Global Serological Test for Influenza Disease Diagnostics Market size (2023 - 2030)

In 2022, the Global Serological Test for Influenza Disease Market was valued at $0.8 Billion and is projected to reach a market size of $1.41 Billion by 2030. Over the forecast period of 2023-2030, market is projected to grow at a CAGR of 7.3%. Growth in influenza research for diagnostic technologies and the rise in the increase of patients with influenza is the major factor that is driving the growth of the industry.

Industry Overview:

Influenza virus testing is no longer required to make a medical prognosis of influenza in outpatients with suspected influenza, especially during accelerated influenza activity when seasonal influenza A and B viruses are circulating in the nearby community. However, influenza virus testing can inform clinical management when the outcomes may impact clinical choices such as whether or not to initiate antiviral treatment, operate different diagnostic testing, or enforce contamination prevention and manipulate measures for influenza.

Serological testing for influenza is now not endorsed for medical decision-making. Although provided by some commercial laboratories, serological testing consequences for antibodies to influenza A or B viruses on a single serum specimen can't be reliably interpreted. Proper serological testing for analysis of influenza requires paired acute and convalescent sera amassed 2-3 weeks apart, with dependable testing at a restricted number of public fitness or research laboratories to determine a 4-fold or larger rise in influenza virus strain-specific antibodies. Therefore, serological testing for influenza no longer grants timely consequences to assist with clinical decision-making and is now not encouraged besides for research and public fitness investigations.

There is a growth in influenza research for diagnostic technologies and a rise in the increase of patients with influenza. These factors are estimated to drive the growth of the market during the forecast period 2023-2028.

COVID-19 impact on the Serological Test for Influenza Disease Diagnostics Market 

The Serological Test for Influenza Disease Diagnostics Market is badly impacted by the Covid-19 pandemic The emergence of the COVID-19 pandemic has modified the transport of medical care throughout the world. The COVID-19 pandemic has appreciably affected the influenza diagnostics market; unfavorable adjustments in rules and guidelines, the closing of manufacturing services due to lockdowns, and disruptions in furnish chains have severely affected the market growth. In addition, restrained operations in most industries, insufficient funding for research and tutorial institutes, and challenges in presenting essential/post-sales offerings due to lockdowns have decreased the provision of influenza diagnostics products to end users. Furthermore, there are many similarities between influenza and COVID-19; each seasonal flu (influenza A and B) and COVID-19 are contagious viruses and exhibit comparable symptoms of respiratory illness. Influenza outbreaks usually show up from December to February. The COVID-19 outbreak additionally befell during the influenza season, ensuing in the expanded adoption of influenza exams during this period.

Recently, the trouble has become greater urgent due to the COVID-19 epidemic. Flu testing has multiplied dramatically throughout the US. Patients proceed to file mixing up the flu with COVID-19 given that each of these first signs is similar. However, the sequential intervals and associated fatality quotes of the two viruses are different. Rapid influenza diagnostic testing has expanded alongside COVID-19 exams due to the epidemic. Following developments in point-of-care technology that integrates COVID-19 testing and influenza A & B testing is predicted to surge the market

MARKET DRIVERS:

The growth in influenza research for diagnostic technologies and the rise in the increase of patients with influenza are driving the growth of the market

The growing world occurrence of influenza has multiplied R&D efforts toward high-quality detection and diagnosis. The majority of research undertaking is directed towards growing faster and greater correct diagnostic options for influenza viruses, which will lead to market growth. The international market for influenza diagnostics is anticipated to develop as influenza incidence rises. The facilities for Disease Management and Prevention (CDC) predicts that influenza reasons somewhere between 12,000 and 79,000 fatalities annually in the United States. The market is additionally predicted to boost throughout the forecast length as recognition of the price of early identification and prevention of illnesses such as influenza increases.

MARKET RESTRAINTS:

The presence of alternative testing methods is restraining the growth of the market

The presence of alternative testing methods such as RT-PCR, Traditional diagnostic tests and etc is restraining the growth of the market during the forecast period. There is an increase in the number of cases and therefore there should be a method that gives faster results. Due to faster and better results provided by the RT-PCR test, the Serological method is not preferred which is quite slow when it comes to giving results.

