Rapid Influenza Diagnostic Tests Market SWOT Analysis by 2031
[Research Report] The Rapid Influenza Diagnostic Tests Market Size is expected to grow from US$ 961.23 million in 2022 to US$ 2031.42 million by 2031; it is estimated to register a CAGR of 9.8% during the forecast period.
Market Insights and Analyst View:
Rapid influenza diagnostic test (RIDT) is used to detect influenza virus by detecting the presence of viral antigens in a patient’s respiratory secretions, such as nasal swabs, throat swabs, and others. Sometimes, these are also used in conjunction with other diagnostic tests, such as polymerase chain reaction, which are more accurate than RIDT and tables time in producing results. The constant evolution of the influenza virus has increased the prevalence of influenza among large populations. The advancement in existing technology of rapid test kits is also evolving to enhance the accuracy and reduce the false negative test. Moreover, high risk of transmission and low vaccination rates in developing and underdeveloped economies are also expected to drive the rapid influenza diagnostic test market in near future.
Growth Drivers and Challenges:
Influenza, commonly known as flu, is a highly contagious respiratory illness caused by influenza, which varies from year to year. It can be affected by various factors such as climate, population density and vaccination rates. In recent years the prevalence of influenza has increased globally. As per the article published in Forbes Health, ~9 million influenza cases were reported during 2021-2022 and caused 100,000 hospitalizations and 5,000 deaths in the US. Additionally, influenza virus is constantly evolving through a process known as antigenic drift which allows then to evade the immune system and cause new outbreaks. This makes the vaccinated population susceptible to the new virus strains.
Influenza can have a high risk of transmission through the cough and sneeze of an infected person, and it can survive up to 48 hours, increasing the transmission rate and contributing to the prevalence of influenza. Moreover, low vaccination rates in developing and underdeveloped economies owing to the lack of access, hesitancy, and misinformation led to the increasing prevalence of influenza. Therefore, high risk of transmission and low vaccination rates contribute to the increasing prevalence of influenza, which drives the growth of RIDT market.
However, the increasing use of molecular diagnostic tests such as polymerase chain reaction (PCR) tests are more sensitive, accurate, and reliable compared to RIDT. Molecular diagnostic tests can detect the range of influenza viruses with faster results. The increased risk of false negative results with RIDT can also delay the diagnosis and treatment, worsening the overall patient condition. Moreover, lack of standardization and regulation of RIDT can lead to the variation in test results, making it difficult for healthcare providers to make appropriate choice for their patients.
Furthermore, high cost of RIDT compared to conventional laboratory-based test can affect the demand in developing and underdeveloped economies, making it unaffordable. Therefore, high cost, lack of standard regulations, increase in false negative results, and rising inclination towards molecular diagnostics are expected to hamper the growth of the RIDT market.
Strategic Insights
Report Segmentation and Scope:
The “Global Rapid Influenza Diagnostic Test Market Size” is segmented on the basis of test type, sample type, technology, end user and geography. Based on test type, the rapid influenza diagnostic test market is segmented into influenza A test, influenza B test, and influenza A+B test. Based on sample type, the rapid influenza diagnostic test market is segmented into nasal swab, throat swab and nasopharyngeal swab, and others. The rapid influenza diagnostic test market is segmented based on technology into immunochromatographic assays, immunofluorescence assays, and nucleic acid amplification test (NAAT). The rapid influenza diagnostic test market is segmented into hospitals and clinics, diagnostic centers, nursing homes, and others based on end user. The rapid influenza diagnostic test market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Segmental Analysis:
Based on test type, the rapid influenza diagnostic test market size is segmented into influenza A, B, and influenza A+B tests. In 2022, the influenza A+B test segment held the largest market share and also expected to grow at the fastest rate during the coming years owing to the advantages associated with influenza A+B test such as quick diagnosis and ease of use.
Rapid Influenza Diagnostic Test Market, by Sample Type – 2022 and 2031
Based on sample type, the rapid influenza diagnostic test market is segmented into nasal swab, throat swab, nasopharyngeal swab, and others. In 2022, the nasopharyngeal swab segment held the largest share of the market and expected to grow at the fastest rate during the coming years owing to the advantages offered by the nasopharyngeal swab includes higher yields and helps in quick diagnosis of influenza. This also helps in early diagnosis and treatment as compared to nasal or throat swab.
