pune, Maharashtra -- (SBWIRE) -- 12/06/2023 -- Nucleic Acid Isolation and Purification Market in terms of revenue was estimated to be worth $6.4 billion in 2023 and is poised to reach $9.4 billion by 2028, growing at a CAGR of 8.1% from 2023 to 2028 according to a new report by MarketsandMarkets. Factors responsible for the growth of this market include technological advancements, growing research & development activities, and growing automation. Opportunities such as emerging economies are expected to drive the market.

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In 2022, based on products, the kits segment accounted for the largest share of the global nucleic acid isolation and purification market.

Based on products, the nucleic acid isolation and purification market has been segmented into kits, reagents, and instruments. The instruments segment is further segmented into automatic and manual instruments. In 2022, the kits segment accounted for the largest share of the global nucleic acid isolation and purification market. Factors driving the market growth include benefits of kits such as price and ease of usage in molecular biology techniques.

In 2022, the plasmid DNA isolation segment accounted for the largest share of the market.

Based on type, the global nucleic acid isolation and purification market is segmented into circulating nucleic acid isolation and purification, genomic DNA isolation and purification, messenger RNA isolation and purification, microRNA isolation and purification, plasmid DNA isolation and purification, total RNA isolation and purification, and other nucleic acid isolation and purification types. In 2022, the plasmid DNA isolation segment accounted for the largest share of the market. The segment is driven by factors such as growing wide usage of purified plasmid DNA and increasing application in gene expression profiling, in various downstream applications.

In 2022, magnetic bead-based isolation and purification method accounted for the highest share.

Based on method, the global nucleic acid isolation and purification market is segmented into magnetic bead-based isolation and purification, reagent-based isolation and purification, column-based isolation and purification, and other methods. In 2022, magnetic bead-based isolation and purification method accounted for the highest share due to benefit of using magnetic beads is the ability of isolating nucleic acids and other biomolecules directly from crude samples, and from diverse types of samples, without much processing.

In 2022, the diagnostics segment dominated the global nucleic acid isolation and purification market.

Based on application, the global nucleic acid isolation and purification market is segmented into agriculture & animal research, diagnostics, drug discovery & development, personalized medicine, and other applications. In 2022, the diagnostics segment held the largest share of the global nucleic acid isolation and purification market. Key factors driving market growth include the expanding use of nucleic acid isolation in pathogen identification, increasing patient awareness of genomic diagnostics, and the rising efficiency of genomics sequencing for disease diagnosis.

In 2022, the Asia Pacific region is the fastest-growing region of the nucleic acid isolation and purification market.

The nucleic acid isolation and purification market is broadly divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is the fastest growing and most dynamic market in the world and is estimated to be the most attractive regional market nucleic acid isolation and purification market. Countries such as China, India, and Japan are expected to witness high growth in the market for nucleic acid isolation and purification because of the large population in these countries. Also, due to rising health concerns, higher incomes, and better government initiatives, the pharmaceutical market in this region is projected to grow. Together, these factors fuel the growth of the nucleic acid isolation and purification market in the Asia Pacific region.

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Nucleic Acid Isolation and Purification Market Dynamics:

Drivers:

1. Increasing R&D activities
2. Technological advancements and increasing automation
3. Growing demand for molecular diagnostics

Restraints:

1. High cost of automated instruments

Opportunities:

1. Growth opportunities in emerging economies
2. Improving regulatory and reimbursement scenario
3. Molecular diagnostics and personalized medicine

Challenge:

1. Operational barriers and shortage of skilled professionals
2. Introduction of alternative technologies

Key Market Players of Nucleic Acid Isolation and Purification Industry:

Key players in the nucleic acid isolation and purification market include, Prominent players in the nucleic acid isolation and purification market are Thermo Fisher Scientific Inc. (US), QIAGEN (Germany), Merck KGaA (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Promega Corporation (US), Agilent Technologies, Inc. (US), Danaher(US), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), Takara Bio Inc. (Japan), New England Biolabs (US), Abcam Plc (UK), KILPEST India Limited (India), Apical Scientific Sdn. Bhd. (Malaysia), Endress+Hauser Group Services AG (Switzerland), GENAXXON bioscience GmbH (Germany), LGC Biosearch Technologies (US), Zymo Research Corporation (US), Norgen Biotek Corp. (Canada), Omega Bio-Tek, Inc. (US), FAVORGEN Biotech Corp. (China), TIANGEN Biotech (Beijing) Co., Ltd. (China), AutoGen Inc. (US), PCR Biosystems (UK), and Biogenuix (India).

The primary interviews conducted for this report can be categorized as follows:

- By Respondent: Supply Side- 80% and Demand Side 20%
- By Designation: Managers- 45%, CXOs and Directors - 30%, and Executives - 25%
- By Region: North America -37%, Europe -30%, Asia-Pacific -25%, Latin America -5%, Middle East & Africa- 3%

Recent Developments:

- In August 2023, Danaher Corporation entered into a definitive agreement to acquire all the outstanding shares of Abcam. Through this development, Abcam is expected to operate as a standalone operating company within Danaher's Life Sciences segment.
- In July 2023, INOVIQ and Promega announced a global joint marketing agreement for EXO-NET exosome isolation and nucleic acid purification solutions.
- In May 2022, Thermo Fisher partnered with the Qatar Genome Program (QGP), a member of the Qatar Foundation (QF), to accelerate genomic research and clinical applications of predictive genomics in Qatar.

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