Nucleic Acid Extraction Market to Reach $7 Billion by 2028, Driven by Rapid Growth in Personalized Medicine

The nucliec acid extraction instruments and reagents market size has grown rapidly in recent years. It will grow from $4.22 billion in 2023 to $4.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to genomic research advancements, clinical diagnostics expansion, emergence of next-generation sequencing, increasing prevalence of genetic disorders, global focus on infectious disease research.

The nucliec acid extraction instruments and reagents market size is expected to see rapid growth in the next few years. It will grow to $7 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to rapid growth in personalized medicine, point-of-care testing expansion, increased focus on rare diseases, advancements in cancer research. Major trends in the forecast period include applications in agricultural biotechnology, technological innovations in automation, biotechnology boom, environmental dna (edna) analysis, blockchain in genomic data security.

Market Overview -
Nucleic acid extraction instruments and reagents refer to the tools and substances used in the process of isolating and purifying nucleic acids, such as DNA or RNA, from biological samples. Nucleic acid extraction instruments typically include specialized equipment designed to perform various steps of the extraction process. These instruments and reagents are essential in molecular biology, genetics, and diagnostic laboratories.

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Rising Prevalence Of Chronic Diseases Fuels Expansion Of The Nucleic Acid Extraction Instruments And Reagents Market
The increase in the prevalence of chronic diseases is expected to propel the growth of the nucleic acid extraction instruments and reagents market going forward. Chronic diseases are long-term medical conditions that persist over an extended period and often progress slowly. Nucleic acid extraction instruments and reagents play a crucial role in chronic diseases, particularly in the field of molecular diagnostics and research. Nucleic acid extraction instruments and reagents are integral to the study, diagnosis, monitoring, and treatment of chronic diseases. They enable genetic testing, biomarker analysis, research, pharmacogenomic testing, and disease monitoring, all of which contribute to a better understanding and management of chronic conditions. For instance, in January 2023, according to the National Centre for Biotechnology Information, a US-based division of the United States National Library of Medicine (NLM), which is part of the National Institutes of Health (NIH), in 2020, a chronic condition is expected to grow 99.5% from 71.522 million to 142.66 million by 2050. Therefore, the increase in the prevalence of chronic diseases is driving the growth of the nucleic acid extraction instruments and reagents market going forward.

Competitive Landscape -
Major companies operating in the nucleic acid extraction instruments and reagents market report are Thermo Fisher Scientific Inc., F Hoffmann-La Roche Ltd., Merck Group, Corning Incorporated, Agilent Technologies Inc., PerkinElmer, Illumina Inc., Beckman Coulter, Bio-Rad Laboratories Inc., Qiagen NV, Eppendorf AG, LGC Biosearch Technologies, Promega Corporation, RBC Bioscience Corp., Takara Bio Inc., Meridian Bioscience, Bioneer Corporation, Macherey-Nagel, New England Biolabs, Miltenyi Biotec, Omega Bio-tek, BioVision Inc., Norgen Biotek Corp., Biosan Laboratories Inc., G-Biosciences, ADS Biotec Inc., BioChain Institute Inc., Lucigen Corporation.

Efficiency In The Nucleic Acid Extraction Instruments And Reagents Market
Technological advancements are a key trend gaining popularity in the nucleic acid extraction instruments and reagents market. Companies operating in the nucleic acid extraction instruments and reagents market are adopting new technologies to sustain their position in the market. For instance, in November 2021, One BioMed Pte Ltd, a Singapore-based molecular life science company launched the cartridge-based Xceler8(TM) Nucleic Acid Extraction Technology. The Xceler8 Platform represents a major turning point in the evolution of nucleic acid extraction technology, radically simplifying sample preparation and creating a seamless workflow for relevant users. It is designed for the extraction of nucleic acids, such as DNA or RNA, from biological samples.

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Key Segments -
The nucleic acid extraction instruments and reagents market covered in this report is segmented -
1) By Type: Instruments, Spin Columns, Beads Or Magnetic Beads, Automated Nucleic Acid Extraction Systems, Extraction Kits And Reagents And Consumables, Other Types
2) By Extraction Type: DNA Extraction, DNA Or RNA Extraction, RNA Extraction
3) By Method: Solution-Based Methods, Solid-Phase-Based Methods
4) By End User: Academic Research Institutes, Hospitals And Diagnostic Centers, Pharmaceutical And Biotechnology Industry, Contract Research Organizations (CROs), Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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