Canada Flu Diagnostic And Treatment Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Flu (Type A, Type B), By Offering (Diagnostics (Rapid Influenza Diagnostic Test, Rapid Molecular Assay, Others), Therapeutics), By Age Group (0-14 Years, 15-64 Years, >=65 Years), And By End-User (Hospital Laboratory, Outpatient Clinic, Reference Laboratory) - Forecasts From 2022 To 2027

The Canada flu diagnostic and treatment market is projected to grow at a CAGR of 8.68% throughout the forecast period to reach US$1,231.897 million in 2027, from US$688.069 million in 2020.

The rising number of hospitalizations due to influenza is significantly driving the demand for flu diagnostic and treatment solutions in the country. Influenza, along with pneumonia, is the seventh leading cause of death in Canada and the leading cause of death amongst vaccine-preventable diseases. According to government statistics, influenza activity continued to rise from December 15, 2019, to January 4, 2020, in the country. According to the Public Health Agency of Canada, in week 24 of 2022, 596 laboratory detections were reported of Influenza.

The Canada flu diagnostic and treatment market is expected to grow due to prevailing chronic diseases, the rising demand for OTC, low medication prices, improved government measures, and others.

The rising elderly population is also contributing to the market growth of the flu diagnostic and treatment market. According to the data provided by the Government of Canada, from August 2021 to June 2022, a total of 699 influenza-associated hospitalization cases have been reported. The higher number of influenza cases is more in elderly people because they are more susceptible to catching the flu due to a weak immune system. Moreover, the vaccination rate among this population group is also declining which is further contributing to the rising incidence of flu in Canada, thereby promoting the market growth of flu diagnosis and treatment in the country during the forecast period. Another reason for declining, vaccination rates in Canada is that many flu vaccines are not covered under the healthcare program in many Canadian provinces. Thus, the unaffordability of the flu vaccine is leading to rising cases of influenza, thus, positively impacting the market growth.

Product offering

• Abbott’s ID NOWTM INFLUENZA A&B 2 molecular test is available in Argentina, it delivers the results in 13 minutes or less by means of unique ID NOW platforms. Thus, making the test much faster and more accurate than other influenza tests. It detects up to 42% more true positives than RADTs.
• F. Hoffmann-La Roche Ltd. provides the Cobas® SARS-CoV- 2 and Influenza A & B tests. The company claims that the test kit can differentiate between COVID-19 and Flu. The test only takes 20 mins with minimum cross-contamination and risk of exposure during testing with the closed-system design.
• Altona diagnostics offers RealStar®Influenza Screen and type RT-PCR kit 4.0. It is a real-time PCR technology. The kit offers detection for three respiratory pathogens, such as RSV, Influenza, and COVID-19.

COVID-19 Insights

Since the healthcare sector was overburdened with COVID-19 patients, the diagnostics and therapeutics for influenza cases declined to affect the market potential in 2020. During the COVID-19 pandemic it was observed that, due to various health and safety measures, the transmission of influenza flu had reduced. The annual FluWatch report from the Canadian government states, that the decreased activity seen in Canada is parallel with the implementation of non-pharmaceutical public health measures to mitigate the spread of COVID-19. Although, in the post-pandemic years the ease in public health restrictions led to a surge in influenza. With the rising number of flu cases, it is expected that the Canadian flu diagnostic and treatment market will grow during the forecast period.

Segmentation

• By Type of Flu
  • Type A
  • Type B
• By Offering
  • Diagnostics
    • Rapid Influenza Diagnostic Test
    • Rapid Molecular Assay
    • Others
  • Therapeutics
• By Age Group
  • 0-14 Years
  • 15-64 Years
  • >=65 Years
• By End-User
  • Hospital Laboratory
  • Outpatient Clinic
  • Reference Laboratory