Market Overview

Nucleic Acid Testing Market: Nucleic Acid Testing Kits Dominate Led by PCR High Costs Remain a Key Factor Hampering Adoption in Long Run: Global Industry Analysis 2012 -2016 and Opportunity Assessment 2017 - 2027

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Nucleic Acid Testing Market: Nucleic Acid Testing Kits Dominate Led by PCR High Costs Remain a Key Factor Hampering Adoption in Long Run: Global Industry Analysis 2012 -2016 and Opportunity Assessment 2017 - 2027

PR Newswire

LONDON, Sept. 13, 2018 /PRNewswire/ -- Nucleic Acid Test Kits to Witness Resilient Growth

Nucleic acid testing is widely used to treat infectious diseases caused by virus and bacteria, forensic testing, cancerous diseases, genetically related diseases and paternity testing/HLA typing. The convenience it offers makes it one of the highly preferred testing procedures in the healthcare industry. Nucleic acid tests help in identifying the issue without any previous indications, in addition to offering an additional layer of blood screening and resolving false reactive interpretations. Furthermore, it is an early detection process and is known to provide accurate analysis - faster than any other available procedure, and helps to narrow down infectious period, i.e. window period between the time of viral exposure and the time of serological detection of a virus.

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Increasing demand for nucleic acid testing form blood transfusion centers and blood banks will substantially secure the entire blood transfusion processes, which is anticipated to bolster the growth of the global nucleic acid testing market over the forecast period. The global market value is foreseen to reach beyond US$ 4,900 Mn by 2027 end. The market is lucrative, especially for nucleic acid test kits, which is dominated by high demand for polymerase chain reaction (PCR) in the global market. The PCR segment is expected to hold a market value of over US$ 2,300 Mn by the end of 2027, and a cumulative value for the nucleic acid test kits segment is estimated at over US$ 4,400 Mn by the end of forecast period.

Various factors are responsible for forming a favorable market environment for nucleic acid test products

Numerous forces are driving the growth of demand for nucleic acid testing products, which majorly includes the surge in rate of technological development in the healthcare industry. Several companies with extensive product offerings have developed in-house capabilities to generate high-quality products with short turn-around times to meet varying research requirements. Increasing demand for technologically advanced methods in sample preparation, extraction, and amplification and testing for nucleic acids such as DNA and RNA, and the strategic agreements of manufacturers with leading research institutes are expected to boost research activities in the molecular biology field. There is also a broadened scope of nucleic acid testing application globally, as manufacturers of molecular diagnosis devices and kits have been developing several products with the capability to be used in both clinical diagnostics as well as research applications. The increasing demand for advanced technology-based kits in various diagnostic aspects such as infectious diseases, cancer, forensic testing, paternity testing or HLA typing, turns to be the most effective force to facilitate to growth of nucleic acid testing market.

Safety concerns remain longstanding hurdle in market growth

The nucleic acid testing market still faces some limitations in its global demand surge. One of it is the safety concerns associated with the process.The adverse events and false operative functionality associated with the nucleic acid testing kits and reagents may hamper the demand for the product and restrain the growth of the nucleic acid testing market over the forecast period. A few emerging economies lack sophisticated infrastructure required for advanced technologies like nucleic acid testing. The improper development and implementation of clinical practice guidelines and dearth of skilled professionals in most of the countries, such as those in MEA and Latin America, will possibly continue to hinder the growth of the nucleic acid testing market.

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