Rapid Diagnostics Adoption to Boost Growth of Global Isothermal Nucleic Acid Amplification Technology (INAAT) Market

 
Isothermal Nucleic Acid Amplification Technology Market

Market Overview:

Isothermal Nucleic Acid Amplification Technology (INAAT) refers to the method of amplifying nucleic acid sequences at a constant temperature, eliminating the need for expensive thermal cycling equipment. INAAT allows for rapid, low-cost detection of infectious diseases in decentralized healthcare settings. The major advantage of INAAT over PCR is that it can be performed using portable battery-operated instruments without the requirement of a stable electricity supply or specialized laboratory infrastructure. INAAT products are widely used for point-of-care diagnostics of diseases such as HIV, tuberculosis, influenza, and more recently COVID-19.

Market Key Trends:
The global INAAT market is driven by the increasing adoption of rapid diagnostic tests for infectious diseases screening in hospitals, laboratories, and home care settings. Point-of-care testing using INAAT products allows for timely diagnosis and treatment, improving health outcomes. Growing awareness about early disease detection and management is boosting demand for INAAT. Furthermore, rising R&D investments by leading players for development of accurate and affordable INAAT tests for new applications are expanding the market scope over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the  Isothermal Nucleic Acid Amplification Technology (Inaat) Market is moderate. Existing players have strong distribution networks and brand recognition. However, low setup costs of INAAT technologies enable new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers in the INAAT market is high. Buyers have significant influence due to the presence of alternative technologies. They can negotiate on price and play suppliers against each other.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of critical components and technologies for INAAT have differentiation in their offerings. However, presence of substitutes limits their power.
Threat of new substitutes: The threat of new substitutes is high owing to technological advancements. Newer molecular diagnostic technologies such as CRISPR provides tough competition to INAAT technologies.
Competitive rivalry: The competitive rivalry in the market is high due to presence of large number of players offering substitutable products.

Key Takeaways
The global INAAT market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing incidence of infectious diseases. The rise in demand for easy-to-use, rapid and accurate testing methods for diagnosis of diseases such as HIV, influenza also supports market growth.

Regionally, North America dominated the global market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to developed healthcare infrastructure, high adoption of advanced diagnostic technologies, and presence of key market players in the region. Asia Pacific is expected to exhibit the fastest growth during the analysis period owing to improving healthcare standards, rising awareness about early diagnosis of diseases, and increasing healthcare spending in the region.

Key players operating in the INAAT market are 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. These companies are focused on expanding their product portfolio and market presence through acquisitions and collaborations with industries and research institutes.

Read More:

https://www.dailyprbulletin.com/isothermal-nucleic-acid-amplification-technology-inaat-market/

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