Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market, By Product Type (Instruments and Reagents and Kits), By Technology (Helicase Dependent Amplification (HAD), Nicking Enzyme Amplification Reaction (NEAR), Nucleic Acid Sequence Based Amplification (NASBA), Transcription Medicated Amplification (TMA), Single Primer Isothermal Amplification (SPIA), and Loop-mediated Isothermal Amplification (LAMP)), By Application (Infectious Disease Diagnostics, Blood Screening, and Others), By End User (Academic and Research Institutes, Diagnostic Laboratories, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,490.2 Million in 2023, exhibiting a CAGR of 8.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focusing on the adoption of organic growth strategiessuch as product launches, in order to expand their product portfolio, h is expected to drive the market growth over the forecast period. For instance, in 2022, Meridian Bioscience, Inc., a provider of diagnostic testing solutions and life science raw materials, announced the expansion of its isothermal amplification product line with the launch of two new innovative master mixes named Lyo-Ready Direct DNA LAMP Saliva Mix and Lyo-Ready Direct RNA/DNA LAMP Saliva Mix.
Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the global isothermal nucleic acid amplification technology (INAAT) market growth due to the increasing usage of and product approvals and launches of isothermal nucleic acid amplification technology during the pandemic. The coronavirus disease (COVID-19) is caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and led to rapid infections and deaths. The virus enters the body through the respiratory system, infecting multiple organs, and causing damage to multiple organ systems. For instance, according to the article publishedby Springer Nature Limited, in March 2023, the global number of cases of COVID-19 reached 675 million and the death exceeded 6.7 million till February 2023. And because of these there is huge increasing usage of and product approvals and launches of isothermal nucleic acid amplification technology during the pandemic.
Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market- Key Developments
In August 2022, LGC Clinical Diagnostics develops and manufactures a comprehensive portfolio of catalog and custom-developed diagnostic quality solutions, biological and reagent component materials for the extended life sciences industry, collaborated with Stanford Medicine's Department of Obstetrics and Gynecology and Metabolic Health Center supporting global genetic and metabolic diagnostic testing . Stanford Medicine's Department of Obstetrics and Gynecology is committed to research, resident physician and fellow training and education in the field of Gynecology and Family Planning
Browse 33 Market Data Tables and 31 Figures spread through 170 Pages and in-depth TOC on “Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market”- Forecast to 2030, Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market, by Product Type (Instruments, Reagents & Kits), by Technology , (Helicase Dependent Amplification (HAD), Nicking Enzyme Amplification Reaction (NEAR), Nucleic Acid Sequence Based Amplification (NASBA), Transcription Medicated Amplification (TMA), Single Primer Isothermal Amplification (SPIA), Loop-mediated Isothermal Amplification (LAMP)), by Application(Infectious Disease Diagnostics, Blood Screening, Others), By End User(Academic and Research Institutes, Diagnostic Laboratories, Others)and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market:
- Global isothermal nucleic acid amplification technology (inaat) market is expected to exhibit a CAGR of 8.4% during the forecast period due to increasing emergence of COVID-19. Isothermal techniques were used as a useful technology for the diagnosis of SARS-CoV-2 RNA in homes and clinical testing facilities during the COVID-19 pandemic. For instance, in March 2020, Abbott company provides from newborns to aging adults, from nutrition and diagnostics through medical care and pharmaceutical therapy., received approval by the U.S. Food and Drug Administration to use ID NOW COVID-19, an instrument-based, isothermal, fast approach for the qualitative discovery of disease, in emergency situations.
- Among technology, loop-mediated isothermal amplification (LAMP) segment is estimated to hold a dominant position in the global isothermal nucleic acid amplification technology (INAAT) market over the forecast period. For instance, this technique has major competitive advantages over PCR technology. First, the LAMP test is tolerant of PCR inhibitors, which makes it well-suited for direct analysis of the sample. Secondly, there is no need of a thermocycler, as it is performed at a fixed temperature. These two advantages make it useful in point-of-care diagnostics. As the market for point-of-care diagnostics is growing, the LAMP segment of the market studied is also likely to grow proportionally.
- Among region, North America is expected to hold a dominant position in the global isothermal nucleic acid amplification technology (INAAT) market, the Per Capita expenditure on healthcare in North America is also expected to contribute to the growth of the marketr in this region . For instance, in 2021, According to the data published by the United States Department of Commerce in 2021 health spending in Canada is anticipated to reach US$ 308 billion. It is estimated that health spending will signify 12.7% of Canada's GDP.
- Major players operating in the global isothermal nucleic acid amplification technology (INAAT) market include Alere Inc., Becton, Dickinson & Company, BioHelix Corporation, BioMerieux Biotechnology Company, Hologic Gene-Probe, QIAGEN Company, Thermo Fisher Scientific, Inc., Lucigen Corporation, Quidel Corporation, and NuGEN