SEROLOGICAL TEST FOR INFLUENZA DISEASE DIAGNOSTICS MARKET REPORT COVERAGE:

This research report on the global Serological Test for Influenza Disease Diagnostics Market has been segmented and sub-segmented based on Influenza Type, End-Use, and region.

Global Serological Test for Influenza Disease Diagnostics Market   - By Influenza Type:

• Type A
• Type B
• Type C

Based on the influenza type, Type A influenza spread the most and caused a lot of trouble in 2022. This virus has induced flu pandemics, the global unfolding of a new disease. Influenza A has additionally triggered most epidemics, the full-size incidence of an infectious ailment inside a neighborhood at a unique time.

Global Serological Test for Influenza Disease Diagnostics Market - By End-Use:

• Hospitals
• POCT
• Laboratories

Based on the End-Use, the hospital segment held the primary income share with 42.3% in 2022. Seasonal influenza is accompanied by large instances of hospitalizations. The hospitalizations highlight the doable severity of the disease. Since influenza can additionally worsen the present fitness prerequisites or advance different problems that want hospitalization. For instance, in 2021-22, about 58.3% of sufferers hospitalized for flu in the U.S. had hypertension conditions, 44% of sufferers had cardiovascular diseases, and 40.6% had pregnancy complications. Hence, growing underlying clinical conditions such as autoimmune diseases, compel sufferers to choose health center treatment. Emerging technologically superior flu diagnostics tests, together with the integration of point-of-care science (POCT) and flu testing is predicted to ease the surveillance procedure amongst the geriatric population. Additionally, POCT is additionally predicted to enlarge flu testing in rural areas of the Asia Pacific regions, the place access to healthcare is limited.

Global Serological Test for Influenza Disease Diagnostics Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, North America is considered to be the key region and accounted for the predominant income share of 32.9% in 2022. The region is anticipated to proceed with its dominant function over the forecast period. This boom can be attributed to the growing government surveillance alongside the presence of key players.

Asia Pacific has witnessed the quickest CAGR in the forecasted period, the majority pushed by India and China. The key increase determinants in the place are a massive affected person pool, enhancing authorities’ collaborations, and enhancement in healthcare infrastructure. Various South-East Asia-Pacific regions have collaborated with global organizations, such as WHO, to tackle the challenges. The most frequent challenges skilled via the area are a lack of flu-positive samples, low representatives to gather the specimens, and the situation to ship the samples.

In phrases of consumption, the market in Europe is anticipated to extend at a low boom rate. However, product launches and capability expansion by a range of producers are predicted to improve the demand in these regions.

Global Serological Test for Influenza Disease Diagnostics Market Share by Company

1. Hologic, Inc.
2. bioMérieux SA
3. Quidel Corporation
4. Becton
5. Dickinson and Company
6. Meridian Bioscience
7. GenMark Diagnostics, Inc.
8. Luminex Corporation
9. Tecan Trading AG
10. DiaSorin SA
11. altona Diagnostics GmbH
12. SEKISUI Diagnostics
13. SA Scientific Ltd.
14. Coris BioConcept SPRL
15. ELITech Group
16. Mast Group Ltd.
17. Genome Diagnostics, Pvt. Ltd.

and others play a pivotal role in the market. Mergers and acquisitions in the enterprise have enabled players to diversify and decorate their carrier services.

Recently, Pfizer launched an initiation phase 3 clinical trial of the influenza vaccine. The company used mRNA technology to gain insights into more effective vaccines that can reduce rates of flu-related hospitalization and death.

Key companies and service companies are performing techniques such as technology discovery, and development, vertical collaboration, setting up a sturdy product portfolio thru startups, mergers and acquisitions, and regional expansion, to expand their international footprints. The market is highly fragmented into many players and industries that are trying their best to dominate the market in the smartwatch section, Prominent market players are pursuing a number of strategies, such as strategic joint ventures and partnership agreements, product innovations, lookup & development initiatives, geographical expansions, and mergers & acquisitions, to improve their foothold in the industry. Suppliers are additionally focusing on increasing their product choices to enhance the consumer experience.

NOTABLE HAPPENINGS IN THE GLOBAL SEROLOGICAL TEST FOR INFLUENZA DISEASE DIAGNOSTICS MARKET IN THE RECENT PAST:

• Collaboration - In Feb 2022, Siemens Healthineers, in collaboration with the United Nations Children's Fund, today announced its contribution to strengthening health systems in various African regions.