Dublin, March 29, 2024 (GLOBE NEWSWIRE) -- The "Global Nucleic Acid Isolation and Purification Market Size, Share & Trends Analysis Report by Product, Type, Application, Method, End-use, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
Market Expansion Driven by Technological Advancements and Increased R&D Investment
The global nucleic acid isolation and purification market is projected to experience a robust growth period, with an anticipated compounded annual growth rate (CAGR) of 9.24% from 2024 to 2030. This notable expansion is supported by various factors, including the rising incidence of cancer, the prevalence of chronic illnesses, and the surge in both public and private funding allocated for research in biotechnology and life sciences.
Diverse Applications Fuelling Growth
The market's growth is further propelled by advancements in automation and technology, in addition to the increased demand for genetically modified crops and organisms. These advancements are evident in the applications of novel magnetic bead-based systems, which improve the efficacy of nucleic acid extraction processes across numerous industries. Furthermore, the market is influenced by growing needs for precision medicine in treating diseases such as diabetes, cancer, and rheumatoid arthritis, among others.
Enhancement in Precision Medicine and Genomic Research
With a significant focus on precision medicine, there is a heightened interest in manipulating genes for therapeutic purposes. The investment in platforms for the delivery of nucleic acids, such as siRNAs, plays a pivotal role in addressing overexpression and genetic mutations found in various medical conditions. Additionally, the pharmaceutical and biotechnology sectors are vigorously pursuing research and development in human genomics, which is essential for disease diagnosis, therapeutic discoveries, and advancing genome-editing techniques.
Market Segmentation Insights
Analysis by product showed that kits & reagents held a commanding revenue share, attributed to the demand for DNA and RNA extraction and purification kits. However, instruments are also expected to see considerable growth in the coming years. DNA isolation and purification lead in market type, given its extensive use within molecular biology. Nonetheless, RNA isolation and purification is projected to grow significantly due to its applications in profiling, sequencing, and diagnostics. From an application standpoint, diagnostics were at the forefront, although drug discovery and development are predicted to expand the fastest due to an upsurge in chronic diseases.
Increasing Demand across Various End-use Sectors
The end-use segments, such as hospitals and diagnostics centers, currently dominate the market, fueled by the wide-ranging applications of nucleic acid technologies. Yet, pharmaceutical and biotechnology companies are expected to experience the fastest CAGR in the forecast period, underlining an escalating need within these sectors. Geographically, North America leads the global market, while Asia-Pacific is anticipated to register the most rapid growth, attributed to vigorous business initiatives in countries like China, Japan, and India.
Notable Developments and Forward Momentum
In December 2023, significant advancements were made with the launch of an automatic nucleic acid purification instrument, signaling a commitment to innovation and to meeting the evolving needs of the global market. This development is geared towards streamlining the isolation and purification of bacterial and viral pathogens from biological samples, emphasizing the sector's continuous progress.
The global nucleic acid isolation and purification market is set for considerable advancement in the coming years. The combined effects of technological innovation, increased application across medical and research fields, and substantial market investments pave the way for a promising future in disease treatment and preventative healthcare.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $5.38 Billion |
| Forecasted Market Value (USD) by 2030 | $9.8 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
Companies Featured
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- Danaher
- F. Hoffmann-La Roche Ltd
- Bio-synthesis
- Merck KGaA
- Agilent Technologies
- Bio-Rad Laboratories, Inc.
- Takara Bio Inc.
- Promega Corporation
For more information about this report visit https://www.researchandmarkets.com/r/wow6hb
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