Market Summary: The global market for nucleic acid testing reached a size of USD 4.23 Billion in 2022 and is projected to reach USD 7.57 Billion by 2032, with a compounded annual growth rate (CAGR) of 6.7% throughout the forecast period. The primary drivers of this growth include the increasing incidence of infectious diseases, coupled with the demand for accurate and rapid diagnostic tests. Nucleic Acid Testing (NAT) technology, known for its sensitivity and specificity in identifying viral, bacterial, and genetic diseases in blood samples, is a major contributor to the market's revenue growth.\
Competitive Landscape: Key companies operating in the global nucleic acid testing market include Abbott Laboratories, Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Hologic, Inc., Qiagen N.V., Siemens Healthineers AG, and Thermo Fisher Scientific, Inc.
Factors contributing to the revenue growth in the nucleic acid testing market encompass the rising prevalence of infectious diseases, advancements in NAT technology, and governmental initiatives for disease detection and control. The World Health Organization (WHO) recommends the use of NAT for diagnosing infectious diseases, such as Human Immunodeficiency Virus (HIV) and hepatitis B and C. Blood screening tests, especially in blood banks and plasma centers, are witnessing increased demand for NAT to identify viral infections in blood donors.
Get a sample copy of the Nucleic Acid Testing Market report: https://www.reportsanddata.com/download-free-sample/1429
The launch of innovative NAT products, including portable and point-of-care systems, is expected to further propel market revenue growth. These technologies, known for affordability and quick results, find applications in rural and resource-constrained areas. Additionally, the implementation of automation in NAT contributes to market growth, offering benefits like higher throughput, efficiency, and reduced effort compared to traditional techniques.
The market is also stimulated by the growing prevalence of chronic diseases like cancer and genetic abnormalities, with NAT being used for diagnosis and monitoring. The demand for personalized treatment further drives the use of NAT in precision medicine, identifying genetic variants that influence individuals' responses to medications.
Molecular diagnostics, employing NAT for disease diagnosis and monitoring, is expanding rapidly, particularly in oncology, genetic testing, and infectious disease testing. Point-of-care molecular diagnostics are gaining popularity in various healthcare settings due to their ability to deliver rapid and accurate results.
Despite the positive trajectory, factors restraining market growth include the high cost of NAT products, lack of reimbursement for NAT testing in certain countries, and a shortage of knowledgeable specialists, especially in developing nations.
Type Insights: In 2021, the PCR-based category dominated the global nucleic acid testing market in terms of revenue share. PCR-based technology, known for its high sensitivity and specificity, holds significance in detecting infectious disorders and represented a substantial revenue share in 2021. The PCR-based approach is utilized for gene expression investigation and the detection of genetic alterations, contributing to its growth in research and development efforts.
The isothermal amplification segment is expected to exhibit the fastest revenue growth throughout the forecast period. This is attributed to the rising demand for quick and precise diagnostic tests for infectious diseases. Isothermal amplification allows nucleic acids to be amplified at a constant temperature without the need for thermal cycling, resulting in a faster and more efficient testing process, especially suitable for point-of-care diagnostics.
The microarray segment is anticipated to experience consistent revenue growth, benefiting from its capability to simultaneously detect various nucleic acid sequences. Microarray technology finds applications in genotyping, gene expression profiling, and pathogen detection, contributing to its growth in clinical diagnostics and research and development activities.
The sequencing segment is expected to witness significant revenue growth, driven by the increasing need for high-throughput sequencing technologies in genetic analysis, genomics, and personalized medicine. The declining cost of sequencing and the availability of new sequencing platforms further contribute to the segment's expansion.
Other nucleic acid testing techniques, including Digital PCR and loop-mediated isothermal amplification (LAMP), are gaining momentum in clinical diagnostics and research and development, driving revenue growth in this market segment.
Application Insights: The nucleic acid testing market is segmented based on applications, including infectious diseases, cancer diagnosis, genetic testing, and others. Infectious diseases accounted for the largest revenue share in 2021, driven by the increasing prevalence of diseases like HIV, hepatitis, and tuberculosis. Nucleic acid testing aids in the early detection and diagnosis of infectious diseases, enabling prompt treatment and disease prevention.
The sector for cancer diagnosis is anticipated to grow significantly, driven by the discovery of cancer biomarkers and genetic alterations associated with various types of cancer. The rising global incidence of cancer and the demand for personalized cancer therapy contribute to the growth of this market segment.
The genetic testing segment is expected to experience substantial expansion, playing a crucial role in identifying and treating genetic illnesses such as Down syndrome, cystic fibrosis, and sickle cell anemia. The increasing need for early and accurate diagnoses of genetic diseases and rising awareness of genetic testing contribute to the market's growth.
The others segment, covering applications like forensics and food safety testing, is anticipated to grow throughout the forecast period. Nucleic acid testing is frequently used in forensics for the identification and analysis of DNA evidence. Additionally, the demand for nucleic acid testing in the food industry is expected to rise due to increased focus on food safety and quality management.
Regional Insights: In 2021, North America held the largest revenue share in the global nucleic acid testing market, driven by superior healthcare infrastructure, increased investments in research and development, and a focus on early disease detection and prevention. However, the Asia-Pacific region is expected to witness significant growth during the forecast period due to the rising incidence of infectious diseases and cancer, increasing healthcare costs, and growing public awareness of genetic testing.
The Asia-Pacific market dominated other regional markets in 2021, with factors such as the increased prevalence of infectious diseases, rising demand for early and accurate disease detection, and greater awareness of the benefits of nucleic acid testing contributing to its dominance. Populous nations like China and India, experiencing a surge in infectious diseases, are actively upgrading their healthcare systems, further boosting the demand for nucleic acid testing.
North America is projected to achieve the fastest revenue CAGR throughout the forecast period, driven by the increasing prevalence of chronic diseases, a focus on personalized treatment, and elevated funding for research and development initiatives.
The European market is expected to expand moderately, with the rising prevalence of chronic diseases, including cancer and cardiovascular disorders, driving the demand for nucleic acid testing. The UK, in particular, boasts a robust healthcare industry, supported by significant government infrastructure spending.
Strategic Developments:
In 2021, Abbott Laboratories announced the acquisition of Walk Vascular, LLC, enhancing its vascular product portfolio and market share in the nucleic acid testing market.
Hologic, Inc. acquired Diagenode in 2021, strengthening its molecular diagnostics capabilities and expanding its product offerings in the nucleic acid testing market.
Bio-Rad Laboratories, Inc. collaborated with Seegene, Inc. in 2020 to develop and commercialize multiplex molecular diagnostic tests for infectious diseases, including COVID-19, using Bio-Rad's droplet digital PCR technology.
Danaher Corporation completed the acquisition of the biopharmaceutical business of General Electric Company (GE) in 2020, aiming to expand its life sciences business and strengthen its presence in the global nucleic acid testing market.
Explore Trending Reports:
Polyamide Market-https://www.reportsanddata.com/report-detail/polyamide-market
Recycled Plastics Market-https://www.reportsanddata.com/report-detail/recycled-plastics-market
Propylene Oxide Market-https://www.reportsanddata.com/report-detail/propylene-oxide-market
Cellulose Ether Market-https://www.reportsanddata.com/report-detail/cellulose-ether-market
Logistics Automation Market-https://www.reportsanddata.com/report-detail/logistics-automation-market
Request a customization of the reporthttps://www.reportsanddata.com/request-customization-form/1429
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Browse Latest Blogs: https://www.reportsanddata.com/blogs
Browse Latest Press Release: https://www.reportsanddata.com/press-release