Selbyville, Delaware , April 20, 2022 (GLOBE NEWSWIRE) --
The isothermal nucleic acid amplification technology (INAAT) market value is projected to reach USD 2.8 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing number of pathology labs and services equipped with advanced diagnostic systems will boost the industry expansion.
Ongoing technological advancements in the healthcare industry will fuel the market demand. Various manufacturers in this market are building in-house capabilities to develop high-quality test kits with quick turnaround times to fulfil a variety of research needs. Besides, the increased demand for cutting-edge sample amplification, extraction, and preparation methods will drive the market development. The demand for these test kits for RNA and DNA identification is also likely to increase. Furthermore, major manufacturers are partnering with several research institutes to co-develop novel test kits and support molecular biology research. Many new businesses are expected to enter this market to create new diagnostic products that are cost-effective and address the growing medical needs of consumers globally.
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INAAT market from nucleic acid sequence-based amplification (NASBA) segment surpassed USD 151.7 million in 2021. This is attributed to its increased usage in retroviral and microbial detection. Also, the NASBA system is based in part on RNA transcription for amplification, several copies of RNA are transcribed in each (theoretical) cycle. As a result, the augmented kinetics of the NASBA process is intrinsically more efficient than PCR amplification.
Some major findings of the isothermal nucleic acid amplification technology market report include:
- Rising prevalence of chronic and infectious diseases worldwide will propel the business landscape.
- Increasing demand for cost-effective and rapid testing is proving beneficial for the INAAT industry.
- Growing popularity for point of care testing will accelerate the market progression.
- Government funding and rising R&D activities to develop fully automated diagnostic instruments will foster the market share.
Browse key industry insights spread across 160 pages with 235 market data tables & 14 figures & charts from the report, “Isothermal Nucleic Acid Amplification Technology (INAAT) Market Forecasts By Technology (Loop-mediated Isothermal Amplification [LAMP], Helicase-dependent Amplification [HDA], Nucleic Acid Sequence-based Amplification [NASBA], Strand Displacement Amplification [SDA]), By Product (Instruments, Reagents), Application, (Infectious Disease {HIV, Influenza, Malaria, Tuberculosis}, Oncology, Blood Screening), End-use (Hospitals, Diagnostic Laboratories), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/isothermal-nucleic-acid-amplification-technology-market
Isothermal nucleic acid amplification technology market from instruments segment accounted for around 28% revenue share in 2021. This is owing to increasing diagnostic testing for various infections and chronic diseases. Also, growing number of authorized diagnostic laboratories and rising worldwide elderly population will propel the segment revenue. Further, the developments and innovation in various test kits and growing demand for user-friendly, diagnostic tests will enhance the industry size.
The oncology segment held over 5% revenue share in 2021. This is attributed to surging cases of cancer globally. For instance, according to national cancer institute, in 2020, an estimated 1.8 million new cancer cases in the U.S. were projected by the organization. Thus, to avoid such scenarios, screening and diagnosis of disease plays a crucial role. For instance, INAAT technology LAMP assay is highly used in cancer detection. Such scenarios will spur the market expansion.
The hospital segment the isothermal nucleic acid amplification technology market is anticipated to exhibit 11.4% CAGR during the projected timeline. This is owing to strong requirement of INAAT kits and instruments in hospital settings. Also, in hospitals the chances of preanalytical error of sampling, inappropriate specimen transport can be avoided. Such positive scenarios will stimulate the business outlook. Furthermore, hospitals are well equipped with advanced equipment along the presence of trained medical professionals. As a result, patients prefer hospitals for any type of diagnosis for better care thereby, fostering the overall market progression.
Asia Pacific isothermal nucleic acid amplification technology market held around 19% business share in 2021. Several Asia Pacific countries such as Japan, India, and China, are witnessing increasing demand for diagnostic tests due to increasing geriatric population and surging prevalence of infectious diseases such as tuberculosis in the region. The market growth is also supported by presence of independent diagnostic center chains, hospitals, and academic institutes. Furthermore, growing demand for cost-effective diagnostics coupled with less stringent regulatory scenarios will augment the regional market outlook.
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Some of the key market leaders operating in the isothermal nucleic acid amplification technology industry include BD, Abbott (Alere), BioMerieux SA, Eiken Chemical Co. Ltd, Hologic Inc. (Gen-Probe), Lucigen, Meridian Bioscience, Inc., OptiGene Limited, Qiagen NV, Quidel Corporation, Tecan Genomics Inc., Grifols, S.A., Thermo Fisher Scientific Inc., and Ustar Biotechnologies Ltd.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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