Isothermal Nucleic Acid Amplification Technology Market To Generate Revenue worth $8,159.4 Million by 2030
- Published: February 2024
The global isothermal nucleic acid amplification technology market is projected to generate USD 8,159.4 million revenue by 2030, advancing at a CAGR of 9.4% during 2023–2030. The growth is attributed to the rising incidence of infectious diseases and large number of product launches. Additionally, the rising awareness of the early and precise diagnosis of diseases and of monitoring the progress of patient treatment drives the market. Moreover, the growth in the healthcare infrastructure and penetration of new technology are the significant factors in this regard.
Moreover, the recent development of highly selective INAAT kits and the rising frequency of HIV, hepatitis A and B, and venereal diseases are expected to drive the growth of this market. The growing popularity of INAAT solutions is essentially rising in response to the desire for easy, quick, and disease-specific testing choices.
At the root of all is the increasing prevalence of various chronic and infectious diseases. For instance, COVID-19 is global epidemic that has raised the demand for its accurate and early detection. Therefore, a number of globally operating biotechnology businesses have created new COVID-19 testing products based on INAAT and received FDA approval for their emergency use.
Disease Diagnosis Is Expected To Hold Largest Share
On the basis of application, the disease diagnosis category accounted for the largest market share, of 50%, in 2023, and it is further expected to maintain its dominance in the future. This is attributed to the increasing incidence of HIV, sexually transmitted diseases, and hepatitis A&B and the recent development of specific INAAT kits. Moreover, the increasing worries over antimicrobial-resistant strains of pathogens and the strengthening focus on the prevention of epidemic outbreaks in developing countries are expected to propel the category’s growth.
The blood screening category will witness the fastest growth over the forecast period. Due to the increasing need for blood testing worldwide and the increasing frequency of blood transfusions, blood screening is a crucial application of this technology. Here, INAAT is widely utilized for the evaluation of the blood quality by screening blood to be transfused for the presence of any infectious organism. Additionally, the expanding research efforts for the creation of INAAT devices that can identify several blood-borne infections and molecular biomarkers are predicted to increase the market’s growth prospects in this category.
In APAC, the isothermal nucleic acid amplification technology market is expected to witness lucrative growth in the coming years owing to the rising healthcare expenditure, surging adoption of advanced technologies, increasing scientific research, and economic growth. Additionally, the region has a high frequency of infectious diseases and other hereditary diseases, which call for early detection and, in turn, fuel the demand for novel diagnostic products.
Moreover, the growing number of collaborations of companies and launch of technological advanced products enhance the market presence of such products. For instance, in May 2022, Meridian Bioscience launched two advanced products for isothermal amplification: RNA/DNA LAMP and Lyo-Ready Direct DNA saliva master mixes. They are designed for directly detecting DNA and RNA in PoC diagnostic assays.
Furthermore, companies are collaborating with research institutions for supporting metabolic testing for diagnostic purposes. For instance, in August 2022, LGC Clinical Diagnostics signed a collaboration agreement with Stanford Medicine for supporting its global genetic and metabolic diagnostic testing initiatives. Under this agreement, the physician–scientists at Stanford Medicine are providing LGC with clinical guidance in recruiting and selecting rare donors’ blood samples whose pregnancy has been identified with a genetic abnormality.
Some of the major market players are Becton, Dickinson and Company, QIAGEN N.V., Quidel Corporation, bioMérieux SA, Abbott Laboratories, Meridian Bioscience Inc., Thermo Fisher Scientific Inc., Atila Biosystems, Grifols S.A., and Eiken Chemical Co. Ltd.