Nucleic Acid Isolation & Purification Market - Segmented by Technology, Application, Product, End-Users and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global nucleic acid isolation and purification (NAIP) market is estimated to reach approximately USD 1,954.6 million by 2023, at a CAGR of about 6.04% during the forecast period. This market is segmented based on technology, product, application, end user, and geography. In the segmentation based on technology, column-based purification has the largest market share, however, magnetic bead-based purification is expected to witness the highest CAGR.
Rise in R&D Funding in Biotechnology & Healthcare
Biotech and Pharma companies have a growing demand for pure nucleic acids. Pure nucleic acid is finding applications in emerging fields, like genetic engineering, molecular diagnosis, forensics, and research related to life sciences. Consequently, the governments have stepped up funding for R&D projects. The pharma sector has stepped up investments in products requiring NAIP Instruments, as NAIP technologies are becoming more prevalent now. Rise in automation has also stepped up NAIP applications.
Low Penetration in Emerging Countries
The availability of automation technology in emerging economies is very low. Automation technology is a major reason for rising applicability of NAIP technology. Low automation presents a problem in harnessing the full potential of NAIP technology. Companies would need to work out ways to increase the availability of automation technology in the developing regions. As the penetration of automation and NAIP technology is low in emerging economies, consequently the cost of automated instruments is also very high (higher than the base cost in developed countries). These hurdles of pricing and technology penetration are potential barriers for the market’s growth.
North America to Dominate the Market Growth
North America has the largest market share and is expected to lead the market during the forecast period. Asia-Pacific is expected to witness the highest CAGR during the forecast period. Increasing use of kits in molecular diagnostics and rapid development of healthcare facilities in emerging economies are the key factors that justify the growth rate in Asia-Pacific.
Key Developments in the Market
- July 2017- Life sciences tools provider, LGC, acquired Link Technologies, a supplier of specialty reagents for oligonucleotide synthesis. Following the acquisition, LGC plans to form a new Nucleic Acid Chemistry business unit within its Genomics division that combines Link with its existing Biosearch Oligo Reagent group and Prime Synthesis CPG business.
- October 2017- Avalon GloboCare’s majority-owned subsidiary, GenExosome Technologies, acquired 100% of the outstanding capital stock of a Chinese exosome technology company, called Beijing Jieteng (Beijing GenExosome) Biotech.
Major Players -Agilent Technologies, Bio-Rad Laboratories, Danaher Corporation, Ge Healthcare, Roche Applied Sciences, Sigma Aldrich, Life Technologies, Thermo Fischer Scientific, Takara Bio Inc., Qiagen among others.
Reasons to Purchase the Report
- Current and future nucleic acid isolation & purification market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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