Nucleic Acid Testing Market Scope
Nucleic acid testing is a molecular technique that is used for screening blood sample to reduce the chances or risk of transfusion transmitted infections during blood donation process. Also, it is used to detect cancer, infectious diseases and forensic. In 2015, World Health Organization (WHO) has estimated more than 5250 deaths were register due to influenza infection. Thus, increasing infectious diseases are responsible for growing nucleic acid testing market. Additionally, rising research funding for cancer treatment by different regional governments and private organizations are fueling the growth of the market as increasing the adoption of nucleic acid testing in cancer research programs.
According to AMA, the Global Nucleic Acid Testing market is expected to see growth rate of 9.8% and may see market size of USD3.53 Million by 2026.
The Players having a strong hold in the market are bioMerieux SA, Bio-rad Laboratories, Inc., Abbott Laboratories, Inc. and Beckman Coulter. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Nucleic Acid Testing market throughout the predicted period.
Bio-rad Laboratories, Inc. (United States), Becton Dickinson and Company (United States), Abbott Laboratories, Inc. (United States), Beckman Coulter, Inc. (United States), Illumina, Inc. (United States), Siemens Healthcare GmbH (Germany), Gen-probe, Inc. (United States), bioMérieux SA (France), Novartis International AG (Switzerland), Hoffmann-la Roche Ltd (Switzerland), Sequenom, Inc. (United States) and Tecan Group Ltd. (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Agilent Technologies (United States), Danaher Corporation (United States), Becton, Dickinson and Company (United States) and F. Hoffmann-La Roche Ltd. (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Nucleic Acid Testing market by Type (Nucleic Acid Test Kits and Consumables) and Region with country level break-up.
On the basis of geography, the market of Nucleic Acid Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On July 2018, Becton Dickinson had acquired TVA Medical to develop and innovate therapies for the treatment of end stage renal disease. Additionally, TVA Medical enables Becton Dickinson to offer innovative device to physicians who treat patients which are suffering from chronic kidney diseases.
On April 2019, Bio-Rad Laboratories, Inc has received approximately 510(k) (it is preclearance made by FDA to demonstrate that the device to be marketed is at least as safe and effective) from the U.S. Food and Drug Administration for Bio-Rad’s IH-500. Bio-Rad’s IH-500 system is designed for small- to medium-size laboratories and the system offers automated blood typing and screening.
Market Trend
- Rising Adoption of Nucleic Acid Testing for Blood Screening
- Increasing Safety Awareness Related to Blood Donation due to Increasing Infectious Diseases
Market Drivers
- Increasing Number of Blood Donors
- Rising Awareness of Infectious Diseases
- Increasing Safety Concern of Donated Blood
Opportunities
- Increasing Funding by Regional Governments and Private Organizations Results in an Innovation in Nucleic Acid Testing
Restraints
- High Operating Cost and Capital Expenditure
- Presence of Alternative for Nucleic Acid Testing
Challenges
- High Cost of Nucleic Acid Testing
Key Target Audience
Healthcare industry, NGOs, Testing Laboratories and Others