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Rapid Influenza Diagnostic Tests Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Author : Ronak Bora | Published Date : 2020-09-10 

Rapid Influenza Diagnostic Tests Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Increasing cases of viral infections and diseases across the world are fueling the deployment of rapid influenza diagnostic tests (RIDT). These tests are used for the diagnosis of highly contagious diseases given to their accurate diagnosis and detection capabilities. Growing cases of flu and other viral infections is expected to propel the growth of RIDT market over the coming years.

High awareness and precautionary measures from flu by the geriatric population is expected to drive product demand. As per CDC (Centers for Disease Control and Prevention), in the U.S., approximately 9.3 million to 49 million people suffer from influenza every year. Seasonal viral infections and flu are one of the most common illnesses among women and men across the country. With such rise in disease prevalence, GMI, suggests that rapid influenza diagnostic tests market is anticipated to exceed USD 689 million by 2025.

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Government funding for R&D and support development of diagnostic firms may thrive the development of RIDT market. In 2020, an Indian healthcare start-up funded by the Department of Science & Technology revealed that it is working on developing a rapid diagnostic test kit to detect the presence of various diseases, including the novel coronavirus.

The product spectrum of the RIDT market is divided into Influenza B and Influenza A RIDT. Of these, the RIDT for Influenza A segment was valued at USD 352.5 million in 2018 and is projected to display similar growth trend over the forecast timeframe. Growing geriatric population and increasing prevalence of flu and other infections may drive segment traction. As per a report by WHO, almost 7 million adults suffered from influenza in the year 2018.

In terms of type of patient, the market is divided into adult and pediatric. Estimates suggest that the pediatric segment is anticipated to grow by 7.5% in the coming years owing to growing incidence of influenza among pediatric population and a higher number of pediatric patients getting hospitalized as compared to adults and geriatric population.

Based on end-use, the RIDT market is bifurcated into diagnostic centers, research laboratories and hospitals. Use of RIDT in diagnostic centers is expected to grow rapidly due to an increasing rate of influenza testing among children and geriatric population. Diagnostic centers provide better diagnosis and treatment for viral infections whilst offering specialized services and a hospitalized infrastructure.

On a global scale, the RIDT market is divided into North America, Latin America, Asia Pacific and Europe. In North America, the Canada rapid influenza diagnostic tests market is estimated to grow 7.3% over the forecast timeframe owing to high hospitalization rate and rising awareness about the prevention of flu and other contagious diseases in the country. While across APAC, the India RIDT market is expected to experience lucrative growth in the upcoming years owing to increasing number of influenza cases driving the demand and use of rapid influenza diagnostic tests.

The competitive landscape of RIDT market consists of firms such as Coris Bioconcep, DiaSorin S.p, BD and SA Scientific, among others. These firms are implementing various strategic initiatives such as partnerships, new product launches, mergers and acquisitions to expand geographical presence. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/rapid-influenza-diagnostic-tests-ridt-market

Partial Chapter of the Table of Content 

Chapter 5.   Rapid Influenza Diagnostic Tests Market, By Patient

5.1. Global rapid influenza diagnostic tests market share, by patient, 2018 & 2025

5.2. Pediatric

5.2.1.  Market size, by region, 2014 – 2025 (USD Million)

5.3. Adult

5.3.1.  Market size, by region, 2014 – 2025 (USD Million)

Chapter 6.   Rapid Influenza Diagnostic Tests Market, By End-use

6.1.   Global rapid influenza diagnostic tests market share by end-use, 2018 & 2025

6.2.   Hospitals

6.2.1.  Market size, by region, 2014 – 2025 (USD Million)

6.3.   Diagnostics centers

6.3.1.  Market size, by region, 2014 – 2025 (USD Million)

6.4.   Research laboratories

6.4.1.  Market size, by region, 2014 – 2025 (USD Million)

6.5.   Others

6.5.1.  Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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