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(IT-NEWSWIRE.COM, May 02, 2020 ) The report "Nucleic Acid Isolation and Purification Market by Product (Reagent, Kit, Instruments), Method (Column, Magnetic Beads), Type (Genomic DNA, Plasmid, miRNA), Application (Precision Medicine), End User (Hospitals, Research Center) - Global Forecast to 2027", The global nucleic acid isolation and purification market is expected to reach USD 6.85 billion by 2027 from USD 2.77 billion in 2018, at a CAGR of 9.6%. The major factors driving the growth of the market include increasing public-private funding for life science research, technological advancements, and increasing automated systems in the nucleic acid isolation and purification market.
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By product, the kits segment is expected to dominate the nucleic acid isolation and purification market in 2018
On the basis of product, the nucleic acid isolation and purification market is segmented into instruments, kits, and reagents. In 2018, the kits segment is expected to account for the largest share of the market. The large share of this segment can be attributed to their low cost and ease of handling in applications such as gene sequencing, molecular diagnostics, and gene cloning.
The column-based isolation and purification segment is expected to dominate the market in 2018
On the basis of method, the nucleic acid isolation and purification market is segmented into column-based isolation and purification, reagent-based isolation and purification, magnetic bead-based isolation and purification, and other methods. In 2018, the column-based isolation and purification segment is expected to account for the largest share of the global nucleic acid isolation and purification market. This method is widely adopted because it is cost-effective, simpler, and faster than organic extraction, and can also be automated.
Based on application, the diagnostics segment is expected to register the highest CAGR during the forecast period
On the basis of application, the nucleic acid isolation and purification market is segmented into diagnostics; drug discovery and development; personalized medicine; agriculture and animal research; and other applications (such as forensics and biofuel research). In 2018, the diagnostics segment is expected to account for the largest share of the market and it is also expected to register the highest CAGR during the forecast period. The large share of the diagnostics segment can be attributed to the increasing awareness of genomic diagnostics among the patient population and increasing efficiency of genomics sequencing in the diagnosis of diseases.
North America to dominate the nucleic acid isolation and purification market
By region, the nucleic acid isolation and purification market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of the market. Significant R&D spending in biotechnology and pharmaceutical companies, technological advancements, and government support are the key factors driving the growth of the nucleic acid isolation and purification market in North America.
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The nucleic acid isolation and purification market is highly consolidated with few major companies holding a majority of the market share. In 2018, QIAGEN (Netherlands), Thermo Fisher Scientific (US), and Roche (Switzerland) are expected to dominate the nucleic acid isolation and purification market. Other prominent players in this market include Merck KGaA (Germany), Agilent Technologies (US), Illumina (US), Takara Bio (Japan), Promega Corporation (US), GE Company (US), Danaher Corporation (US), New England Biolabs (US), and Bio-Rad Laboratories (US).
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