July 14, 2024
Isothermal Nucleic Acid Amplification Technology (INAAT) Market

Isothermal Nucleic Acid Amplification Technology (INAAT) Market is Estimated To Witness High Growth Owing To Rapidly Expanding Application Areas

Market Overview:
Isothermal Nucleic Acid Amplification Technology (INAAT) refers to techniques that amplify nucleic acids isothermally, meaning at a constant temperature without changes in temperature. INAAT methods are generally faster and less expensive than PCR, which requires temperature cycling. Some common INAAT techniques employed in the market are NASBA, LAMP, RPA, HDA, and SDA. These techniques are playing a vital role in rapid and cost-effective diagnostics for disease conditions such as respiratory infections, gastrointestinal infections, and sexually transmitted infections.

Market key trends:
One of the key trends driving growth of the INAAT market is the rapidly expanding application areas. Traditionally, INAAT techniques were mainly used for diagnosis of infectious diseases. However, their application areas have expanded considerably over the past few years. INAAT techniques are now increasingly employed for non-infectious disease applications such as cancer diagnosis and prognosis, genetic disease testing, forensic analysis, and food safety testing. They offer significant advantages over conventional methods in these applications as well, due to their rapid, inexpensive, and scalable nature. The continuous expansion into new applications is expected to boost growth of the INAAT market over the forecast period.

Porter’s Analysis

Threat of new entrants: The  Isothermal Nucleic Acid Amplification Technology (Inaat) Market requires high R&D investments and regulatory approvals which create entry barriers for new players.

Bargaining power of buyers: The presence of many established brands gives buyers bargaining power in the form of competitive prices and product varieties.

Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to the specialized nature of inputs required for INAAT systems.

Threat of new substitutes: Threat from new substitutes is low as INAAT techniques have advantages over traditional NAAT and culture-based tests.

Competitive rivalry: The market is dominated by few global players intensifying competition.

SWOT Analysis

Strength: INAAT provides fast, accurate and sensitive detection of infectious disease agents.

Weakness: High costs of instruments and assays limit the adoption in resource poor settings. Stringent regulatory framework delays product launches.

Opportunity: Increasing prevalence of communicable and infectious diseases boosts the demand. Growing health awareness expands market reach.

Threats: Reimbursement issues and budget constraints in developing nations pose challenges. Lack of skilled professionals hampers operations.

Key Takeaways

The global INAAT market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing prevalence of infectious diseases and rising awareness regarding early diagnosis.

North America dominates the global INAAT market holding over 35% share due to rising healthcare investments, technological advancements and growing adoption of point-of-care testing. Asia Pacific is poised to grow at fastest pace during the forecast period owing to growing medical tourism, rising healthcare spending and increasing initiatives to modernize healthcare infrastructure in emerging countries.

Key players operating in the INAAT market are Alere Inc., Becton, Dickinson & Company, BioHelix Corporation, BioMerieux, Hologic Gene-Probe, QIAGEN Company, Thermo Fisher Scientific, Inc., Lucigen Corporation, Quidel Corporation, and NuGEN. These companies continuously engage in new product launches, collaborations and expansion of manufacturing facilities to gain competitive advantage in the market.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it