What’s driving the global influenza market?

One key growth factor is the rising prevalence of the disease.

The growing demand for rapid diagnostics and molecular testing solutions is driving the global influenza market to reach $12.8b by 2029 at a compound annual growth rate of 7.2%, according to a BCC Research LLC report.

The demand is attributed to a rise in influenza cases worldwide.

“New rapid tests and molecular tools help detect flu viruses quickly and accurately,” the report said. “This allows doctors to treat patients sooner and helps prevent the spread of the virus, boosting demand for diagnostics.”

Moreover, governments are funding research and expediting approvals for new flu treatments and tests, further driving market growth.

By product, the vaccines segment will lead throughout the forecast period.