Northbrook, IL 60062 -- (SBWire) -- 10/18/2023 --CT/NG Testing Market by Product (Assays, Kits & Analyzers), Test Type (Laboratory, Point-of-care Testing), Technology (INAAT, PCR, Immunodiagnostics), End User (Diagnostic Labs, Hospitals & Clinics) & Region - Global Forecast to 2028", is projected to reach USD 2.7 billion by 2028 from USD 1.7 billion in 2023, at a CAGR of 8.6% during the forecast period. Factors such as the increasing prevalence of CT/NG infections, increasing investments and funds in CT/NG and growing awareness for diseases diagnosis are driving the growth of this market. However, operational barriers and the high cost of CT/NG testing instruments is likely to hamper the growth of CT/NG testing market.
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CT/NG Testing Market Dynamics:
Drivers:
- Increasing investments and funding to drive market growth
Restraints:
- High cost of instruments
Opportunities:
- Growing opportunities in emerging countries
Challenges:
- Operational barriers and shortage of skills across major markets
Assays & Kits segment is expected to account for the largest share in 2022.
Based on product, the CT/NG testing market is segmented into assays & kits and instruments/analyzers. The large share of this segment is due to the recurrent and constant purchase requirement for the diagnosis of various infections and high-burden diseases including sexual health diseases such as CT/NG.
The INAAT segment held the largest market share in the CT/NG testing market.
Based on technology, the CT/NG testing market is broadly segmented into INAAT (isothermal nucleic acid amplification technology), PCR (polymerase chain reaction), immunodiagnostics and other technologies. The INAAT segment accounted for the largest share of the CT/NG testing market in 2022. The large share of the INAAT segment can be attributed to its high sensitivity, specificity and cost-effectiveness in CT/NG diagnosis.
North America dominates the global CT/NG testing market
Based on the region segmentation, the CT/NG testing market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. North America holds the largest share and expects to dominate the CT/NG testing market. The large share of North America in this market can be attributed to the increasing prevalence of CT/NG, rising advancements in technology, and the growing healthcare system that is highly developed in the US and Canada.
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Key Market Players:
The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Hologic, Inc. (US), Thermo Fisher Scientific Inc. (US), Abbott Laboratories (US), QIAGEN (Netherlands), PerkinElmer Inc. (US), Bio-Rad Laboratories, Inc. (US), Siemens Healthineers AG (Germany), Danaher (US), Becton, Dickinson and Company (US), Seegene, Inc. (South Korea), Meridian Bioscience Inc. (US), Binx Health, Inc. (US), Visby Medical, Inc. (US), Geneproof A.S. (Czech Republic), Bioneer Corporation (South Korea), Genetic Signatures (Australia), Microbiologics, Inc. (US), Vircell S.L. (Spain), Sansure Biotech Inc. (China), ELITechGroup (France), Molbio Diagnostics Pvt. Ltd. (India), Operon S.A. (Spain), Tianlong Technology Co., Ltd. (China), and Goffin Molecular Technologies B.V. (Netherlands).
Recent Developments:
- In February 2023, Thermo Fisher Scientific Inc. (US) acquired TIB Molbiol (Germany), to expand its PCR test portfolio with a wide range of assays for infectious diseases.
- In May 2022, Hologic, Inc. (US) acquired Diagenode (US), a developer and manufacturer of molecular diagnostic assays and epigenetics products. This acquisition will further strengthen the company's molecular diagnostics business by expanding its international capabilities and improving its regional time-to-market.
- In December 2021, Hologic, Inc. (US) launched Panther Trax for high-volume molecular testing.
- In September 2020, QIAGEN (Netherlands) Acquired NeuMoDx Molecular (US) to expand QIAGEN's portfolio of automated molecular testing solutions based on the proven PCR technology.
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CT/NG Testing Industry in 2028: Market Size, Industry Share, Trends, Top Players, and Upcoming Demands.
In February 2023, Thermo Fisher Scientific Inc. (US) acquired TIB Molbiol (Germany), to expand its PCR test portfolio with a wide range of assays for infectious diseases.