Nucleic Acid Amplification Testing Market is anticipated to grow at a Robust CAGR of 12.8% during the forecast period 2023-2032

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.

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COVID-19 Impact:

The COVID-19 has increased demand for the rapid and accurate testing methods, such as nucleic acid amplification testing, for detection of the SARS-CoV-2 virus. Key players involved in the market have developed new product offerings, such as isothermal nucleic acid amplification technology-based tests, to meet high demand for the rapid testing and point-of-care testing. For instance, in March 2020, Abbott Laboratories received Emergency Use Authorization (EUA), for its Abbott ID NOW COVID-19 test which can deliver positive results within five minutes and negative results within 13 minutes. Such strategic initiatives fueled by the pandemic are expected to boost market growth in the near future.

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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

By End-use:
• Hospitals
• Central and reference laboratories
• 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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This release was published on openPR.