Influenza Diagnostic Market Size Worth US$ 3,336.9 Million by 2034: Fact.MR Report
Key Market Players Focusing on Making Influenza Diagnostic Solutions More Accessible and Affordable
Rockville , Feb. 22, 2024 (GLOBE NEWSWIRE) — The global influenza diagnostic market is estimated to be US$ 1,806.5 million in 2024 and is projected to grow at a 6.30% CAGR through 2034. The market is expected to surpass a valuation of US$ 3336.9 million by 2034.
The world is actively pushing towards pre-emptive care rather than reactive care, which has elevated the demand for effective influenza management treatments and solutions across the globe. The significance of influenza diagnostic treatments has skyrocketed in the last few decades due to the continuous emergence of new and evolving strains of influenza viruses. This has prompted a growing need for advanced and reliable influenza diagnostic tools.
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In countries like India, Australia, the United States, and China, where both government and private healthcare entities invest billions of dollars in advanced laboratories and diagnostic centers, the adoption of advanced influenza diagnostic treatments is rising. This is one of the main reasons why these countries are some of the leading markets in the influenza diagnostic industry. Apart from this, these countries also exhibit high levels of health literacy and proactive public health policies, further contributing to the growth of this market.
Hospitals, diagnostic centers, research and academic institutes, and contract research organizations all rely on efficient influenza diagnostic technologies to swiftly and accurately identify influenza cases. Hospitals form one of the largest consumer pools in the influenza diagnostic market. These facilities use influenza diagnostic technologies to facilitate early detection and appropriate management of influenza cases. Hospitals also implement these methodologies to prevent the spread of influenza within their own premises.
| Report Attribute | Details |
| Value Projection (2034) | US$ 3,336.9 million |
| Growth Rate (2024-2034) | 6.3 % CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 24 Tables |
| No. of Figures | 120 Figures |
Key Takeaways from the Market Study
- The global influenza diagnostic market is projected to expand at a CAGR of 6.30% from 2024 to 2034.
- The North American influenza diagnostic market is expected to grow at a CAGR of 6.40% from 2024 to 2034.
- The United States holds a dominant share of 87.70% of the North American influenza diagnostic market.
- Japan is expected to dominate the influenza diagnostic market in the East Asian region, with a market valuation of US$ 102 million in 2024.
- The influenza diagnostic industry in the United States is expected to rise at a CAGR of 6.4% from 2024 to 2034.
- Based on the test type, the traditional diagnostic tests segment is estimated to hold a 66.70% market share in 2024.
- The hospitals and clinical laboratories segment is expected to lead the market based on the end user, with a 54.40% share in 2024.
“Continuous innovation is the key. Companies in the influenza diagnostic market must allocate resources for continuous research and development to innovate and improve existing influenza diagnostic technologies,” says a Fact.MR analyst.
Key Market Players Profiled in This Report
- Thermo Fisher Scientific
- Hologic
- Quidel Corporation
- F. Hoffmann-La Roche AG
- Abbott Laboratories
- Becton
- Dickinson and Company
- Danaher Corporation
- Meridian Bioscience
- bioMérieux SA
- Luminex Corporation
- Siemens Healthineers AG
- GenMark Diagnostics
- Sekisui Diagnostics
- LLC Altona Diagnostics GmbH
- SA Scientific
- ELITech Group
- Coris Bioconcept SPRL
- Mast Group Ltd.
Competitive Landscape
Major industry players like Thermo Fisher Scientific, Hologic, Quidel Corporation, F. Hoffmann-La Roche AG, Abbott Laboratories, and Becton are pioneers in advanced influenza diagnostics. Hospitals, diagnostic laboratories, research and academic institutes, and contract research organizations depend on these industry leaders for cutting-edge influenza diagnostic solutions. Smaller companies, with limited consumer bases and marketing capabilities, often rely on innovations introduced by industry giants to implement new technologies in their diagnostic products.
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Country-wise Insights:
Forecasts indicate that the influenza diagnostics market in North America will develop at an average compound annual growth rate (CAGR) of 6.40% through 2034. The main cause of the spike is the rising demand for influenza diagnostics in important nations, particularly Mexico and the United States. The influenza diagnostic market is dominated by the United States, which is expected to hold an estimated 87.70% market share in 2024.
It is projected that the influenza diagnostic market in East Asia would grow significantly, with a target compound annual growth rate of 6.60% by 2024. Japan emerges as the industry leader in this area, with a substantial share of 45.10% in 2024.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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