Global Rapid Influenza Diagnostic Tests (RIDT) Market: Overview
Rapid influenza diagnostic tests (RIDTs) refer to the process of evaluation of antigen detection, which identifies influenza viral antigens with a very short span of time, within 10 to 15 minutes, with high accuracy. Influenza is regarded as an important reason for mortality and morbidity in human population. As such, the need for use and development of diagnostics aimed at lessening subsequent economic and health impacts arises. This is likely to add impetus to the global rapid influenza diagnostic tests (RIDT) market over the forecast period.
In addition, rapid rise in the prevalence of chronic diseases and influenza also boost the global rapid influenza diagnostic tests (RIDT) market.
The global rapid influenza diagnostic tests (RIDT) market has been segmented on the basis of two parameters, end use and region.
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Global Rapid Influenza Diagnostic Tests (RIDT) Market: Notable Developments
The following development in the global rapid influenza diagnostic tests (RIDT) market reveals the changing market dynamics:
- In 2019, leading biotechnology product development firm, Thermo Fisher Scientific Inc. acquired Brammer Bio. The latter is a renowned manufacturer of cell and gene therapies. It is expected that the acquisition will expand the product portfolio of Thermo Fisher Scientific Inc. and further expand its geographical reach.
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A few of the leading market vendors of the global rapid influenza diagnostic tests (RIDT) market are as mentioned below:
- Thermo Fisher Scientific
- Analytik Jena AG
- Becton, Dickinson and Company
- Meridian Bioscience, Inc.
- Alere Inc.
- Luminex Corporation
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Global Rapid Influenza Diagnostic Tests (RIDT) Market: Key Trends
The following drivers, restrains, and opportunities is expected to shape the future course of the global rapid influenza diagnostic tests (RIDT) market during the study period, from 2019 to 2027.
Growing Prevalence of Influenza to Bolster Growth of RIDT Market
Influenza outbreaks and epidemics generally present risks for public health across the globe. The global rapid influenza diagnostic tests (RIDT) market is likely to experience substantial growth over the period of forecast, from 2019 to 2027. These tests are gaining upper hand over the traditional methods owing to their ability to identify the presence of viral antigens of influenza A and B. These tests find the viral antigens in respiratory samples and present the outcome in qualitative format. The short period of time taken by rapid influenza diagnostic tests to yield results makes it a popular choice, thereby boosting the global rapid influenza diagnostic tests (RIDT) market.
Growing prevalence of influenza is expected to fuel the global rapid influenza diagnostic tests (RIDT) market. According to the estimates of Centers for Disease Control and Prevention (CDC), nearly 12,000 to 79,000 people die every year for in the U.S. due to influenza. In addition, a rise in awareness about importance of prevention and early detection of diseases like influenza is likely to support growth of the market over the period of forecast.
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Availability of increased funding for influenza diagnostic tests is likely to fuel growth of the global rapid influenza diagnostic tests (RIDT) market. For example, contagious disease testing company, Diassess Inc., received government funding of US$ 21.9 mn for the development of its
flu diagnostic technology. This technology can be used in the office of physicians and then at patients’ home eventually. As such, increased government measures could support growth of the global rapid influenza diagnostic tests (RIDT) market.
Global Rapid Influenza Diagnostic Tests (RIDT) Market: Geographical Analysis
From the regional standpoint, North America is likely to hold a prominent share in the global rapid influenza diagnostic tests (RIDT) market in forthcoming years. The market in this region is estimated to retain its dominance owing to the presence of advanced healthcare infrastructure. Furthermore, abundant supply of skilled healthcare professionals together with relentless technological progress offers abundant scope for growth of the North America rapid influenza diagnostic tests (RIDT) market.
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