The global Nucleic Acid Amplification Testing Market was valued at USD 7.3 Billion in 2022 and it is anticipated to grow up to USD 24.5 Billion by 2032, at a CAGR of 12.8% during the forecast period.
A Nucleic Acid Amplification Test, or NAAT, is a type of viral diagnostic test for SARS-CoV-2, the virus that causes COVID-19. NAATs detect genetic material (nucleic acids). NAATs for SARS-CoV-2 specifically identify the RNA (ribonucleic acid) sequences that comprise the genetic material of the virus.
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Market Trends and Drivers
Increase in demand for the advanced rapid diagnostics and rising R&D investments for the development of novel biotechnological diagnostic techniques are the factors fueling the market growth. In addition, high global prevalence of the communicable diseases and need for the highly efficient testing alternatives for the successful management of disease outbreaks has propelled demand for the several nucleic acid amplification testing technologies. Emerging infectious diseases, such as the Monkeypox virus, are opening new avenues for market growth and is evident by the launch and regulatory approval of nucleic acid amplification test products for such diseases. For instance, in September 2022, Quest Diagnostics received the U.S. FDA’s Emergency Use Authorization (EUA) for its Quest Monkeypox PCR test launched in July 2022. Similarly, in August 2022, Todos Medical Ltd. commercially launched its Monkey Pox PCR-based test in the U.S. Hence, such novel infections are expected to further expand the market growth.
Market Restraints and Challenges
There are several key restraints and challenges in the Nucleic Acid Amplification Testing market. First, encryption can be a complex and resource-intensive process, particularly for large banks with thousands of customers and transactions. Second, encryption can also be vulnerable to attack, and banks must constantly update and improve their encryption software to stay ahead of the latest threats. Finally, encryption can also impede the ability of law enforcement and other government agencies to access data for criminal investigations, which can be a major challenge in some cases.
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Global Nucleic Acid Amplification Testing Market Segmentation
By Type
- Polymerase Chain Reaction (PCR) tests
- Isothermal Nucleic Acid Amplification Technology (INAAT) tests
- Ligase Chain Reaction (LCR) tests
By Application
- Infectious Disease Testing
- Oncology Testing
- Genetic & mitochondrial disease testing
- Others
Major Players in the Global Nucleic Acid Amplification Testing Market
The key players in the Nucleic Acid Amplification Testing Market F. Hoffmann-La Roche Ltd; Becton, Dickinson and Company; Danaher Corporation; Abbott Laboratories; Illumina, Inc.; Siemens Healthineers; bio Mérieux SA; Novartis AG; Bio-Rad Laboratories, Inc., See gene Inc., among others.
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