Rapid Influenza Diagnostic Tests (RIDT) Market Analysis

Rapid Influenza Diagnostic Tests Market Analysis

Based on end-use, the market is segmented as hospitals, diagnostics centers, research laboratories, and others. The diagnostics centers segment held a dominant market share in 2021 and was valued at more than USD 412 million owing to the rising demand and surging awareness pertaining to the benefits offered by diagnostics centers in providing precise diagnosis related to the influenza respiratory illness. The diagnostic centers are highly significant in early-stage disease diagnosis and reducing the risk of trial & error treatment.
 

Additionally, the patient history and techniques of these facilities are assisting the researchers in the advancement of influenza treatment solutions. Several nations are focusing on the building of diagnostic centers that are equipped with the highly effective required tests and skilled professionals along with medical personnel that assist in the process of identifying influenza in a patient that is showing specific symptoms or signs. This is further allowing each test to perform well and have a chance of receiving precise results.
 

Moreover, the surging influenza prevalence will significantly propel the adoption of rapid influenza diagnostic tests at diagnostic centers. Hence, diagnostic centers play a crucial role in influenza disease diagnosis.
 

U.S. dominated the North America rapid influenza diagnostic tests market in 2021 and is anticipated to expand at a notable pace to reach over USD 608 million by 2030 due to the presence of major market players, an increase in the number of people suffering from influenza virus, a respiratory illness, etc. As per the Centers for Disease Control and Prevention (CDC), between October 1, 2021 - April 16, 2022, around 4,700,000 – 7,900,000 flu illnesses were recorded in the U.S.
 

Additionally, this flu season recorded around 2,800 – 8,200 deaths in the U.S. These statistics are highlighting the increased requirement for influenza tests that incorporate the use of rapid influenza diagnostic tests efficiently. The rapid influenza diagnostic tests have become a significant and cost-effective tool for the diagnosis of complications related to influenza, thereby boosting the product demand significantly. Hence, the adoption of rapid influenza tests has been significantly surging in the country over the past few years.
 

Moreover, the presence of prominent industry players such as Abbott, Quidel Corporation, and Sekisui Diagnostics among others in the country are engaged in new product development & commercialization that facilitates market expansion in the U.S.