Influenza Diagnostic Global Market Report 2024

The influenza diagnostic market size has grown strongly in recent years. It will grow from $2.59 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The expansion observed in the historic period can be credited to several factors including heightened public health awareness, advancements in technology, the development of antiviral medications, and an increased focus on pandemic preparedness.

The influenza diagnostic market size is expected to see strong growth in the next few years. It will grow to $3.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The projected growth in the forecast period can be linked to several factors, notably the persistent occurrence of seasonal influenza, the rise in point-of-care testing, increased adoption of remote and home testing, and the integration of digital health solutions. Noteworthy trends anticipated in this period encompass the prevalence of point-of-care testing, the utilization of molecular diagnostics, the development of antigen-based tests, the emergence of multiplex assays, and the implementation of automation and robotics within the industry.

The future growth of the influenza diagnostic market is anticipated to be significantly driven by the increasing prominence of rapid diagnostic tests. These tests are medical tools used to confirm or rule out illnesses, and rapid influenza diagnostic tests (RIDTs) specifically can detect influenza viral antigens in approximately 10-15 minutes, albeit with moderate sensitivity ranging from 50-70%. As per the data from the US-based Centers for Disease Control and Prevention (CDC) spanning from September 2020 to May 2021, out of 818,939 respiratory specimens tested by clinical laboratories in the United States, only 1,675 (0.2%) were positive for an influenza virus. This underscores the pivotal role of rapid diagnostic tests in propelling the influenza diagnostic market growth.

The conventional diagnostic tests for influenza comprise rapid influenza diagnostic tests (RIDT), viral culture, DFA, serological assays, and other tests. Rapid influenza diagnostic tests (RIDTs) are immunoassays capable of identifying the presence of influenza A and B viral nucleoprotein antigens in respiratory samples, offering a qualitative outcome (positive or negative). Molecular diagnostic tests encompass a range of methods such as Reverse Transcription Polymerase Chain Reaction (RT-PCR), Isothermal Nucleic Acid Amplification Tests (INAAT), loop-mediated isothermal-based amplification assays, transcription-mediated isothermal-based amplification assays, and other isothermal nucleic acid amplification tests. These tests are employed by hospitals, clinical laboratories, diagnostic reference laboratories, academic/research institutes, and other end users.

The influenza diagnostic market research report is one of a series of new reports that provides influenza diagnostic market statistics, including influenza diagnostic industry global market size, regional shares, competitors with a influenza diagnostic market share, detailed influenza diagnostic market segments, market trends and opportunities, and any further data you may need to thrive in the influenza diagnostic industry. This influenza diagnostic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A pivotal driving factor for the market is the augmented funding for influenza diagnostics research. Effectively addressing the public health impact of influenza necessitates an in-depth understanding of the virus and its effects on individuals and communities. Accelerating scientific research progress is crucial for significant public health outcomes. Both public and private health organizations, researchers, health professionals, and biopharmaceutical companies have amplified their expenditure on research funds or grants to mitigate the risks associated with pandemic influenza. Notably, in April 2021, the National Institute of Allergy and Infectious Diseases (NIAID), a segment of the National Institutes of Health, allocated $24 million in funding to support five Centres of Excellence for Influenza Research and Response (CEIRR), including one at St. Jude Children's Research Hospital. A substantial portion of the federal contract's initial year's funding, totaling over $8.9 million for St. Jude's research, was directed toward the enhanced understanding, prediction, tracking, and treatment of emerging influenza and other viruses.

The market's growth is being restrained due to the variability in sensitivity and specificity among various influenza diagnostic tests. In many rapid flu tests, there are challenges in accurately identifying patients with influenza, as their sensitivity ranges widely from 10-80% across different patient groups. Most diagnostic tests exhibit an increased rate of false-negative results during periods of low influenza virus activity, leading to potential misdiagnoses. Consequently, the variability in sensitivity and specificity among these tests is impeding the growth of the influenza diagnostic market.

Key players in the influenza diagnostic market are actively innovating and developing groundbreaking products like the Lucira COVID-19 & Flu Home Test, allowing rapid simultaneous qualitative detection. This single-use at-home test kit enables users to obtain results from self-collected nasal swab samples in approximately 30 minutes. An example of such innovation is the approval received by Pfizer Inc., a US-based pharmaceutical company, in February 2023 for the Lucira by Pfizer COVID-19 & Flu Home Test. This test is capable of detecting both influenza A and B (commonly known as the flu) and SARS-CoV-2, the virus responsible for COVID-19.

The utilization of rapid influenza diagnostic tests (RIDTs) in influenza diagnostics is increasingly prevalent. RIDTs, which are immunoassays, identify the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens, providing a qualitative result (positive or negative). These tests deliver outcomes within a clinically relevant timeframe of approximately 15 minutes and are particularly effective in diagnosing patients with influenza-like symptoms, especially within the first four days of symptom onset. The growing favor for RIDTs is attributed to their user-friendly nature and swift diagnostic capabilities.

In February 2021, Thermo Fisher Scientific Inc., a US-based company specializing in clinical development, completed the acquisition of Mesa Biotech, Inc. for an undisclosed sum. This strategic acquisition is aimed at enhancing manufacturing capacity, achieving cost efficiencies, and expediting the delivery of vital diagnostics to the market on a larger scale. Mesa Biotech, Inc. is a US-based company focusing on infectious disease diagnostics.

Major companies operating in the influenza diagnostic market include F. Hoffmann-La Roche Ltd., Quidel Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Hologic Inc., Becton Dickinson and Company, DiaSorin SpA, Luminex Corporation, Meridian Bioscience Inc., GenMark Diagnostics Inc., SA Scientific Ltd., Sekisui Diagnostics LLC, bioMérieux Inc., Danaher Corporation, Siemens Healthineers AG, Coris Bioconcept Sprl, Mast Group, Elitech Technology lnc., Analytik Jena AG, altona Diagnostics GmbH, Tecan Trading AG, Genome Diagnostics Pvt Ltd., Germaine Laboratories Inc., Response Biomedical Corporation, TAUNS Laboratories Inc., TRUPCR Europe Ltd., Quest Diagnostics Inc., Labcorp Employer Services Inc., TotalWellness Ltd., Health Advocate Inc., Optum Global Solutions Private Ltd.

North America was the largest region in the influenza diagnostics market in 2023. Western Europe was the second largest region in the influenza diagnostics market. The regions covered in the influenza diagnostic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the influenza diagnostic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The influenza diagnostic market includes revenue earned by test kit and reagents, and other products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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