Nucleic Acid Extraction Instruments & Reagents Market size, Growth, Trends, and Forecasts 2030
The global Nucleic Acid Extraction Instruments & Reagents market gathered revenue around USD 2.5 Billion in 2020 and market is set to grow USD 4.8 Billion by the end of 2030. The global Nucleic Acid Extraction Instruments & Reagents market is estimated to expand at a modest CAGR of 7.1% during the prediction period2021 to 2030.
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.
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.
The expansion of the nucleic acid extraction instruments & reagents market can be attributed to the rising prevalence of chronic and infectious diseases, increasing number of patients suffering from COVID-19, rise in awareness and acceptance of personalized medicine and companion diagnostics, and increasing geriatric population. In terms of revenue, North America was a major market for nucleic acid extraction instruments & reagents in 2020. The growth of the market in the region can be attributed to an increase in the demand for biopharmaceuticals such as vaccines, proteins, antibodies, plasma, enzymes, biologics, and peptides for the treatment of cancer, neurological diseases, and chronic kidney diseases. Moreover, rise in the prevalence of lifestyle diseases, increase in healthcare spending, and strong economy are estimated to contribute to North America’s dominance of the global nucleic acid extraction instruments & reagents market during the forecast period. These factors are likely to augment the market in North America during the forecast period.
Increase in R&D funding in healthcare and biotechnology, and rise in technological advancements in molecular testing are expected to drive the nucleic acid extraction instruments & reagents market during the forecast period. Additionally, an increase in the prevalence of infectious diseases, such as COVID-19, is expected to drive the global nucleic acid extraction instruments & reagents market.
This research report purposes at stressing the most lucrative growth prospects.The aim of the research report is to provide an inclusive valuation of the Nucleic Acid Extraction Instruments & Reagents market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Nucleic Acid Extraction Instruments & Reagents market reportaids in comprehendingmarket structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-downimpact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilaracross various industry verticals. The research reportofferspresent short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lastingtactics for recovery and by region.
Nucleic Acid Extraction Instruments & Reagents market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplish sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share.Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Nucleic Acid Extraction Instruments & Reagents Market are:
The global nucleic acid extraction instruments & reagents market are Thermo Fisher Scientific, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Merck KGaA, Danaher Corporation, F. Hoffmann-La Roche Ltd., Illumina, Inc., Takara Bio, Inc., Promega Corporation, and QIAGEN.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects includingproduct type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2030 and covers subsequent region in its scope:
Global Nucleic Acid Extraction Instruments & Reagents Market: Segmentation
North America
Europe
Asia Pacific
Central & South America
Middle East and Africa
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
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Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers