June 13, 2024
Global Rapid Influenza Diagnostic Tests Market

Global Rapid Influenza Diagnostic Tests Is Estimated To Witness High Growth Owing To Increasing Awareness Regarding Early Detection Of Influenza

Rapid influenza diagnostic tests (RIDTs) refer to antigen detection-based assays that allow rapid diagnosis of influenza infections. They provide quick test results within 15-30 minutes and help medical professionals take timely treatment decisions for influenza infected patients. Growing availability of easy-to-use RIDTs kits that can quickly diagnose influenza A and B viruses at the point-of-care is improving patient management. RIDTs save time by eliminating the need for laboratory testing and help minimize prescriptions of unnecessary antibiotics. They are widely adopted in hospitals, diagnostic laboratories, and physician offices.

The Global Rapid Influenza Diagnostic Tests Market Size Is Estimated To Be Valued At US$ 1.29 Bn In 2024 And Is Expected To Exhibit A CAGR Of 7.9% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the Global Rapid Influenza Diagnostic Tests 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 companies are focusing on new product launches and collaborations to strengthen their market position.

The market provides opportunities for growth owing to rising awareness programs about influenza, increasing preference of point-of-care testing, and growing geriatric population worldwide who are more susceptible to influenza infections. Emergence of co-infections further necessitates rapid diagnosis.

RIDTs adoption is increasing globally with rising influenza burden in regions like Asia Pacific and Latin America. Market players are expanding their manufacturing and distribution networks in developing countries to boost sales. Novel technologies integrating artificial intelligence aid automated interpretation are enhancing rapid influenza tests.

Market Drivers

The global rapid influenza diagnostic tests market is driven by increasing awareness regarding early detection and treatment of influenza. Recommendations by healthcare organizations to opt for RIDTs for quick diagnostics is augmenting market growth. Higher risk of influenza spreading during pandemic outbreaks boosts demand for rapid tests that can be used at airports, schools, and public places for mass screening.

Pest Analysis

Political: The rapid influenza diagnostic tests market is regulated by government agencies that oversee diagnostic product approval and reimbursement policies. These regulations have an impact on market adoption and growth.

Economic: During an influenza outbreak season, rapid diagnosis helps reduce the economic burden of the disease by minimizing lost work and productivity. Widespread use of rapid tests for influenza can prove cost-effective.

Social: Rapid influenza diagnostic tests provide results within 30 minutes, enabling timely treatment decisions. This satisfies an important social need for quick diagnosis, especially in hospital settings and during peak flu seasons.

Technological: Recent technological advancements have enabled the development of new rapid diagnostic platforms relying on immunoassays, molecular assays, or imaging techniques. Portable tests and self-testing formats are becoming available.

Geographical Regions Of Concentration

In terms of value, North America holds the largest share of the global rapid influenza diagnostic tests market. This can be attributed to supportive reimbursement policies and high awareness regarding flu diagnosis in the region.

Fastest growing region
The Asia Pacific region is poised to witness the fastest growth over the forecast period. Factors such as rising healthcare investments, increasing influenza disease burden, and growing diagnostic capabilities are boosting market expansion in Asia Pacific countries.

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 Market’s growth between 2024 and 2031.

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

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

:- Global Rapid Influenza Diagnostic Tests  Market 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  Market vendors

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