The demand for rapid influenza diagnostic tests will be significantly bolstered by the global prevalence of infectious diseases and viral infections.
The demand for rapid influenza diagnostic tests will be significantly bolstered by the global prevalence of infectious diseases and viral infections. There is also a noticeable rise in the awareness regarding flu among the older population base residing across the world. The Centre for Disease Control and Prevention (CDC) reported that over 9.3 to 49 million individuals across the U.S. are annually affected by influenza. It had also been revealed that flu and seasonal viral infections are the leading common disorders infecting men and women across the region.
Rapid influenza diagnostic tests (RIDT) are mainly performed to render proper diagnosis and treatment of some highly contagious diseases that are caused by airborne route and physical contact. The tests offer accurate detection as well as diagnosis of flu and various other viral infections.
Estimates suggest that the global rapid influenza diagnostic tests market size is likely to record over USD 689 million in yearly revenue by 2025.
Improved treatment of influenza A
The rapid influenza diagnostic tests market share from the influenza A product segment crossed USD 352.5 million in 2018 and will gain considerable traction over the next few years. The growth can be attributed to the expansion in the number of elderly individuals across the globe together with the increasing instances of flu and infectious diseases. The World Health Organization (WHO), estimated that nearly 7 million adults in 2018 were affected by influenza. Besides, there is an augmenting focus by consumers to effectively diagnose and treat this viral disease.
Higher potential to treat pediatric patients
The annual remuneration of the rapid influenza diagnostic tests market from pediatric patients is pegged to rise at 7.5% through 2025 owing to the consistent prevalence of influenza in children, infants, and adolescents. As per the NSW Government, around 192 in every 100,000 children, that are aged between 0-5 months, need to be hospitalized per month. This is because of the higher severity of influenza among the pediatric patient pool that leads to their frequent hospitalizations in comparison to the affected adults and geriatric individuals.
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Scope across diagnostic centers
Demand for rapid flu diagnostic tests across diagnostic centers brought a revenue share of USD 171.5 million in 2018. This can be owed to the growing instances of influenza testing among children and adults. Provision to specialized services and hospitalized infrastructure has increased the patient preference to undergo different pathological tests across these facilities. Furthermore, the RIDT procedures conducted across diagnostic centers offer enhanced diagnosis and convenience in the treatment of flues and viral infections.
Canada to see a considerable footprint
Canada is a leading hub for advanced healthcare practices and treatments across the world. This regional rapid influenza diagnostic tests market is anticipated to expand at 7.3% through 2025 due to the high hospitalization rate across the region. The Infection Control and Prevention Canada stated that over 55,000 patients across the country suffered from influenza in 2018. Furthermore, the rising consumer awareness regarding the prevention of flu, common cold, and contagious diseases has increased their willingness to spend on diagnosis and treatment of these ailments.
India to emerge as a key market
The rapid influenza diagnostic tests market for the Indian region collected USD 15.1 million in global share in 2018 on account of the increasing number of influenza patients in the region. As per the National Centre for Biotechnology Information, there were more than 30,000 people affected by influenza in 2015. This penetration of the disease across the country will add positive impetus to the regional adoption of rapid diagnostic tests for influenza.
Solution providers in rapid influenza diagnostic testing are working towards inorganic strategies and novel product developments to increase their company sales and geographic penetration, specifically in the present COVID-19 pandemic.
For instance, in January 2021, Thermo Fisher Scientific Inc., acquired Mesa Biotech, Inc., to expand its portfolio with the latter’s PCR-based rapid point-of-care testing system. This platform will assist in the detection of infectious diseases like SARS-CoV-2 (COVID-19), as well as Influenza A and B.
The global rapid influenza diagnostic tests market players are SA Scientific, DiaSorin S.p, BD, and CorisBioconcep.
However, the stringent guidelines imposed on the approval of new kits could hamper the demand for the tests to a certain extent.
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