Nucleic Acid Isolation and Purification Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Nucleic Acid Isolation and Purification Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Nucleic Acid Isolation and Purification Market is expected to register a CAGR of 6.6% during the forecast period. growth of the nucleic acid isolation and purification market is due to the rapid technological advancements, wide-range applications of nucleic acid testing in diagnostics, and rise in the R&D funding in biotechnology and healthcare.

Key Highlights

• Nucleic acid has many diagnostic applications in tests of many diseases, such as STDs, congenital anomalies, cancer, etc.
• According to the US Department of Health & Human Services, there were approximately 36.7 million people worldwide living with HIV/AIDS as of 2016. Of these, 2.1 million were children (above 15 years old). The WHO stated that more than 1 million sexually transmitted infections are acquired every day worldwide and 500 million people are estimated to have genital infection with herpes simplex virus (HSV), along with 290 million women who have a human papillomavirus (HPV) infection. Therefore, all STDs can be diagnosed through nucleic acid isolation and identification procedures, and this signifies that the market studied is expected to increase globally.
• The current market is also growing, due to rapid technological advancements, like polymerase chain reaction (the original nucleic acid amplification technique), which transformed the approach of the clinical microbiologists in viewing and using nucleic acid techniques in clinical settings.

Key Market TrendsThe Equipment Segment is Expected to Hold a Major Market Share in the Nucleic Acid Isolation and Purification Market

• The equipment segment of the market studied is growing at a good pace. There are significant advancements found in the field of molecular diagnostics that have facilitated rapid and continued advancements in nucleic acid isolation and purification technologies, driven by the new knowledge provided by the mapping of genetic risk factors behind many diseases, where lifestyle has an important role to play.
• According to the World Health Organization (WHO) 2020, the alpha and beta thalassaemias are the most common inherited single-gene disorders in the world. The burden of thalassaemias in many regions of the world represents a major public health concern. For example in Iran, it was estimated that each year about 8,000 pregnancies are at risk of this disorder. Moreover, In addition, it was estimated that the incidence of genetic disorder Down syndrome was between 1 in 1,000 to 1 in 1,100 live births worldwide.
• Thus, the high incidence of genetic disorders along with growth in laboratory automation and decreasing changeability may lead to the growth of the equipment segment of the market studied.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

• North America is expected to hold a major market share in the nucleic acid isolation and purification market due to the very high use of downstream processes in the country. The growth of the market is also attributed due to the rapid technological advances, wide-range applications of nucleic acid testing in diagnostics boosting the market, rise in the R&D funding in biotechnology and healthcare.
• According to the Centers for Disease Control and Prevention (CDC), in United States Hemophilia A affects 1 in 5,000 male births. Each year approximately 400 babies are born with haemophilia A.
• Furthermore, the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.

Competitive Landscape

The Nucleic Acid Isolation and Purification Market is fragmented competitive and consists of several major players. Some of the recent market trends in the global nucleic acid isolation and purification market are new product development, mergers and acquisition, and partnerships. Agilent Technologies, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd, GE Healthcare, Promega Corporation, Qiagen NV, and Thermo Fisher Scientific Inc. are some of the major players in the nucleic acid isolation and purification market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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