Advancements in Molecular Diagnostics Fuel Nucleic Acid Isolation Market with 8.5% CAGR Forecast Amid Rising Demand for High-Quality Nucleic Acids – ResearchAndMarkets.comSeptember 18, 2023
DUBLIN–(BUSINESS WIRE)–The “Nucleic Acid Isolation and Purification Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031” report has been added to ResearchAndMarkets.com’s offering.
The nucleic acid isolation and purification market is poised for significant growth with a projected Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period from 2023 to 2031.
This growth is driven by several key factors, including the increasing demand for genetic testing and personalized medicine, advancements in molecular diagnostics and next-generation sequencing technologies, technological innovations in isolation and purification techniques, and the need for high-quality nucleic acids in various research and clinical applications.
Increasing Demand for Genetic Testing and Personalized Medicine:
- Genetic testing is on the rise, driven by the need to diagnose and manage genetic disorders and predict disease risks.
- Personalized medicine, which tailors healthcare based on an individual’s genetic makeup, is gaining traction.
- Initiatives like the Precision Medicine Initiative in the U.S. are contributing to the growth of genetic testing and personalized medicine.
Advancements in Molecular Diagnostics and Next-Generation Sequencing (NGS):
- Molecular diagnostics and NGS technologies require high-quality nucleic acids.
- NGS market is expected to exceed $15 billion by 2026.
- Molecular diagnostic tests for various diseases rely on efficient nucleic acid isolation and purification techniques.
Technological Advancements in Isolation and Purification Techniques:
- Companies are developing innovative products for faster, more efficient, and automated workflows.
- Automation, microfluidics, and robotics are being integrated into isolation and purification workflows.
- These advancements reduce processing time and improve yield and purity.
- High cost of nucleic acid isolation and purification products can limit adoption, especially in resource-limited settings.
- The financial burden of purchasing specialized reagents, kits, and equipment can hinder scalability for large-scale projects.
- Addressing cost concerns and developing more affordable options is essential for wider adoption.
- Product: The market includes Kits & Reagents and Instruments, with the Instruments segment expected to show the highest growth.
- Type of Nucleic Acid: Segmented into DNA Isolation & Purification and RNA Isolation & Purification, with RNA purification anticipated to grow rapidly.
- Application: Includes Precision Medicine, Diagnostics, Drug Discovery & Development, and more.
- Method: Segmented by Column-Based, Magnetic Beads, Reagent-Based, and Others.
- End-Use: Involves Academic Research Institutes, Pharmaceutical & Biotechnology Companies, Hospitals and Diagnostic Centers, and others.
- North America leads the market due to well-established research infrastructure and major market players.
- Asia Pacific is expected to exhibit the highest growth rate, driven by increasing research and development activities and expanding healthcare infrastructure.
- Europe also holds a significant market share, with strong academic and research institutions and government support for genomics and personalized medicine.
- The market is highly competitive, with key players like Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Promega Corporation, and Illumina, Inc.
- These companies focus on research and development, product innovations, collaborations, and acquisitions to maintain their market position and drive growth.
Key Questions Answered in the Report:
- What factors are impacting the growth of the nucleic acid isolation and purification market?
- Which product segments and geographies are attractive for investments?
- What are the market trends and dynamics in emerging markets?
- Who are the key competitors and what are their strategies to enhance their market presence?
For more information about this report visit https://www.researchandmarkets.com/r/9tvxpk
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