The global nucleic acid isolation and purification market is expected to grow at a CAGR of over 8% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global nucleic acid isolation and purification market from 2017-2021. (Graphic: Business Wire)
Global nucleic acid isolation and purification market segmentation by end-user and geography
Technavio's report on the global nucleic acid isolation and purification market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user type, including academic and research institutes and pharmaceutical and biotechnology companies. As projected in 2016, approximately 42% of the market share originated from the academic and research institutes end-user segment.
Based on geography, the global nucleic acid isolation and purification market has been segmented into APAC, the Americas, and EMEA. As of 2016, the Americas has a market share of approximately 42%. Increasing awareness of importance about diagnostics in personalized medicine and initiatives undertaken by the governments to promote the use of personalized medicine are the driving factors for the market in the Americas.
"There has also been a rise in research projects in the US due to the awareness about high potential of regenerative medicines. The US is followed by Brazil, Mexico, and Canada with improving healthcare and spending, and affordability of the product. Clinical trials and development of new medicines is expected to boost the growth of nucleic acid isolation and purification market in this region," says Tasneem Ali, a lead analyst at Technavio for lab equipment research.
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Nucleic acid isolation and purification market: competitive vendor landscape
The global nucleic acid isolation and purification market is identified by the presence of diversified international and regional vendors. Regional vendors are finding it difficult to compete with the key players as they are expanding their dominance in the market in terms of quality, price, financial resources, and market reach. Increase in product innovations, product/service extensions, and M&A is expected to drive the competition in the market.
International players are expected to grow by acquiring regional or local players. Strategic initiatives have been implemented for the marketing and manufacturing of nucleic acid isolation and purification products.
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Other topics covered in the report:
Market drivers:
- Increasing occurrence of genetic disorder, cancer, and infectious diseases
- Rising demand for pure nucleic acids in pharmaceutical industry for drug development
Market challenges:
- Lack of skilled professionals
- High cost of instruments
Market trends:
- Increasing importance of promotional activities
- Increase in initiatives to promote molecular research
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