The global nucleic acid isolation and purification market is poised to reach a substantial milestone, with forecasts projecting it to hit US$ 994.8 million by 2022. This surge is attributed to several key factors including rising investments by government and private agencies in pioneering biotechnological diagnostic techniques and an escalating demand to comprehend and characterize microbial diversity.
According to Future Market Insights (FMI), the market is estimated to create an absolute dollar opportunity of US$ 1,452.9 million by 2029, demonstrating a robust growth trajectory with a compound annual growth rate (CAGR) of 5.6% during the forecast period spanning from 2022 to 2029.
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North America and East Asia are anticipated to emerge as leading contributors, collectively accounting for more than half of the global nucleic acid isolation and purification sales by the end of 2029. Within the market, the DNA extraction and purification kits segment is expected to witness rapid expansion, capturing nearly 59.8% of the total demand share through 2022.
Key developments in the market include the adoption of magnetic beads-based nucleic acid purification and nucleic acid extraction filter plate technology, reflecting the industry’s commitment to innovation and efficiency.
“The global nucleic acid isolation and purification market is witnessing significant growth, driven by the imperative need to combat infectious diseases and the burgeoning biopharmaceutical research sector,” stated a spokesperson from FMI.
Despite these advancements, challenges persist. The market has experienced a negative shift attributed to the high cost of equipment associated with extraction techniques and the time required for processing. However, the growing research sphere within the biopharmaceutical industry offers promising avenues for market growth in the projected period.
The surge in BPS values underscores the market’s pivotal role in facilitating the extraction and development of novel therapeutics for combating infectious diseases globally, as well as the expanding contract research organization (CRO) activities bolstering market dynamics.
Key Takeaways: Nucleic Acid Isolation and Purification Market By 2022 to 2029
- The market is expected to grow at a Compound Annual Growth Rate (CAGR) of various rates depending on the source, with estimates ranging 5.6%.
- The market size is predicted to reach between US$ 994.8 Million and US$ 1,452.9 Million by 2029.
- The Asia Pacific region is anticipated to be the fastest-growing market due to factors like increasing research activities.
- Drivers for this growth include rising research and development in precision medicine and biology, along with the need for high-quality nucleic acids for downstream applications like PCR and sequencing.
- The COVID-19 pandemic had a significant impact, with an initial surge in demand due to research efforts, though estimates vary on the long-term effects.
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Competitive Landscape:
Major players in the global market for nucleic acid isolation and purification are striving to introduce innovative products to stay ahead of the competition. Conversely, certain manufacturers are prioritizing inorganic tactics like partnerships, collaborations, and acquisitions with other firms to innovate their product offerings.
For instance,
- In February 2020, Promega Corporation, a leading biochemistry and molecular biology firm headquartered in the USA, unveiled its latest offering, the Wizard HMW DNA Extraction Kit. This kit ensures consistent performance in long-read sequencing applications and aids researchers in handling large DNA fragments effectively.
Key Companies Profiled:
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- F. Hoffmann-La Roche AG
- Merck KGaA
- Agilent Technologies
- Bio-Rad Laboratories, Inc.
- Takara Bio, Inc.
- Promega Corporation
- New England Biolabs
- LGC Limited
- Abcam plc
- Norgen Biotek Corp
- AutoGen, Inc.
- Biogenuix
- PCR Biosystems, Inc.
- MagGenome
- Apical Scientific Sdn. Bhd
- MACHEREY-NAGEL GmbH & Co. KG
Nucleic Acid Isolation and Purification Market by Category:
By Product:
- DNA Extraction and Purification Kits
- Column Based Kits
- Magnetic Beads
- Reagent Based Kits
- RNA Extraction and Purification Kits
- Column Based Kits
- Magnetic Beads
- Reagent Based Kits
By Application:
- Plasmid Isolation and Purification
- DNA Isolation and Purification
- RNA Isolation and Purification
By End User:
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations
- Academic Research Institutes
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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