CHICAGO, April 15, 2020 /PRNewswire/ -- The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Influenza Diagnostics Market. We are working diligently to help companies take rapid decisions by studying:
- The impact of COVID-19 on the Influenza Diagnostics Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
- The rapid shifts in the strategies of the Top 50 companies in the Influenza Diagnostics Market
- The shifting short-term priorities of the top 50 companies' clients and their client's clients
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According to the recent report "Influenza Diagnostics Market by Test type (Molecular (RT-PCR,LAMP, NASBA), Traditional (Viral Culture, Direct Fluorescent Antibody, Rapid Influenza Detection Tests, Serological Assays)), End user (Hospital, Clinical Laboratories) - Global Forecast to 2025", published by MarketsandMarkets™, the global Influenza Diagnostics Market is expected to grow from USD 695 million in 2020 to USD 1,012 million by 2025, at a CAGR of 7.8% during the forecast period.
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The increasing prevalence of influenza, growth in research funding for influenza diagnostics, and the rising demand for faster diagnosis are the major factors that are expected to drive the growth of this market in the coming years.
By test type, the RIDT segment accounted for the largest share for traditional diagnostic tests of the influenza diagnostic market.
Based on the test type, the influenza diagnostics market is segmented into traditional diagnostic tests and molecular diagnostic tests. The RIDT segment accounted for the largest share of the influenza diagnostics market for traditional diagnostic tests of the influenza diagnostic market in 2019. The large share of this segment can be attributed to increased adoption of cost-effective and faster RIDT as a first line of diagnosis and screening process have been raised among the end-users. This is a major factor responsible for the largest share of this segment.
The hospital segment accounted for the largest share of the global influenza diagnostics market in 2019.
Based on end-user, the global influenza diagnostic market is divided into hospitals, clinical laboratories, and other end users. The hospitals segment accounted for the largest share of the influenza diagnostic market in 2019 as the influenza disease diagnostics is commonly carried out in hospitals, as it is complex in nature and requires technologically advanced products.
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North America accounted for the largest share of the market in 2019.
In 2019, North America accounted for the largest share of the global influenza diagnostic market, followed by Europe. Factors such as the increasing prevalence of influenza and an increasing number of influenza screening tests performed in this region are driving the growth of the North American market during the forecast period.
The major companies in the global influenza diagnostics market include Hoffmann-La Roche AG (Switzerland), Quidel Corporation (US), Thermo Fisher Scientific Inc. (US), Abbott Laboratories, Inc. (US) and Hologic Inc. (US).
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