CHICAGO, June 3, 2020
CHICAGO, June 3, 2020 /PRNewswire/ -- According to the new market research report "Nucleic Acid Isolation and Purification Market by Product (Kit, Reagent, Instrument), Method (Column, Magnetic Beads), Type (Genomic DNA, Plasmid DNA, miRNA), Application (Drug Discovery, Precision Medicine), End User (Academic) - Global Forecast to 2025", published by MarketsandMarkets™, the global Nucleic Acid Isolation and Purification Market is projected to reach USD 4.8 billion by 2025 from USD 3.2 billion in 2020, at a CAGR of 8.9% during the forecast period.
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The growth of this market can mainly be attributed to the increasing R&D activities as well as technological advancements and increasing automation. On the other hand, the high cost of automated instruments is expected to hinder the growth of the market.
By product, the kits segment accounted for the largest market share in 2019.
On the basis of product, the nucleic acid isolation and purification market has been segmented into kits, reagents, and instruments. The kits segment accounted for the largest share of the global nucleic acid isolation and purification market in 2019. Growth in this market can be attributed to the low cost and easy usage of kits in applications such as gene sequencing, molecular diagnostics, and gene cloning.
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By application, the diagnostics segment accounted for the largest market share in 2019.
On the basis of application, the global nucleic acid isolation and purification market is segmented into diagnostics, drug discovery & development, personalized medicine, agriculture & animal research, and other applications. In 2019, the diagnostics segment accounted for the largest share of the global nucleic acid isolation and purification market; this segment is also expected to register the highest CAGR during the forecast period. The large share and high growth rate of this segment can be attributed to the growing awareness of genomic diagnostics among patients and the increasing efficiency of genomics sequencing in the diagnosis of diseases.
By Type, the plasmid DNA isolation and purification segment accounted for the largest market share in 2019.
On the basis of type, the global nucleic acid isolation and purification market is segmented into plasmid DNA isolation and purification, total RNA isolation and purification, circulating nucleic acid isolation and purification, genomic DNA isolation and purification, messenger RNA isolation and purification, microRNA isolation and purification, PCR cleanup, and other nucleic acid isolation and purification types. In 2019, the plasmid DNA isolation segment accounted for the largest share of the market. The large share of this market segment can be attributed to the wide use of purified plasmid DNA in a variety of downstream applications, such as PCR, sequencing, expression of proteins, gene therapy, and transfection.
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North America dominates the nucleic acid isolation and purification market during the forecast period.
In 2019, North America accounted for the largest share of the nucleic acid isolation and purification market, followed by Europe. The large share of this region can be attributed to factors such as significant R&D spending in biotechnology and pharmaceutical companies, the large size of the biotechnology industry, technological advancements, and government support in the region. However, the Asia Pacific region is expected to grow at the highest rate during the forecast period
QIAGEN N.V. (Netherlands), Thermo Fisher Scientific (US), and F. Hoffmann-La Roche Ltd. (Switzerland) are the key players operating in the nucleic acid isolation and purification market. Other prominent players in this market include Promega Corporation (US), Agilent Technologies (US), Bio-Rad Laboratories (US), Danaher Corporation (US), GE Healthcare (US), Illumina, Inc. (US), Merck KGaA (Germany), Takara Bio (Japan), Zymo Research (US), New England Biolabs (US), Norgen Biotek Corp (Canada), Omega Bio-tek (US), Genaxxon Bioscience GmbH (Germany), 3B BlackBio Biotech India Limited (India), Invitek Molecular (Germany), BioVision (US), and Analytik Jena AG (Germany).
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