The North American flu diagnostic and treatment market is projected to grow at a CAGR of 13.66% throughout the forecast. The market was valued at US$13,844.604 million in 2020 and is expected to reach a value of US$33,930.568 million by 2027. The growing incidence of influenza in countries like the U.S., Canada, and Mexico is significantly bolstering the demand for flu diagnostic and treatment solutions in the North American region. The rising number of hospitalizations due to influenza-like illness (ILI) is driving the demand for flu treatment solutions, which, in turn, is fueling the market growth of flu diagnostics and treatment across this region. According to the CDC (Center for Disease Control and Prevention), in the U.S. and Canada, influenza, together with pneumonia, is the eighth and seventh leading cause, of death, respectively, while it is the leading cause of death amongst vaccine-preventable diseases in both countries. A smaller number of people in North American countries are taking flu shots, which is also a driving factor behind the growing flu diagnostic and treatment market in North America.
The growing geriatric population in North American countries such as the U.S., Canada, and Mexico is also spurring the demand for flu diagnostic kits and treatment solutions across the region. According to the U.S. Population Reference Bureau Report 2016, the number of Americans aged 65 and above is projected to more than double from 46 million in 2016 to 98 million by 2060. Because elderly people are more susceptible to the flu due to a weakened immune system, the number of hospitalizations will rise as more people reach the age of 65 or older, propelling the market growth of flu diagnostics and treatment in North America over the next five years. Moreover, the increasing number of people suffering from chronic diseases in these countries will also boost the demand for flu diagnosis and treatment markets across the region.
The presence of modern healthcare infrastructure is also contributing to the market growth of the flu diagnostic and treatment market in the region. This growth is further supported by the presence of major market players including Abbott, Thermo Fisher Scientific, Pfizer, and Quidel Corporation in the region. Continuous investments in R&D in order to develop new diagnostic kits or any flu treatment medication will also spur the overall market growth of the flu diagnostic and treatment market in North America during the forecast period. For example, in October 2018, Abbott got clearance from the U.S. Food and Drug Administration (FDA) for its next-generation Influenza A & B2 and Strep A2 molecular assays for point-of-care testing.
Growing demand for OTC (over-the-counter) medicines to treat symptoms of flu is also leading to the market growth of the flu diagnostic and treatment market across North American countries. People's increasing willingness to self-medicate for common flu symptoms is driving up demand for OTC drugs. Moreover, these medicines are cheaper than branded/patented flu medications, which is also a contributing factor to the increasing demand for OTC flu medicines, thereby driving the flu diagnostic and treatment market growth in the region.
The North American flu diagnostic and treatment market has been segmented on the basis of the type of flu, offering, age group, end-user, and country. On the basis of the type of flu, the North American flu diagnostic and treatment market has been classified into type A and type B. By offering, the market has been segmented into diagnostics and therapeutics. The North American flu diagnostic and treatment market has also been segmented by age group as 0-14 years, 15-64 years, and >=65 years. By end-user, the segmentation of the North American flu diagnostic and treatment market has been done on the basis of hospital laboratories, outpatient clinics, and reference laboratories. By country, the market segmentation has been done as the U.S., Canada, and Mexico. The U.S. accounted for the major market share in 2019 and will maintain its dominance till the end of 2025 by growing at the highest CAGR during the forecast period.
Key Development in the Market
COVID-19 Insights:
COVID-19 had a positive impact on the North America Flu and diagnostic market. The use of influenza diagnostic kits to precisely diagnose the source of the infection has surged owing to the similarity in the symptoms of COVID-19, and influenza has many of the same symptoms. Additionally, throughout the epidemic, market demand surged due to the increased government initiatives to stop the seasonal flu from spreading. For instance, according to financials released by GSK, Fluarix/FluLaval sales increased by 35% AER and 37% CER, principally due to strong government recommendations that flu vaccination is prioritized during COVID-19 pandemic conditions and the US's decision to reverse a prior year returns provision.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2020 | US$13,844.604 million |
| Market Size Value in 2027 | US$33,930.568 million |
| Growth Rate | CAGR of 13.66% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Type of Flu, Offering, Age Group, End-User, And Country |
| Regions Covered | U.S., Canada, Mexico |
| Companies Covered | Thermo Fisher Scientific Inc., Abbott, Quidel Corporation, Pfizer Inc., F. Hoffmann-La Roche Ltd, BD, 3M |
| Customization Scope | Free report customization with purchase |
Key Market Segmentation