The global isothermal nucleic acid amplification technology (INAAT) market size is expected to grow from USD 1.9 billion in 2019 to USD 3.3 billion by 2024, at a CAGR of 11.0%
NEW YORK, Jan. 27, 2020 /PRNewswire/ --
The rising prevalence of infectious diseases and the introduction of newer pathogens, and the cost-benefits of INAAT is expected to drive the overall growth of the INAAT market
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The global isothermal nucleic acid amplification technology (INAAT) market size is expected to grow from USD 1.9 billion in 2019 to USD 3.3 billion by 2024, at a CAGR of 11.0% during the forecast period. The major factors driving the growth of this market include the rising prevalence of infectious diseases and the introduction of newer pathogens, the need for prompt diagnosis, the increasing number of blood transfusions and donations, and the cost-benefits of INAAT. However, the extensive usage and reliance on PCR are expected to limit the adoption of INAAT.
Assay, kits and reagents segment is expected to grow at the highest CAGR during the forecast period
Based on the product, the market is segmented broadly into assay, kits, and reagents, and systems.The assay, kits, and reagents segment is projected to grow at the highest CAGR during the forecast period.
The increasing number of infectious disease diagnostic tests carried out; the rising prevalence of infectious diseases; the continuous launch of newer, faster, and more reliable POC products; increasing approvals of CLIA-waived tests; accessibility to a wide range of reagents; repeated purchase of reagents; and the increasing use of reagents in therapeutics, basic research, and assay development.
TMA is expected to grow at CAGR during the forecast period
Based on type, the INAAT market is segmented into TMA, LAMP, SDA, HDA, NASBA, and other INAAT technologies. The TMA segment is expected to be the fastest-growing segment during the forecast period due to the growing reliance on POC diagnosis in hospitals and blood banks.
Infectious disease diagnosis segment to grow at the highest CAGR during the forecast period.
The INAAT market, by the applications, has been categorized into infectious disease diagnosis, blood screening, and other applications (cancer diagnosis, cancer research, and laboratory research, which encompass cDNA preparation, whole-genome amplification (WGA), single-nucleotide polymorphism (SNP), and mutation analysis). Infectious disease diagnosis segment to grow at the highest CAGR during the forecast period owing to the increasing number of infectious disease diagnostic tests carried out and rising prevalence of infectious diseases, among others.
Asia Pacific region to account for the largest share of the global INAAT market in 2019.
Asia Pacific is expected to be the fastest-growing segment during the forecast period. Factors such as the sustained economic growth in several Asia Pacific countries, the rising disposable income, healthcare infrastructure modernization, increasing penetration of cutting-edge diagnostic technologies (including INAAT) for research and clinical applications, high infectious disease burden, availability of low-cost POC INAAT assays, and growing awareness among physicians and healthcare professionals about the benefits of gene-based disease diagnosis and treatment in Asia Pacific countries are expected to support market growth in this region during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the INAAT market.
• By Respondent Type: Supply Side: 80%, Demand Side: 20%
• By Designation: C-level Executives: 25%, Directors: 18%, and Others: 57%
• By Region: North America: 50%, Europe: 20%, APAC: 20%, and RoW: 10%
The INAAT market comprises major players such as Grifols S.A. (Spain), Hologic, Inc. (US), Abbott Laboratories, Inc. (US), Becton, Dickinson & Company (US), and Meridian Bioscience (US). The study includes an in-depth competitive analysis of these key players in the INAAT market, along with their company profiles, recent developments, and key market strategies.
Research Coverage:
The study covers the INAAT market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on the product, type, application, end user, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information on the closest approximations of the revenue numbers for the overall INAAT market and its subsegments. This report will help the stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and provide information on key market drivers, restraints, and opportunities
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