Isothermal Nucleic Acid Amplification Technology Market Research Report 2024

"Isothermal Nucleic Acid Amplification Technology Market" in terms of revenue was estimated to be worth $4.53 billion in 2023 and is poised to reach $8.91 billion by 2031, growing at a CAGR of 8.94% from 2024 to 2031 according to a new report by InsightAce Analytic.

Market Analysis:
The growing need for rapid, easy-to-use, disease-specific diagnostic instruments among consumers is driving up demand for isothermal nucleic acid amplification technology. Additionally, developing countries' expanding healthcare infrastructure and growing disposable income are probably going to contribute to the expansion of the isothermal nucleic acid amplification technology market.

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the isothermal nucleic acid amplification technology market are:
• Increasing frequency of infectious illnesses
• Growing preference for INAAT vs PCR
• Increase in the need for affordable and efficient diagnostic techniques

The following are the primary obstacles to the isothermal nucleic acid amplification technology market's expansion:
• Lack of knowledge about new diagnostic technology
• Competition from PCR technologies will offer a significant barrier
• Adverse reimbursement conditions for diagnostic tests conducted in vitro

Future expansion opportunities for the isothermal nucleic acid amplification technology market include:
• Use of assays for RNA and DNA amplification using loop-mediated isothermal amplification (LAMP) and the detection of genetically modified organisms (GMOs)
• Increased investments in R&D activities
• continuing development of INAAT for detecting coronavirus disease (COVID-19)

Key Industry Insights & Findings from the Report:

• The isothermal nucleic acid amplification technology market should grow as a result of rising disposable income and improved healthcare infrastructure in developing nations.
• It is anticipated that rising rates of infectious and antimicrobial diseases, along with rising R&D expenditures for the development of novel automated diagnostic tools, will fuel a growing demand for isothermal nucleic acid amplification technology.
• North America dominated the market and accounted for a global revenue share in 2023.
• Due to developments in this technology for disease detection and diagnosis by assembling DNA with high specificity, efficiency, and speed under isothermal conditions, the loop-mediated amplification category accounted for the biggest revenue share by technology.

List of Prominent Players in the Isothermal Nucleic Acid Amplification Technology Market:
• Grifols, S.A. (Spain)
• Hologic, Inc. (US)
• Abbott Laboratories (US)
• Becton, Dickinson and Company (US)
• Meridian Bioscience (US)
• Eiken Chemical Co., Ltd. (Japan)
• bioMérieux SA (France)
• Tecan Trading AG (Switzerland)
• New England Biolabs (US)
• QIAGEN N.V. (Germany)
• DiaSorin Sp.A. (Italy)
• General Electric (US)
• OptiGene Limited (UK)
• Quidel Corporation (US)
• Thermo Fisher Scientific (US)
• Genomtec (Poland)
• Mast Group Ltd. (UK)
• Ustar Biotechnologies (China)
• Jena Bioscience GmbH (Germany)
• Atila BioSystems (US)
• TwistDx Limited (UK)
• LGC Limited (UK)
• Life Sciences Advanced Technologies (US)
• GenoSensor Corporation (US)
• PCR Biosystems (UK)

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Recent Developments:
• May 2022: Hologic, Inc. is a medical technology company that specializes in women's health. It offers medical devices for surgery, diagnostics, and imaging. Recently, two new molecular assays, called the Panther Fusion EBV Quant Assay and Panther Fusion BKV Quant Assay, received CE marking, adding to the company's portfolio of products for transplant pathogen monitoring on the Panther Fusion system.
• March 2022: Thermo Fisher Scientific has introduced a pair of novel RT-LAMP (reverse transcription loop-mediated isothermal amplification) solutions. Viral pathogen identification now has a quick and affordable option with its isothermal RT-LAMP nucleic acid-based amplification. The company will be able to expand its product portfolio with the aid of these product launches, which will accelerate its market growth.
• March 2020: Abbott announced that the FDA in the United States has granted an Emergency Use Authorization (EUA) for the quickest molecular point-of-care test available for the detection of the novel coronavirus (COVID-19), with positive results coming back in as little as five minutes and negative results in thirteen. Rapid findings are obtained in a variety of healthcare settings, including doctor's offices, urgent care centers, and hospital emergency rooms, thanks to the test's use of the company's ID NOW platform. With this launch, the company's product portfolio has grown, and its market position has strengthened.

Isothermal Nucleic Acid Amplification Technology Market Dynamics:
Market Drivers: Increase in Prevalence of Cancer
The aging population and rising rates of chronic diseases, together with the preference for INAAT over PCR and the growing need for affordable and efficient diagnostic techniques, are some of the key drivers propelling the market under study's expansion. Cancer was one of the leading causes of mortality globally, according to a February 2022 World Health Organization report. According to the report, 400,000 children are diagnosed with cancer annually, with 23 nations having the highest rate of cervical cancer. The International Agency for Research on Cancer (IARC) reported in December 2020 that there are now 19.3 million instances of cancer worldwide. Consequently, the need for efficient therapy or treatment is rising as a result of the high incidence of cancer worldwide, which is anticipated to fuel market expansion.

Challenges: Negative Consequences Linked to Isothermal Nucleic Acid Amplification Technology
The utilization of point-of-care applications for amplification techniques like PCR is hampered by the need for instrumentation capable of heat cycling and temperature control. One important factor limiting the growth of the sector is the regulatory framework that directs the development of INAAT-based diagnostics. The challenges associated with manufacturing INAAT are increased by the stringent rules enforced by regulatory bodies such as the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan, the U.S. FDA, and the European Medicines Agency (EMAA) to oversee the manufacturing processes of INAAT production.

North America is Expected to Grow with the Highest CAGR During the Forecast Period
In North America, the isothermal nucleic acid amplification technology market is likely to register a significant revenue share and develop at a rapid CAGR over the forecast period because of the region's well-established research infrastructure and the rise in need for diagnostics based on nucleic acid amplification to avert pandemics. The market will expand due to factors such as increased per capita healthcare spending and growing interest in point-of-care diagnostic procedures. Similarly, the expansion of regional trade is supported by the region's quick adoption of new and cutting-edge technology, given the increased incidence of contagious diseases. Additionally, the market is growing due to the increasing number of studies being done to develop better diagnostic tests for infectious diseases, the surge in demand for INAAT systems and kits, and the expanding use of such consumables in the region.

Segmentation of Isothermal Nucleic Acid Amplification Technology Market-
By Product
• Assays
• Systems

By Technology
• TMA
• LAMP
• SDA
• NASBA
• SPIA
• NEAR
• HAD

By Application
• Diagnosis
• Blood Screening
• Other Applications

By End-users
• Hospitals
• Reference Laboratories
• Academic & Research Laboratories
• Other End-users

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.