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(Medical-NewsWire.com, July 15, 2020 ) Market growth is largely driven by factors such as the increasing prevalence of influenza, growth in research funding for influenza diagnostics, and the rising demand for faster diagnosis are the major factors that are expected to drive the growth of this market in the coming years. However, variability in sensitivity and specificity among influenza diagnostic tests, the presence of a complex regulatory framework for the approval of new diagnostic tests, and rising healthcare costs are expected to restrain the growth of this market to a certain extent in the coming years.
The global influenza diagnostics market is expected to grow from USD 695 million in 2020 to USD 1,012 million by 2025, at a CAGR of 7.8% during the forecast period.
Influenza Diagnostics Market by Test type (Molecular (RT-PCR,LAMP, NASBA), Traditional (Viral Culture, Direct Fluorescent Antibody, Rapid Influenza Detection Tests, Serological Assays)), End user (Hospital, Clinical Laboratories) - Global Forecast to 2025
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Global Influenza Diagnostics Market is Segmented into:
Test Type
End User
Test Type
Based on the test type, the influenza diagnostics market is segmented into traditional diagnostic tests and molecular diagnostic tests. The RIDT segment accounted for the largest share of the influenza diagnostics market for traditional diagnostic tests of the influenza diagnostic market in 2019. The large share of this segment can be attributed to increased adoption of cost-effective and faster RIDT as a first line of diagnosis and screening process have been raised among the end-users. This is a major factor responsible for the largest share of this segment.
End User
Based on end-user, the global influenza diagnostic market is divided into hospitals, clinical laboratories, and other end users. The hospitals segment accounted for the largest share of the influenza diagnostic market in 2019 as the influenza disease diagnostics is commonly carried out in hospitals, as it is complex in nature and requires technologically advanced products.
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The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific (APAC)
4. Latin America
5. Middle East and Africa (MEA)
Geographical Growth Analysis:
The influenza diagnostic market is divided into four major regions-North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the global influenza diagnostic market, closely followed by Europe. Factors such as the increasing prevalence of influenza and increasing number of influenza screening test performed in this region are driving the growth of the North American market during the forecast period.
Some key players mentioned in the research report are:
The major companies in the influenza diagnostic market include Hoffmann-La Roche AG (Switzerland), Quidel Corporation (US), Thermo Fisher Scientific Inc. (US), Abbott Laboratories, Inc. (US), and Hologic Inc. (US).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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