According to FutureWise analysis the market for Nucleic Acid Testing in 2023 is US$ 3.7 billion, and is expected to reach US$ 6.37 billion by 2031 at a CAGR of 7.00%.
Due to its great efficiency and accuracy, nucleic acid testing (NAT) or nucleic acid amplification test (NAAT) is one of the sophisticated diagnostic tests that is gradually gaining favour over traditional culture procedures. Additionally, nucleic acid testing has the potential to be used in the treatment of a variety of life-threatening conditions, including cancer, infectious disease, genetic and mitochondrial problems, as well as the creation of personalised and precision medicine. NAT is a quick and easy diagnostic approach that cuts down on procedure time and reagent consumption. Furthermore, nucleic acid testing is increasingly being utilised to screen blood donation samples in order to lower the risk of transfusion-transmitted illnesses (TTIs), boosting the nucleic acid testing market's growth. For the screening and diagnosis of numerous infectious disorders, nucleic acid assays are widely employed. Furthermore, the rising frequency of infectious diseases, as well as the management of emerging disease epidemics, has increased need for improved diagnostic procedures like nucleic acid testing. Furthermore, NAT can determine which patients have hereditary mutations, which can assist determine whether or not the patient is at an elevated risk of getting cancer. The rising incidence of cancer in various parts of the world is a significant driving force behind the increased use of nucleic acid testing.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Nucleic Acid Testing Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Nucleic Acid Testing Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.