Isothermal Nucleic Acid Amplification Technology Market Worth US$ 4.2 Billion and Replace Conventional PCR Technologies – Persistence Market Research Analysis, 2033
Market Study on Isothermal Nucleic Acid Amplification Technology Market: Requirement of More Accurate Diagnostic Technologies to Drive the Demand
New York, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The global isothermal nucleic acid amplification technology market net worth is estimated to be around US$ 4.2 Billion in 2022 and is anticipated to expand at a CAGR of 12% during the forecasted years. This report on the isothermal nucleic acid amplification technology market predicts the overall valuation of the market up to US$ 13 Billion by the year 2032.
Growing scientific knowledge regarding these technologies' possible advantages, especially the need for fewer iterations and quicker response times for blood serum testing and diagnosis purposes, is driving the adoption of such technologies at a splendid growth rate.
Additionally, it is projected that growing research efforts to create INAAT devices that can identify a variety of blood-borne infections and genetic biomarkers would strengthen the market's growth potential in the coming days.
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Key Takeaways from the Isothermal Nucleic Acid Amplification Technology Market Study Report
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The LAMP technology segment contributes around 16% of the demand for isothermal nucleic acid amplification technology generated globally and is growing rapidly.
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The prevalence of chronic diseases in both developed and emerging economies makes up almost 35% of the revenue generated by the market annually.
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Hospitals and healthcare centres are the prominent end-user segments of the INAAT and acquire a market share of 40% in 2022.
The most common infectious illnesses that contribute to mortality are TB, hepatitis, and influenza, particularly in underdeveloped nations. Because of this, the popularity of isothermal nucleic acid amplification technology solutions is anticipated to increase in response to the desire for quick, simple, and disease-specific diagnostic choices. The loop-mediated isothermal amplification or LAMP technique's resistance to inhibitors, which permits the use of unrefined materials and barely purified nucleic acids, further supports the need for it.
Recent advances by the INAAT players are emerging as a result of the quick development of existing technologies as well as the inclusion of modern innovations like SPIA, LAMP, RPA, and SDA. For instance, a study that used the LAMP technology that was published in the Analyst Journal in June 2022 showed how an integrated cell phone could quickly test for something like the Zika virus in a single drop of blood. Such advances are probably going to heighten the isothermal amplification technologies' market penetration in the future days.
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Competitive Landscape for the Isothermal Nucleic Acid Amplification Technology Market
Alere, Inc., bioMerieux SA, Eiken Chemical Co. Ltd, Hologic Inc.(Gen-Probe), Lucigen, Meridian Bioscience, Inc., Ustar Biotechnologies Ltd., QIAGEN, Quidel Corporation, Thermo Fisher Scientific, Inc., BD (Becton, Dickinson & Company), and OptiGene Limited among others are some of the major players in the global isothermal nucleic acid amplification technology market.
Strategic alliances involving businesses that produce isothermal nucleic acid amplification technology diagnostics and related goods are also anticipated to improve prospects for market development. For example, via a partnership with New England Biolabs, Merck KGaA provides special LAMP primers for use in molecular diagnostics and health sciences research activities.
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Recent developments in the Isothermal Nucleic Acid Amplification Technology Industry
An exclusive partnership between LGC Clinical Diagnostics and Stanford Medicine's Department of Obstetrics and Gynaecology and Metabolic Health Centre of the United States, which supports international metabolic and genetic diagnostic procedures, was extended in August 2022, according to an official announcement.
Lyon-Ready Direct DNA LAMP Saliva Mix and Lyo-Ready Direct RNA/DNA LAMP Saliva Mix are two brand-new, cutting-edge isothermal amplification solutions that Meridian Bioscience introduced in May 2022. These would be employed in point-of-care diagnostic tests for the rapid identification of DNA and RNA.
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