Global Influenza Diagnostics Market 2019-2023 | 9% CAGR Projection over the Next Five Years | Technavio

LONDON–(BUSINESS WIRE)–#Biotechnology–The global influenza diagnostics market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.

A key factor driving the growth of the global influenza diagnostics market size is the increasing demand for point-of-care diagnostics. The lack of healthcare infrastructure in developing regions has become a major threat to initiatives taken by various authorities to strengthen influenza surveillance and increase the capabilities of laboratories for influenza diagnosis. Thus, to overcome infrastructure-related issues, diagnostic kit manufacturers are offering antigen detection-based RIDT kits. These kits enable healthcare practitioners to perform influenza diagnosis in merely 15-30 minutes and deliver timely treatment to patients. This is expected to fuel the influenza diagnostics market growth during the forecast period.

As per Technavio, the rise in approvals for influenza diagnostic products by regulatory authorities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global influenza diagnostics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Influenza Diagnostics Market: Rise In Approvals of Influenza Diagnostic Products by Regulatory Authorities

Manufacturers in the market are constantly focusing on developing and upgrading their diagnostics product portfolio to meet the compliance standards mandated by regulatory agencies such as ECDC, CFDA, and the US FDA. This has led to the approval of an increasing number of influenza diagnostic products in the market. The increase in approvals for new products by regulatory authorities is expected to stimulate the growth of the influenza diagnostics market.

“Apart from the increase in approvals of influenza diagnostic products, other factors such as the rising adoption of rapid diagnostic products in physician office laboratories, and a surge in number of genetic characterization studies on influenza virus will have a significant impact on the influenza diagnostics market growth during the forecast period,” says a senior analyst at Technavio.

Global Influenza Diagnostics Market: Segmentation Analysis

This market research report segments the global influenza diagnostics market by product (point-of-care testing, immunodiagnostics, and molecular diagnostics), and geographic regions (North America, Europe, Asia, and ROW).

The North American region led the influenza diagnostics market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the influenza diagnostics market in North America can be attributed to factors such as the presence of many key market vendors, launch of new products, rising healthcare expenditure, and the presence of healthcare reimbursement schemes.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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