The growing incidence of influenza and the increasing need for rapid and accurate testing is propelling the market demand.
The global Influenza Ailment market is forecast to reach USD 1.15 Billion by 2027, according to a new report by Reports and Data. The market is growing due to the increase in the incidence of influenza all over the world. An increase in the geriatric population, coupled with increasing rising prevalence of chronic diseases, is driving market demand. The emergence of advanced technologies, development in therapies, and growing funding by the government in research and development for influenza ailment are other factors that are boosting the demand of the market.
The cost of healthcare is increasing over time, and new diagnostic tests approval is a whole complex regulatory framework that takes up a lot of time. These factors are limiting the market growth. The prevalence of influenza in different forms and affecting more and more people with increased intensity. The Spanish influenza pandemic in 1918 and the Ebola outbreak in the year 2014-2016 are examples of the havoc the disease can wreak. This has created a cause of concern among the government and the World Health Organizations. There is a dire need for new and effective therapy to prevent the spread. In 2018, there were 69,007 people diagnosed from the disease out of which 67,733 suffered from type A virus while 1,274 with the type B. The virus is continuously growing in the South-East Asia region.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Thermo Fisher Scientific Inc., Hologic Inc., Diasorin SA, Becton Dickinson Company, Meridian Bioscience, Siemens Healthineers, F. Hoffmann-La Roche AG, Danaher Corporation, Luminex Corporation, and Genmark Ailment, Inc., among others.
Market Segmentation by Types:
Flu Type Outlook (Revenue, USD Million; 2017-2027)
- Type A
- Type B
- Type C
Test Type Outlook (Revenue, USD Million; 2017-2027)
- Traditional Diagnostic Tests
- Molecular Diagnostic Tests
End Use Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Clinical Laboratories
- Point of Care Testing
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Influenza Ailment market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Further key findings from the report suggest,
- Rapid influenza diagnostic tests or RIDTs are the most commonly done test on patients to check if they are influenza-positive or not. These tests are popular as they produce results in less than 15 minutes and are quite simple to perform. Some of them are also cleared for bedside use and can be used in point of care testing places as well. Moreover, these tests are cost-effective, as well.
- Type A flu is the virus that is capable of infecting animals, although it is more common for people to suffer from the ailment associated with the flu. Wild birds commonly act as a host for this virus. This virus is the one responsible for large flu epidemics. The segment held a market share of 39.6% in the year 2019.
- Hospitals are the largest end users of the market product. The treatment of the disease is done mainly in the hospitals owing to its complex nature and technologically advanced product. It held the largest market share of 41.9% in the year 2019.
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