The nucleic acid testing market is projected to grow at a rate of 7.2% in terms of value, from USD 2.65 Billion in 2022 to reach USD 4.70 billion by 2030. Nucleic acid testing (NAT) is a kind of molecular method deployed for in cases such as blood donations to screen the blood so as to decrease the danger of TTIs (transfusion-transmitted infections) in the individual receiving the blood. The main application of the nucleic acid test is associated with detecting viral RNAs and DNAs in a blood sample.
It is because of the convenience associated with nucleic acid testing; it has turned out to be one of the most highly used and preferred testing processes in the healthcare sector. In the absence of any previous indications, a health issue can be identified with the help of nucleic acid tests. The nucleic acid test is also helpful in dealing with false reactive interpretations. It is considered as a detection process that, apart from providing accurate analysis, is one of the fastest available procedure as compared to other testing processes.
Various factors are promoting the growth and demand for nucleic acid testing. One of these contributing factors is an increase in the rate of technological advancements in the healthcare industry. An increase in the demand for technologically advanced methods in context to sample extraction, preparation, testing, and amplification for nucleic acid-like RNA and DNA along with strategic agreements with manufacturers of renowned research institutions are promoting research activities, which is forecasted to have a positive impact on the market.
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Applicability of nucleic acid testing in detecting pathogens in the blood is a significant factor in boosting the market. An increase in the rate of incidence of healthcare conditions like genetic disorders and chronic diseases like cancer have occurred in the last decade. Such an increase in the mentioned healthcare conditions is one of the primary driving factors for the market. The fact that nucleic acid testing helps in early identification of these health conditions is a reason for its high application in the healthcare sector, further promoting the market.
Additionally, the usage of nucleic acid tests in the detection of SARS-COVID-19 antigen in the human body is the foremost reason behind the market growth in the current year.
Despite the significant advantages associated with nucleic acid testing, safety concerns related to the process remains a significant obstacle in its market growth.
Product Type Outlook:
In context to product type, Polymerase Chain Reaction (PCR) contributed to the largest market share of over 38.0% in the year 2022 and is forecasted to maintain its market dominance throughout the period 2022-2030. The reason for its market dominance is due to its low cost and diverse applicability in DNA typing, cloning, disease detection, mutation analysis, structural analysis, mapping, and.
Application Outlook:
The fastest growth rate in the application segment is observed in cancer. The increasing demand for nucleic acid testing in this application is owing to its ability to identify the condition in the early stage, as well as rising occurrences of the disease. Cancer has a significant impact on society in the US and across the globe. It has been estimated that 1,735,350 new cancer cases were diagnosed in the US, and 609,640 people suffered death from the disease. The number of new incidences of cancer is 439.2 per 100,000 men and women annually, and the number of cancer-related morbidities is 163.5 per 100,000 men and women annually. In the year 2017, an estimated USD 147.30 billion was spent on cancer care in the US. The use of these imaging techniques is causative of the increasing market demand.
End-User Outlook:
Among the end-users, academic and research institutions held the largest market share of about 28.0% in 2022 and is likely to grow at a rate of 7.6% in the forecast period. The reason for the dominance of this segment is because of continuous effort for the development of nucleic acid testing and increase in its arena of applicability.
Highest held a market share of over 20.0% in 2022 and is forecasted to have the fastest growth rate of 7.8% during the forecast period. The reason for its high growth rate is a rise in the rate of the occurrences rate of cancer that would result in increasing the applicability of nucleic acid testing for early identification of the condition in hospitals.
Regional Outlook:
North America holds the largest market share of about 38.0% in the year 2022. An increase in spending on healthcare, higher investment in R&D, established healthcare infrastructure are some of the reason for its dominance.
The Asia Pacific region is forecasted to be the fasted growing market in the forecast period, which is forecasted to hold over 24.0% of the market share by 2030 growing with a rate of 10.3% in the forecast period. The reason for its high growth rate is because of enhancing healthcare infrastructure, geographic expansion of key players in this region, and increasing initiatives by the government to promote the market in this region.
