The global nucleic acid amplification test (NAAT) market is expected to reach USD 4.4 Billion by 2025, according to a new report by Grand View Research, Inc. Nucleic acid amplification testing is gaining preference over traditional diagnostic techniques because of its high efficiency and accuracy.
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In addition, the potential application of these tests in various life-threatening diseases, including several types of cancer, is attracting a large amount of investment for the purpose of R&D. Increasing number of ongoing studies are expected to ensure higher growth rate in the later part of the forecast period.
These tests are currently being used extensively for screening and diagnosis of a wide range of infectious diseases. Along with known infectious diseases, management of epidemics of new diseases has caused a sudden surge in the demand for advanced diagnostic tests. NAAT is currently the most advanced and efficient diagnostic method, which extensively uses technology that helps in reducing procedural time and consumption of reagents.
Further Key Findings from the Study Suggest:
- The market study suggests that infectious diseases segment captured the largest revenue share in 2015 owing to the high demand for effective screening methods for management of these diseases
- Cancer is expected to exhibit the fastest growth during the forecast period due to the rising number of studies to develop tests for early detection of various cancer types
- Expanding applications prenatal screening and for the detection of mitochondrial disorders is expected to boost the demand for NAAT
- High usage of the PCR technique in NAT is driving the growth of the segment and is expected to capture significant revenue share in the near future
- North America dominated the space in 2015 with U.S. capturing the largest share.
- Evolution of biotechnology sector in the Asia Pacific, along with the favorable government initiatives, Asia Pacific is expected to show the fastest growth rate during the forecast period
- A few of the major players in the market are F. Hoffmann-La Roche Ltd; Bio-Rad Laboratories, Inc.; Becton, Dickinson and Company; Novartis AG; Beckman Coulter, Inc.; bioMerieux SA; Abbott Laboratories; Siemens Healthineers, and Illumina, Inc.