(EMAILWIRE.COM, July 21, 2023 )
The growth of Nucleic Acid Isolation and Purification Market can mainly be attributed to the increasing R&D activities as well as technological advancements and increasing automation. The emerging economies and improving regulatory & reimbursement scenario are expected to offer a wide range of growth opportunities for players in the nucleic acid purification market.
The Nucleic Acid Isolation and Purification Market is projected to reach USD 9.2 billion by 2027 from USD 6.3 billion in 2022, at a CAGR of 7.9% during the forecast period.
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KEY MARKET DYNAMICS
1 DRIVERS
1 Increasing R&D activities
2 Technological advancements and increasing automation
2 RESTRAINTS
1 High cost of automated instruments
3 OPPORTUNITIES
1 High scope of growth in emerging economies
2 Improving regulatory and reimbursement scenario
3 Molecular diagnostics and personalized medicine
4 TRENDS
1 Increase in government funding
Market Segmentation :-
On the basis of product, the nucleic acid isolation market has been segmented into kits, reagents, and instruments. The kits segment accounted for the largest share of the global nucleic acid purification market in 2021.
On the basis of application, the global nucleic acid isolation and purification market is segmented into diagnostics, drug discovery & development, personalized medicine, agriculture & animal research, and other applications. The diagnostics segment is expected to grow at the highest CAGR during the forecast period.
On the basis of type, the global nucleic acid isolation and purification market is segmented into plasmid DNA isolation and purification, total RNA isolation and purification, circulating nucleic acid isolation and purification, genomic DNA isolation and purification, messenger RNA isolation and purification, microRNA isolation and purification, PCR cleanup, and other nucleic acid isolation and purification types.
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Regional Analysis: –
In 2021, North America accounted for the largest share of the nucleic acid purification market, followed by Europe. The large share of this region can be attributed to factors such as significant R&D spending in biotechnology and pharmaceutical companies, the large size of the biotechnology industry, technological advancements, and government support in the region. With rapid development in molecular biotechnology, novel detection techniques and molecular diagnostic represented by nucleic acid hybridization and nucleic acid sequence analysis are becoming increasingly significant in various medical fields. Hence, leading players in the market are focusing on entering into a strategic collaboration to develop novel products.
Recent Developments
In 2022, Thermo Fisher invested USD 97 million to expand its clinical research operations in Richmond, Virginia. The facility will provide high-quality bioanalytical lab services to advance clinical research programs.
In 2021, Thermo acquired PPD, a leading global provider of clinical research services to the biopharma and biotech industry, advancing its clinical research services.
In 2020, Merck invested EUR 18 million (USD 21.09 million) to build a life sciences laboratory in Buchs, Switzerland, to accelerate and support research & development, analytical production, and quality control.
In 2020, Thermo Fisher acquired QIAGEN N.V., a leading global provider of molecular diagnostics and sample preparation technologies.
This acquisition is expected to expand the companys specialty diagnostics portfolio with innovative sample preparation, assay, and bioinformatics technologies.
Top Key Players:-
The prominent players in this nucleic acid isolation market are QIAGEN N.V. (Netherlands), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd. (Switzerland), Merck KGaA (Germany), Bio-Rad Laboratories (US), Agilent Technologies (US), Danaher Corporation (US), GE Healthcare (US), Illumina, Inc. (US), Takara Bio (Japan), Zymo Research (US), New England Biolabs (US), Norgen Biotek Corp (Canada), and Omega Bio-tek (US).