Influenza Diagnostics Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Technavio has been monitoring the influenza diagnostics market and it is expected to grow by $ 401.89 mn, accelerating at a CAGR of almost 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Influenza Diagnostics Market: Key Trends to impact market growth
Several factors such as the increase in healthcare expenditure and the availability of advanced diagnostic techniques will help in the adoption of influenza diagnostic equipment by various end-users. This will drive the influenza diagnostics market to witness significant growth during the forecast period. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Influenza Diagnostics Market: Top Drivers to Boost Demand
The growing demand for molecular diagnostics is one of the primary factors driving the growth of the influenza diagnostics market. The outbreak of COVID-19 has led to the growth and innovation in the molecular diagnostic market. Molecular diagnostics is a very sensitive method and provides highly accurate results using real-time polymerase chain reaction (RT-PCR). This ability is significant for blood screening and is now being used extensively. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: Abbott Laboratories, Becton, Dickinson and Co. and bioMerieux SA are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Becton, Dickinson and Co., bioMerieux SA, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Hologic Inc., Quidel Corp., Siemens Healthineers AG, and Thermo Fisher Scientific Inc. are some of the major market participants.
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Influenza Diagnostics Market: Key Highlights of the Report for 2021-2025
Influenza Diagnostics Market Size to Grow by $ 1.32 bn through 2020-2024
The influenza diagnostics market is expected to grow by $ 1.32 bn, decelerating at a CAGR of almost 10% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report
Influenza Diagnostics Market: Segmentation by End-user
This report provides a detailed analysis of the market by End-user (Hospitals and diagnostic laboratories, Academic and research centers, and Home care) and Geography (North America, Europe, Asia, and ROW). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Influenza Diagnostics Market: Vendor Analysis
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Biocartis Group NV, Bio-Rad Laboratories Inc., Danaher Corp., DiaSorin Spa, GenMark Diagnostics Inc., Meridian Bioscience Inc., Quidel Corp., Siemens Healthineers AG, and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
Influenza Diagnostics Market: Segmentation by End-user
During 2019, the hospitals and diagnostic laboratories segment accounted for the major share of the Influenza Diagnostics Market. Hospitals and diagnostic laboratories, which represented 65.64% of the overall market in 2019, will be the fast-growing segment during 2019-2024. Hospitals and diagnostic laboratories have advanced and highly sophisticated equipment, which can detect influenza viruses accurately and efficiently. These centers are an integral part of influenza diagnostic, surveillance, treatment, and research system.
Influenza Diagnostics Market: Segmentation by Geography
North America had the largest market share in the influenza diagnostics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising approvals for influenza diagnostic products will significantly influence influenza diagnostics market growth in this region. 35% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for influenza diagnostics in the region. This report provides estimations of the contribution of all regions to the growth of the influenza diagnostics market size.
Influenza Diagnostics Market: Vendor Analysis
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. Vendors offer dedicated immunoassay-based and molecular diagnostic-based assay kits and systems such as QuantStudio 3 and 5 Real-Time PCR Systems. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Biocartis Group NV and Bio-Rad Laboratories Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
