North America Leads Global Influenza Diagnostics Industry Expansion

According to the latest market research study published by P&S Intelligence, the global influenza diagnostics market was valued at USD 946.9 million in 2023 and is anticipated to grow at a CAGR of 7.9%, reaching USD 1,603.1 million by 2030. The primary drivers of this growth include increasing rates of chronic diseases exacerbated by influenza, the aging population, and enhanced government efforts to track and manage flu outbreaks. The continuous advancement of diagnostic technologies and the development of more effective tools to detect and manage influenza have significantly contributed to market expansion. Governments are funding research for better diagnostic solutions, such as the NIH’s support for flu-related initiatives, which has further boosted market dynamics.

Technological innovations, particularly in molecular diagnostics and point-of-care testing, are shaping the future of the influenza diagnostics market. The rising development of combination tests for influenza and COVID-19 is also expected to drive market growth. With an increasing number of diagnostic tests becoming available for smaller clinics and research institutions, these innovations are making influenza diagnostics more accessible and efficient.

Key Insights

Product Segmentation

The test kits and reagents segment led the market in 2023, capturing 60% of the total market share. This dominance is driven by the widespread availability of test kits and their affordability, which make them popular among healthcare providers and consumers alike. Point-of-care testing kits are becoming especially significant as they allow for quick, at-home diagnosis, eliminating the need for in-person visits.

Instruments Segment

The instruments segment is expected to grow at the highest CAGR of 8.3% from 2024 to 2030, fueled by increased healthcare spending globally. This growth reflects the rising number of hospitals and diagnostic centers, which are investing in advanced diagnostic instruments for more reliable influenza detection.

Test Types

Traditional diagnostic tests hold a significant market share, with rapid influenza diagnostic tests (RIDTs) playing a pivotal role due to their ease of use and rapid results. However, molecular diagnostic tests, such as RT-PCR, are also experiencing high demand due to their greater accuracy in detecting influenza, particularly influenza B, and for determining the severity of infections.

Geographical Insights

North America accounted for the largest share, 65%, of the global market in 2023. The region’s strong healthcare infrastructure, high prevalence of influenza, and extensive government health programs are driving market expansion. This region is also leading in the adoption of advanced diagnostic tools and technologies.

Technological Advancements

Rapid advancements in diagnostic technologies, such as the development of combination tests for influenza and COVID-19, are transforming the market. These innovations not only improve diagnostic speed but also allow for simultaneous screening of multiple infections, enhancing the efficiency of flu monitoring and management in clinical settings.

Competitive Landscape

Major companies in the influenza diagnostics market are focusing on the development of advanced and more reliable diagnostic tools. For example, Roche has launched a combination test for COVID-19 and influenza, addressing the increased demand for multi-disease diagnostic solutions. Moreover, the rising trend of point-of-care (POC) testing, including at-home test kits, is expected to increase competition in the market.

Opportunities

With the increasing prevalence of influenza and the growing demand for early diagnosis and treatment, opportunities exist for the development of faster, more accurate, and cost-effective diagnostic tools. Research funding and government programs, such as the NIH’s funding for influenza research, are expected to further fuel these opportunities, making the market an attractive space for new entrants and existing players.