Influenza Diagnostics Market Overview:
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The market research report from TMR Research discusses market dynamics, geographical outlook, and competitive scenario of the Influenza Diagnostics market at length for the forecast period. Further, it throws light on opportunities that are likely to come to the fore in the Influenza Diagnostics market over the assessment period. The analysis of the Influenza Diagnostics market thus provided is useful for market stakeholders to gauge scope of expansion and make investment plan for the forecast period.
Further, the report delves into key segments that divides the Influenza Diagnostics market based on several criteria. Market share estimations of key segments of the Influenza Diagnostics market over the forecast period is also included in this report.
The research report deep dives into the competitive landscape of the Influenza Diagnostics market. The degree of competition in the market and growth strategies employed by prominent players in the Influenza Diagnostics market are discussed at length in this report.
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The increasing incidence of various forms of influenza across the globe, growing investments in research and development, rising pediatric focus, and encouraging policies of the government are driving the global market for influenza diagnostics. As faster and more accurate diagnostic tests are increasingly sought after, a number of market players have undertaken the development of more efficient tests that give quicker results.
Conversely, stringent regulatory frameworks, delays in the approval process of new tests, and limited infrastructure (in developing nations in particular), might emerge as the key deterrents of the global market for influenza diagnostics. Nevertheless, technological advancement in the domain of influenza diagnostics can offer extensive opportunities for growth.
Global Influenza Diagnostics Market: Market Potential
As the virulent spread of influenza across numerous regions of the world has created concern across countries. Considering the spread of influenza governments, pharmaceutical companies, and medical organizations are striving to introduce effective diagnostics and medications. As of March 2017, 16 from North Carolina, 3 in Delaware, 7 in San Diego died of influenza. Almost 4,000 residents of Arizona suffered from influenza during February 2017. Likewise, in Malaysian state Perak around 273 school children were found to suffer from influenza-like illness during the same month.
Consequently, in March 2017, GlaxoSmithKline plc, a leading market player, announced its submission of an application to the FDA for obtaining approval to expand its label of an influenza vaccine, Fluarix Quadrivalent, for children aged six months and older. Presently, the vaccine is administered to patients aged three and above. It is an active immunization against type A and type B influenza viruses.
The fifth wave of H7N9 in China resulted in 1,223 cases, with 380 fatalities, according to the WHO. Consequently, growing concerns pertaining to the avian influenza led to the announcement of the development of two novel pandemic vaccines by Protein Sciences Corporation. The announcement was made following a request for the same by the Biomedical Advanced Research and Development Authority (BARDA), a division of the U.S. Department of Health and Human Services. The company boasts owning the single FDA approved technology for fast production of influenza vaccines.
Global Influenza Diagnostics Market: Regional Outlook
Based on geography, the global market for influenza diagnostics can be segmented into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. As countries such as Australia, the U.S., Greece, China, Spain, India, and Malaysia have been witnessing outbreaks of influenza, the demand from these regions will mount up to a great degree.
The influenza diagnostics market in Asia Pacific is slated for significant growth over the forecast period, propelled by the increasing healthcare spending, favorable government initiatives, greater demand for cutting-edge diagnostics technologies, and expanding disposable incomes of the middle class populace in the region.
Global Influenza Diagnostics Market: Competitive Analysis
Some of the major companies operating in the global market for influenza diagnostics are Becton, Dickinson and Company, Luminex Corporation, Thermo Fisher Scientific, Alere Inc., GlaxoSmithKline plc, DiaSorin, Roche Diagnostics, SA Scientific, and Quidel Corporation.
Product development is a key business strategy of market players. For instance, Becton, Dickinson and Company recently announced FDA approval for its new digital immunoassay, BD Veritor™ System Flu A+B, which is able to rapidly detect influenza.
The study presents reliable qualitative and quantitative insights into Influenza Diagnostics Market are:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand chain of the market
- Market valuation (revenue and/or volume)
- Key trends/opportunities/challenges
- Forces defining present and estimated future state of the competitive landscape
- Technological developments
- Value chain and stakeholder analysis
The Influenza Diagnostics Market regional analysis covers:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
The section also profiles key players for business overview, financial standing, and SWOTs. This provides insights of innovations and scope of collaborations and partnerships between key players in the years ahead. This analysis further helps to gauge competitive standing of key players and throws light on their changing competitive ranking in the Influenza Diagnostics market over the forecast period.
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Key Questions Answered in the Influenza Diagnostics Report
- What is the estimated compound annual growth rate of the Influenza Diagnostics market over the forecast period?
- What are value and volume projections in the Influenza Diagnostics market over the assessment period?
- Which product segment is likely to account for leading revenue share in the Influenza Diagnostics market over the forecast period?
- Which region is anticipated to contribute maximum revenue to the Influenza Diagnostics market over the assessment period?
- What are key growth strategies adopted by prominent players for competitive advantage in the Influenza Diagnostics market?
- What are some major developments observed in the Influenza Diagnostics market over the recent past?