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Nucleic Acid Amplification Testing (NAAT) Market To Reach USD 4.549 Billion By 2026 | Reports And Data

Reports And Data

Reports And Data

Product launches and research for advanced Nucleic Acid Amplification Testing

NEW YORK, NY, UNITED STATES, December 18, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Nucleic Acid Amplification Testing (NAAT) market was valued at USD 2.315 Billion in 2018 and is expected to reach USD 4.549 Billion by year 2026, at a CAGR of 8.8 %. The study covers Nucleic acid which a complex organic substance essential to all forms of life. It is present in living cells as RNA and DNA, composed of nucleotides linked in a long chain. Whereas, Nucleic acid amplification testing is a method of testing the blood to detect pathogen causing bacteria or virus in in blood, tissue, urine, etc.

The nucleic acid amplification testing is widely used in the field of diagnostics. With market players exploring the applications of nucleic acid amplification testing, and it is expected to be adopted in new disease fields for the diagnostics and monitoring purpose. For instance, Gen-Probe, Inc., a US based Clinical Diagnostics company, introduced three assays based on its transcription-mediated amplification technology: the APTIMA CT assay (ACT), which detects C. trachomatis, the APTIMA GC assay (AGC), which detects Neisseria gonorrhoeae, and the APTIMA COMBO 2 assay (AC2), which detects both pathogens.

Increasing need for advanced diagnostic methods, wide range of applications in identification and monitoring of numerous diseases, increasing investment in the diagnostics sector, initiatives by governments all over the globe, extensive range of uses, growing demand from blood banks and transfusion centers, technological development in healthcare sector, are some of the prominent factors propelling nucleic acid amplification testing market growth in the industry.

However, associated safety concerns related to the nucleic acid amplification testing process, and dearth of sophisticated infrastructure essential for these kind of advanced technology in some developing nations, are the major hindrances restraining the nucleic acid amplification testing market growth during 2019-2026.

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Market Overview:

The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2028. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.

Competitive Landscape:

The report provides details about competitive landscape of global Nucleic Acid Amplification Testing (NAAT) market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Nucleic Acid Amplification Testing (NAAT) market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.

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Further key findings from the report suggest

• Nucleic Acid Amplification testing market is growing at a CAGR of 8 % in Asia Pacific followed by North America and Europe, with 8.6 % and 8.5 % CAGR, respectively. Growing demand for the advanced diagnostic measures the globe is the prominent factor to accelerate the nucleic acid amplification testing market growth during forecast period across all regions

• As of 2018, Target Amplification system is the dominating Nucleic Acid Amplification Testing technique which holds 38.8 % of the global market. North America regional market is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions.

• Probe amplification systems is expected to grow at a CAGR of 8.4 %. The market segment will reach USD 1.5 Billion mark by 2026.

• Infectious disease application type segment was valued at USD 1.03 billion and is expected reach USD 1.97 billion by 2026, growing at a CAGR of 8.7%.

• Asia Pacific is expected to account for the 22.5 % of the global Nucleic Acid Amplification Testing market. Developing nations such China, and India are likely to witness significant growth

• Associated safety concerns related to the nucleic acid amplification testing process and dearth of sophisticated infrastructure essential for these kind of advanced technology is likely to hinder the nucleic acid amplification testing market growth during the forecast period

• Key participants include Siemens Healthcare GmbH, Abbott Laboratories, Inc., F. Hoffmann-La Roche Ltd, Grifols SA, Becton, Illumina Inc., Dickinson and Company, Beckman Coulter Inc., Bio-Rad Laboratories, and bioMrieux SA

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Segments covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Nucleic Acid Amplification Testing market on the basis of Technique type, Application type, and region:

Technique Type (Revenue, USD Million; 2016–2026)

• Target Amplification
• Probe Amplification
• Signal Amplification

Application Type (Revenue, USD Million; 2016–2026)

• Infectious Diseases
• Cancer
• Personalized Medicine
• Genetic

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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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 analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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