Nucleic acid tests are used for rapid and accurate identification of microbes. This report on molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products in Europe analyses the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments. This section also provides the overall information and data analysis of the nucleic acid test products market in Europe with respect to the leading market segments based on type of test techniques, end-user, and geography.
The leading players in the Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests, raked in a lion's share of 96% in the overall market in 2014. The key players, Hologic, Inc., F. Hoffmann-La Roche Ltd., Nanosphere, and MeridianBioscience, Inc. held dominating shares due to an excellent brand equity and strong geographical presence. “Widening their product portfolio will prove to be a lucrative growth opportunity for the players in the market,” states the leading author of this research report.
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Quick Turnaround Time Makes iNAT a Preferred Choice
According to the research report, the Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests is expected to be worth US$22.3 mn by the end of 2023 from US$8.3 mn in 2014. Analysts predict that the market will expand at CAGR of 11.6% between 2015 and 2023. The report states that the isothermal nucleic acid amplification technology (iNAT) is expected to surge at a steady CAGR of 16.7% during the forecast years. The significant progress of this segment will be attributable to the quick turnaround time in delivering accurate results. Amongst the end users, the hospital segment is projected to hold a lion’s share in the market as the segment expands at a CAGR of 12.0% between 2015 and 2023.
Steady Rise in Infections Lead to Higher Adoption Rate of Tests
The steady rise in the incidence of Streptococcus pyogenes infection across several countries of Europe has been the very reason for the spike in the demand for the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests. These tests help in delivering quick and accurate results, which is one the most important factors contributing towards their high adoption rate. The remarkable advancements in technology of these test kits are yet also responsible for the growth of the market. For instance, Alere, Inc. launched Alere i Strep A in Europe, which functions on the isothermal nucleic acid amplification technology. The new testing method eliminates the need of thermocyclers and thus offers rapid results. Such changes in technology have come a long way in determining an effective treatment for the patient and reduction of interpretation time.
The developments have also rendered nucleic acid testing in point-of-care-testing formats allowing them to cover a wider range of patients, who do not necessarily reach out to laboratories. Thus, the advantages of modern methods of testing over traditional testing styles such as convenience, user-friendly instruments, and quick results have led to a high uptake of such tests, especially in the developing countries of Europe.
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Lack of Facilities Challenge Market Growth
Despite the strong market drivers, the Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) tests is being stymied due to poor reimbursement policies. The market is also being challenged due to the differing criteria for the nucleic acid tests in different countries of Europe. Additionally, lack of facilities due to considerably low expenditure on healthcare is also restraining the growth of the global market.
Alere, Inc., F. Hoffmann-La Roche Ltd., Hologic, Inc., Meridian Bioscience, Inc., Nanosphere, Inc., and Quidel Corporation are the major players operating in European Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Products market.
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Last updated on: 14/10/2016
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