Nucleic Acid Amplification Testing Market to Reach $9.1 Billion, Globally, by 2032 at 6.6% CAGR: Allied Market Research

The global nucleic acid amplification testing market is experiencing growth due to various factors, including the surge in demand for advanced diagnostic techniques, the rise in the prevalence of infectious diseases, and the growth in the incidence of cancer cases. 

PORTLAND, Ore., Oct. 27, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Nucleic Acid Amplification Testing Market By Technology (Polymerase Chain Reaction (PCR) Tests, Isothermal Nucleic Acid Amplification Technology (INAAT) Tests), By Application (Infectious Disease Testing, Oncology Testing, Others), By End-User (Hospital Based Laboratories, Central, Reference and Standalone Laboratories, Others)”. As per the report, the nucleic acid amplification testing industry was estimated at $4.8 billion in 2022 and is projected to reach $9.1 billion by 2032, exhibiting a CAGR of 6.6% from 2023 to 2032. 

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Nucleic acid amplification testing is a laboratory technique for the detection and amplification of nucleic acids, such as DNA and RNA, from a sample. This method enables the quantification and identification of target nucleic acid sequences, which can be utilized for a variety of purposes, such as the diagnosis of infectious diseases, the detection of genetic mutations, and the pursuit of molecular biology research. NAAT’s high sensitivity and specificity make it an invaluable tool in the field of molecular diagnostics. 

Prime Determinants of Growth

The global nucleic acid amplification testing market is experiencing growth due to various factors, including the surge in demand for advanced diagnostic techniques, the rise in the prevalence of infectious diseases, and the growth in the incidence of cancer cases. On the other hand, lack of awareness regarding advanced diagnostic techniques, and a lack of skilled personnel for advanced diagnostic testing hampered the market growth. Moreover, the rising awareness and demand for point-of-care testing creates lucrative opportunities for market growth. 

Report Coverage and Details

Economic Downturn Analysis: Impact of Recession in 2023 on the Nucleic Acid Amplification Testing Market

Numerous sectors of the economy, particularly the pharmaceutical and biotechnology industries, have been impacted by the ongoing global recession. Budgetary restrictions in the healthcare industry during a recession result in a smaller amount being spent on diagnostic tests like NAATs. Especially in non-urgent or elective testing locations, there are shifts in the demand for NAATs. 

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The polymerase chain reaction (PCR) tests segment to maintain its leadership status throughout the forecast period- 

Based on technology, the polymerase chain reaction (PCR) tests segment held the highest market share in 2022, accounting for more than four-fifths of the global nucleic acid amplification testing market revenue, and is anticipated to maintain its leadership status throughout the forecast period. The same segment would also cite the fastest CAGR of 6.7% during the forecast period. The growth of the segment is attributed to the advantages offered by polymerase chain reaction such as simplicity of procedure, validated standard operating procedure, and availability of reagents and equipment in the market.   

The infectious disease testing segment to maintain its lead position during the forecast period- 

Based on application, the infectious disease testing segment accounted for the largest share in 2022, accounting for nearly two-thirds of the global nucleic acid amplification testing market revenue and is expected to maintain its lead position during the forecast period. The same segment would also showcase the fastest CAGR of 6.9% from 2023 to 2032. The growth of the segment is mainly attributed to the rise in incidences of infectious conditions which can be detected using PCR and INAAT techniques. 

The central, reference and standalone laboratories segment to maintain its lead position during the forecast period-

Based on end user, the central, reference and standalone laboratories segment accounted for the largest share in 2022, contributing to nearly half of the global nucleic acid amplification testing market revenue, and is expected to maintain its lead position during the forecast period. Nucleic acid amplification testing (NAAT) is an essential tool employed by these specialized laboratories to amplify and detect nucleic acid sequences with precision. On the other hand, the hospital-based laboratories segment would portray the fastest CAGR of 7.0% during the forecast period. This is attributed to an increase in the number of people suffering from various infectious diseases and chronic conditions such as cancer which require frequent testing. 

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North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global nucleic acid amplification testing market, and is likely to dominate the market by 2032. North America region is witnessing notable growth trends in the nucleic acid amplification testing market, driven by the increasing incidence of bacterial infections in North America is a significant driver of market growth. On the other hand, the Asia-Pacific region would exhibit the fastest CAGR of 7.4% throughout the forecast period. This is attributed to the large population base in countries such as China and India, rising healthcare expenditure, and developing healthcare infrastructure.   

Leading Market Players: –  

Hologic, Inc. New England Biolabs. Grifols, S.A. Biomerieux SA Illumina Inc. Abbott Laboratories Perkin Elmer Inc F. Hoffmann-la Roche Ltd. Eiken Chemical Co., Ltd. Siemens AG  

The report provides a detailed analysis of these key players in the global nucleic acid amplification testing market. These players have adopted different strategies such as acquisition, product launch, product approval, and product upgrade or development to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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