Influenza Diagnostics Market, Predicts Robust Growth and Emerging Opportunities from 2023 to 2033
The influenza
diagnostics market is anticipated to witness substantial growth from 2023
to 2033, with a projected global market valuation of US$ 3.1 billion,
reflecting a robust compound annual growth rate (CAGR) of 6.1%. The current
worldwide revenue from influenza diagnostics is reported at US$ 1.6 billion in
2022, with an estimated market size of US$ 1.61 billion for the same year.
Persistence Market Research's analysis indicates that
traditional diagnostic tests are expected to hold the majority market share,
reaching a value of US$ 1.14 billion by 2023. In the broader context of
infectious disease diagnostics, the influenza diagnostics market contributes
approximately 4.8% to the overall revenue, which was valued at around US$ 33.5
billion by the end of 2022.
Examining the sales trajectory from 2015 to 2022, the global
influenza diagnostics market demonstrated a historical CAGR of 5.6%. The
influenza virus, responsible for causing the flu, is diagnosed using a range of
traditional and molecular diagnostic tools. Notably, advanced technologies such
as reverse transcription-polymerase chain reaction (RT-PCR) play a crucial role
in precise and effective influenza detection.
Modern diagnostic methods, including rapid influenza
diagnostics testing (RIDT), have gained prominence due to their swift results
and straightforward sample collection. The increasing prevalence of flu,
coupled with a growing preference for early detection through specific
diagnostic tests, has led to the production of CLIA-waived POC molecular
influenza assays. This shift towards distributed point-of-care testing is
expected to drive the global influenza diagnostics market's growth, positioning
it for a CAGR of 6.1% and a market size of US$ 3.08 billion by 2033.
Influenza Diagnostics Market Dynamics
Driving Force: Surge in Influenza Research for Diagnostic
Technologies
The increasing global prevalence of influenza has stimulated
intensified research efforts directed at enhancing the efficiency of influenza
detection and diagnosis. Significant attention is given to developing rapid and
accurate diagnostic solutions, with initiatives like the Collaborative
Influenza Vaccine Innovation Centers (CIVICs) program by the National Institute
of Allergy and Infectious Diseases (NIAID) contributing to market growth. The
NIAID has allocated USD 51 million in funding to support diverse influenza
research activities.
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Opportunity Unveiled: Advancements in Genomic and
Proteomic Technologies
The Human Genome Project and progress in molecular and
biomedical technologies have generated a wealth of data, leading to the
creation of numerous assays and technologies crucial for diagnosing and
managing influenza infections. Innovations in genomic techniques (such as
PCR-based) and proteomics (including microarray-based detection) offer avenues
for discovering new influenza viruses, enhancing surveillance, and enabling
rapid infectious disease diagnosis – presenting a notable opportunity for
market growth.
Challenge Faced: Variabilities in Test Sensitivity and
Specificity
The sensitivity and specificity of influenza diagnostic
tests significantly influence their outcomes, with the antigenic variation of
influenza viruses posing a challenge to test complexity. Variabilities in test
sensitivity and specificity, particularly during peak influenza seasons,
contribute to more frequent false-negative results than false-positive ones.
The recent FDA clearance of rapid influenza diagnostic tests (RIDTs) addresses
this challenge.
Regulatory Hurdle: Stringent Regulatory Framework
One of the primary challenges faced by diagnostic companies
revolves around the commercialization of tests and securing payment from
Medicare and private health insurers. This is crucial not only for physicians'
evidence-based decision-making but also for achieving regulatory approvals and
test reimbursements. The regulatory landscape for influenza tests has become
increasingly stringent in recent years, emphasizing the need for efficiency in
detecting all types of influenza viruses.
Country-specific Insights
U.S. Market Boom:
Growing Influenza
Prompts Adoption of Advanced Diagnostic Techniques
In 2022, the U.S. held a dominant 89.6% market share in
North America's influenza diagnostics market. The country's escalating
influenza prevalence is expected to drive the adoption of diagnostic kits, with
the demand for more efficient medical procedures likely to introduce new
diagnostic options. Notably, well-established industrial players like Abbott
and Quidel Corporation contribute to the market expansion through product
development and marketing.
Lucrative German Market:
Key Players
Introduce Innovative Kits
Germany, capturing a 35.3% share in the global market in
2022, is anticipated to lead in rapid influenza diagnostic tests. Factors such
as increased influenza prevalence, supportive government interventions,
presence of industry leaders, and advanced facilities contribute to Germany's
market dominance. The presence of manufacturing facilities enhances access to
influenza testing kits, with collaborative research studies among players
further fostering effective influenza diagnosis.
Emerging Japanese Market:
Increased
Prevalence of Neurodegenerative Diseases Drives Growth
Japan claimed a significant 45.2% share of the East Asia
influenza diagnostics market in 2022. The country's modern healthcare system,
favorable legislation and insurance, numerous organizations, and collaboration
with foreign enterprises position Japan as a thriving market for rapid
influenza diagnostics testing. The expansion is driven by factors like a rise
in influenza cases, a growing geriatric population, increased demand for rapid
disease diagnostics, and consolidation of top brands in the diagnostic sector.
Future Outlook of the Influenza Diagnostics Industry
Looking ahead, the influenza diagnostics industry is poised
for significant advancements and growth. The test kits and reagents segment is
expected to maintain its dominance, driven by an ongoing surge in influenza
cases globally and an escalating demand for rapid and accurate disease
diagnosis. Molecular diagnostic tests are anticipated to continue leading the
market in the test type category, supported by continuous research efforts in
influenza diagnostics technologies and the sustained rise in influenza
prevalence. Diagnostic laboratories are projected to remain the primary choice
among end users, benefiting from the increasing demand for prompt disease
diagnosis and their crucial role in comprehensive diagnostic procedures.
Geographically, North America is likely to retain its
position as the largest regional market, fueled by sustained research endeavors
and a continued increase in influenza cases. As technology continues to evolve,
the industry is likely to witness innovation in diagnostic solutions,
contributing to more efficient and precise influenza detection. Overall, the
future of the influenza diagnostics sector appears promising, with a continued
emphasis on advancements in technology, research, and meeting the rising demand
for timely and accurate diagnostics.
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