May 24, 2024
Global Rapid Influenza Diagnostic Tests Market

Global Rapid Influenza Diagnostic Tests Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Influenza

Market Overview:

Global Rapid Influenza Diagnostic Tests are point-of-care medical devices used to detect influenza viruses. These tests provide fast diagnosis of influenza and help determine appropriate treatment measures. They offer results within 15-30 minutes and are becoming popular diagnostic tools for influenza.

The Global Rapid Influenza Diagnostic Tests Market was valued at US$ US$ 1.29 Billion in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 – 2033, as highlighted in a new report published by CoherentMI.

Market Dynamics:

The Global Rapid Influenza Diagnostic Tests Market Size is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

The Global Rapid Influenza Diagnostic Tests market is driven by the increasing prevalence of influenza across the globe. As per the World Health Organization, influenza affects around 1 billion people worldwide annually. Moreover, its seasonal nature leads to recurrent outbreaks every year. As rapid diagnostic tests enable timely detection of influenza, their demand is increasing from hospitals, diagnostic laboratories, and other healthcare settings for better management of influenza patients. Additionally, rapid tests allow distinguishing influenza from other respiratory infections with similar symptoms like COVID-19, aiding in differential diagnosis. These advantages over conventional diagnostic methods are further contributing to the growth of the Global Rapid Influenza Diagnostic Tests market.

Rapid Diagnosis Drive the Uptake of Global Rapid Influenza Diagnostic Tests

The fast diagnosis of influenza infection has become increasingly important for appropriate clinical management and reducing healthcare costs. Global Rapid Influenza Diagnostic Tests (RIDTs) enable clinics and hospitals to diagnose influenza within 30 minutes, allowing for prompt treatment decisions and isolation measures if needed. This rapid availability of results is driving greater adoption of RIDTs compared to conventional influenza tests that require laboratory processing and can take 2-3 days to produce a result. The quicker diagnosis also enables healthcare providers to avoid unnecessary antibiotic prescriptions and procedures for influenza cases, reducing costs.

Government Efforts to Expand Surveillance Drive Market Growth

Many governments now recommend or require the use of RIDTs by healthcare facilities to aid in influenza surveillance and outbreak tracking. This provides data to public health agencies on circulating influenza strains and severity of the seasonal influenza epidemics. The expanded testing supported by government initiatives and funding is spurring higher sales of RIDTs. Manufacturers are developing new multiplex RIDTs that can detect influenza as well as other respiratory pathogens simultaneously to help meet the growing demand for simplified diagnostic solutions.

Reducing Testing Costs Constrain Widespread Adoption

While RIDTs offer faster results compared to conventional influenza tests, their testing costs are still relatively high compared to standard rapid streptococcal tests or pregnancy tests. RIDTs range from $15 to $50 per test compared to under $10 for rapid strep tests. This cost differential has posed an adoption challenge in certain healthcare settings and developing countries with constrained healthcare budgets. Low-cost alternative diagnostic methods may be preferred over RIDTs for mass screening programs. Major technological improvements are still needed to significantly reduce the cost per RIDT.

Growth of Telehealth Presents Opportunity for Remote Diagnosis

The COVID-19 pandemic accelerated the adoption of telehealth and remote patient monitoring approaches. This represents an opportunity for RIDTs, as the tests could allow clinicians to diagnose influenza, prescribe medications, and recommend treatment remotely without requiring an in-person visit. Combined with home testing solutions under development, RIDTs open the potential for decentralized diagnosis of influenza via telehealth portals. Manufacturers expanding offerings into telehealth and home testing markets could gain an edge over conventional laboratory testing amid changing healthcare landscapes favoring digital and remote care options.

Digital Connectivity Drives Innovation in Multiplex Testing

Advances in multiplexing technologies now allow the development of RIDTs that can simultaneously detect and differentiate between influenza A, influenza B, SARS-CoV-2 and other respiratory viruses from a single patient sample. As 5G networks and internet connectivity become more widespread globally, this creates opportunities for portable, self-contained and digitally connected testing solutions. Future RIDTs could transmit test data and results securely and automatically to public health databases as well as patients’ medical records via wireless networks without human involvement. Manufacturers investing in digital connectivity, biosensor miniaturization and multi-analyte detection will be well positioned to lead innovation in the evolving RIDTs market.

Objectives of the Report:

1) Investigate and forecast the value and volume of the Global Rapid Influenza Diagnostic Tests market.

2) Estimate market shares for major Global Rapid Influenza Diagnostic Tests segments.

3) To demonstrate how the market for Global Rapid Influenza Diagnostic Tests is evolving in various parts of the world.

4) Research and analyze micro markets in terms of their contributions to the Global Rapid Influenza Diagnostic Tests market, as well as their prospects and individual growth patterns.

5) To provide precise and useful information on the factors influencing the rise of Global Rapid Influenza Diagnostic Tests.

6) To provide an in-depth analysis of key business strategies used by major companies in the Global Rapid Influenza Diagnostic Tests market, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and acquisitions, mergers, and acquisitions.

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