Italy Influenza Diagnostic Market Analysis

Italy Influenza Diagnostic Market Executive Summary

Italy Influenza Diagnostic Market is valued at around $26.4 Bn in 2022 and is projected to reach $33.4 Bn by 2030, exhibiting a CAGR of 3% during the forecast period 2023-2030.

Influenza Diagnostic Market refers to the market for tests and methods used to diagnose Influenza disease, which is a highly infectious respiratory disease with symptoms of fever, cough, sore throat, runny nose, body aches, headache, and fatigue. The market includes different types of tests and devices which are analyzed for the diagnosis of different strains of the Influenza virus.

The prevalence of Influenza is increasing globally, according to WHO around 304 Mn to 656 Mn people suffer from influenza. WHO estimates that around 4,00,000 to 9,00,000 people died from influenza in 2022 and the highest burden of influenza is in adults over 65 years of age.

There are many global players in the Influenza Diagnostic market but 3M; Abbott Laboratories, Inc.; Becton, Dickinson, and Company (BD); Meridian Bioscience, Inc.; Quidel Corporation; F. Hoffmann-LA Roche AG; SA Scientific; Sekisui Diagnostics; Thermo Fisher Scientific, Inc.; and Hologic, Inc. are some of the major players in Influenza Diagnostic Market.

Influenza is diagnosed using a variety of diagnostic procedures and tests, including rapid antigen tests, molecular assays, viral cultures, serological tests, next-generation sequencing (NGS), and rapid molecular assay testing. All these techniques are used according to requirements and availability of the resources for the diagnosis of Influenza.

The increasing prevalence of Influenza, aging global population and increasing co-morbidities, technological advancements, and increasing demand for Point-of-Care testing is projected to fuel the Influenza diagnostic market in coming years. The market still has many difficulties like complex regulatory procedures, limited reimbursement coverage, high cost of advanced diagnostic procedures, and lack of accuracy of rapid antigen tests.

Market Dynamics

Drivers of Italy Influenza Diagnostics Market:

Growing Prevalence of Influenza: Influenza is a highly contagious respiratory disease and its prevalence is also higher which is growing each year. According to WHO in the year 2022, There were around 304 Mn to 656 Mn cases of influenza globally. Increasing prevalence is leading to substantial demand for accurate and timely diagnosis of influenza.

Increasing Geriatric Population and Co-Morbidities: With the increasing age of individuals their immunity decreases and their chances of getting infected with the influenza virus also increase. The highest burden of influenza is in adults aged over 65. People with chronic illnesses like cardiovascular disease, diabetes mellitus, and lung disorders are more prone to contracting influenza infection. All these factors influence the diagnostic market of Influenza.

Technological Advancements in Diagnostic Tests: There have been advancements in tests like rapid antigen tests, molecular assays, and PCR-based tests which have improved the efficiency and accuracy of diagnosis of Influenza.

Government measures and support: Governments throughout the world are supporting research to create efficient diagnostic tools and techniques and taking measures to increase awareness of Influenza, which is also propelling the growth of the Influenza Diagnostics Market.

Increasing Demand for Point-of-Care Testing: It helps in rapid and convenient diagnosis which leads to immediate treatment decisions. Demand for Point-of-Care Test kits is increasing in primary health care setups, emergency departments, and rural areas which provides quick results and helps in reducing transmission of disease to larger communities. This demand for rapid testing is driving the diagnostic market for Influenza.

Restraints in Influenza Diagnostics Market:

Seasonal Nature of Influenza: Influenza is a seasonal disease and has a relative duration, with outbreaks occurring during specific time periods. After that duration incidence of Influenza is very low which can fluctuate the growth of the Influenza Diagnostic Market.

Limited Accuracy of Rapid Antigen Test: It gives quick results but in terms of accuracy it is very low compared to molecular assay tests like PCR. Sensitivity and specificity also as it give false-negative and false-positive results. It impacts the reliability of tests leading to misdiagnosis or delayed diagnosis of influenza.

Cost Constraints and Reimbursements Issues: Some tests like advanced molecular assays are more costly compared to rapid antigen tests, which can limit the adoption of these diagnostic tests. Reimbursement policies for the diagnosis of Influenza have very limited coverage which also hampers the growth of the diagnostics market for influenza.

Regulatory Challenges: For the development and commercialization of diagnostic tests, regulatory processes are complex and time taking. Certain standards for safety, efficacy, and quality assurance are very stringent and it requires a lot of time and money to complete all the procedures. All these factors can hamper the growth of the Influenza Diagnostic Market.