Influenza, commonly known as flu, is an infectious disease caused by the influenza virus. Three varieties of this virus affect people: type A, type B, and type C. Influenza spreads through infectious respiratory secretions caused by aerosol formation due to direct contact with an infected person. This virus can cause seasonal epidemics with high levels of morbidity and mortality. According to WHO, these epidemics were estimated to result in about 3 to 5 million annual cases of severe illness, and about 250,000 to 500,000 annual deaths worldwide. In 2009, a pandemic of influenza A, which spread quickly to many countries, gained the attention of scientists to focus on better diagnosis of the virus.
Initiatives by government bodies such as WHO and CDC to control and prevent influenza are a factor driving the influenza diagnostics market. Furthermore, the growing amount of research and development, technological advancements in diagnostic tests, and rising demand for influenza diagnosis are likely to propel this market during the forecast period. However the increasing prices of kits and reagents may pose a hindrance.
The influenza diagnostics market has been segmented by test type, end-users, and geography. In terms of test type, the divisions include rapid influenza diagnostic tests (RIDT), RT-PCR, cell culture, and others, including serology and immunofluorescence tests. The market share of RIDT has increased considerably due to its ability to provide quick results and recent approvals by the FDA. Based on end-users, the market is split into the following categories: hospitals, research centers, diagnostic laboratories, and point of care testing centers. Currently, hospitals hold a major share in the influenza diagnostics market due to regular epidemics, their easy accessibility, and a generally higher preference for this establishment; however, point of care testing is also likely to develop at a significant rate during the forecast period owing to the ease of usage that the medium offers.
Geographically, the influenza diagnostics market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America constituted a substantial share in the market due to factors such as initiatives by government bodies to control the disease rates, technological advancements, health awareness among population, and research. The market in Asia Pacific is projected to expand rapidly due to its higher disease burden, higher rate of population, and rising initiatives to control the disease rate. For example, the CDC funds non research-related bilateral influenza cooperative agreements in South-East Asia aimed at routine diagnosis of seasonal flu and pandemic influenza.
Some of the key players in the influenza diagnostics market include Becton Dickinson and Company, Roche Diagnostics, Alere Scarborough, Inc, Princeton BioMedtech corp, Sekisui Diagnostics, SA Scientific, Inc, Quidel Corporation, Meridian Bioscience, Inc, and Thermo Fisher Scientific. These companies focus on introduction of cost-effective products with the ability to deliver quick results. For example, the ‘Alere i’ test to diagnose types A and B of influenza within 15 minutes was cleared for marketing by the FDA in June 2014.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.