In a recently published report, Nucleic Acid Amplification Testing (NAAT) Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nucleic Acid Amplification Testing (NAAT) Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Nucleic Acid Amplification Testing (NAAT) Market is valued at approximately USD 2.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.4% over the forecast period 2020-2027. Nucleic Acid Amplification Test (NAAT) is an innovative technique used for the identification of a specific nucleic acid, bacteria, or virus, that act as a disease-causing pathogen from biologic samples, such as urine, tissues. etc. Furthermore, this technique is often utilized for blood screening donations to mitigate the risk of transfusion-transmitted infections in the recipients. Besides, nucleic acid amplification test is the precise detection technique used for most of the infectious agents, as it helps diagnose and improve patients care in high-income countries. Thus, it is extensively adopted over conventional diagnostic techniques for treating and curing infectious diseases, such as HIV and Ebola. According to the Joint United Nations Programme on HIV and AIDS (UNAIDS), in 2019, nearly 1.7 million individuals were newly affected by HIV , compared to a 2.8 million adult population in 1998. Thus, the rise in prevalence of HIV diseases throughout the world will foster the adoption for NAAT in the forthcoming period. Along with infectious diseases, NAAT is being extensively used across numerous other fields, including cancer, personalized medicine, and forensics.
This is likely to spur the adoption & utility for NAAT during the forecast period. In addition, the rise in expenditure or investment in pharmaceutical and biopharmaceutical sector, along with escalating demand for the advanced diagnostic measure are the few factors responsible for the high CAGR of the market during the forecast period. For instance, the Association of the British Pharmaceutical Industry (ABPI) estimated that the biopharmaceutical companies worldwide spent around USD 156.7 billion on R&D activities in 2016, representing an increase from USD 148 billion in 2015. Further , it is likely to grow around USD 181 billion by the year 2022. This, in turn, is likely to strengthen the demand for nucleic acid amplification testing (NAAT), thereby contributing to the market growth around the world. However, the high cost of test and shortage of skilled professionals are the major factors restraining the market growth over the forecast period 2020-2027.
The regional analysis of the global Nucleic Acid Amplification Testing (NAAT) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising government support to implement Nucleic Acid Amplification Testing (NAAT), along with the significant presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of life-threatening diseases and infectious diseases and rising adoption of innovative diagnostic technologies in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Nucleic Acid Amplification Testing (NAAT) market in the Asia-Pacific region.
Major market player included in this report are:
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
F. Hoffmann-La Roche AG
Beckman Coulter, Inc.
Siemens Healthcare GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Target Amplification Systems
Probe Amplification Systems
Signal Amplification Systems
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Nucleic Acid Amplification Testing (NAAT) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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