Increasing prevalence of chronic and viral diseases, rapid technological advancements, and improving reimbursement scenarios are some key factors expected to drive global market growth over the forecast period.
Increasing prevalence of chronic and viral diseases, rapid technological advancements, and improving reimbursement scenarios are some key factors expected to drive global market growth over the forecast period
Emergen Research has recently published its latest report titled, “Nucleic Acid Isolation and Purification Market By Product (Kits and Reagents, Instruments), By Type, By Method, By Application (Oncology, Precision Medicine Diagnostics, Drug Discovery & Development, Agriculture & Animal Research), By End Use, and Region Forecasts to 2027”
According to Emergen Research, the global nucleic acid isolation and purification market size was USD 2,370 million in 2019 and is expected to reach USD 4,180 million in 2027 and register a revenue CAGR of 6.9% during the forecast period, 2020-2027.
Market Dynamics:
Over the recent years, there has been significant growth in the genomics field and rapid advancements in enzymology-based research. Nucleic acid is widely used in diagnostic applications of many diseases such as STDs, cancer and congenital anomalies. Many leading companies are focused on developing advanced nucleic acid isolation and purification techniques and are seen to heavily invest in R&D activities. Factors such as increasing adoption of automation, high demand for advanced nucleic acid isolation and purification techniques, favorable government initiatives, and rising demand for personalized medicine are expected to drive market revenue growth during the forecast period. In addition, rising adoption of advanced sequencing platforms, increasing investments in research and development activities, and increasing number of pharmaceutical and biotechnology companies in many parts of the world are expected to fuel market growth during the forecast period.
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However, low adoption of automated nucleic acid isolation and purification technologies in many developing countries due to insufficient funding and budget constraints, dearth of skilled healthcare professionals, and high costs of automated instruments are some key factors that can hamper market growth to a certain extent over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Product Segment to Account for Largest Revenue Share:
The kits and reagents segment is expected to account for largest revenue share during the forecast period. Factors such as high usage of kits and reagents during sample preparation of DNA and RNA isolation, rising demand for innovative and more effective kits and reagents, and increasing investments in research and development activities are expected to drive revenue growth of the segment during the forecast period.
Drug Discovery & Development Segment to Register Rapid Revenue Growth:
The drug discovery and development segment is expected to register rapid revenue growth over the forecast period. This can be attributed to factors such as rising prevalence of various genetic diseases, increasing need for effective diagnosis and treatment, and rising investments by public and private sectors to develop novel drugs.
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North America to Lead in Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period owing to factors such as rapid advancements in molecular diagnostics, genotyping and expression analysis, favorable government initiatives and support, and high healthcare spending Other factors such as increasing investments in research and development activities, rising demand for personalized medicine and availability of advanced purification and isolation devices are expected to further fuel North America market growth over the forecast period.
Major Companies in the Market Include:
- QIAGEN
- Danaher
- Illumina, Inc.
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific, Inc.
- Agilent Technologies
- Merck KGaA
- GE Healthcare
- Bio-Rad Laboratories, Inc.
- Promega Corporation
For the purpose of this report, Emergen Research has segmented the global nucleic acid isolation and purification market on the basis of product, type, method, application, end use, and region:
Product Outlook (Revenue, USD Million; 2017-2027)
- Kits & Reagents
- Instruments
Type Outlook (Revenue, USD Million; 2017-2027)
- RNA
- DNA
Method Outlook (Revenue, USD Million; 2017-2027)
- Column-based
- Magnetic Bead-based
- Reagent-based
- Others
Application Outlook (Revenue, USD Million; 2017-2027)
- Oncology
- Precision Medicine
- Diagnostics
- Drug Discovery & Development
- Agriculture & Animal Research
- Others
End Use Outlook (Revenue, USD Million; 2017-2027)
- Academic Research Institutes
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Hospitals and Diagnostic Centers
- Others
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Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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