Nucleic Acid Amplification, Detection and Diagnostics Market
Number of pages: 100 | Report Format: PDF | Published date: February 02, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 19.359 billion |
|
Revenue Forecast in 2030 |
US$ 57.23 billion |
|
CAGR |
12.8% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Nucleic Acid, Process, Technology, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global nucleic acid amplification, detection, and diagnostics market was valued at US$ 19.359 billion in 2021 and is expected to register a revenue CAGR of 12.8% to reach 57.23 billion by 2030.
Nucleic Acid Amplification, Detection, and Diagnostics Market Fundamentals
Nucleic acid amplification, detection, and diagnostics refer to a group of laboratory techniques used to detect and diagnose specific sequences of DNA or RNA in a sample. These techniques involve amplifying or making many copies of a targeted nucleic acid sequence so that it can be more easily detected and analyzed. Some common examples of nucleic acid amplification techniques include polymerase chain reaction (PCR) and loop-mediated isothermal amplification (LAMP). These techniques are widely used in medical diagnostics, genetic testing, and research.
Nucleic acid amplification tests (NAATs) are extremely sensitive and specific. They are used in clinical settings to detect and diagnose infections. They are also used to monitor the effectiveness of treatments, such as antiviral drugs, and monitor the spread of pathogens in communities. Nucleic acid amplification tests have revolutionized how infectious diseases are diagnosed and managed, allowing for more accurate and timely diagnoses and treatments. Nucleic acid amplification testing offers the most precise detection of the target entities. The technique is mostly used for the detection of infectious agents. Nucleic acid amplification and detection have also been extensively studied for applications in cancer, personalized medicine, and forensics.
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Nucleic Acid Amplification, Detection, and Diagnostics Market Dynamics
The growing incidence of infectious diseases has resulted in an increased demand for nucleic acid amplification, detection, and diagnostic products, which is a major factor driving the market revenue growth. This is due to the need for accurate and timely diagnosis of these illnesses to aid in effective treatment and disease management. For instance, according to March 2022 report by World Health Organization, around 1.3 to 4 million cases of cholera are reported each year, with approximately 21,000 to 143,000 fatalities worldwide. Technological advancements enabled novel and innovative nucleic acid amplification detection and diagnostics solutions, such as real-time PCR and digital PCR, increasing customer demand. Government organizations and various firms all over the globe are investing in the research and development of nucleic acid amplification, detection, and diagnostics products, as well as encouraging their usage in disease management, which is boosting demand for these goods. Major firms are involved in partnerships, mergers, and acquisitions, which eventually help the market expand.
However, nucleic acid amplification, detection, and diagnostic tests face competition from other diagnostic methods, such as antigen-based tests, which are faster and less expensive. Additionally, the lack of skilled personnel to operate and interpret, the high costs of the devices, and the shortage of adequate infrastructure are some of the restraints that impede the overall market revenue growth.
Nucleic Acid Amplification, Detection, and Diagnostics Market Ecosystem
The global nucleic acid amplification, detection, and diagnostics market is analyzed from four perspectives: nucleic acid, process, technology, application, and region.
Nucleic Acid Amplification, Detection, and Diagnostic Market by Nucleic Acid
Based on the nucleic acid type, the global nucleic acid amplification, detection, and diagnostics market is segmented into deoxyribonucleic acid (DNA) and ribonucleic acid (RNA).
The deoxyribonucleic acid (DNA) segment accounted for the principal revenue share of the market in 2021, attributed to the increasing prevalence of infectious diseases, advancements in DNA sequencing technology, and government initiatives promoting the usage of these products in disease management. Additionally, governments worldwide are investing in the research and development of DNA-based diagnostics and promoting their usage in disease management, which is driving the demand opportunities in the deoxyribonucleic acid segment. The increasing usage of point-of-care testing, which allows for rapid and accurate diagnosis of infectious diseases, drives the need for DNA-based diagnostics. These factors contribute to the overall revenue growth of the deoxyribonucleic acid amplification, detection, and diagnostics market.
Nucleic Acid Amplification, Detection, and Diagnostic Market by Process
Based on the process, the global nucleic acid amplification, detection, and diagnostics market is segmented into diagnostics & detection and amplification.
