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Nucleic Acid Isolation & Purification Market Report 2024 - Industry Outlook
Nucleic Acid Isolation & Purification Market Report
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According to The Business Research Company's, The nucleic acid isolation & purification market size has grown rapidly in recent years. It will grow from $5.43 billion in 2023 to $5.99 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to genomic research advancements, emergence of molecular diagnostics, biotechnology industry growth, focus on infectious disease research, forensic applications.
The nucleic acid isolation & purification market size is expected to see rapid growth in the next few years. It will grow to $9.16 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to research collaborations and funding, automation and high-throughput solutions, point-of-care testing demand, agricultural and food science applications, pharmaceutical drug development. Major trends in the forecast period include sustainability in bioprocessing, focus on automation, adoption of next-generation sequencing, advancements in genomic research, emergence of personalized medicine.
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Market Drivers and Trends:
Increasing adoption of automation in production operations is expected to propel the nucleic acid isolation and purification market. Automation is the use of technology such as robots to automate processes that would otherwise require manual involvement. Automation in nucleic acid separation and purification is critical for improving overall workflow and outcomes in a variety of applications including life sciences, diagnostics, sequencing, and genetic investigations. For instance, in March 2022, according to the Manufacturing India article, an India-based agency that provides new related information to various industries, including production, automation updates, manufacturing, and automation updates, reported that wide adoption of automation had been seen in Indian manufacturing industries, and it was estimated that by 2050, approximately 85-90% of manufacturing firms in India will have adopted automation in operations. Therefore, increasing adoption of automation in production operations will drive the nucleic acid isolation and purification market going forward.
Technological advancement is a key trend gaining popularity in the nucleic acid isolation and purification market. Major market players operating in nucleic acid isolation and purification are concentrating on creating innovative technologies to sustain their market position. For instance, in July 2023, according to the Sansure Biotech, a China-based medical laboratory company, launched Natch 16S, a nucleic acid extraction system. The Natch 16S system comes equipped with a magnetic bead technology, UV (Ultraviolet) lamp, as well as an air filtration solution. The Natch 16S Nucleic Acid Extraction System is a sophisticated solution that uses complex technology to achieve better results.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Illumina Inc., F. Hoffmann-La Roche AG, Merck KGaA, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Takara Bio Inc., Promega Corporation, New England Biolabs, Norgen Biotek Corporation, AutoGen Inc., MagGenome, Zymo Research, LGC Limited, Biogenuix, PCR Biosystems Inc., Abcam plc., PerkinElmer Inc., GE Healthcare, QIAGEN, Danaher Corporation, Bioline, Biotechrabbit, BioWORLD, Epicentre, Hamilton, Omega Bio-tek, Sigma-Aldrich, FavorGen Biotech Corp, TIANGEN Biotech Co Ltd.
Nucleic Acid Isolation & Purification Market 2024 Key Insights:
• The nucleic acid isolation & purification market size is expected to see rapid growth in the next few years. It will grow to $9.16 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• Personalized Medicine Driving Growth Of Nucleic Acid Isolation And Purification Market
• Innovative Technological Advancements Propel Nucleic Acid Isolation And Purification Market
• North America was the largest region in the nucleic acid isolation & purification market share in 2023
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