A recent report published by Infinium Global Research on the nucleic acid testing market provides an in-depth analysis of segments and sub-segments in global as well as regional nucleic acid testing market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional nucleic acid testing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global nucleic acid testing market. According to the report the global nucleic acid testing market is projected to grow at a CAGR of 7.9% over the forecast period of 2018-2024.
A nucleic acid is a naturally occurring chemical compound that is capable of being broken down to yield phosphoric acid, sugars, and a mixture of organic bases (purines and pyrimidines). Nucleic acids are the main information-carrying molecules of the cell, and, by directing the process of protein synthesis, they determine the inherited characteristics of every living thing. Nucleic acids are molecules that allow organisms to transfer genetic information from one generation to the next. Genetic diseases occur when errors are introduced into the genes that carry DNA; those errors create faulty RNA that creates faulty proteins that don't function the way they're supposed to. Cancer is caused by damage to DNA or interference with the mechanisms for its replication or repair.
Major growth drivers for the nucleic acid testing market include increasing prevalence of infectious diseases like cancer and genetic diseases, growing demand for technological advancements in testing methods and supportive regulatory mechanisms worldwide. However, the adverse events and false operative functionality associated with the nucleic acid testing kits and reagents may hamper the demand for the nucleic acid testing market product. Growing demand for new & improved testing methods that utilize new reagent systems and automated amplification systems in a wide range of applications will also provide this market with lucrative opportunities in the coming future.
Among the Geographies, North America dominated the nucleic acid testing market with the largest market share in terms of revenue. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing expenditure on healthcare and raising awareness about nucleic acid testing methods.
The report on the global nucleic acid testing market covers segments such as product type, indication, and end-user. On the basis of product type the global nucleic acid testing market is categorized into nucleic acid test kits and consumables. On the basis of indication the global nucleic acid testing market is categorized into infectious disease, cancer, forensic testing, and others. On the basis of end-user, the global nucleic acid testing market is categorized into hospitals, pathology laboratories, research institutes, and clinics.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global nucleic acid testing market such as, Abbott Laboratories, Inc., Becton Dickinson and Company, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Illumina, Inc., Siemens Healthcare, Gen-Probe, Inc., BioMérieux SA, Novartis AG, Hoffmann-La Roche Ltd, Sequenom, Inc. and Tecan Group Ltd.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global nucleic acid testing market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the nucleic acid testing market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the nucleic acid testing market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the nucleic acid testing market to understand the present and future trends in this market and formulate their strategies accordingly.