Sweden 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 Swedish flu diagnostic and treatment market is projected to grow at a CAGR of 8.03% throughout the forecast period. The market is estimated to reach a market value of US$590.347 million by 2027, from US$343.795 million in 2020.

The flu diagnostic and treatment market in Sweden is primarily driven by the high intensity of seasonal influenza in the country coupled with the presence of a well-established healthcare system in the country. The responsibility of healthcare in the country lies with the municipal governments and county councils.

Decentralized healthcare system to offer market lucrativeness

The healthcare system of the country is decentralized. Furthermore, the highly tax-funded healthcare system of the country also ensures equal access to healthcare services by everyone. This, in turn, is further increasing the demand for costly treatments and services, which is one of the key factors positively impacting the market growth during the next five years. Similarly, the growth in the prevalence of flu throughout the country is one of the prime factors that is projected to bolster the market growth of flu diagnostics and treatment in Sweden during the next five years.

However, the mild impact of the flu is further expected to slow down the market’s growth moderately in the coming years. On the other hand, the continuous incidence of seasonal flu is expected to supplement the flu diagnostic and treatment market growth in the country during the forecast period and beyond.

Government focus on patient safety and quality healthcare

Furthermore, the focus of the government of the country is to provide patient safety and quality healthcare. In 2011, the government of the country enacted its new patient safety law, which is primarily focused on providing new opportunities for influencing the healthcare of the country, which is also anticipated to positively impact the market growth during the coming years.

The Swedish flu diagnostic and treatment market has been segmented on the basis of the type of flu, offering, age group, and end-user. On the basis of the type of flu, the market has been classified into type A and type B. The type B segment is projected to surge at a decent CAGR due to the rising number of type B flu cases in the country. 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 >=65-year age group is projected to hold a notable market share owing to the fact that the ageing population in the country is comparatively larger than other population groups. By the end-user, the segmentation has been done on the basis of the hospital laboratory, outpatient clinic, and reference laboratory. The hospital laboratory is expected to hold a significant share of the market due to its higher patient capacity and the ability to provide quality treatments.

Key Developments

• November 2020- Following outbreaks elsewhere in Europe, Sweden has increased its estimate of the danger of bird flu to elevated from low, according to the Swedish Board of Agriculture.
• August 2021- According to the UppSense Team Results Document by Uppsala University, UppSense, a diverse group of individuals from the university have developed a robust biosensor against Influenza A, which is the most common strain of Influenza. As per the report, out of 55,000 tests conducted in Swedish laboratories on an annual basis, the confirmed laboratory positive results amount to only 13%. Also, the report stated that with an estimated initial investment of EUR 200,000 Uppsense is assumed to become profitable at the beginning of 2027 but will only get out of debt sometime in 2028.

Impact of the COVID-19 pandemic

The COVID-19 pandemic has had a substantial impact on the market for influenza diagnostics; unfavourable changes in rules and standards, the closure of factories owing to lockdowns, and interruptions in supply chains have all had a negative impact on market growth. The availability of influenza diagnostics products to end customers has also been affected by regional operations in most businesses, insufficient funding for academic and research institutions, and difficulties in delivering necessary or post-sale services because of lockdowns. COVID-19 has a similar illness presentation to the flu in that both viruses result in respiratory problems. Furthermore, both can be spread through touch, droplets, and fomites. Due to early misdiagnoses of COVID-19 patients with flu, its demand increased in late 2019. However, it soon became clear that COVID-19 & flu are very distinct in terms of characteristics like immunity, age group, transmission rate, immunization, & a few others. To combat the COVID-19 pandemic, a comprehensive strategy for diagnosis and treatment has become essential. As a result, the demand for Indian flu diagnostic and treatment market kits was adjusted after realizing how different these two diseases were from one another.

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