Market-O-Nomics
- An increase in demand for nucleic acid testing from blood banks and blood transfusion is predicted to secure blood transfusion processes that are forecasted to promote the nucleic testing market during the forecast period.
- In context to technique, Target amplification systems can be seen to hold the largest market share of 65.0% in 2018. The reason for its market dominance is high efficiency and simplicity as compared to other techniques.
- Growing awareness and acceptance among end-users is another factor contributing to the growth rate of the market.
- Apart from the increase in the rate of occurrence of infectious diseases, genetic disorder and cancer increased end-user acceptance, and a rise in demand for technological advancements in testing methods are some other essential drivers of this market.
- Favorable regulatory mechanism across the globe is another contributing factor for the market growth of the nucleic acid testing industry.
- Due to the applicability of nucleic acid testing in the identification of infectious diseases, it forecasted to hold about 36.0% of the market by 2030.
- There are certain unique factors associated with testing, like determining resistance to particular antibiotics, fastidious bacteria, among others. Association of the testing process with these unique factors also increases its application in infectious disease identification, which has a positive impact on the market.
Competitive Landscape
Key participants include Applied Gene Technologies, Abbott, Affymetrix, Becton, Dickinson and Company, Illumina, Inc., Bio-Rad, Diadexus, Elitech Group, Exact Sciences, Kreatech/Leica, Perkin Elmer/Caliper, and Siemens Healthineers, among others.
The players operating in the market have undertaken a number of strategies related to the market in the period 2017-2022. Some of the key highlights are:
- In March 2022, Abbott declared about the receiving of Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA) for molecular point-of-care test to detect COVID-19, providing results about the presence of the disease in about five minutes and about the absence in 13 minutes.
Start-up Traction
The industry offers numerous growth opportunities. Thus, a number of startups providing innovative products and technologies have been entering the market. The industry poses a significant amount of opportunities for small manufacturers and startups to come up with cost-effective solutions in nucleic acid testing. Many innovative startups, such as DnaNudge that are growing remarkably have been profiled in the report with all their innovative techniques and developments. There is a continuous growth in demand from the end-users, which can encourage several startups to launch innovative products in this market.
Deal Landscape
Mergers and Acquisitions are an integral part of the industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- In December 2017, Siemens Healthineers made an announcement about entering into an agreement for the acquisition of Fast Track Diagnostics (FTD), based in Luxembourg, which supplies diagnostic kit to differentiate amongst bacterial, viral, or other infections in a single test. Test by FTD is real-time PCR (Polymerase Chain Reaction) kits, enabling the amplification of nucleic acids in laboratory specimens, permitting the diagnosis of infections by taking a small specimen from patients.
Expert Insights:
Reports and Data forecasts promising developments for increased adoption of nucleic acid testing. According to industry experts, the use of testing in the detection of infectious diseases is garnering significant traction in the market. New companies entering the industry would emphasize designing and developing innovative products, thereby catering to the increasing requirement of end-users.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2022 to 2030. The scope of the report can be defined as:
For the purpose of this study, Reports and Data have segmented the nucleic acid testing market on the basis of product type, technique, application, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2022-2030)
- Ligase Chain Reaction
- Polymerase Chain Reaction (PCR)
- Transcription-mediated Amplification (TMA)
- Consumables
- Whole Genome Sequencing
Technique Outlook (Revenue, USD Million; 2022-2030)
- Probe Amplification Systems
- Target Amplification Systems
- Signal Amplification
Application Outlook (Revenue, USD Million; 2022-2030)
- Infectious Diseases
- Viral Detection & Load
- Viral & Bacterial Genotyping
- Bacterial Tests
- Genetic And Mitochondrial Disorders
- Genetic Testing
- Disease Predisposition
- Cancer
- Chromosomal Aberrations
- Cervical Cancer Screening
- Breast Cancer
- Forensic Testing
- Paternity Testing/Hla Typing
- Personalized Medicine
End-User Outlook (Revenue, USD Million; 2022-2030)
- Government-Regulated Clinical Laboratories
- Hospitals
- Clinics
- Academic And Research Institutions Dermatology
- R&D Centers
Regional Outlook (Revenue, USD Million; 2022-2030)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- Rest of the Middle East and Africa
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