Nucleic acid testing kits market is anticipated to grow at a CAGR of 7.9% during the forecast period. A nucleic acid testing kit is a real-time RT-PCR test aimed at the qualitative recognition of nucleic acid from SARS-CoV-2 in oropharyngeal, nasopharyngeal, anterior nasal swab taken from either individual suspected of having COVID-19 or asymptomatic individuals. This test is also for use with saliva samples collected using the SalivaSecure. The COVID-19 pandemic has led to the emergence and development of nucleic acid amplification tests (NAAT) and RT-PCR tests to detect the presence of viral genetic material in the patient’s sample. These are the foremost factors that have surged the market growth. Not only is COVID-19 detection, but, these kits have also found their application in the detection of the high prevalence of blood-borne viruses among approved blood donors. These kits are widely used among blood transfusion kit centers and blood banks. Moreover, the increased burden of genetic diseases and infectious diseases such as hepatitis, malaria, dengue, and others are expected to fuel the global nucleic acid testing kits market. 

Besides, the rising usage of nucleic acid tests for the treatment of these diseases is likely to create wide scope for market development. The advancements in nucleic acid amplification technology have opened a new path for market growth. Manufacturers are adopting this technology for better outcomes and to come up with premium-quality test kits with short turn-around times. For instance, Biopharma has been quickly ramping up investment in messenger RNA (mRNA), the defining technology behind the Moderna and Pfizer-BioNTech SARS-CoV-2 vaccines. Moreover, new startups are also focusing on coming up with new product launches to compete in the market. For instance, in January 2022, Medical device technology start-up Anitoa Systems expanded its SARS-CoV2 rapid nucleic acid test portfolio with the addition of two new kits to detect Omicron and Delta mutations. Anitoa’s two new nucleic acid testing kits consist of CE-IVD certified SARS-CoV-2 and Delta variant kits, and research use only (RUO) SARS-CoV-2, Delta, and Omicron kits.

Segmental Outlook  

The global nucleic acid testing kits market is segmented based on disease detection and end-user. Based on disease detection, the market is sub-segmented into coronavirus, cancer, hepatitis, and others. Among these, the cancer segment is expected to contribute the highest share in the global nucleic acid testing kits market during the forecast period. Moreover, the coronavirus witnessed the fastest growth in 2021 due to an exponential rise in the number of people affected by the COVID-19 infection. The demand for COVID-19 detection kits was high at the time of the pandemic. However, new COVID-19 cases have declined in number now and this will be expected to hamper the demand for COVID testing kit market expansion rate during the forecast period. Similarly, based on end-user, the market is sub-segmented into hospitals and clinics, and academics and research institutes. Among these, the hospital and clinic segment is likely to generate a higher share owing to the use of nucleic acid testing kits for various virus detection and the adoption of advanced diagnostic technologies.

Regional Outlook 

Geographically, the global nucleic acid testing kits market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe is the most promising market for nucleic acid testing kits when it comes to revenue generation. The increased demand for a wide range of diagnostic tests for the detection of COVID-19 and other diseases has augmented the industry's growth. Apart from these, at the time of the pandemic, the regional government increased the supply of nucleic acid testing kits among all the hospitals and clinics for virus detection. For instance, in August 2020, the UK government placed orders for millions of high-speed COVID-19 test kits from DnaNudge (London, UK) and Oxford Nanopore Technologies (Oxford, UK) to be used in NHS hospitals from September 2020. Such initiatives increased the overall production, which lead to market growth. 

Global Nucleic Acid Testing Kits Market Growth, By Region 2022-2028

Asia-Pacific Emerged as Fastest Growing Region in Nucleic Acid Testing Kits Market

Geographically, Asia-Pacific witnessed the fastest-growing market in 2021. The regional growth is attributed to the upsurge in coronavirus cases in Asian countries such as India, a rise in the number of diagnostic facilities, and the implementation of mass testing programs in this region at the time of the COVID-19 pandemic. Besides, the growing geriatric population and high prevalence of cancer are also prominent factors expected to create new growth opportunities during the forecast period. 

Market Players Outlook

The major market players in the global nucleic acid testing kits market include Agilent technology Inc., Abbott Laboratories, F.Hoffmann-La Roche, and Thermo Fisher Scientific, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. 

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global nucleic acid testing kits market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.