Nucleic Acid Isolation & Purification Industry– Regional Synopsis
North America Market Analysis
The North America nucleic acid isolation and purification market is poised to capture the largest share of 35.9% during the forecast period, rising at a CAGR of 8.4%. The region is witnessing such growth driven by factors such as increasing investments in research and development, robust medical infrastructure, and funding from federal groups. Besides, in 2022 Department of Energy allocated a significant amount of USD 180 million in support of biotechnology and biomanufacturing research, reflecting a positive market support. The rising number of infectious disease testing further propels market expansion in the region.
The Canada nucleic acid isolation and purification market is witnessing robust growth opportunities fueled by expanded healthcare budgets and industry collaboration. In this context, in 2023, Canada enhanced its federal healthcare budget with a 13% increase from 2020, which is 9% of its budget, with a substantial USD 3.3 billion. Similarly, the provincial healthcare investments increased by 20% from 2021 to 2024, benefiting more than 200,000 patients in a year. This growing prominence of the country in this sector is driving business in nucleic acid isolation and purification further.
Asia Pacific Market Statistics
Asia Pacific nucleic acid isolation and purification market is unfolding remarkable growth opportunities with the fastest growth and a lucrative share of 25.6%, rising at a CAGR of 9.2% during the forecast timeline. The growth in the region is majorly fueled by the presence of key countries such as India, China, Japan, and South Korea, and their developmental superiority. Besides, the region’s governments offer their extended support with substantial investments and advanced diagnostic technologies that propel market growth, positioning Asia Pacific as a key leader in the market.
China is a global leader in the nucleic acid isolation and purification market, driven by the extensive support from public healthcare systems. In this context, government expenditure for nucleic acid isolation and purification increased by 18% over the last five years, demonstrating the country’s focus on molecular and biotechnology diagnostics. Besides, it is reported that in 2023, more than 1.6 million individuals diagnosed their conditions with nucleic acid-based methods, reflecting their higher accuracy and adoption. NMPA approved above 45 NGS kits, with the push towards precision medicine, thus denoting a positive market outlook.
