Market Trends of Strand Displacement Amplification Industry
Cancer Segment is Expected to Hold Significant Market Share Over the Forecast Period
- Cancer is a disease in which some of the body's cells grow uncontrollably and spread to other body parts. It is a significant disease with a very high burden around the world. The rising prevalence of cancer is the major factor driving the market growth.
- The high prevalence of cancer worldwide is one of the major factors driving the segment's growth. For instance, as per the report published by PubMed Central in March 2022, China is experiencing a greater incidence of cancers. In 2022 it was expected that there would be approximately 4,820,000 new cancer cases in China; lung cancer is the most common. Thus, the high prevalence of cancer in the country is expected to boost segment growth.
- Furthermore, according to an article published by Cancer Research and Treatment in March 2022, it was estimated that 28,142 new breast cancer cases were noted in South Korea in 2022, out of which 28,032 were female and 110 were male. The source also stated that the age-standardized incidence of breast cancer in South Korea was 33.1 out of 100,000 in 2022. Thus, the high burden of cancer in South Korea is expected to boost the segment's growth.
- Moreover, according to an article published by Chemical Communications in 2021, microRNA-21 (miR-21) is considered a potential biomarker for cancer diagnosis and prognosis due to its high expression in tumors, and a multiple cascaded strand displacement amplification method was developed to detect it effectively. Additionally, according to an article published by ScienceDirect in 2023, a stepwise strand displacement amplification (S-SDA) based colorimetric sensing platform was developed, which was found useful in clinical settings for the detection of colon cancer.
- Hence, the factors above, such as the rising prevalence of cancer and the increasing usage of strand displacement amplification in cancer biomarker identification, are expected to boost the studied segment's growth.
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North America is Expected to Hold a Significant Market Share Over the Forecast Period
- North America is anticipated to hold a significant market share over the forecast period owing to the increasing prevalence of chronic diseases, the rising geriatric population, and the presence of key market players in the region.
- The rising prevalence of chronic diseases in the region is one of the major factors driving the market growth. For instance, according to the data updated by the Center for Disease Control and Prevention (CDC) in January 2022, an estimated 91 pediatric flu deaths have been reported so far in the 2022-23 season in the United States. The source also estimates that, so far this season, there have been approximately 25 million illnesses, 280,000 hospitalizations, and 17,000 deaths from flu.
- Moreover, the rising prevalence of infectious diseases, such as HIV, RSV, and hepatitis C, is also expected to boost the demand for lateral flow assays to detect these diseases. For instance, according to the data updated by the CDC in 2022, it was estimated that in the 2022-2023 season, the overall rate of RSV-associated hospitalizations was 43.4 per 100,000 people.
- Additionally, according to the data stated by the Canadian Cancer Society in November 2022, it was estimated that 233,900 people were diagnosed with cancer in 2022. This incidence growth is mainly due to Canada's growing aging population. Thus, the growing prevalence of cancer is expected to boost the usage of strand displacement amplification tests, thus driving the growth of the market in the region over the forecast period.
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