May 29, 2024
Global Rapid Influenza Diagnostic Tests Market

Global Rapid Influenza Diagnostic Tests Market is Estimated to Witness High Growth Owing to Rising Disease Prevalence

Market Overview:

Global Rapid Influenza Diagnostic Tests help in quick diagnosis of influenza virus types (A & B) directly from respiratory specimens like nasal swabs. These tests are useful for physicians to make timely clinical decisions.

The Global Rapid Influenza Diagnostic Tests Market was valued at US$ US$ 1.29 Billion in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 – 2033, as highlighted in a new report published by CoherentMI.

Market Dynamics:

Rising prevalence of influenza disease worldwide is expected to be a major driver for the growth of the Global Rapid Influenza Diagnostic Tests Market Size during the forecast period. According to World Health Organization (WHO), influenza results in about 3–5 million cases of severe illness and around 290,000 to 650,000 respiratory deaths globally each year. In addition, growing demand for rapid diagnosis of influenza is also expected to boost market growth. Rapid testing helps physicians identify cases early to provide timely treatment. This in turn prevents development of complications. Moreover, increasing access to healthcare facilities especially in developing countries also supports market growth.

Increasing demand for point-of-care testing for influenza diagnosis

Point-of-care testing allows for rapid testing and results outside of a central laboratory, providing diagnosis in physician offices, urgent care clinics, and even potentially at home. This reduces the time to diagnosis and treatment, which is especially important for influenza given its potential severity and the ability of antiviral drugs to reduce symptoms if taken early in infection. The ability to diagnose influenza rapidly at the point of care avoids unnecessary antibiotic usage or hospitalizations and allows for timely public health reporting. Several Global Rapid Influenza Diagnostic Tests are approved for point-of-care use by lay users without requiring special equipment or medical training to perform and read the tests. This allows for convenient and affordable testing in various community-based healthcare settings.

Growing adoption of multiplex respiratory panels

Multiplex respiratory panels allow for the simultaneous detection and differentiation of multiple respiratory viruses and bacteria causing diseases with similar symptoms like influenza. This provides a more comprehensive result than tests that only detect influenza. Using a single specimen, these multiplex tests can identify whether a patient is infected with influenza viruses (A or B), respiratory syncytial virus (RSV), human metapneumovirus, parainfluenza virus, adenovirus, rhinovirus/enterovirus, coronavirus or bacterial pathogens like Mycoplasma pneumoniae and Chlamydophila pneumoniae. Identifying the exact cause of infection enables better treatment decisions and infection control. The availability of easier to use, less expensive multiplex tests is driving their increased adoption, posing a threat to single-pathogen influenza tests.

Challenges of annual viral strain changes

Influenza viruses are constantly mutating, resulting in antigenic drift that requires annual changes to the viral strains included in seasonal influenza vaccines. The world health organization monitors viral strains globally and makes recommendations for the vaccine composition months before the start of influenza season in the northern hemisphere. However, there can be discrepancies between the vaccine strains and circulating field strains in a given season. Global Rapid Influenza Diagnostic Tests need to be able to reliably detect even minor genetic changes to the viral strains. Developers face technical challenges updating tests to the WHO recommended viral strain changes on an annual basis. Failure to keep pace with evolving viral strains could limit the clinical utility and sales of some tests.

Opportunities in home testing

The COVID-19 pandemic has increased acceptance and demand for accessible diagnostic testing outside of traditional healthcare settings. There is an opportunity for Global Rapid Influenza Diagnostic Tests to expand into the direct-to-consumer channel through online and retail pharmacy sales of home collection and testing kits. Self-collection and home-use would reduce virus transmission in healthcare facilities and provide results rapidly without needing to visit a doctor. However, regulatory, reimbursement and usability hurdles need to be cleared before home influenza tests become widely adopted. Developers are working on easy to use, small, portable tests that can leverage smartphones for result reading and reporting. Successful home testing products could capture a large share of the influenza diagnostics market.

Growing focus on influenza surveillance

Public health agencies aim to monitor influenza virus transmission and spread through surveillance programs. Traditional laboratory-based influenza diagnostic testing is too slow to provide real-time epidemiological insight. There is an increasing focus on using more rapid point-of-care and multiplex respiratory tests to gather timely data on circulating influenza strains, severity, patient demographics and treatment responses. This data helps optimize vaccine composition recommendations, antiviral usage, infection control measures and resource allocation. Test developers are exploring partnerships with public health organizations and electronic reporting platforms to facilitate large-scale influenza surveillance using diagnostic tests. The need for robust, year-round surveillance drives demand for accurate, high-throughput Global Rapid Influenza Diagnostic Tests.

Objectives of the Report:

1) Investigate and forecast the value and volume of the Global Rapid Influenza Diagnostic Tests market.

2) Estimate market shares for major Global Rapid Influenza Diagnostic Tests segments.

3) To demonstrate how the market for Global Rapid Influenza Diagnostic Tests is evolving in various parts of the world.

4) Research and analyze micro markets in terms of their contributions to the Global Rapid Influenza Diagnostic Tests market, as well as their prospects and individual growth patterns.

5) To provide precise and useful information on the factors influencing the rise of Global Rapid Influenza Diagnostic Tests.

6) To provide an in-depth analysis of key business strategies used by major companies in the Global Rapid Influenza Diagnostic Tests market, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and acquisitions, mergers, and acquisitions.

FAQ’s

Q.1 What are the main factors influencing the Global Rapid Influenza Diagnostic Tests market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Rapid Influenza Diagnostic Tests Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Rapid Influenza Diagnostic Tests market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it