U.S. Influenza Diagnostics Market Is Projected To Reach $166.0 Million By 2026: Grand View Research, Inc.

November 15 09:52 2019
Grand View Research, Inc. – Market Research And Consulting.
The U.S. influenza diagnostics market size was valued at USD 109.2 million in 2018 and is anticipated to grow at a CAGR of 5.4% during the forecast period.

The U.S. influenza diagnostics market size is expected to reach USD 166.0 million by the year 2026 growing at a CAGR of 5.4% according to a new report by Grand View Research, Inc. Key drivers of the market include rising disease prevalence, increase in geriatric population and high-risk population for influenza such as children, pregnant women and immunosuppressed patients suffering from various chronic diseases.

The rise in the prevalence of the flu in the U.S. is expected to boost market growth. Data from CDC indicates that flu incidence was relatively low in the months of October 2018 and November 2018, however, rise in the number of cases was witnessed in December 2018 and remained high until February 2019. Influenza A was dominant in the southeastern part of the U.S. During 2018-2019 flu season, 536,301 specimens were tested in laboratories out of which 54,381 tested positive, among which 52,028 were of influenza A and 2,353 of influenza B. These facts are indicative of the rising prevalence of the flu, necessitating increasing demand for diagnostic products.

U.S. influenza diagnostics market size, by test type, 2015 - 2026 (USD Million)

Additionally, individuals with a high risk of contracting the influenza virus consist of children, pregnant women, immunosuppressed patients suffering from chronic diseases and healthcare workers. For instance, 28 pediatric deaths have been reported by the CDC in 2018-2019 indicative of the rising disease incidence. According to the CDC in 2018-2019, 1654 individuals aged 65 years of age and above were diagnosed with flu. Owing to their immunosuppressed state, this population group is more susceptible to flu and other infectious diseases causing complications. Thus, timely diagnosis facilitated by home care testing kits is further anticipated to fuel the market growth during the forecast period.

RDITs held the largest market share in 2018 as they are easily available and are user-friendly facilitating rapid diagnosis. In addition, key participants are engaged in various inorganic and organic strategic developments to expand their existing product portfolios and geographic expansion. For instance, in 2018, Quidel Corporation received 510(k) FDA clearance for their CLIA waived QuickVue Influenza A+B assay to be used for the rapid diagnosis of influenza A & B. This assay facilitates rapid detection of influenza B & A antigens by nasopharyngeal and nasal swab from patients.  

Hospitals held the largest market share in 2018 due to the rise in prevalence of flu. POCT is one of the fastest-growing segments due to technologically advanced products offered by leading players. For instance, in 2016, Becton, Dickinson, and Company launched a new wireless BD Veritor Plus System which is a rapid diagnostic device for the detection of B & A virus subtypes. This product serves hospitals, clinics, and laboratories. BD Veritor Plus System consists of BD cloud connectivity solution that allows users to transfer data securely to an electronic medical record. These factors are thus anticipated to positively impact market potential during the forecast period.

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https://www.grandviewresearch.com/industry-analysis/us-influenza-diagnostics-market

Further Key Findings from the Report Suggest:

  • Commercial availability of RIDTs and quick turnaround times are major factors that attribute to its large market share.

  • The hospitals market for U.S. influenza diagnostics held the largest market share in 2018 but is expected to gradually slow down with the advent of POCT.

  • Some major players catering to the U.S. influenza diagnostics market are Alere, 3M Health Care, Meridian Bioscience, Inc., Becton, Dickinson and Company, Quidel Corporation, Meridian Bioscience, Inc., SA Scientific, Roche Diagnostics Corporation, Thermo Fisher Scientific Inc. and Sekisui Diagnostics.

Access Free Sample Report: https://www.grandviewresearch.com/industry-analysis/us-influenza-diagnostics-market/request/rs1

Grand View Research has segmented the U.S. influenza diagnostics market report on the basis of test type and end use:

Test Type Outlook (Revenue, USD Million, 2015 – 2026)

  • RIDT

  • RT-PCR

  • Cell Culture

  • Others

End Use Type Outlook (Revenue, USD Million, 2015 – 2026)

  • Hospital

  • POCT

  • Laboratories

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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