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Nucleic acid testing is a technique for the detection of viral DNAs and RNAs in a blood sample. This technique is highly sensitive and specific for viral nucleic acids, and is widely used to detect HIV, hepatitis B virus (HBV) and hepatitis C virus (HCV) infections. It is among the most convenient and widely preferred tests, thus highly is utilized disease diagnostics and monitoring. Nucleic acid testing also reduces the window period through direct detection of viral nucleic acid sequences and helps in prevention of transfusion of infected blood component and therefore exposure to life-threatening diseases.
According to data published by the UNAIDS, in 2018, 37.9 million people are already suffering from HIV and 1.7 million new HIV cases has been found, globally. As a result, the demand for nucleic acid testing is rising, thereby significantly fueling the global market growth. Additionally, according to the World Health Organization (WHO), in 2018, around 500 million people were infected with hepatitis B virus (HBV) and hepatitis C virus (HCV) worldwide. Thus, requirement for nucleic acid testing has been considerably increasing, which further contributes to the market growth.
Growing precision in nucleic acid testing technology boosting the market growth
There has been a consistent growth in demand for novel nucleic acid testing methods in context to sample extraction, preparation, testing and amplification. Moreover, various research and development activities striving to introduce advanced testing solutions are further contributing to the growth of nucleic acid testing market globally. For instance, in September 2018, the National Institute of Singapore invented a new point of care diagnostic device for nucleic acid testing. This device is extremely sensitive, fast & accurate, and thus is anticipated to witness positive demand in the years to come. However, high cost associated with this test, along with limited reimbursement are some factors likely to hamper the market growth.
Rising incidence of chronic disease such as cancer and genetic mutations to witness higher penetration of nucleic acid tests
Currently, nucleic acid testing is widely used in oncology. Genetic factors such as inherited mutations (changes in DNA sequences) may cause cancer risk. In this case, nucleic acid testing can identify the inherited mutations and therefore may help in prevention of the risk of cancer incidence. Hence, this factor is likely to boost the global nucleic acid testing market.
North America anticipated to retain its stronghold on the global market
Geographically, the nucleic acid testing market is classified into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. However, North America is likely to hold the largest market share through the forecast period. Increasing investment in R&D and building healthcare infrastructure are some supporting the future growth of nucleic acid testing market. Asia Pacific is expected to be the fastest growing market for nucleic acid testing owing to rapidly developing healthcare industry and rising awareness regarding diagnosis and management of life-threatening diseases. Evolving skills of medical professionals in the region is also among the key attributes to the progress of Asia Pacific market during the forecast period.
Key Market Players
Market Segments: Nucleic acid testing market
Key Sources
Key Questions Answered
Key Stakeholders
Nucleic acid testing is a technique for the detection of viral DNAs and RNAs in a blood sample. This technique is highly sensitive and specific for viral nucleic acids, and is widely used to detect HIV, hepatitis B virus (HBV) and hepatitis C virus (HCV) infections. It is among the most convenient and widely preferred tests, thus highly is utilized disease diagnostics and monitoring. Nucleic acid testing also reduces the window period through direct detection of viral nucleic acid sequences and helps in prevention of transfusion of infected blood component and therefore exposure to life-threatening diseases.
According to data published by the UNAIDS, in 2018, 37.9 million people are already suffering from HIV and 1.7 million new HIV cases has been found, globally. As a result, the demand for nucleic acid testing is rising, thereby significantly fueling the global market growth. Additionally, according to the World Health Organization (WHO), in 2018, around 500 million people were infected with hepatitis B virus (HBV) and hepatitis C virus (HCV) worldwide. Thus, requirement for nucleic acid testing has been considerably increasing, which further contributes to the market growth.
Growing precision in nucleic acid testing technology boosting the market growth
There has been a consistent growth in demand for novel nucleic acid testing methods in context to sample extraction, preparation, testing and amplification. Moreover, various research and development activities striving to introduce advanced testing solutions are further contributing to the growth of nucleic acid testing market globally. For instance, in September 2018, the National Institute of Singapore invented a new point of care diagnostic device for nucleic acid testing. This device is extremely sensitive, fast & accurate, and thus is anticipated to witness positive demand in the years to come. However, high cost associated with this test, along with limited reimbursement are some factors likely to hamper the market growth.
Rising incidence of chronic disease such as cancer and genetic mutations to witness higher penetration of nucleic acid tests
Currently, nucleic acid testing is widely used in oncology. Genetic factors such as inherited mutations (changes in DNA sequences) may cause cancer risk. In this case, nucleic acid testing can identify the inherited mutations and therefore may help in prevention of the risk of cancer incidence. Hence, this factor is likely to boost the global nucleic acid testing market.
North America anticipated to retain its stronghold on the global market
Geographically, the nucleic acid testing market is classified into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. However, North America is likely to hold the largest market share through the forecast period. Increasing investment in R&D and building healthcare infrastructure are some supporting the future growth of nucleic acid testing market. Asia Pacific is expected to be the fastest growing market for nucleic acid testing owing to rapidly developing healthcare industry and rising awareness regarding diagnosis and management of life-threatening diseases. Evolving skills of medical professionals in the region is also among the key attributes to the progress of Asia Pacific market during the forecast period.
Key Market Players
Market Segments: Nucleic acid testing market
Key Sources
Key Questions Answered
Key Stakeholders