The influenza diagnostic market consists of sales of diagnostic tests used to diagnose influenza including viral culture, serology, rapid antigen testing, reverse transcription-polymerase chain reaction (RT-PCR), immunofluorescence assays, and rapid molecular assays. Influenza, commonly known as flu, is a contagious illness caused by the influenza virus. Three varieties of this virus affect people: type A, type B, and type C. Common symptoms include fever, sore throat, cough, body ache, fatigue, and headache.
The global influenza diagnostics market is expected to grow from $1.14 billion in 2019 to 1.31 billion in 2020 at a compound annual growth rate (CAGR) of 14.7%. A significant increase is registered in 2020 due to the COVID 19 outbreak. The global pandemic which is expected to be there for some time and the upcoming flu season could place a tremendous burden on the healthcare system and result in many illnesses, hospitalizations and deaths. This is expected to drive the demand for more rapid detection diagnostic kits. Since COVID-19 and the flu are respiratory illnesses and can cause similar symptoms, the governments across the globe are making preparedness plans. For instance, the CDC is seeking emergency use authorization from the FDA for a new assay that can simultaneously detect SARS-CoV-2 and influenza. The market is then expected to stabilize and reach $1.43 billion in 2023 at a CAGR of 2.89%.
