The Global Nucleic Acid Testing Market is forecast to reach USD 4.39 Billion by 2027, according to a new report by Reports and Data.
The growth of the market is promoted due to factors like rising demand for advanced measures of diagnosis and an increased rate of occurrence of a genetic disorder and chronic conditions like cancer. There has been a rise in the rate of prevalence of infectious diseases, which is another factor promoting the market. The reason for the growth of the market with an increase in occurrences of contagious diseases is because of its applicability in the early identification of viral RNAs and DNAs in the blood sample.
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The rate of occurrence of infectious diseases remains high despite the presence of different diagnostic tools. More than one billion people suffered from various contagious diseases across the globe, in the year 2012. Effective management of infectious diseases largely depends on the effective identification of infecting agents. It is with the help of nucleic acid testing, precise detection of the infecting agent can be identified. Such applicability of nucleic acid testing is one of the major driving factors for the market. Governments are increasing their investment in research and development in areas like genetic engineering and infectious diseases, which is another factor promoting the market.
North America dominates the market owing to the quick acceptance of advanced technologies and increased occurrences of healthcare conditions like cancer. Increased investment in R&D and mergers are also fueling market growth.
Further key findings from the report suggest
- With the rise in cancer and genetic disorder, the number of care users looking for early medical diagnosis of these conditions will rise. The nucleic acid testing market generated a revenue of USD 2.46 Billion in the year 2019 and is forecasted to grow at a rate of 7.17% during the forecast period.
- Apart from the rise in the occurrence rate of infectious disease and cancer, technological advancements in testing methods and increased acceptance of nucleic testing methods among end-users are also contributing to the market growth of the industry.
- There is a growing demand for enhanced and new testing methods that require automated amplification systems. Such an increasing demand for new testing methods is also forecasted to have a positive impact on the market.
- In the product type segment, Polymerase Chain Reaction (PCR) can be seen to hold the largest market share. In the year 2019, it held around 38% of the market. The reason for its dominance in the market is because of low cost and a variety of applicability.
- In the technique segment, target amplification systems can be seen to hold the largest market share of approximately 65% in 2019. Its high efficiency and simplicity as compared to other techniques have contributed to its market dominance.
- In regards to the application of nucleic acid testing, an infectious disease can be seen to hold the largest market share of nearly 35% in 2019. The reason for its dominance in the market is because of the continuous rise in the occurrence of infectious diseases across the globe.
- In context to end-users, academic and research institutions held the largest market share of over 28% as of 2019. The constant effort for the development of nucleic acid testing and attempt to increase its applicability has contributed to the market dominance of academic and research institutions.
- In regards to end-users, hospitals are expected to witness the highest growth rate of 7.8% owing to the increase in infectious diseases and cancer.
- North America dominates that market that held around 38% of the market in 2019. Factors that have contributed to the market share of this region are established healthcare infrastructure, higher investment in R&D, and acceptance of new technologies.
- The Asia Pacific region is forecasted to have the highest growth rate of 10.3% during the forecast period because of developing healthcare infrastructure, increasing initiatives by the government to promote the market in this region, and geographic expansion of key players in this region.
- Key participants include Applied Gene Technologies, Abbott, Affymetrix, Becton Dickinson, Illumina, Inc., Bio-Rad, Diadexus, Elitech Group, Exact Sciences, Kreatech/Leica, Perkin Elmer/Caliper, Siemens Healthineers and Dickinson and Company, among
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For the purpose of this report, Reports and Data have segmented the global Nucleic acid testing Market based on Product Type, Technique, Application, End-user, and Region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Ligase Chain Reaction
- Polymerase Chain Reaction (PCR)
- Transcription-mediated Amplification (TMA)
- Whole Genome Sequencing
Technique Outlook (Revenue, USD Billion; 2017-2027)
- Probe amplification systems
- Target amplification systems
- Signal amplification
Application Outlook (Revenue, USD Billion; 2017-2027)
- Infectious Diseases
- Viral detection & load
- Viral & bacterial genotyping
- Bacterial tests
- Genetic and Mitochondrial Disorders
- Genetic testing
- Disease predisposition
- Chromosomal aberrations
- Cervical cancer screening
- Breast Cancer
- Forensic testing
- Paternity Testing/HLA Typing
- Personalized Medicine
End-user Outlook (Revenue, USD Billion; 2017-2027)
- Government regulated Clinical Laboratories
- Academic and research Institutions Dermatology
- R&D Centers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/nucleic-acid-testing-market
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