Report ID: 10324762 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Nucleic Acid Testing Market is valued approximately at USD XXX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2026. Nucleic Acid Testing is a procedure utilized to detect a particular acid sequence and thus is generally used to detect a particular species of organisms usually a virus or bacteria. These are different from other tests as these detect genetic materials rather than antigens and antibodies. Hence allow early diagnosis of a disease. The increasing demand for advanced technology-based kits in various diagnostic aspects such as forensic testing, infectious diseases, paternity testing or HLA typing and Cancer drives the market towards growth. Moreover, surge in the rate of technological development in the healthcare industry with market players developing in-house capabilities to generate high quality products with short turnaround time to meet the research requirements further drives the market growth. Also, increasing demand for technologically advanced methods in sample preparation, amplification, extraction and testing for nucleic acids such as DNA and RNA further fuel the market growth. Additionally, the spread of the COVID-19 Pandemic has brought a major boost to the nucleic acid testing market. As the Nucleic acid test kits are being used for the early detection and screening of the novel corona virus. The most important concern of governments of all COVID-19 infected nations is the excruciating need to screen for and lest large number of patients for the possible Corona Virus Infection. This has brought an upsurge in demand for the Nucleic acid testing. As in April 2020, a drive-thru testing for nucleic acid tests of the corona virus was opened in Haidan district, Beijing, China. The drive thru tests process was completed in only 2 minutes and appointments could be made online. The aim of the establishment was to widen the testing scale in Beijing and detect more asymptomatic COVID-19 infections. Since the launch 448 samples has been collected and almost 100 people are tested each day. In the same month, the public health department of Luohu District in China collected 17,107 samples between 23 to 26th April 2020 for nucleic acid testing from students who were about to graduate this year. Also, the demand for these tests is bound to further increase as the work resumes in all the lockdown nations. As these tests detect the virus at an early stage. For Instance: in April 2020, South China's Guangdong Province demanded all school staff to undergo nucleic acid tests before they resumed work to lower the risk of infection. Hence further propelling the market growth. This has brought immense pressure on the diagnostics virology entities as the shortage in supply of the kits increases. Another factor driving that would drive the market towards its peak is the time of detection. With the advancing technology the testing timings are being decreased to increase the number of screenings per day. This has propelled market players to develop efficient and fast diagnostic kits. For Instance: as per the Chinese Academy of Sciences the Suzhou Institute of Biomedical Engineering and Technology researchers have developed a new nucleic acid test kit for COVID-19 which can confirm cases on an average in 45 minutes. In addition to the fast result time the test kit is also small in size and easy to carry, making it handy for on-site testing. While, Abbott Inc in March 2020 announced the launch of its Molecular Point of care test kit which can detect a positive case in 5 minutes and a negative case in 13 minutes. The company made available the kits in the first week of April 2002 and ramped up the manufacturing to 50,000 tests per day. Hence providing a concrete path for growth during the forecast period amidst and post COVID-19 pandemic.
The regional analysis of global Nucleic Acid Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and presence of well-established healthcare market in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as huge number of population and need for early detection of diseases would create lucrative growth prospects for the Nucleic Acid Testing market across Asia-Pacific region.
Major market player included in this report are:
Abbott Laboratories
Roche Molecular Systems
GenMark Diagnostics
Shanghai ZJ Bio-Tech
Shanghai Geneodx Biotech
Genomics Biotech (Wuhan)
Zhongshan Daan Gene
Sanaure
Shanghai Bio-Germ
Chengdu Boaojing Bio-Tech
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
Polymerase Chain Reaction (PCR)
Strand Displacement Assay (SDA)
Ligase Chain Reaction (LCR)
By End-Users:
Hospitals
Clinics
Research Institutes
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Nucleic Acid Testing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10324762 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