The rapid influenza diagnostic test market is segmented based on technology into immunochromatographic assays, immunofluorescence assays, and nucleic acid amplification test (NAAT). In 2022, the immunochromatographic assays segment held the largest share of the market and expected to grow at the fastest rate during the coming years owing to the excellent sensitivity and specificity along with applications. Moreover, various manufacturers are developing advanced immunochromatographic kits to diagnose various infections.
The rapid influenza diagnostic test market is segmented into hospitals and clinics, diagnostic centers, nursing homes, and others based on end user. In 2022, the hospitals and clinics segment held the largest share of the market. In addition, the diagnostic centers segment is also expected to grow at the fastest rate during the coming years. Hospitals and clinics experience the huge patient footfall as it provides all the healthcare facilities under one roof, making it a preferred choice for the large patient population.
Regional Analysis:
Based on geography, the rapid influenza diagnostic test market is categorized into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, North America held the largest rapid influenza diagnostic test market share, closely followed by Europe, and Asia Pacific is anticipated to register the highest CAGR during the forecast period. The increasing prevalence of influenza and surge influenza-related hospitalization in the region primarily drive the North American market growth. The US is expected to hold the major market share in North America region owing to the rising prevalence of influenza. According to CDC estimates, flu has led to 140,000 – 710,000 hospitalizations, 9 million – 41 million illnesses, and 12,000 – 52,000 deaths annually during 2010 and 2021. Moreover, the country houses some of the major manufacturers in the country that are focused on the development of advanced rapid influenza diagnostic tests, which led to the surge in product launches. For instance, in October 2021, Hologic launched the Aptima SARS-CoV-2/Flu Assay is, a multiplex COVID-19/flu test in North America and Europe for the detection of SARS-CoV-2, influenza A, and influenza B cause similar symptoms, including fever, cough, headache, and fatigue. Furthermore, the increase in home healthcare led to the establishment of home-based influenza tests that are authorized by the U.S. Food and Drug Administration (FDA) in case of emergency. For instance, in 2023, The US FDA approved Lucira COVID-19 & Flu Home Test, the first over-the-counter (OTC) at-home diagnostic test for emergency use authorization (EUA) for the diagnosis of influenza A and B, which is commonly known as the flu.
However, Asia Pacific registered as the fastest-growing region in the global rapid influenza diagnostic test market. The market in this region is expected to increase significantly in countries such as China, Japan, and India. The market's growth is attributed to increasing focus of market players in developing economies, and supportive government policies. In addition, the developments of the companies, product launches, and the mergers and collaborations to form the better opportunities for the users and the manufacturers to the marketing and purchase. For instance, Kaneka Corporation has received authorization for the manufacturing and sale of “KANEKA Immunochromatography Flu A/B & SARS-CoV-2 Ag”, which can test for COVID-19 (SARS-CoV-2) and influenza virus antigens in a single sample collection.
Furthermore, the technological advances the rapid influenza diagnostic test and the increasing government funding are responsible for product launches and procedures in the healthcare sector. For instance, in April 2023, Molbio Diagnostics launched the Truenat H3N2/H1N1 for differential diagnosis of the H1N1 virus and H3N2. The Central Drugs Standard Control Organisation (CDSCO) has approved the test and can provide sample-to-result within an hour. Truenat H3N2/H1N1 is the first point-of-care real-time PCR test that aids in confirming influenza infections. Therefore, all the above factors are expected to drive the rapid influenza diagnostic test market growth.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the global rapid influenza diagnostic test market are listed below:
- In June 2023, Kaneka Corporation received authorization for the manufacturing and sale of “KANEKA Immunochromatography Flu A/B & SARS-CoV-2 Ag”, which can test for COVID-19 (SARS-CoV-2) and influenza virus antigens in a single sample collection.
- In April 2023, Molbio Diagnostics launched the Truenat H3N2/H1N1 for differential diagnosis of the H1N1 virus and H3N2. The Central Drugs Standard Control Organisation (CDSCO) has approved the test and can provide sample-to-result within an hour. Truenat H3N2/H1N1 is the first point-of-care real-time PCR test that aids in confirming influenza infections.
