A latest report released by QY Research in the domain of pharma and healthcare, titled “Global Rapid Influenza Diagnostic Test (RIDT) Market Research Report 2019,” provides detailed analysis of the market in terms of emerging market trends and company revenues. The report also consists of up to date analysis and forecasts for several market and regional segments.
The analysts at the QY Research expect that the global rapid influenza diagnostic test (RIDT) market is predicted to reach US$1751.83 mn by 2025 from US$973.13 mn in 2018. The market is estimated to register a CAGR of 8.67% between 2019 and 2025.
Global Rapid Influenza Diagnostic Test (RIDT) Market: Drivers and Restraints
The global market for rapid influenza diagnostic test (RIDT) will witness significant growth due to growing geriatric population that is susceptible to a wide range of chronic diseases. The market will also be driven by increasing government initiatives to counter influenza and rising investments in detection of chronic diseases such as heart and blood disorders and diabetes. Emergence of advanced technological influenced diagnostic tests is also projected to have a positive influence on the global market over the forecast period.
However, the growing prices of reagents and kits may hamper the growth of the market during the forecast period.
Global Rapid Influenza Diagnostic Test (RIDT) Market: Forecast by Segments
The RIDT market is segmented into applications and product type. The product type segment includes conventional RIDT and digital RIDTs. The application segment consists of POCT, hospitals, and others. The hospital segment is likely to grab the largest market share due to easy accessibility of these kits for testing and epidemic management.
Global Rapid Influenza Diagnostic Test (RIDT) Market: Regional Analysis
North America will grab significant market share of RIDT because of the factors such as government initiatives to control diseases rates, higher awareness among consumers, and technological advancements. Asia Pacific is anticipated to expand rapidly due to growing research and development activities and growing elderly population.
Global Rapid Influenza Diagnostic Test (RIDT) Market: Key Players
Some of the major players operating in the global RIDT market are DiaSorin (Focus Diagnostics), BD, SA Scientific, Abbot (Alere), Response Biomedical, Quidel, Sekisui Diagnostics, Roche, BioMerieux, Thermo Fisher Scientific, Princeton BioMeditech Corporation, Meridian Bioscience, and Analytik Jena.
Global Rapid Influenza Diagnostic Test (RIDT) Market: Competitive Landscape
Becton, Dickinson, and Company (BD), the U.S.-based global medical technology company has started a new partnership with the United States Government through the United States Agency for International Development (USAID) on June 2019 at Jakarta, to support Indonesia in removing tuberculosis (TB) through their National Tuberculosis Program. This partnership intends to bring advanced capabilities and expertise in phenotypic testing to a population that requires it most. Companies are adopting the acquisitions and collaboration strategies to push businesses to attain higher profits.