Global Nucleic Acid Isolation & Purification Market projected to grow to USD 12.3 Billion by 2033
From GlobeNewswire: 2024-06-21 03:00:00
The Global Nucleic Acid Isolation & Purification Market is projected to grow from USD 5.5 Billion in 2023 to USD 12.3 Billion by 2033, at a CAGR of 8.38%. Nucleic acid isolation is crucial in molecular biology, with applications in genomics, proteomics, and personalized medicine driving market growth. However, high costs and lack of standardization are hindering market expansion.
The kit product type segment dominates the market, with kits being essential for preparing samples in applications such as PCR, sequencing, and gene expression analysis. Key market players are focusing on creating innovative kit products, propelling market growth.
The plasmid DNA isolation and purification type segment is expected to grow rapidly, as it involves automated isolation of high molecular weight DNA for genome assembly and sequencing. Magnetic beads, which enable highly sensitive diagnostic assays, held the largest revenue share in the market in 2023.
Personalized medicine, which incorporates genetic profiles into diagnostic and treatment decisions, is anticipated to grow at the fastest rate. Hospitals and diagnostic centers currently dominate the market, making significant investments in nucleic acid isolation and purification technology.
North America leads the market with significant investments in genomics research, while Asia-Pacific is expected to grow the fastest due to increasing demand for nucleic acid-based products and supportive government initiatives. Key players in the market include Thermo Fisher Scientific, QIAGEN, Illumina, and Roche.
Recent developments include a joint marketing agreement between Australia-based Inoviq and US-based Promega Corporation to co-market exosome capture technology and nucleic acid purification systems. The market is segmented based on product, type, method, application, and end-use, with revenue forecasts provided until 2033.
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