The South African flu diagnostic and treatment market is projected to grow at a CAGR of 6.31% throughout the forecast period to reach a market value of US$283.238 million by 2027. The market was valued at US$184.504 million in 2020.
The flu diagnostic and treatment market in South Africa is poised to grow at a low CAGR over the forecast period as there is an intense outbreak of seasonal influenza throughout the country. Also, the country has a significant population density, which restricts everyone's access to advanced healthcare services and treatments. This is one of the prime factors projected to inhibit the market growth in the country during the next five years.
Underfunded and staff deficient healthcare sector
In addition, the country's healthcare sector is still underfunded and understaffed, due to which a major population of the country gets down with numerous diseases every year in the country. Furthermore, the country's healthcare sector remains significantly underfunded and understaffed because many of the country's population suffers from various diseases yearly.
Government participation in technological advancements
Furthermore, the Department of Health states that nearly 11,000 deaths occur yearly due to influenza. The government is thus focusing on implementing advanced technologies, hiring more technical and operations staff, and establishing more hospitals and other healthcare institutions in the country in the coming years. A factor these governments are keeping in focus on is increasing it is to increase focus to improve on improving the healthcare infrastructure of the country to boost the nation's population with high-quality medical care and services provided by the healthcare sector.
Advanced private healthcare system and increasing healthcare expenditure
All these factors are collectively projected to bolster the flu and diagnostic treatment market in South Africa during the forecast period and beyond. However, the availability of an advanced private health system somehow moderately mitigates the intensity of diseases in the country. Furthermore, a significant increase in the country's healthcare expenditure is also projected to propel the growth opportunities for the market to surge throughout the forecast period and beyond. According to the data provided by the Bank Group, the Healthcare expenditure (% of GDP) in South Africa increased to 8.11% in 2016 from 6.431% in 2007.
The South African flu diagnostic and treatment market has been segmented based on the type of flu, offering, age group, and end-user. Based on the type of flu, the market has been classified into type A and type B. By offering, the market has been segmented into diagnostics and therapeutics. The market has been divided into three age groups: 0-14 years, 15-64 years, and >=65 years. The market has been segmented by age based on 0-14 years, 15-64 years, and >=65 years. By the end-user, the segmentation has been done based on the hospital laboratory, outpatient clinic, and reference laboratory.
Key Developments
Impact of the COVID-19 pandemic
Due to lockdowns that forced the closure of manufacturing facilities, negative changes in rules and guidelines, and interruptions in supply chains around the world, COVID-19 has had a substantial influence on the market for flu or influenza diagnostics. Additionally, there are a number of parallels between COVID-19 and influenza, including the fact that both viruses are contagious and exhibit respiratory sickness symptoms. For patient safety reasons, it is essential to identify influenza as well because COVID-19 affects the patient's respiratory system. Due to the epidemic, there are now more people being tested for flu or influenza.
Segmentation