According to the latest market report published by Credence Research, Inc. “Nucleic Acid Testing Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global nucleic acid testing market was valued at US$ 1.91 Bn in 2016, and is expected to reach US$ 4.5 Bn by 2025, expanding at a CAGR of 9.8% from 2017 to 2025.
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Market Insights :
Nucleic acid testing (NAT) is rapidly growing market in diagnostics industries. Some unique features such as rapid analysis, sensitive, and specific as compared to the traditional method in detection and identification of genetic material contributing the market growth of NAT globally. For the purpose of study, global nucleic acid testing market is segmented on the basis of technology type such as polymerase chain reaction (PCR), strand displacement amplification, ligase chain reaction, transcription-mediated amplification and other technique.
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It is observed that, in the base year 2016, PCR contributed highest market revenue. Factors such as fundamental technique in detection of different genetic disorders, sequencing, mapping, mutation and structural analysis driving the market growth of PCR worldwide. Global nucleic acid testing market is categorized on the basis of application such as infectious disorders, forensic testing and genetic disorders and other types of disorders and blood screening.
Currently infectious disease segment contributed largest market revenue in global NAT market. Due to its capacity to identify genotypes and subtypes of pathogens also it can identify viral load. Nucleic acid testing market is currently dominated by North America due to technological advancement in testing methods, extensive adoption of genetic engineering by research institutes and pharmaceutical companies driving the market growth of NAT in North America. Currently, Asia Pacific is not major revenue generating segment but it is anticipated that Asia Pacific will show highest CAGR during forecast period.
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Market Competition Assessment:
The nucleic acid testing market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Abbott Laboratories, Inc., Bayer Group, Beckman Coulter, Inc., Becton, Dickinson and Company, BioMérieux SA, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Gen-Probe, Inc., Hologic, Illumina, Inc., Novartis AG, Qiagen, Quest Diagnostics, Sequenom, Inc., Siemens Healthcare, Tecan Group Ltd. and other.
Key Market Movements:
Factors such as higher prevalence of infectious disease, adoption of blood screening methods and technological advancements in diagnostics technique driving the market growth of NAT worldwide.
Rising awareness of genetic testing, extensively adoption of genetic engineering by research institutes and pharmaceutical companies, advances in gene editing technologies would further influence the market growth of NAT globally.
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