Global Nucleic Acid Testing Market
Global Nucleic Acid Testing Market Report Description:
Global nucleic acid testing market report gives 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, global nucleic acid testing market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global nucleic acid testing 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 in global nucleic acid testing products.
Global Nucleic Acid Testing Market:
The global nucleic acid testing market valued at US$ 3,653.6 Mn in 2018 and estimated to grow at significant CAGR over the forecast years 2019-2025 due to increase in 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
Increase in the R&D for the Development of Newer Products
Increase in the R&D for the development of newer products is a major factor drive the global nucleic acid testing market over the forecast years. For instance, in June 2018, Grifols received FDA approval for two blood screening assays: Procleix Ultrio Elite and Procleix WNV. Procleix Ultrio Elite to detect HIV 1, Hepatitis C, Hepatitis B, and HIV 2 based on nucleic acid testing. Moreover, raise in funding for R&D also boost the market over the forecast timeframe. For instance, in 2016, The National Cancer Institute has reserved $3.9 Bn to fund the establishment of laboratories to advance research on assays for cancers of the breast, prostate, lung, and genitourinary organs.
North America Accounts for Larger Market Revenue Share in Global Nucleic Acid Testing Market
North America contributed largest share in 2018 with a share of approximately 42% due to increased incidence of certain types of cancers in USA and Canada. For instance, according to National Cancer Institute 2018, approximately 1,735,350 cases diagnosed with cancer in United States. Moreover, rise in R&D for the development of technologically advanced diagnostic methods and sophisticated healthcare infrastructure are bolster the market. Europe nucleic acid testing market contributed highest growth rate in 2018 and expected to grow at 6.3% CAGR over the forecast years owing to adoption of advanced technologies, surge in prevalence of infectious diseases, and favorable reimbursement policies in the region
Key player’s profiles in the global nucleic acid testing market include:
- bioMeriux, Inc.
- Bio-rad Laboratories, Inc.
- Abbott Laboratories
- Hoffmann La Roche Ltd.
- Qiagen N.V.
- Becton, Dickinson and Company
- Myriad Genetics, Inc.
- Quest Diagnostics
- Hologic, Inc.
- Grifols S.A.
- Illumina, Inc.
- Siemens AG
- Danaher Corporation
- Merck KGaA
Global nucleic acid testing market is surging owing to collaborations and product approvals by the market players. For instance, in July 2018, Abbott launched point-of-care nucleic acid test m-PIMA HIV-1/2 VL in the Netherlands for quick, accurate and easy management of HIV infection.
Key Findings of the Report:
- Global nucleic acid testing market expanding at significant CAGR over 2019 to 2025 owing to increase in the prevalence of cancer disease.
- Based on technology type, polymerase chain reaction accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global nucleic acid testing market
By Product Type
- Reagents and Kits
By Cancer Type
- Polymerase Chain Reaction
- Ligase Chain Reaction
- Whole Genome Sequencing
- Transcription-Mediated Amplification
By Profiling Technology
- Infectious Diseases
- Personalized Medicine
- Forensic Testing
- Hospitals and Clinics
- Diagnostic Centers
- Academic and Research Institutes
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2028)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market