The global loop-mediated isothermal amplification market is expected to be valued at USD 110.6 million in 2024. The market is expected to progress at an average rate over the forecast period, with a CAGR of 4.9%. By 2034, the value of the market is forecasted to have inflated to USD 178.4 million.
One of the key factors motivating research institutions to undertake LAMP procedures is their cost-effectiveness. The low-cost nature of the procedure is also allowing it to become more of a fixture in the healthcare sector of developing and underdeveloped countries. Further, government encouragement for diagnostic procedures is helping the market’s cause.
The low cost nature of the LAMP is also seeing it being preferred over PCR by some researchers. Another reason for LAMP being preferred over PCR is the toughness of the procedure, making it less susceptible to inhibitors. The simplicity of LAMP is another plus point for the market.
However, even with the benefits of LAMP, PCR is still the dominant diagnostic procedure. LAMP lacks the variety offered by PCR, not being of use in aspects like cloning. The lack of knowledge about the procedure, since it is still developing, is also hampering the market.
“LAMP testing is being combined with technology like AI to yield exciting results. Molecular approaches such as real-time detection and chip-based assays are also being combined with LAMP. Thus, the collaborative aspect of LAMP is an exciting avenue to explore for market players,” says an analyst at FMI.
Key Takeaways from the Loop-mediated Isothermal Amplification Market:
- The loop-mediated isothermal amplification market is anticipated to be USD 110.6 million in value in 2024.
- Microfluidic technology is the predominant technology in the market. For 2024, microfluidic technology is expected to account for 63.8% of the market share.
- Loop-mediated isothermal amplification is primarily taken up in the practice of clinical diagnostics. For 2024, clinical diagnostics is anticipated to account for 63.8% of the market share.
- India is a promising country for the market. The CAGR for India over the forecast period is forecasted to be 6.2%.
- China is another Asian country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for China is pegged at 5.3%.
- The market is expected to register a CAGR of 5.6% in Spain over the forecast period.
Rising Demand for Market Data: Our Full Report Offers Deep Insights and Trend Analysis!
Competition Analysis of the Loop-mediated Isothermal Amplification Market:
The loop-mediated isothermal amplification market sees a few big-name players with a stronghold. Collaborations with healthcare research institutes are common in the market. Some of the prominent companies in the market include Jena Bioscience GmbH, HiberGene Diagnostics, Meridian Bioscience, Inc., and Mast Group Ltd.
Recent Developments in the Loop-mediated Isothermal Amplification Market:
- In 2023, the reverse transcription loop-mediated isothermal amplification-aided LoCKAmp test was introduced by researchers at Bath University
- Also in 2023, the VIDIIA Hunter (VH6) platform was launched by, among others, GB Electronics (UK) Ltd., and Vidiia Ltd. The platform combines AI capabilities with RT-LAMP technology.
Key Companies in the Loop-mediated Isothermal Amplification Market:
- Jena Bioscience GmbH
- HiberGene Diagnostics
- Meridian Bioscience, Inc.
- Mast Group Ltd.
- Excellgen, Inc.
- Merck KGaA
- QIAGEN N.V
- NIPPON GENE CO., LTD
- New England Biolabs
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific
Key Segments:
By Product:
- Instruments
- Incubation Systems
- Turbidimeters
- Agarose Gel Electrophoresis
- Fluorescence Measuring Systems
- Kits & Reagents
- DNA Polymerase
- Primer Mix
- DNA Polymerase & Primer Mix
- Dyes
- Other Reagents
By Technology:
- Microfluidic Technology
- Advanced Infrared Optical Technology
- Modern Microsystem Technology
By Application:
- Diagnostic Purposes
- Research Purposes
By End User:
- Hospital Laboratories
- Research and Academic Institutes
- Diagnostic Centers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube