Influenza Diagnostic Global Market Report 2020-30: Covid 19 Implications and Growth

New York, July 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Influenza Diagnostic Global Market Report 2020-30: Covid 19 Implications and Growth" - https://www.reportlinker.com/p05932638/?utm_source=GNW
, and GenMark Diagnostics.

The global influenza diagnostics market is expected to grow from $1.14 billion in 2019 to 1.31 billion in 2020 at a compound annual growth rate (CAGR) of 14.7%. A significant increase is registered in 2020 due to the COVID 19 outbreak. The global pandemic which is expected to be there for some time and the upcoming flu season could place a tremendous burden on the healthcare system and result in many illnesses, hospitalizations and deaths. This is expected to drive the demand for more rapid detection diagnostic kits. Since COVID-19 and the flu are respiratory illnesses and can cause similar symptoms, the governments across the globe are making preparedness plans. For instance, the CDC is seeking emergency use authorization from the FDA for a new assay that can simultaneously detect SARS-CoV-2 and influenza. The market is then expected to stabilize and reach $1.43 billion in 2023 at a CAGR of 2.89%.

The influenza diagnostic market consists of sales of diagnostic tests used to diagnose influenza including viral culture, serology, rapid antigen testing, reverse transcription-polymerase chain reaction (RT-PCR), immunofluorescence assays, and rapid molecular assays. Influenza, commonly known as flu, is a contagious illness caused by the influenza virus. Three varieties of this virus affect people: type A, type B, and type C. Common symptoms include fever, sore throat, cough, body ache, fatigue, and headache. The market consists of revenues generated by establishments conducting the diagnostics tests for influenza virus detection.

North America was the largest region in the global influenza diagnostics market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

In June 2019, Meridian Bioscience Inc., an international producer and distributor of a range of diagnostic test kits, completed its acquisition of GenePoc Inc., a Canadian provider of molecular diagnostic instruments and assays. Meridian will now include GenePOC’s state-of-the-art revogene molecular diagnostics platform, which offers samples to result in testing for single tests, as well as flexible multiplexing capability. GenePOC is a subsidiary of Debiopharm Group. It specializes in the development and commercialization of rapid molecular assays usable on the unique revogene platform for near-patient infectious disease diagnostic.

The influenza diagnostics market covered in this report is segmented by traditional diagnostic tests into rapid influenza diagnostic tests (RIDT); viral culture; DFA; serological assays; others. It is also segmented by molecular diagnostic tests into 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; other isothermal nucleic acid amplification tests; other molecular diagnostic tests and by end-user into hospitals & clinical laboratories; diagnostic reference laboratories; academic/research institutes; other end-users.

The variability in sensitivity and specificity among the influenza diagnostic tests is restraining the growth of the market. In most rapid flu tests, there are difficulties in identifying patients with influenza. The sensitivity of rapid flu tests ranges from 10-80% across various patient populations. Most diagnostic tests show an increase in the rate of false-negative results during low influenza virus activity, which often leads to an incorrect diagnosis. Thus, the variability in sensitivity and specificity is restraining the growth of the influenza diagnostic market.

Rapid influenza diagnostic tests (RIDTs) are increasingly being implemented in influenza diagnostics. RIDTs are immunoassays which can identify the presence of influenza A and B viral nucleoprotein antigens in respiratory specimens and display the result in a qualitative way (positive vs. negative). It can yield results in a clinically relevant time frame of less than approximately 15 minutes and diagnose patients, who are present with influenza-like illness, mainly if it is performed within the first four days of the onset of symptoms. The rising popularity of RIDT is due to the benefits such as simple to use and rapid diagnosis.

In 2018, Siemens Healthineers acquired Fast Track Diagnostics for an undisclosed amount. By introducing Fast Track Diagnostics products to its molecular diagnostics portfolio, Siemens Healthineers is investing in precision medicine and better patient experience through solutions that eliminate the need for repeat diagnostic testing, reducing time and improving patient outcomes. Fast Track Diagnostics specializes in the design, development and manufacture of infectious disease detection kits that use syndromic multiplex real-time PCR.

The major factor driving the market is increasing funding for research on influenza diagnostics. Addressing the public health impact of influenza disease requires a proper understanding of the virus and its effect on individuals and populations. Therefore, it is important to accelerate the pace of scientific research progress that can have the greatest public health impact. Many public and private health organizations, researchers, health professionals, biopharmaceutical companies have maximized the spending for research funds or grants to reduce the risk of the emergence of pandemic influenza. For instance, in 2019, the National Institute of Allergy and Infectious Disease (NIAID), part of the National Institutes of Health, has initiated the Collaborative Influenza Vaccine Innovation Centers (CIVICs) program, a new network of research centers that will work together to develop influenza vaccines. NIAID will provide up to approximately $51 million in total first-year funding for the program, which is designed to support the CIVICs program centers over seven years.


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