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Influenza Diagnostics Market 2019: SWOT Analysis by Industry Size, Share, Business Strategies, Improvement, and Forecast till 2024

Influenza

Report Titled: “Influenza Diagnostics Market – Growth, Trends, and Forecast (2019 – 2024)

The Research Report on “Influenza Diagnostics Market” 2019 report includes every aspect of the Influenza Diagnostics industry along with the progress performance. Influenza Diagnostics Market report presents an analysis of market size, share, and growth, trends, and price structure, statistical and detailed data of the Influenza Diagnostics industry. Additionally, Influenza Diagnostics Market 2019 research report offers key analysis on the industry status of the Influenza Diagnostics producers with market size, growth, share, trends as well as business price structure.

The Influenza Diagnostics Market report is a professional and detailed study on the Influenza Diagnostics business. Influenza Diagnostics market to predict future market directions between the forecast periods from 2019 to 2024 providing you with vital data for your business decisions.

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Scope of the Report:

  • Influenza, also known as flu, is a highly contagious infectious disease caused by a virus. This is an infection of the respiratory passages, which causes fever and severe aches. The influenza diagnostic market includes the tests that are conducted for the diagnosis of influenza cases. As per the scope of this report, only the test kits and reagents that are being used for the diagnosis of influenza have been taken into account for the calculation of the total market size.

    Market Overview:

  • The global influenza diagnostics market was valued at USD 492.42 million in 2018, and is estimated to be valued at USD 731.97 million in 2024, witnessing a CAGR of 6.83%. Certain factors that are driving the market growth include increasing prevalence of influenza and related chronic diseases, growth in research funding for influenza diagnostics, and rising demand for early diagnosis and control of influenza.
  • Influenza is recognized as a crucial cause of morbidity and mortality in the human population, which is leading to the development and use of diagnostics that are intended for reducing consequent health and economic impacts. According to WHO, in 2018, influenza caused severe sickness or death mainly in patients at a high risk and illness range from mild to severe and even death. Also, this annual increase is projected to result in about 3-5 million cases of severe illness, and about 290,000-650,000 deaths, globally.
  • Various initiatives and research funding are bolstering the growth of the market. For instance, National Institute of Allergy and Infectious Disease (NIAID) has supported a broad portfolio of the influenza research, which includes studies that are informing the development of vaccines, diagnostics, and therapeutics against seasonal and pandemic influenza. Similarly, in 2018, a non-profit association between academic, government, and industry medical researchers, called Human Vaccine Project, launched the Universal Influenza Vaccine Initiative. Thus, growth in research funding by the government and companies for influenza diagnostics is driving the market.
  • However, it is critical to ensure that all the rapid antigen flu tests meet new FDA requirements for approval. Hence, the stringent FDA regulations act as significant restraints for the market.

    Influenza Diagnostics Report Also Covers Offer for New Project Includes:

    • Market Entry Strategies
    • Countermeasures of Economic Impact
    • Marketing Channels
    • Feasibility Studies of New Project Investment
    • Research Conclusions of the Influenza Diagnostics Industry

    The report provides key statistics on the market status of the Influenza Diagnostics Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Influenza Diagnostics.

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    Influenza Diagnostics Market Report Also Covers Marketing Strategy Analysis, Top Manufacturers:

  • Abbott
  • Becton, Dickinson and Company
  • Coris BioConcept
  • DiaSorin SpA
  • F. Hoffmann
  • La Roche Ltd
  • Luminex Corporation
  • Meridian Bioscience Inc.
  • Quidel Corporation
  • Sekisui Diagnostics
  • Thermo Fisher Scientific Inc.

    Key Market Trends:

    Rapid Influenza Diagnostic Test (RIDT) is Expected to hold its Highest Market Share in the Test Type Segment

    In the test type segment of the influenza diagnostics market, among all traditional diagnostic tests, the rapid influenza diagnostic test (RIDT) is believed to have the largest market size and is expected to witness a CAGR of 6.87% during the forecast period.

    Rapid influenza diagnostic tests (RIDTs) are immunoassays, which help to identify the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens and qualitatively provide the results. It can diagnose patients, who are present with influenza-like illness, mainly if it is performed within the first four days of the onset of symptoms.

    The rising popularity of RIDT is due to the benefits of faster result and simple usage. Some of the RIDTs are also approved for office/bedside use as well. The RIDT segment is also expected to witness rapid growth, as a result of their common usage in point-of-care settings.

    However, one of the major drawback associated with RIDT is that it gives false negative results, due to its low to moderate sensitivities (50-70%). Healthcare policymakers began to recognize the impact of its low sensitivity in 2009, when the novel H1N1 influenza epidemic occurred.

    North America Dominates the Market and is Expected to do the Same in the Forecast Period

    North America currently dominates the market for influenza diagnostics and is expected to continue its stronghold for a few more years.

    As per data published by the Centers for Disease Control and Prevention (CDC), RIDTs are commonly available across the region. The reason behind the wide availability of the test is the reduced time span needed to generate results. RIDT can yield results in 15 minutes. With increasing influenza-associated hospitalization and pediatric deaths and the interest of government organizations to better manage the disease, the North American influenza diagnostics market is expected to grow in the future.

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    Detailed TOC of Influenza Diagnostics Market Report are:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Prevalence of Influenza and Related Chronic Diseases
    4.2.2 Growth in Research Funding for Influenza Diagnostics
    4.2.3 Rising Demand for Early Diagnosis and Control of Influenza
    4.3 Market Restraints
    4.3.1 Product Safety and High Cost of Development
    4.3.2 Stringent Government Regulations
    4.3.3 Variability in Sensitivity and Specificity among Influenza Diagnostic Tests
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Test Type
    5.1.1 Traditional Diagnostic Test
    5.1.1.1 Rapid Influenza Diagnostic Test (RIDT)
    5.1.1.2 Viral Culture
    5.1.1.3 Direct Fluorescent Antibody (DFA) Test
    5.1.1.4 Serological Assay
    5.1.2 Molecular Diagnostic Assay
    5.1.2.1 RT-PCR
    5.1.2.2 Nucleic Acid Sequence-based Amplification (NASBA) Test
    5.1.2.3 Loop-mediated Isothermal Amplification-based Assay (LAMP)
    5.1.2.4 Simple Amplification-based Assay (SAMBA)
    5.1.2.5 Other Molecular Diagnostic Assays
    5.2 End User
    5.2.1 Hospital
    5.2.2 Research Laboratory
    5.2.3 Other End Users
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 United Kingdom
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina
    5.3.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Abbott
    6.1.2 Becton, Dickinson and Company
    6.1.3 Coris BioConcept
    6.1.4 DiaSorin SpA
    6.1.5 F. Hoffmann-La Roche Ltd
    6.1.6 Luminex Corporation
    6.1.7 Meridian Bioscience Inc.
    6.1.8 Quidel Corporation
    6.1.9 Sekisui Diagnostics
    6.1.10 Thermo Fisher Scientific Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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