The Asia-Pacific (APAC) flu diagnostic and treatment market is projected to grow at a CAGR of 15.29% throughout the forecast. The market was valued at US$10,882.847 million in the year 2020 and is expected to reach a size of US$29,462.135 million by 2027.
The rising outbreak of flu in APAC countries is significantly propelling the market growth of flu diagnostics and treatments in this region. Influenza-like illness (ILI) is the fourth leading cause of death in the Philippines. The growing population base in countries like China, India, and South Korea is supplementing the rising cases of influenza across the Asia Pacific (APAC) region with insufficient flu vaccines for the growing population.
The growing geriatric population in the region is anticipated to drive market growth in the region.
Another major factor that is boosting the APAC flu diagnostic and treatment market growth is the ageing population in countries like China, Japan, and South Korea. Japan has the world's oldest population. According to the World Bank data, the country's population aged 65 and above in 2008 was 27,195,327, which rose to 34,892,133 in 2018. Similarly, in China, the percentage of the older population grew from 7.932 in 2008 to 10.921 in 2018. Moreover, the rising prevalence of chronic diseases in countries like India, Australia, and Indonesia is also leading to a rising number of patients suffering from flu, thus positively impacting the flu diagnostic and treatment market growth in the region. Declining vaccination rates in Asia-Pacific countries are also driving the region's growing demand for flu diagnostic and treatment solutions. This falling flu vaccination rate is due to recent scandals related to improper vaccines, which have resulted in a loss of faith among people in flu vaccines preventing influenza. As such, without proper vaccination, more people are getting sick due to the flu, thus augmenting the demand for flu diagnostic kits and treatment solutions across Asia Pacific countries.
The growing investments by the government and key market players are further anticipated to propel the market growth
Rising investments, both public and private, in developing advanced healthcare infrastructure are also contributing to the growing market for flu diagnostic and treatment in APAC countries. Growing government efforts to diagnose people as quickly as possible while preventing the spread of deadly flu viruses in the community by way of isolating infected people is contributing to the market growth of the flu diagnostic and treatment market in APAC. Increasing investments in the pharmaceutical sector across different APAC countries will further continue to drive the APAC flu diagnostic and treatment market growth during the next five years. Easy availability and a rising number of people preferring self-medication to treat flu-like symptoms are also spurring the market growth of the flu diagnostic and treatment market in the Asia Pacific. Since prescribed medicines are generally costlier than OTC drugs, people in countries like India and the Philippines generally opt for basic OTC medications to treat the flu.
The Asia-Pacific (APAC) 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 Asia Pacific (APAC) flu diagnostic and treatment market has been classified into A and type B. Type A flu accounts for a significant market share till the end of the forecast period. By offering, the market has been segmented into diagnostics and therapeutics. The Asia Pacific (APAC) flu diagnostic and treatment market has also been segmented by age group as 0-14 years, 15-64 years, and >=65 years. The segmentation of the Asia Pacific (APAC) flu diagnostic and treatment market has been done on the basis of the hospital laboratory, outpatient clinic, and reference laboratory. By country, the market segmentation has been done as China, Japan, South Korea, Australia, India, Thailand, Philippines, Indonesia, and Vietnam.
Key Developments in the Market
COVID-19 Insights
COVID-19 had a positive impact on the Asia Pacific flu diagnostic and treatment market. The pandemic had proved to be a significant challenge for the healthcare staff in tandem with COVID-19. Owing to the close resemblance in the symptoms of the two infections and their rapid spread, healthcare staff had to perform both diagnostic tests for both viruses to offer accurate treatment, thus increasing the demand for the influenza diagnostic and treatment market. China, as the epicentre of the virus, witnessed surging demand in the market. Exploiting the growing demand for effective diagnostic tests for the virus, several pharma giants developed a single diagnostic test for both viruses to simplify the detection process. Such factors added impetus to the market growth.
| 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$10,882.847 million |
| Market Size Value in 2027 | US$29,462.135 million |
| Growth Rate | CAGR of 15.29% 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 | China, Japan, South Korea, India, Thailand, Indonesia, Taiwan, Others |
| Companies Covered | Thermo Fisher Scientific Inc.[1], Abbott, Quidel Corporation, F. Hoffmann-La Roche Ltd, BD, 3M |
| Customization Scope | Free report customization with purchase |
Key Market Segmentation