syncytial virus (RSV), and aids in prompt medical intervention. It plays a crucial role in the early detection and diagnosis of influenza infections. It allows healthcare professionals to monitor the prevalence of different influenza strains, track their evolution, and assess vaccine effectiveness. It detects the genetic material of the influenza virus and provides precise results within a short period of time. It assists in monitoring and managing influenza viruses among people while minimizing their spread. Besides this, it is beneficial in detecting specific viral proteins on the surface of the influenza virus. As it aids in enabling the development of effective vaccination strategies, the demand for influenza diagnostics is increasing across the globe.

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What Are The Growth Prospects And Trends In The Influenza Diagnostics Industry?

Presently, the rising utilization of influenza diagnostics among the geriatric population, as they are more prone to influenza, represents one of the major factors influencing the market positively. Moreover, governing agencies of various countries are promoting influenza vaccination and diagnosis as preventive measures against outbreaks. They are also organizing campaigns to generate awareness about the treatment options available for the influenza virus, which is strengthening the growth of the market. Apart from this, the growing demand for influenza diagnostics on account of the increasing prevalence of chronic diseases, such as diabetes, cardiovascular disorders, and respiratory conditions, that weaken the immune system and make individuals more susceptible to severe flu infections is offering a positive market outlook. Additionally, the rising adoption of influenza diagnostics, as it helps in early disease detection that reduces healthcare costs associated with influenza-related hospitalizations and complications and minimizes the economic burden of missed workdays and decreased productivity during flu seasons, is impelling the market growth. In line with this, the wide availability of point-of-care (POC) influenza diagnostic tests in healthcare settings is providing lucrative growth opportunities to industry investors. Besides this, the integration of artificial intelligence (AI) in influenza diagnostic tools assists in offering more precise and tailored diagnostic insights, which is bolstering the growth of the market. In addition, there is an increase in the need for rapid and accurate diagnosis among patients. This, coupled with the rising awareness about the severity of influenza among people, is propelling the market growth. Furthermore, advancements in diagnostic technologies, such as polymerase chain reaction (PCR)-based assays and rapid antigen tests, enhance the accuracy and speed of influenza diagnosis, which is contributing to the market growth. The increasing development of eco-friendly and low volatile organic compounds (VOCs) influenza diagnostic solutions is also supporting the market growth.

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What Is Included In Market Segmentation?

The report has segmented the market into the following categories:

Breakup by Product:
• Test Kit and Reagents
• Instruments
• Others

Breakup by Test Type:
• Molecular Diagnostic Tests
o Polymerase Chain Reaction
o Isothermal Nucleic Acid Amplification Tests
o Other Molecular Tests
• Traditional Diagnostic Tests
o Rapid Influenza Diagnostic Tests
o Viral Culture Tests
o Direct Fluorescent Antibody Test
o Serological Tests

Breakup by Type of Flu:
• Type A Flu
• Type B Flu
• Type C Flu

Breakup by End User:
• Hospitals
• Diagnostic Laboratories
• Others

Diagnostic Centres Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who Are The Key Players Operating In The Industry?

The report covers the major market players including:
• Abbott Laboratories
• Becton Dickinson and Company
• Coris Bioconcept
• Danaher Corporation
• DiaSorin S.p.A.
• Hoffmann-La Roche Ltd (Roche Holding AG)
• Hologic Inc.
• Meridian Bioscience Inc.
• Qiagen N.V, Quidel Corporation
• Sekisui Diagnostics LLC (Sekisui Medical Co. Ltd.)
• and Siemens Healthineers AG (Siemens AG)

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This release was published on openPR.