Global Rapid Influenza Diagnostic Tests Market is Anticipated to Witness High Growth Owing to Rising Cases of Influenza

Global Rapid Influenza Diagnostic Tests Market is Anticipated to Witness High Growth Owing to Rising Cases of Influenza

The global rapid influenza diagnostic tests market has been witnessing significant growth in recent years on account of the rising prevalence of influenza across the world. Rapid influenza diagnostic tests help in quick detection of influenza infection without the need for laboratory tests. These tests provide results within 30 minutes helping doctors to treat patients efficiently. The growing awareness about the availability of rapid influenza tests is driving the demand for such tests globally.

The global rapid influenza diagnostic tests market is estimated to be valued at US$ 1.29 Billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.

Rapid Influenza Diagnostic Tests have benefitted patients suffering from influenza through early diagnosis and treatment. They have helped reduce unnecessary antibiotic usage and decrease medical costs. Rapid diagnostics provide quicker treatment options to patients and help curtail the spread of influenza.

Key Takeaways 

Key players operating in the global rapid influenza diagnostic tests market are Quidel Corporation, Becton Dickinson, Thermo Fisher Scientific, Abbott Laboratories, F. Hoffmann-La Roche, DiaSorin, Luminex Corporation, Meridian Bioscience, GenMark Diagnostics, Sekisui Diagnostics, and Virax Biolabs. These key players are focusing on new product launches and regulatory approvals to expand their market share.

The global rapid influenza diagnostic tests market presents several growth opportunities for market players. Rising awareness about infectious diseases and demand for point-of-care testing globally is expected to drive the demand for rapid influenza diagnostic tests. Additionally, increasing healthcare expenditure in developing countries will boost market growth over the forecast period.

Geographically, North America dominates the global rapid influenza diagnostic tests market owing to developed healthcare infrastructure and growing awareness. However, Asia Pacific is expected exhibit high growth during the forecast period due to rapidly developing healthcare systems and increasing disposable incomes in emerging economies like India and China. Key players are expanding their presence across Asia Pacific and other developing regions to leverage growth opportunities.

Market Drivers 

Growing prevalence of influenza - Rising incidence of influenza cases worldwide is a major factor driving the adoption of rapid influenza diagnostic tests for timely diagnosis and treatment. According to WHO, annual influenza epidemics are estimated to result in about 3-5 million cases of severe illness.

Increasing awareness - Greater awareness among patients and healthcare providers about available diagnostic options for influenza is propelling the uptake of rapid influenza diagnostic tests as they enable quick detection without laboratory tests and allow for timely clinical management.

Market Restraints

High pricing of tests - Rapid influenza diagnostic tests are costlier than conventional diagnostic methods like cell culture which may restrict their adoption in price sensitive markets. This can hamper market growth.

Requirement of specialized infrastructure - Rapid influenza diagnostic tests need specialized equipment and trained medical professionals for handling samples and operating diagnostics tools. This presents challenges related to deployment of rapid tests in resource limited settings.

Segment Analysis

Rapid Influenza Diagnostic Tests (RIDTs) can be categorized into Point-of-Care (POC) testing and Digital Immunoassay. POC testing, also called as Near Patient Testing, held the largest market share of around 60% globally. POC testing provides test results within 30 minutes, can be performed near patients without specialized training or equipment. This makes it ideal for physician offices, urgent care clinics and pharmacies. Digital Immunoassay is emerging as the fastest growing segment as it provides quantitative results with greater sensitivity and specificity. These tests are based on microfluidic-based lateral flow immunoassays and digital detection.

Regional Analysis

North America currently dominates the global rapid influenza diagnostic tests market and accounted for over 35% share in 2024. This is attributed to high awareness levels regarding influenza, influenza surveillance programs by governments and private organizations, widespread availability and adoption of advanced RIDTs. Asia Pacific is predicted to witness the highest CAGR during the forecast period. Rising healthcare expenditure, increasing focus on infectious disease control and growing elderly population vulnerable to influenza are driving the growth. Additionally, regional governments are investing in national infectious disease control programs.

What Are The Key Data Covered In This Global Rapid Influenza Diagnostic Tests Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Rapid Influenza Diagnostic Tests's growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Rapid Influenza Diagnostic Tests and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Rapid Influenza Diagnostic Tests Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Rapid Influenza Diagnostic Tests vendors

FAQ’s

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Author Bio:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)