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LONDON , May 5, 2022 /PRNewswire/ -- The influenza diagnostic market is highly fragmented, with a large number of small players. The top ten competitors with influenza diagnostic market shares made up to 43.74% of the total market in 2020. Major players in the market are Abbott Laboratories, F. Hoffmann-La Roche Ltd, Becton, Dickinson and Company, Thermo Fisher Scientific Inc, Quidel Corp, Danaher Corporation (Cepheid), Hologic Inc, DiaSorin S.p.A, GenMark Diagnostics, Inc and bioMerieux SA.

The global influenza diagnostics market size is expected to grow from $1.75 billion in 2021 to $1.89 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The change in the influenza diagnostic market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $2.53 billion in 2026 at a CAGR of 7.6%.

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Influenza Diagnostics Market Player Strategies

Mergers and acquisitions are a trend that is expected to impact the influenza diagnostics market positively. Mergers and acquisitions help the companies mobilize resources and get access to various products that are already developed and in research. This helps improve the overall product portfolio and helps get access to broader geographical markets. The diagnostic testing kit manufacturing companies are establishing strategic partnerships with multinational companies for the commercialization and marketing of their products due to the presence of a wide customer base and network. For instance, in May 2021 , Roche, a Swiss multinational healthcare company, announced the acquisition of GenMark Diagnostics for $1.8 billion . Roche through the acquisition intended to use GenMark's expertise in syndromic testing to increase its portfolio of molecular diagnostics. Roche's portfolio of COVID-19 diagnostic solutions would be complemented by GenMark's offerings of its Respiratory Pathogen Panel to identify respiratory infections including SARS-CoV-2 and influenza.

Influenza Diagnostic Market Report Coverage

The influenza diagnostics market is segmented by test type into traditional diagnostic tests and molecular diagnostic tests. The traditional diagnostic tests market was the largest segment of the influenza diagnostic market segmented by test type, accounting for 58.9% of the total in 2021 and molecular diagnostic tests segment is expected to be the fastest growing segment going forward, at a CAGR of 7.8% during 2021-2026.

The traditional diagnostic tests market is sub-segmented by test type into the rapid influenza diagnostic test market, viral culture, DFA, serological assays, other traditional diagnostic tests, while the molecular diagnostic tests market is sub-segmented by test type into reverse transcription polymerase chain reaction (RT-PCR), isothermal nucleic acid amplification tests (INAAT), loop mediated isothermal based amplification assays, transcription mediated isothermal based amplification assays, other isothermal nucleic acid amplification tests, and others.

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