Isothermal Nucleic Acid Amplification Technology Market worth $6.8 billion | MarketsandMarkets

CHICAGO, March 8, 2023 /PRNewswire/ -- Isothermal Nucleic Acid Amplification Technology (INAAT) is a revolutionary, rapid, and cost-effective technology for amplifying and detecting nucleic acid targets. INAAT is being explored for a wide range of applications including diagnostic testing (e.g., detection of infectious diseases and cancer), food safety, and environmental monitoring. The isothermal nucleic acid amplification technology market is projected to witness remarkable growth in the near future, owing to increasing government initiatives in the field of diagnostics, rising prevalence of infectious diseases, and technological advancements in the field. Moreover, increasing adoption of INAAT by healthcare providers and pharmaceutical companies to reduce costs and improve the accuracy of diagnostics is expected to drive the growth of the market.

Isothermal Nucleic Acid Amplification Technology Market in terms of revenue was estimated to be worth $4.4 billion in 2023 and is poised to reach $6.8 billion by 2028, growing at a CAGR of 9.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the market is attributed the growing funding initiatives for molecular diagnostics & infectious diseases, and recent launches of INAAT consumables by prominent market players. However, the unfavorable reimbursement scenario for in vitro diagnostic tests is a major factor restraining market growth.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=839

Browse in-depth TOC on "Isothermal Nucleic Acid Amplification Technology Market" 
226 - Tables 
46 - Figures 
235 - Pages

Isothermal Nucleic Acid Amplification Technology Market Scope:

Assay, kits and reagents segment accounted for the largest share of the INAAT market

Based on the product, the INAAT market is segmented into assay, kits, and reagents, and systems. The assay, kits, and reagents segment accounted for the largest share in 2022, which is attributed to increasing demand of infectious disease diagnostic tests, infectious diseases-the continuous launch of newer, faster, and more reliable POC products and extensive use of INAAT products.

LAMP segment accounted for the largest share of the INAAT market

Based on technology, the isothermal nucleic acid amplification technology market is segmented into loop-mediated isothermal amplification (LAMP), transcription-mediated amplification (TMA), strand displacement amplification (SDA), nicking enzyme amplification reaction (NEAR), single-primer isothermal amplification (SPIA), and other technologies. The loop-mediated isothermal amplification (LAMP) segment dominated the market in 2022. The largest share of this segment is attributed to the prominent players in the market offering LAMP kits and rising of LAMP kits in infectious diseases diagnostics.

Infectious disease diagnosis segment accounted for the largest application segment of the market

Based on application, the INAAT market is segmented into infectious disease diagnosis, blood screening, and other applications. The disease diagnosis segment is expected to dominate the market in 2022. Various factors drive the growth of the segment are launch of INAAT covid-19 kits and extensive use of INAAT in diagnosis of Hepatitis and HIV.

Hospital segment accounted for the largest share of the global INAAT market

Based on the end user, the market is divided into hospitals, reference laboratories, academic and research institutes, and other end users. The hospital segment is expected to account for the largest share of the INAAT market in 2022. This is owing to high demand for fast test and kits, increase in patient population, extensive use of moleucular diagnostic kits and need for early doagnostic solutions.

North America accounted for the largest share of the market

North America is expected to account for the largest share of the global INAAT market, followed by Europe in 2022. The largest share of the North American market is attributed to the presence of a leading market players, growing burden of infectious diseases and availability of R&D funding for molecular diagnostics.

Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=839

Isothermal Nucleic Acid Amplification Technology Market Dynamics:

Drivers:

1. Recent launches of INAAT consumables by prominent market players
2. Growing funding initiatives for molecular diagnostics & infectious disease diagnostics
3. High prevalence of infectious diseases

Restraints:

1. Unfavorable reimbursement scenario for in vitro diagnostic tests

Opportunities:

1. INAAT tests as point-of-care tools
2. Start-ups focusing on INAAT

Challenges:

1. Dominance of PCR

Key Market Players:

The prominent players operating in INAAT market are Grifols, S.A. (Spain), Hologic, Inc. (US), Abbott Laboratories (US), Becton, Dickinson and Company (US), Meridian Bioscience (US), Eiken Chemical Co., Ltd. (Japan), bioMérieux SA (France), Tecan Trading AG (Switzerland), New England Biolabs (US), QIAGEN N.V. (Germany), DiaSorin S.p.A. (Italy), General Electric (US), OptiGene Limited (UK), Quidel Corporation (US), Thermo Fisher Scientific (US), Genomtec (Poland), Mast Group Ltd. (UK), Ustar Biotechnologies (China), Jena Bioscience GmbH (Germany), Atila BioSystems (US), TwistDx Limited (UK), LGC Limited (UK), Life Sciences Advanced Technologies (US), GenoSensor Corporation (US), and PCR Biosystems (UK).

Recent Developments

• In May 2022, Hologic, Inc. (US) received CE marking for two new molecular assays, Panther Fusion EBV Quant Assay and Panther Fusion BKV Quant Assay, expanding its transplant pathogen monitoring menu on the Panther Fusion system.
• In December 2021, Hologic, Inc. (US) launched Panther Trax, which offers full automation to meet high-volume testing demands and will be commercially available in the US, Europe, Canada, Australia, and New Zealand.
• In September 2020, Abbott (US) received approval from Health Canada for the ID NOW rapid COVID-19 testing device for use in Canada.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=839

Isothermal Nucleic Acid Amplification Technology Market Advantages:

• Isothermal nucleic acid amplification technology provides a rapid and reliable method for the detection of infectious agents.
• The technology is more cost-effective than traditional PCR methods.
• It has a shorter turnaround time and requires fewer steps.
• The technology is highly sensitive and can detect even small amounts of DNA.
• It is less prone to contamination and false positives.
• It is more amenable to automation and miniaturization.
• The technology is suitable for point-of-care applications.

Isothermal Nucleic Acid Amplification Technology Market- Report Highlights:

• Additional points, such as trends/disruptions impacting customers' businesses, pricing analysis, value chain analysis, ecosystem analysis, regulatory landscape, Porter's five forces analysis, key conferences & events in 2023–2024, technology analysis, key stakeholders and buying criteria, and patent analysis have been added to the market overview chapter.
• The new edition of the report provides updated financial information till 2022 (depending on availability) for each listed company in a graphical representation. This will help analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.
• Recent developments help understand market trends and growth strategies adopted by players in the market.
• Tracking the product portfolios of prominent market players helps analyze the major products in the isothermal nucleic acid amplification technology market. The new edition of the report provides an updated product portfolio of the companies profiled.
• The new edition of the report provides an updated product portfolio of the companies profiled in the report. A total of 25 companies have been profiled.
• Key market strategies, market share analysis for 2022, revenue share analysis of key market players from 2020 to 2022, and competitive leadership mapping have been added to the competitive landscape section of the report.
• The new version of the report includes competitive leadership mapping for companies operating in the isothermal nucleic acid amplification technology market. This new section is an output of a comprehensive study of the key vendors offering INAAT products. The top 25 vendors were shortlisted from a list of 50+ vendors, and these were evaluated based on market shares/rankings and product footprint.

Recession Impact:

• The new version of the report considers the impact of the recession at the global and regional levels. The impact of the recession on year-on-year growth during the forecast period (2023 to 2028) has been considered.
• The recession impact section has been included in the research methodology and regional analysis chapters of the report.

Related Reports:

In Vitro Diagnostics Market - Global Forecasts to 2027

Molecular Diagnostics Market - Global Forecasts to 2027

Nucleic Acid Isolation and Purification Market - Global Forecasts to 2027

Blood Screening Market - Global Forecasts to 2026

Western Blotting Market - Global Forecasts to 2026

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441 
Email: [email protected] 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/isothermal-nucleic-acid-amplification-technologies-inaat-market.asp
Visit Our Website: https://www.marketsandmarkets.com/ 
Content Source: https://www.marketsandmarkets.com/PressReleases/inaat-market.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets