SAN FRANCISCO, April 6, 2021 /PRNewswire/ -- The global nucleic acid isolation and purification market size is anticipated to reach USD 9.8 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.4% from 2021 to 2028. The growth can be primarily attributed to the technological advancements in molecular detection platforms. The technologies such as robotic liquid handling in automated DNA extraction systems, have improved the process flow. Such automation has streamlined all the tasks involved in various processes, such as DNA extraction from samples, serial dilution, and picking the desired gene of interest.
Key suggestions from the report:
The kits and reagents segment accounted for the largest revenue share in 2020 owing to the rising number of research studies focused on understanding rare and common genome-based diseases
The RNA isolation and purification segment holds the largest revenue share in 2020 due to its increasing use for the analysis of COVID samples
The DNA isolation and purification segment is expected to witness the fastest growth rate owing to its use in a variety of molecular biology applications
The magnetic beads segment accounted for the largest revenue share in 2020 and is expected to continue the trend owing to the advantage of obtaining the purest possible form of DNA/RNA and excluding other unwanted materials from the sample mixture
The diagnostics segment dominated the market and accounted for the largest revenue share in 2020 owing to the high adoption of NAI and P products for detecting and characterizing microorganisms
The pharmaceutical and biotechnology companies are expected to witness the fastest growth owing to their increasing research and development activities for drug development
North America has emerged as the highest revenue-generating region due to intensive research projects in the region for cancer detection and other chronic disorders
Companies operating in the market are launching new and automated systems for nucleic acid isolation and purification. For instance, in March 2021, QIAGEN N.V. launched an automated sample processing system the QIAcube Connect MDx for molecular diagnostic laboratories
The system helps in the automation of several steps such as lysis, binding, washing, and elution for RNA, DNA, and protein sample processing
The outbreak of SARS-CoV-2 in late 2019 in China quickly translated into a global pandemic, which led to high demand for efficient and affordable diagnostic tests that could be carried out in non-clinical as well as clinical settings. This also led to high demand for nucleic acid extraction kits which in turn has led the key players to increase their manufacturing capabilities. For instance, in March 2020, QIAGEN announced the expansion of its production capacity in the U.S. and Europe to reach 20 million monthly patient tests by the end of 2020.
Moreover, rapid diagnosis, effective treatment options, and future prevention plans are essential in the management of COVID-19. The current race for the development of cost-effective, point-of-contact test kits and efficient laboratory methodologies for the detection of coronavirus infection has driven a new frontier of diagnostic innovation. The increase in adoption of PCR for SARS-CoV-2 detection by a wide range of commercial laboratories drives the market, as nucleic acid isolation and purification is an important step in the PCR workflow.
Grand View Research has segmented the global nucleic acid isolation and purification market on the basis of product, type, method, application, end-use, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.