The diagnostics and detection segment in the nucleic acid amplification, detection, and diagnostic market includes a wide range of products and technologies used to detect and diagnose diseases. These include PCR-based diagnostic tests and other nucleic acid amplification techniques, such as loop-mediated isothermal amplification (LAMP) and transcription-mediated amplification (TMA). These techniques detect and quantify specific genetic sequences in a sample, which can be used to diagnose a wide range of diseases, including infectious diseases, cancer, and genetic disorders. The diagnostic and detection segment is expected to grow at a significant CAGR during the forecast period as the technology becomes more widely adopted in clinical settings and new applications for nucleic acid amplification techniques are developed. Additionally, the increasing demand for point-of-care testing and the growing focus on precision medicine are expected to drive revenue growth in this market segment.
Nucleic Acid Amplification, Detection, and Diagnostic Market by Technology
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Based on the technology, the global nucleic acid amplification, detection, and diagnostic market is segmented into polymerase chain reaction (PCR), next-generation sequencing (NGS), isothermal amplification technology, direct nucleic acid detection, and CRISPR-Cas9.
The polymerase chain reaction (PCR) segment dominated the market with the largest revenue share in 2021, owing to the rising prevalence of various diseases, such as cancer and infectious diseases. PCR is used to amplify a specific segment of DNA. It is commonly used in genetic research, medical diagnostics, and forensic science. In the nucleic acid amplification, detection, and diagnostic market, PCR is widely used for detecting and quantifying specific genetic sequences in a sample. PCR-based diagnostic tests are used to detect a wide range of diseases, including cancer, infectious diseases, and genetic disorders. These aspects are expected to boost the overall market revenue growth.
Nucleic Acid Amplification, Detection, and Diagnostic Market by Application
Based on the application, the global nucleic acid amplification, detection, and diagnostics market is segmented into infectious diseases, genetic diseases, oncology, forensic testing, paternity testing, and others.
Owing to the surging incidence of COVID-19 globally, the infectious diseases segment accounted for the principal share of the nucleic acid amplification, detection, and diagnostics market in 2021. According to WHO’s COVID-19 dashboard, as of January 2023, there are 664,097,132 confirmed cases of COVID-19 and 6,716,108 deaths. Moreover, the COVID-19 pandemic played a vital role in the revenue growth of the infectious diseases segment, where diagnostic tests are critical to control and mitigate the spread of the disease.
Nucleic Acid Amplification, Detection, and Diagnostic Market by Region
Geographically, the global nucleic acid amplification, detection, and diagnostics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global nucleic acid amplification, detection, and diagnostics market in 2021, owing to the extensive research and development activities by various government and pharmaceutical organizations for infectious disease and cancer diagnosis. Additionally, the rising collaborations, mergers, and acquisitions between companies and academia in North America are also helping the nucleic acid amplification, detection, and diagnostics market to grow. For instance, Rite Aid announced a collaboration with Quest Diagnostics, a leading provider of diagnostic information services. With the partnership, Rite Aid’s more than 2,350 stores are expected to offer Quest PCR testing either through the drive-through or at-home specimen testing kits from stores.
Nucleic Acid Amplification, Detection, and Diagnostics Market Competitive Landscape
The prominent players operating in the global nucleic acid amplification, detection, and diagnostic market are:
Nucleic Acid Amplification, Detection, and Diagnostics Market Strategic Developments
The global nucleic acid amplification, detection, and diagnostics industry is projected to be valued at US$ 57.32 billion by 2030.
The nucleic acid amplification, detection, and diagnostics market is expected to register a revenue CAGR of 12.8% during the forecast period from 2022 to 2030.
The rising prevalence of infectious diseases, increasing adoption of molecular and nucleic acid testing, and continuous technological advancements are driving revenue growth in the global nucleic acid amplification, detection, and diagnostics market.
The deoxyribonucleic acid (DNA) segment dominates the nucleic acid amplification, detection, and diagnostics market.
Sysmex Corporation, Thermo Fisher Scientific, Siemens Healthineers AG, Abbott Laboratories Inc., and Bio-Rad Laboratories Inc are among the prominent market players.
*Insights on financial performance are subject to the availability of information in the public domain