June 26, 2020
According to the research report titled ‘Global Nucleic Acid Testing Market Size study with COVID-19 Impact, by Technology (PCR, SDA, LCR) by End-Users (Hospitals, Clinics, Research Institutes) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global nucleic acid testing market is expected to record a considerable growth during 2020-2026.
A nucleic acid test is a technique to detect a nucleic acid sequence and is used to identify bacteria or virus. Unlike other tests which detect antibodies and antigens, nucleic acid test detects genetic materials allowing early diagnosis of disease. Rising application of advanced technology kits in diagnostics such as paternity testing or HLA typing, cancer, infectious diseases, and forensic testing is driving the market growth.
The high rate of technological development in healthcare industry along with emphasis of leading organizations towards producing high quality products with less turnaround time to fulfil the research requirements is propelling the market outlook. Incorporation of advanced methods for sampling, extraction, amplification, and testing of nucleic acids like RNA and DNA will further encourage the market growth.
In addition to the above-mentioned factors, emergence of COVID-19 pandemic has led to increased usage of nucleic acid test kit for screening and detecting the novel corona virus at an early stage. Owing to the contagiousness of virus, the main concern of worldwide governments is to test large number of patients for the possible infection, which in turn will boost the demand of nucleic acid test kits.
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With drastic rise in coronavirus cases across the globe, governments are encouraging development of rapid diagnostic kits which are smaller in size to ensure efficient handling at site. In March 2020, Abbott Inc. declared the launch of Molecular Point-of-Care Test kit for detecting a coronavirus, giving result for negative case in 13 minutes and positive case in 5 minutes. The kits were available in market in first week of April. The company further ramped up its production capacity to 50,000 units per day.
Considering the geographical landscape, North America nucleic acid testing market is reckoned to amass substantial gains in the coming years, pertaining to the advanced healthcare sector and prompt adoption of technology.
Meanwhile, Asia-Pacific market is likely to record a high CAGR over the anticipated timeline, owing to huge population base and rising cognizance regarding early detection of various diseases.
The leading organizations in global nucleic acid testing market are Chengdu Boaojing Bio-Tech, Shanghai BioGerm, Sanaure, Zhongshan Daan Gene, Genomics Biotech (Wuhan), Shanghai GeneoDx Biotech, Shanghai ZJ Bio-Tech, GenMark Diagnostics, Roche Molecular Systems, and Abbott Laboratories among others.