CHICAGO, Jan. 16, 2020 /PRNewswire/ -- According to the new market research report "Isothermal Nucleic Acid Amplification Technology Market by Product (Assay & Kit, System), Application (Infectious disease [HIV, Influenza], Blood Screening), Type (LAMP, SDA, NASBA, HDA), End User, Region - Global Forecast to 2024", published by MarketsandMarkets™, the global INAAT Market size is expected to grow from USD 1.9 billion in 2019 to USD 3.3 billion by 2024, at a CAGR of 11.0% during the forecast period.
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The Factors such as the rising prevalence of infectious diseases and the introduction of newer pathogens, the need for prompt diagnosis, the increasing number of blood transfusions and donations, and the cost-benefits of INAAT are the key factors driving the market growth.
Assay, kits and reagents segment to account for the largest share of the global INAAT Market in 2019
Based on the product, the Isothermal Nucleic Acid Amplification Technology Market is segmented into assay, kits, and reagents, and systems. Assay, kits, and reagents segment are expected to account for the largest share of the INAAT industry in 2019, owing to the factors such as the increasing number of infectious disease diagnostic tests carried out; the growing prevalence of infectious diseases; the continuous launch of newer, faster, and more reliable POC products; increasing approvals of CLIA-waived tests; accessibility to a wide range of reagents; repeated purchase of reagents; and the increasing use of reagents in therapeutics, basic research, and assay development.
By type, TMA segment is projected to account for the largest share of the global INAAT Market in 2019
Based on the type, the global market is divided into TMA, LAMP, SDA, HAD, NASBA, and other technologies. The TMA segment is expected to account for the largest share of the global INAAT industry in 2019. The large share of this segment is attributed to the growing reliance on POC diagnosis in hospitals and blood banks.
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Infectious disease diagnosis application projected to account for the largest application segment of the market in 2019
Based on application, the market is segmented into infectious disease diagnosis, blood screening, and other applications such as cancer diagnosis, cancer research, and laboratory research, which encompass cDNA preparation, whole-genome amplification (WGA), single-nucleotide polymorphism (SNP), and mutation analysis. The infectious disease diagnosis segment is expected to dominate the market in 2019 owing to the increasing number of infectious disease diagnostic tests carried out and the rising prevalence of infectious diseases, among others.
Hospital segment to account for the largest share of the global INAAT Market in 2019
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 Isothermal Nucleic Acid Amplification Technology Market in 2019 because hospitals are equipped with fully automated INAAT instruments and offer test results quickly as compared to reference laboratories. Owing to these factors, the demand for INAAT systems and consumables in hospitals is larger than the other end-user segments.
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North America is projected to account for the largest share of the market in 2019
In 2019, North America is expected to account for the largest share of the global market, followed by Europe. The largest share of the North American market is attributed to the presence of a well-established healthcare system, access to technologically advanced diagnostics and blood screening techniques, recommendations for blood screening, high and growing burden of infectious diseases, rising number of genome-based drug development activities, and the availability of R&D funding for genomics research are the major factors that are expected to drive the growth of the North American market during the forecast period.
The major companies in the global Isothermal Nucleic Acid Amplification Technology Market include Grifols S.A. (Spain), Hologic, Inc. (US), Abbott Laboratories, Inc. (US), Becton, Dickinson & Company (US), and Meridian Bioscience (US).
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