NEWARK, Del, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The global Nucleic Acid Testing Market is expected to reach US$ 3.7 billion by 2023. The market is expected to reach US$ 7.2 billion by 2033, growing at a strong 6.8% CAGR.
Rising prevalence of infectious diseases, cancers, and other diseases, advancement in healthcare infrastructure and increased awareness of nucleic acid testing methods for screening pathogenic bacteria and viruses in patients' blood, tissue, and urine are major factors driving nucleic acid amplification testing market growth.
Increasing R&D activity in the area to innovate diagnostic processes is estimated to boost nucleic acid testing market growth over the forecast period.
To fulfil the increased demand for quick testing and nucleic acid point-of-care testing, molecular nucleic acid testing, market participants have developed new product offerings such as isothermal nucleic acid amplification tests.
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The Stumbling Blocks of the Market
The necessity for dedicated infrastructure, a shortage of qualified technical experience, and high sensitivity are all issues that could stymie expansion in the global nucleic acid testing market.
The high costs, a shortage of experienced specialists, and safety concerns are projected to stymie market expansion over the projection period.
Regional Outlook
North America and Europe are the two major nucleic acid amplification testing market at the moment, and they are likely to account for a significant percentage of the market during the forecast period as well.
North America
Due to the high prevalence of chronic diseases and the presence of an established research and healthcare infrastructure, North America accounted for the greatest market share. Similarly, the increased emphasis on point-of-care diagnostic procedures, and the region's extensive disease prevention programmes fuel demand for nucleic acid testing.
Increased investments in diagnostics and research, as well as an increase in the prevalence of infectious disorders, are likely to boost the nucleic acid testing market in North America over the forecast period.
Asia Pacific
Asia Pacific is predicted to exhibit a considerably higher CAGR, owing to factors such as increased awareness of the nucleic acid test combined with a transfer of research institutes and contract research companies from developed western countries to emerging countries in Asia Pacific.
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Key Takeaways
- By 2033, the Indian nucleic acid amplification testing market is estimated to reach US$ 341.3 million.
- By 2033, it is estimated that the Chinese market for nucleic acid testing to reach US$ 659.1 million.
- The Japanese market for nucleic acid testing is expected to generate US$ 525.6 million in revenue by 2033.
- During the projection year, the US market may grow at a CAGR of 6.8%.
- The kits product type is expected to increase at a CAGR of 6.4% during the projected period.
- The CAGR for the UK market might be 6.7% between 2023 and 2033.
- The Japanese market is expected to increase at a CAGR of 6.3% over the forecast period.
- The Indian nucleic acid testing market is expected to develop at a CAGR of 10.6% between 2023 and 2033.
- The Chinese market for nucleic acid testing is expected to grow at a CAGR of 7% between 2023 and 2033.
- The UK market for nucleic acid testing is estimated to produce US$ 267.5 Mn in sales by 2033.
- The US market is estimated to reach US$ 2.0 Bn by 2033.
- Infectious Diseases may grow at a CAGR of 7.1% in the indication category during the predicted year.
Nucleic Acid Testing Market Competitive Landscape
Due to strategic initiatives taken by emerging and significant companies, the nucleic acid testing market is extremely competitive. Several new types of nucleic acid testing have been introduced in recent years.
Agilent Technologies, Danaher Corporation, Abbott Laboratories, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Beckman Coulter, Inc., Illumina, Inc., Siemens AG, Hologic Inc., bioMérieux SA, Novartis AG, F. Hoffmann-La Roche Ltd., Sequenom, Tecan Trading AG., and others are among the main players in the global market.
Recent Development
· Launch
September 2022, My lab Discovery Solutions debuted their Patho Detect HPV Identification PCR Test for the detection of human papillomavirus (HPV) in high-risk patients.
· Upgrade
Abingdon Health announced a new version of the successful NALFIA fast test in January 2019 for the detection of DIG/Biotin and/or FITC (Or FAM)/biotin-labeled analytes.
· Introduction
In September 2018, researchers at the National University of Singapore created a portable platform for a point-of-care nucleic acid test that can be used to diagnose a variety of diseases. "enVision" is the name of the device (enzyme-assisted nanocomplexes for visual identification of nucleic acids)
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Key Segments
By Product Type:
- Nucleic Acid Test Kits
- Transcription-Mediated Amplification (TMA)
- Polymerase Chain Reaction (PCR)
- Ligase Chain Reaction (LCR)
- Whole Genome Sequencing
- Consumables
By Indication:
- Infectious diseases
- Cancer
- Forensic Testing
- Others
By End-user:
- Hospitals
- Pathology laboratories
- Research Institutes
- Clinics
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APECJ
- China
- Japan
- MEA
Table of Content
- 1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
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