- In March 2023, Lucira Health, Inc. launched Lucira COVID-19 & Flu Home Test in the United States, as well as the combination test's inclusion in the Australian Register of Therapeutic Goods (ARTG) for healthcare professionals in a point-of-care setting. The COVID-19 & Flu Home Test is the first and only combination COVID-19 & Flu test to be granted emergency use authorization (EUA) by the U.S. Food and Drug Administration (FDA) for over-the-counter (OTC) use at home and other non-laboratory sites.
- In January 2023, 2San launched a dual kit for SARS-CoV-2 & Influenza A+B. With the ongoing demand set upon the NHS post-pandemic, the over-the-counter kit has been launched to help alleviate pressures on healthcare institutions.
Competitive Landscape and Key Companies:
Some of the prominent players operating in the global rapid influenza diagnostic test market include Thermo Fisher Scientific Inc., Hologic, Abbott Laboratories, Siemens Helathineers AG, Quidel Corporation, Danaher Corporation, Meridian Bioscience, F. Hoffmann-La Roche, Becton Dickinson and company, and Luminex Corporation among others. These companies focus on geographical expansion and new product launches to meet global consumer demand and increase their product range in specialty portfolios. They have a widespread global presence, providing them with many customers and subsequently increasing their market share.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Rapid Influenza Diagnostic Tests (RIDT) Market - By Product
1.3.2 Rapid Influenza Diagnostic Tests (RIDT) Market - By Patient
1.3.3 Rapid Influenza Diagnostic Tests (RIDT) Market - By End User
1.3.4 Rapid Influenza Diagnostic Tests (RIDT) Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET - GLOBAL MARKET ANALYSIS
6.1. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) - GLOBAL MARKET OVERVIEW
6.2. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. RIDT FOR INFLUENZA A
7.3.1. Overview
7.3.2. RIDT for Influenza A Market Forecast and Analysis
7.4. RIDT FOR INFLUENZA B
7.4.1. Overview
7.4.2. RIDT for Influenza B Market Forecast and Analysis
8. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET - REVENUE AND FORECASTS TO 2028 - PATIENT
8.1. OVERVIEW
8.2. PATIENT MARKET FORECASTS AND ANALYSIS
8.3. PEDIATRIC
8.3.1. Overview
8.3.2. Pediatric Market Forecast and Analysis
8.4. ADULT
8.4.1. Overview
8.4.2. Adult Market Forecast and Analysis
9. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. DIAGNOSTICS CENTERS
9.4.1. Overview
9.4.2. Diagnostics Centers Market Forecast and Analysis
9.5. RESEARCH LABORATORIES
9.5.1. Overview
9.5.2. Research Laboratories Market Forecast and Analysis
10. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Rapid Influenza Diagnostic Tests (RIDT) Market Overview
10.1.2 North America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis
10.1.3 North America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Product
10.1.4 North America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Patient
10.1.5 North America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By End User
10.1.6 North America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Countries
10.1.6.1 United States Rapid Influenza Diagnostic Tests (RIDT) Market
10.1.6.1.1 United States Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.1.6.1.2 United States Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.1.6.1.3 United States Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.1.6.2 Canada Rapid Influenza Diagnostic Tests (RIDT) Market
10.1.6.2.1 Canada Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.1.6.2.2 Canada Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.1.6.2.3 Canada Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.1.6.3 Mexico Rapid Influenza Diagnostic Tests (RIDT) Market
10.1.6.3.1 Mexico Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.1.6.3.2 Mexico Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.1.6.3.3 Mexico Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.2. EUROPE
10.2.1 Europe Rapid Influenza Diagnostic Tests (RIDT) Market Overview
10.2.2 Europe Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis
10.2.3 Europe Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Product
10.2.4 Europe Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Patient
10.2.5 Europe Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By End User
10.2.6 Europe Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Rapid Influenza Diagnostic Tests (RIDT) Market
10.2.6.1.1 Germany Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.2.6.1.2 Germany Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.2.6.1.3 Germany Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.2.6.2 France Rapid Influenza Diagnostic Tests (RIDT) Market
10.2.6.2.1 France Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.2.6.2.2 France Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.2.6.2.3 France Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.2.6.3 Italy Rapid Influenza Diagnostic Tests (RIDT) Market
10.2.6.3.1 Italy Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.2.6.3.2 Italy Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.2.6.3.3 Italy Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.2.6.4 Spain Rapid Influenza Diagnostic Tests (RIDT) Market
10.2.6.4.1 Spain Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.2.6.4.2 Spain Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.2.6.4.3 Spain Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.2.6.5 United Kingdom Rapid Influenza Diagnostic Tests (RIDT) Market
10.2.6.5.1 United Kingdom Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.2.6.5.2 United Kingdom Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.2.6.5.3 United Kingdom Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.2.6.6 Rest of Europe Rapid Influenza Diagnostic Tests (RIDT) Market
