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The global nucleic acid testing market size was USD 4.23 Billion in 2022 and is expected to reach USD 7.57 Billion in 2032, and register a revenue CAGR of 6.7%

NEW YORK CITY, NY, UNITED STATES, June 21, 2023/EINPresswire.com/ -- The global Nucleic Acid Testing Market was valued at USD 4.23 Billion in 2022. It is projected to reach USD 7.57 Billion by 2032, with a compound annual growth rate (CAGR) of 6.7% during the forecast period. The market's revenue growth is primarily fueled by the increasing prevalence of infectious diseases and the demand for accurate and rapid diagnostic tests. Nucleic Acid Testing (NAT), a sensitive and specific technology for detecting viral, bacterial, and genetic diseases in blood samples, is a major driver behind this market growth.

Several factors contribute to the revenue growth of the nucleic acid testing market. These include the rising incidence of infectious diseases, advancements in NAT technology, and increasing government initiatives aimed at disease detection and control. The World Health Organization (WHO) recommends the use of NAT for diagnosing infectious diseases like Human Immunodeficiency Virus (HIV), hepatitis B and C, and other disorders. Additionally, the demand for NAT in blood screening tests, particularly in blood banks and plasma centers, is increasing as it helps identify viral infections in blood donors.

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Furthermore, the introduction of innovative and revolutionary NAT products, such as portable and point-of-care systems, is expected to drive market revenue growth. These technologies are particularly beneficial in rural and resource-limited areas due to their affordability and quick turnaround time for results. Automation in NAT is also contributing to market growth, as automated systems offer advantages over conventional techniques, including higher throughput, reduced effort, and improved efficacy.

Segments Covered in the Report –

• By Product Type, the nucleic acid testing market can be categorized into several segments. The first segment is PCR-based testing, which utilizes the polymerase chain reaction technique to amplify and detect specific DNA or RNA sequences. This method is widely used in various diagnostic applications due to its high sensitivity and specificity.

• Another product type is isothermal amplification, which refers to a group of techniques that amplify nucleic acids at a constant temperature. This approach eliminates the need for thermal cycling, making it simpler and more cost-effective compared to PCR-based methods.

• Microarray technology is also utilized in nucleic acid testing. It involves the simultaneous detection and analysis of multiple nucleic acid sequences on a solid surface, allowing for high-throughput testing and the identification of various genetic variations.

• Sequencing, a powerful technique that determines the precise order of nucleotides in a DNA or RNA molecule, is another important product type in the market. It has revolutionized the field of genomics and enables comprehensive analysis of genetic information for diagnostics and research purposes.

• Lastly, there are other product types in the nucleic acid testing market that may include emerging technologies or specialized approaches tailored to specific applications.

• Moving on to the Application Outlook, nucleic acid testing is widely employed in various areas. One significant application is infectious disease diagnosis. With the rising prevalence of infectious diseases worldwide, accurate and timely detection is crucial for effective management and control. Nucleic acid testing plays a vital role in identifying pathogens responsible for infections, such as viral or bacterial agents.

• Cancer diagnosis is another important application of nucleic acid testing. Genetic alterations and mutations play a significant role in the development and progression of cancer. Nucleic acid testing techniques, such as sequencing, allow for the identification of specific genetic changes associated with different types of cancer, enabling early detection, personalized treatment strategies, and monitoring of treatment response.

• Genetic testing, which involves analyzing an individual's DNA or RNA to identify genetic variations or mutations, is a broad application of nucleic acid testing. It is employed in various fields, including prenatal screening, carrier testing, pharmacogenomics, and disease risk assessment. Nucleic acid testing provides valuable information for genetic counseling, disease prevention, and personalized medicine.

• Lastly, there are other applications of nucleic acid testing that may encompass specific research or diagnostic purposes beyond infectious diseases, cancer, and genetic testing. This could include areas such as forensics, agriculture, or environmental testing, where nucleic acid analysis is utilized to detect and characterize specific targets of interest.

• In conclusion, the nucleic acid testing market encompasses various product types, including PCR-based, isothermal amplification, microarray, sequencing, and others. These products find applications in infectious disease diagnosis, cancer diagnosis, genetic testing, and other specialized fields. The continuous advancements in nucleic acid testing technologies contribute to improved diagnostics, personalized medicine, and advancements in scientific research across diverse disciplines.

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Strategic development:

• Abbott Laboratories made an announcement in 2021 about acquiring Walk Vascular, LLC, a medical device company focused on developing minimally invasive technologies for treating chronic venous disease. This acquisition is anticipated to complement Abbott's current portfolio of vascular products and enhance its market position in the global nucleic acid testing market.

• In 2021, Hologic, Inc. revealed its acquisition of Diagenode, a specialized company involved in the development and manufacturing of instruments and reagents for genomic research. This strategic move is expected to strengthen Hologic's molecular diagnostics capabilities and expand its product offerings within the nucleic acid testing market.

• Bio-Rad Laboratories, Inc. announced a significant collaboration with Seegene, Inc., a molecular diagnostics company based in South Korea, in 2020. The primary objective of this collaboration was to jointly develop and commercialize multiplex molecular diagnostic tests for infectious diseases, including COVID-19, utilizing Bio-Rad's droplet digital PCR technology.

• Danaher Corporation successfully completed the acquisition of General Electric Company's (GE) biopharmaceutical business in 2020. This acquisition aimed to expand Danaher's presence in the life sciences sector and bolster its position in the global nucleic acid testing market.

Competitive Landscape:

• The global nucleic acid testing market is home to several key players who play a significant role in driving innovation, developing advanced technologies, and shaping the industry landscape. Among these prominent companies are Abbott Laboratories, Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Hologic, Inc., Qiagen N.V., Siemens Healthineers AG, and Thermo Fisher Scientific, Inc.

• Bio-Rad Laboratories, Inc. is recognized for its expertise in life science research and diagnostics. Their extensive portfolio includes nucleic acid testing products and solutions that provide accurate and reliable results for various applications.

• Danaher Corporation is a global science and technology innovator that has made significant strides in the nucleic acid testing market. With a focus on life sciences and diagnostics, Danaher delivers cutting-edge solutions through its subsidiaries, contributing to advancements in disease diagnosis and management.

• F. Hoffmann-La Roche Ltd. is a renowned pharmaceutical and diagnostics company that has a strong presence in the nucleic acid testing market. They offer a comprehensive range of diagnostic assays and instruments, enabling precise and timely detection of diseases.

• Hologic, Inc. is a leading provider of diagnostic solutions, including nucleic acid testing technologies. They strive to develop breakthrough innovations in molecular diagnostics, contributing to improved patient outcomes and healthcare efficiency.

• Thermo Fisher Scientific, Inc. is a leading provider of scientific tools and services, including nucleic acid testing platforms and reagents. Their comprehensive offerings support various research and diagnostic applications, enabling scientists and clinicians to make impactful discoveries and decisions.

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These companies, through their expertise and continuous efforts in research and development, are driving the growth and advancement of the global nucleic acid testing market, contributing to improved disease detection, management, and patient care.

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