Nucleic Acid Extraction Instruments & Reagents Market set to witness surge in demand over the forecast period 2024-2030

Nucleic Acid Extraction Instruments & Reagents Market: Introduction

According to the report, the global nucleic acid extraction instruments & reagents market was valued at US$ 2.4 Bn in 2019. It is projected to expand at a considerable CAGR from 2024 to 2030. 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 2019. 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.

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Strategic Acquisitions & Collaborations among Key Market Players

Leading players, such as QIAGEN and Thermo Fisher Scientific, focus on enhancing market presence by adopting inorganic growth strategies. This, in turn, enables them to cater to a rise in the demand and consolidate their position in the global nucleic acid extraction instruments & reagents market. In November 2024, QIAGEN entered into a strategic collaboration with BioNTech SE to develop and commercialize a tissue-based companion diagnostic. The test covers a panel of Human papillomavirus (HPV) genotypes, paired with investigational treatment BNT113, to identify patients whose cancers are caused by human papillomavirus (HPV) infections.

In September 2024, Thermo Fisher Scientific announced a collaboration of Thermo Fisher Precision Medicine Science Center (PMSC) with the University of Nebraska Medical Center and AstraZeneca for the development of novel solutions for unmet needs in clinical biomarker characterization and discovery.

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Extraction Kits, Reagents, & Consumables Dominated Global Market

In terms of type, the extraction kits, reagents, & consumables segment is projected to account for a major share of the global nucleic acid extraction instruments & reagents market during the forecast period. Nucleic acid extraction kits are commonly used in the clinical microbiology laboratory. These test kits provide essential requirements for nucleic acid extraction. This is likely to drive the segment during the forecast period. Higher usage of nucleic acid extraction kits, reagents, & consumables further boost the segment.

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Focus on Strategic Acquisitions and Partnerships by Key Players to Propel Global Market

The global nucleic acid extraction instruments & reagents market is fragmented in terms of the number of players. Key players operating in 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.

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