The influenza diagnostic equipment market has been steadily growing due to the rising prevalence of influenza cases worldwide. Influenza diagnostic equipment is crucial in early detection and accurate diagnosis of the virus, aiding in effective disease management and prevention. The market includes various diagnostic tools such as rapid influenza diagnostic tests (RIDTs), polymerase chain reaction (PCR) tests, and other immunoassays. With advancements in technology and increased awareness about the importance of prompt diagnosis, the market has experienced significant growth in recent years.
The report " Influenza Diagnostic Equipment Market, By Type (Influenza Diagnostic Tests RIDT, Reverse Transcription Polymerase Chain Reaction RT-PCR, and Cell Culture), By Application (Hospital, POTC, and Laboratories), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030. Growing prevalence of influenza among individuals across the globe is projected to drive the growth of the global influenza diagnostic equipment market. As per the data published by WHO, in 2018, influenza can cause severe sickness or deaths. The illness may range from mild to severe. Also, the annual increase is projected to result in about 3 to 5 million cases of severe illness, and about 290 000 to 650 000 deaths, worldwide. Additionally, rising focus by the government to prevent and control influenza are other factors leading to the growth of the global market. Furthermore, increasing awareness about influenza across the globe is expected to further propel the growth of the global market shortly.
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Key Highlights:
• In July 2018, Becton, Dickinson and Company declared the commercial release of the BD AbSeq assay to analyze protein expression at the single-cell level using high-throughput sequencing.
• In January 2018, QIAGEN NV and DiaSorin proclaimed a partnership that planned to add QIAGEN's QuantiFERON-TB diagnostic test to the menu of DiaSorin's LIAISON family of fully-automated analyzers.
Analyst view:
From an analyst's perspective, the influenza diagnostic equipment market is viewed positively, primarily due to its impressive Compound Annual Growth Rate (CAGR) 7% and increasing market value. The consistent rise in CAGR indicates a sustainable and healthy growth rate over a specific period, which is considered favorable by investors and stakeholders.The robust CAGR reflects the growing demand for influenza diagnostic equipment driven by factors such as the rising incidence of influenza cases, increasing awareness about early diagnosis, and continuous advancements in diagnostic technologies. As a result, market players are witnessing significant revenue expansion and profit potential, making it an attractive sector for investment.Moreover, the increasing market value further solidifies the market's potential. As the total market value rises, it signals a growing market size and a higher overall revenue potential for businesses operating in this domain. This encourages more investment and innovation within the sector, leading to the introduction of better and more efficient diagnostic solutions.
Competitive landscape:
The prominent player operating in the global influenza diagnostic equipment market includes BD Medical, Abbott Laboratories, Alere, Thermo Fisher Scientific, Roche Diagnostics, Quidel Corporation, DiaSorin, SA Scientific, Sekisui Diagnostics, and Luminex Corporation.
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