by The Global Rapid Influenza Diagnostic Tests Market provides testing solutions for quick and accurate diagnosis of influenza infection. Rapid testing helps in early detection of strains of influenza virus through immunoassay based detection of viral nucleoproteins from patient specimens like nasal or throat swabs. The tests are portable, easy-to-use, and provide results within 15-30 minutes, allowing timely treatment decisions.
The Global Rapid Influenza Diagnostic Tests Market is estimated to be valued at US$ 1.29 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Global Rapid Influenza Diagnostic Tests Market include Quidel Corporation, Becton Dickinson, Thermo Fisher Scientific, Abbott Laboratories, F. Hoffmann-La Roche, DiaSorin, Luminex Corporation, Meridian Bioscience, GenMark Diagnostics, Sekisui Diagnostics, and Virax Biolabs.
The Global Rapid Influenza Diagnostic Tests Market is witnessing high growth owing to rising demand for point-of-care testing and increasing prevalence of influenza infections globally. Rapid tests help reduce diagnostic turnaround time for influenza from days to hours compared to conventional lab testing methods.
The Global Rapid Influenza Diagnostic Tests Market is also expanding its footprint across emerging markets of Asia Pacific, Middle East & Africa, and Latin America due to growing healthcare investments, increasing access to diagnostics, and rising awareness about infectious diseases testing.
Market Key Trends
The development of novel immunoassay based rapid diagnostic platforms with improved specificity, sensitivity and automation is a key trend being observed in the Global Rapid Influenza Diagnostic Tests Market. These advanced platforms are capable of detecting multiple influenza virus strains simultaneously, reducing diagnostic errors and providing clinically relevant results faster.
Porter’s Analysis
Threat Of New Entrants: Rapid influenza diagnostic tests require regulatory approvals and also require sizable investments and partnerships, limiting threat of new entrants.
Bargaining Power Of Buyers: Buyers have moderate bargaining power as there are many established players providing diagnostic kits and services.
Bargaining Power Of Suppliers: Suppliers have low to moderate bargaining power as raw materials used are commoditized with many substitutes available.
Threat Of New Substitutes: Threat of new substitutes is moderate as new technologies are emerging like molecular-based tests posing threat to traditionally used immunoassays.
Competitive Rivalry: Industry has some key global players competing on product innovation, quality and services.
Geographical Regions
North America currently dominates the global rapid influenza diagnostic tests market in terms of value owing to high diagnosis rates, accessibility to healthcare services and supportive reimbursement policies in countries like United States and Canada.
Asia Pacific is expected to witness the fastest growth during the forecast period owing to improving healthcare infrastructure, rising medical tourism, large patient pool and growing awareness about importance of early diagnosis in countries like India and China.
What Are The Key Data Covered In This Global Rapid Influenza Diagnostic Tests Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Rapid Influenza Diagnostic Tests’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Rapid Influenza Diagnostic Tests and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Rapid Influenza Diagnostic Tests Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Rapid Influenza Diagnostic Tests vendors
FAQ’s
Q.1 What are the main factors influencing the Global Rapid Influenza Diagnostic Tests?
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 companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Rapid Influenza Diagnostic Tests’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: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
