Global Nucleic Acid Amplification Testing Market Analysis: Size, Drivers, Trends, Opportunities, And Strategies
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At What Rate is the Nucleic Acid Amplification Testing Market Predicted to Expand Between 2024 and 2033?
In recent times, there has been a swift expansion in the size of the nucleic acid amplification testing market. It is expected to escalate from $8.33 billion in 2023 to $9.56 billion in 2024, with a compound annual growth rate (CAGR) of 14.7%. The significant increase during the historic period can be linked to an increased understanding of infectious disease diagnosis, the appearance of new pathogens, a trend towards personalized medicine, the demand for point-of-care testing as well as regulatory approvals and guidelines.
In the coming years, the market size for nucleic acid amplification testing is projected to experience impressive growth. It’s anticipated to attain a value of $16.77 billion by 2028, growing at a compound annual growth rate (CAGR) of 15.1%. The expected growth during this period can be credited to an upswing in infectious diseases, the necessity for high-capacity testing facilities, increased funding from private entities, a rising need for swift, precise testing approaches and an escalating demand for innovative diagnostic procedures. Key trends expected to shape the period include the merge with artificial intelligence (AI), enhancements in wearable and implantable devices, an increased uptake in point-of-care testing, growth in personalized medicine, and the merge with digital health technologies.
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What Forces Are Boosting the nucleic acid amplification testing Market’s Growth?
The growing prevalence of infectious diseases anticipated to boost the nucleic acid amplification testing market’s progression. Infectious diseases are illnesses triggered by organisms, which can be transmitted from one individual to another through various methods, such as direct contact, airborne transmission, consumption of polluted food or water, or insect vectors. The escalation of infectious diseases is attributed to antibiotic resistance, climate modifications, alterations in human behavior, and farming techniques. Nucleic acid amplification testing (NAAT) quickly and precisely detects infectious pathogens, thus supporting prompt diagnosis and treatment, consequently assisting in managing disease contagion. For instance, the Public Health Agency of Canada, a government agency based in Canada, revealed that during the 2022–2023 season, 4,216 hospitalizations related to influenza were reported by participating provinces and territories, as of October 2023. Hence, the rising prevalence of infectious diseases motivates the expansion of the nucleic acid amplification testing market.
What Key Segments Make Up the Nucleic Acid Amplification Testing Market?
1) By Type: Target Amplification Systems, Probe Amplification Systems, Signal Amplification Systems
2) By Product Type: Consumables, Instruments Or Systems
3) By Technology: Polymerase Chain Reaction (PCR1) Tests, Isothermal Nucleic Acid Amplification Technology (INAAT1) Tests, Ligase Chain Reaction (LCR1) Tests
4) By Application: Infectious Disease Testing, Oncology Testing, Genetic And Mitochondrial Disease Testing, Other Applications
5) By End-Use: Hospitals, Diagnostic Laboratories, Biotechnology Companies, Other End-Users
What Are the Latest Trends Impacting the Nucleic Acid Amplification Testing Market?
Leading corporations in the nucleic acid amplification testing market are concentrating their efforts on creating novel solutions like in vitro diagnostics (IVD) assays. These are used to check donated blood for CMV using nucleic acid amplification technology (NAT) within the IVDR framework. An IVD assay is basically a laboratory-based test carried out on biological samples to identify diseases, conditions, or infections. For example, in June 2024, German company GFE introduced the PoET CMV, an IVD assay specially designed for the quick and accurate detection of cytomegalovirus (CMV) infections. This assay has unique qualities such as high sensitivity and specificity that enable early identification and effective tracking of CMV in patients who have undergone transplants and those with weakened immune systems. It employs cutting-edge molecular techniques to provide dependable results in a timely manner, aiding in quick clinical decisions.
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What Regions Are Dominating the Nucleic Acid Amplification Testing Market Growth?
North America was the largest region in the nucleic acid amplification testing (NAAT) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nucleic acid amplification testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Nucleic Acid Amplification Testing Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the nucleic acid amplification testing market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Nucleic Acid Amplification Testing Market Include
1. Nucleic Acid Amplification Testing Market Executive Summary
2. Nucleic Acid Amplification Testing Market Segments
3. Nucleic Acid Amplification Testing Market Size And Template Market Growth Rate
4. Key Nucleic Acid Amplification Testing Market Trends
5. Major Nucleic Acid Amplification Testing Market Drivers
……
25. Key Mergers And Acquisitions In The Nucleic Acid Amplification Testing Market
26. Top Nucleic Acid Amplification Testing Companies
27. Nucleic Acid Amplification Testing Market Opportunities And Strategies
28. Nucleic Acid Amplification Testing Market, Conclusions And Recommendations
29. Appendix
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