Nucleic Acid Testing Market: By Technique (Probe Amplification, Target Amplification, Signal Amplification), By Application (Cancer, Infectious Diseases, Genetics, Personalized Medicine), By End User (Hospitals, Diagnostic Centers, Research organizations, Others) and Geography  

Nucleic acid testing market size was valued at USD 3.1 billion in 2022 and  is poised to grow at a significant CAGR 6.3% from 2023-2029. Nucleic acid testing market report gives a comprehensive outlook on nucleic acid testing across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of product type, technology, application, end user, and region. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the market include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged. Nucleic acid testing market is estimated to grow at significant CAGR over the forecast years 2022-2028 due to an increase in the prevalence of certain types of cancers and infectious diseases across the globe. For instance, according to WHO 2018 data, approximately 9.6 Mn death occurred due to cancer around the globe. Moreover, rise in R&D for the development of advanced technologies for nucleic acid testing, increased in demand for early stage disease diagnosis and personalized medicine, raise in funding from public and private sectors for the healthcare infrastructure development, and surge in demand for nucleic acid testing from blood banks are anticipated to boost the market over the forecast timeframe. However, stringent regulatory guidelines, high cost and complexity in the testing, and lack of skilled professionals and sophisticated healthcare infrastructure in underdeveloped countries are hinder the growth of market in future years.