Rapid influenza diagnostic tests (RIDTs) are used to detect influenza viral antigens in respiratory specimens collected from patients with symptoms of influenza. The RIDT market is a growing segment of the healthcare industry that is focused on the development and commercialization of diagnostic tests for the rapid and accurate detection of influenza viruses. The market for these tests is driven by the increasing prevalence of influenza, the need for rapid and accurate diagnosis, and the growing demand for point-of-care testing.
Market Size and Growth:
Worldwide revenue from the rapid influenza diagnostic tests market was about US$ 952.1 Mn in 2022, with the global market estimated to surge ahead at a CAGR of 8.4% to reach a valuation of US$ 2.4 Bn by the end of 2033.
As assessed by Persistence Market Research, influenza A+B test segment is expected to hold a largest market value of US$ 832.6 Mn by 2023. Overall, rapid influenza diagnostic tests market sales account for approximately 3.3% revenue share in the global rapid test market, which was valued at around US$ 28.5 Bn at the end of 2022.
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Segmentation:
The rapid influenza diagnostic tests market can be segmented based on type, end-user, and region. By type, the market can be divided into immunofluorescence assays (IFAs), lateral flow assays (LFAs), and molecular assays. By end-user, the market can be divided into hospitals, clinics, and others. By region, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Analysis:
North America is the largest market for rapid influenza diagnostic tests, accounting for a significant share of the global market. The region is expected to maintain its dominance during the forecast period due to the high prevalence of influenza, the growing demand for point-of-care testing, and the availability of advanced medical technologies in the region. Europe is the second-largest market for rapid influenza diagnostic tests, driven by the increasing prevalence of influenza and the availability of advanced medical technologies in the region. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period, driven by the increasing prevalence of influenza in the region and the growing demand for point-of-care testing.
Competitive Landscape:
The global rapid influenza diagnostic tests market is highly competitive, with a large number of players operating in the market. Some of the key players in the market include Abbott Laboratories, Becton, Dickinson and Company, Roche Diagnostics, Quidel Corporation, Sekisui Diagnostics, SA Scientific, and Thermo Fisher Scientific. These players are focused on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their customer base.
Conclusion:
The rapid influenza diagnostic tests market is a growing segment of the healthcare industry, driven by the increasing prevalence of influenza, the need for rapid and accurate diagnosis, and the growing demand for point-of-care testing. The market is expected to continue to grow during the forecast period, driven by the development of new diagnostic tests and the increasing adoption of point-of-care testing in emerging markets.