The global nucleic acid testing market exhibited a value of USD 2,478.0 million in 2017, and is expected to reach USD 4,154.8 million by 2025, growing at a CAGR of 6.8% during 2018–2025. The key factors boosting the market growth are unmet diagnostic needs in the clinical settings, strong R&D capability to make a significant leap in technology and high adoption of nucleic acid testing in blood screening.
Nucleic acid amplification testing is gaining traction over conventional diagnostic techniques because of its accuracy and high efficiency. High usage of polymerase chain reaction technique in nucleic acid testing is driving the growth of polymerase chain reaction segment which is expected to exhibit significant revenue share during the forecast period.
Advances in technology, along with the introduction of new and improved reagents and instruments are likely to drive demand for ligase chain reaction and polymerase chain reaction kits in the nucleic acid testing market, globally. Ligase chain reaction segment is expected to exhibit the highest CAGR of 7.9% during 2018–2025 due to its characteristics of specificity and high sensitivity.
“Penetration rate of nucleic acid testing in emerging countries will depend on the introduction of cost-effective kits and reagents and automation in nucleic acid testing along with the integration of molecular diagnosis into traditional laboratories through upgraded and broadened testing capabilities.”
Based on geography, North America held the largest share in the market in 2017 on account of reimbursement for Nucleic Acid Testing. In addition, rise in research & development activities, increasing volume of nucleic acid testing procedures and growing awareness of molecular diagnosis in healthcare facilities are expected to boost the market growth during the forecast period. Asia-Pacific is the fastest growing region in the global nucleic acid testing market and is projected to grow at CAGR of 8.0% during 2018-2025 due to high prevalence of infectious diseases and rising adoption of advanced diagnostic technologies
• Ligase chain reaction segment is expected to exhibit the highest CAGR of 7.9% during 2018–2025
• North America held the largest share in the market in 2017
• Asia-Pacific is the fastest growing region in the global nucleic acid testing market and is projected to grow at CAGR of 8.0% during 2018-2025.
• Emerging economies, such as China and India are the hotspots for investment because of larger patient pool, increasing diagnosis seeking rate and exponential growth in research & development activities.
Some of the key players operating in the global nucleic acid testing market, include Abbott Laboratories, Agilent Technologies, Danaher Corporation, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Illumina, Inc., Thermo Fisher Scientific Inc., Qiagen, Merck KGaA, Becton, Dickinson and Company, among others.
The global nucleic acid testing market has been segmented on the basis of product type, end use and key geographies. Based on the product type which include different type of nucleic acid test kits, the nucleic acid kits comprises of polymerase chain reaction (PCR), transcription-mediated amplification (TMA), ligase chain reaction (LCR), and whole genome sequencing. Based on end user, the market has been segmented into hospitals, pathology laboratories, research institutes and clinics.
The research report “global nucleic acid testing market” provides in-depth analysis of nucleic acid testing across the globe, based on product type, end use and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for nucleic acid testing market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
For more details, browse the Table of Contents: https://www.gmiresearch.com/report/global-nucleic-acid-testing-market-2018-2025-share-trends-forecasts-opportunity-insights-healtcare.html
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