The Global Nucleic Acid Testing Market is slated for rapid growth owing to the increasing demand for nucleic acid kits from blood transfusion centers and blood banks. Crucial insights into this developing market have been shared by Fortune Business Insights in its report, titled “Nucleic Acid Testing Market Size, Share and Global Trend By Technology (Polymerase Chain Reaction, Ligase Chain Reaction, Transcription-mediated Amplification, Whole Genome Sequencing), By Application (Disease Diagnosis, Forensic Testing, Personalized Medicine, Others), By End User (Hospitals, Specialty Clinics, Diagnostic Centers, Academic & Research Institutes), and Geography Forecast Till 2026”.
The report enunciates the influential factors driving the growth of this emerging market. Nucleic acids are essentially molecules carrying genetic information that is passed down from parents to their children. They are special because they can combine with proteins and become protein-carrying machines called ribosomes. A nucleic acid test is a molecular procedure to detect viruses and bacteria in a human body using a semi-automated system. It helps in the early detection of infections, especially in blood and organ donors.
Considerable Advantages of Nucleic Acid Testing Expected to Widen Market Size
The global nucleic acid testing market is expected to exhibit considerable growth in the forecast period as nucleic acid testing devices provide a plethora of advantages. According to the book ‘Molecular Medical Microbiology’, the main advantages of nucleic acid testing methods include greater sensitivity of samples compared to blood cultures, ease in collection and storing of specimens, and their ability to be multiplexed and automated. Moreover, advanced nucleic acid tests such as Polymerase Chain Reaction (PCR) kits have been proven to be accurate than traditional blood cultures. As a result, PCR kits are expected to see an even greater increase in demand during the forecast period. This, along with a rise in research activities in the public and private healthcare sector, will fuel the global nucleic acid testing market.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Beckman Coulter
- Bio-Rad Laboratories
- Siemens Healthineers
- Hologic, Inc.
- bioMérieux SA
- F. Hoffmann-La Roche Ltd.
- Tecan Trading AG.
Serious Disadvantages to Create Roadblocks for the Market
Despite its advantages, nucleic acid testing systems possess some noticeable disadvantages that can hinder the growth of the global nucleic acid testing market. Some of them include lack of infrastructural facilities in hospitals and clinics, possibility of false-positive results, high cost of treatment, inability to provide data on antibiotic susceptibility, and deficiency of trained technical expertise. These factors can hold back the market to reach its full potential.
Rising Investments in Research Intensifying Competition in the Market
Investments in research by private healthcare organizations and companies is expected to the fuel the global nucleic acid testing market during the forecast period. The market is also witnessing increasing competition with companies pulling all stops to diversify their product portfolios. For example, the NALFIA rapid detection test for detecting DIG/Biotin and/or FITC Biotin-labelled analytes was launched by Abingdon Health in early 2019. About six months prior to Abingdon, scientists at the National University of Singapore developed ‘enVision’, a portable point-of-care nucleic acid test.
Fortune Business Insights identifies certain key players having significant market presence. They include Novartis AG (Switzerland), Illumina, Inc. (USA), Tecan Trading AG (Switzerland), bioMérieux SA (France), Siemens AG (Germany), and a few others.
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