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Nucleic Acid Extraction Instruments And Reagents Market Size, Industry Trends And Latest Insights 2024
The Business Research Company recently released a comprehensive report on the Global Nucleic Acid Extraction Instruments And Reagents Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
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According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Nucleic Acid Extraction Instruments And Reagents Market 2024 Key Insights:
• 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%.
• Rising Prevalence Of Chronic Diseases Fuels Expansion Of The Nucleic Acid Extraction Instruments And Reagents Market
• Efficiency In The Nucleic Acid Extraction Instruments And Reagents Market
• North America was the largest region in the nucleic acid extraction instruments and reagents market in 2023
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