10.2.6.6.1 Rest of Europe Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.2.6.6.2 Rest of Europe Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.2.6.6.3 Rest of Europe Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market Overview
10.3.2 Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis
10.3.3 Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Patient
10.3.5 Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Rapid Influenza Diagnostic Tests (RIDT) Market
10.3.6.1.1 Australia Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.3.6.1.2 Australia Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.3.6.1.3 Australia Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.3.6.2 China Rapid Influenza Diagnostic Tests (RIDT) Market
10.3.6.2.1 China Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.3.6.2.2 China Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.3.6.2.3 China Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.3.6.3 India Rapid Influenza Diagnostic Tests (RIDT) Market
10.3.6.3.1 India Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.3.6.3.2 India Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.3.6.3.3 India Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.3.6.4 Japan Rapid Influenza Diagnostic Tests (RIDT) Market
10.3.6.4.1 Japan Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.3.6.4.2 Japan Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.3.6.4.3 Japan Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.3.6.5 South Korea Rapid Influenza Diagnostic Tests (RIDT) Market
10.3.6.5.1 South Korea Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.3.6.5.2 South Korea Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.3.6.5.3 South Korea Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.3.6.6 Rest of Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market
10.3.6.6.1 Rest of Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.3.6.6.2 Rest of Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.3.6.6.3 Rest of Asia-Pacific Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Rapid Influenza Diagnostic Tests (RIDT) Market Overview
10.4.2 Middle East and Africa Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis
10.4.3 Middle East and Africa Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Patient
10.4.5 Middle East and Africa Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Rapid Influenza Diagnostic Tests (RIDT) Market
10.4.6.1.1 South Africa Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.4.6.1.2 South Africa Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.4.6.1.3 South Africa Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.4.6.2 Saudi Arabia Rapid Influenza Diagnostic Tests (RIDT) Market
10.4.6.2.1 Saudi Arabia Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.4.6.2.2 Saudi Arabia Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.4.6.2.3 Saudi Arabia Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.4.6.3 U.A.E Rapid Influenza Diagnostic Tests (RIDT) Market
10.4.6.3.1 U.A.E Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.4.6.3.2 U.A.E Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.4.6.3.3 U.A.E Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market Overview
10.5.2 South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis
10.5.3 South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Product
10.5.4 South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Patient
10.5.5 South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By End User
10.5.6 South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Rapid Influenza Diagnostic Tests (RIDT) Market
10.5.6.1.1 Brazil Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.5.6.1.2 Brazil Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.5.6.1.3 Brazil Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.5.6.2 Argentina Rapid Influenza Diagnostic Tests (RIDT) Market
10.5.6.2.1 Argentina Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.5.6.2.2 Argentina Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.5.6.2.3 Argentina Rapid Influenza Diagnostic Tests (RIDT) Market by End User
10.5.6.3 Rest of South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market
10.5.6.3.1 Rest of South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market by Product
10.5.6.3.2 Rest of South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market by Patient
10.5.6.3.3 Rest of South and Central America Rapid Influenza Diagnostic Tests (RIDT) Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. RAPID INFLUENZA DIAGNOSTIC TESTS (RIDT) MARKET, KEY COMPANY PROFILES
13.1. DIASORIN S.P.A
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BECTON, DICKINSON AND COMPANY
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. SA SCIENTIFIC
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CORISBIOCONCEP
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. MERIDIAN BIOSCIENCE INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. ABBOTT
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. ANALYTIK JENA
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ROCHE
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. QUIDEL CORPORATION
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. PRINCETON BIOMEDITECH CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. DiaSorin S.p.A
2. Becton Dickinson and Company
3. SA Scientific
4. CorisBioconcep
5. Meridian Bioscience Inc.
6. Abbott
7. Analytik Jena
8. Roche
9. Quidel Corporation
10. Princeton BioMeditech Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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