Nucleic acid isolation and purification is a set of molecular biology techniques used for the extraction of DNA and RNA for use in downstream applications. Important downstream applications in the field of molecular biology are sequencing, cloning, and polymerase chain reaction. These downstream applications are important parts of life science research, molecular diagnostics, forensics, and genetic engineering.
Nucleic acid isolation and purification market is majorly a research-driven sector which is in turn driven by increasing healthcare expenditure and increasing R&D investments from pharmaceutical companies. For instance, Genome Canada had committed to invest USD 30 million in the Genomics Applications Partnership Program (GAPP) in 2013 to support small-scale as well as large-scale genomics projects. In October 2012, Akonni Biosystems received USD 280 million from the NIH to develop benchtop nucleic acid isolation instruments. These funding agencies help to increase the purchasing power of major research institutes, thereby driving the market growth.
On the other hand, Asia is expected to grow at a faster rate than any other region as healthcare expenditure in this geographic segment is growing at a faster rate. The growth rates of healthcare expenditures in Asia and RoW between 2003 and 2013 was 10.48% and 13.90%, respectively. Rapid growth in healthcare expenditure in these emerging geographies presents an important growth opportunity for nucleic acid isolation and purification market.
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Asia also has a strong trend of commercializing biotechnology research. Biotechnology and pharmaceutical companies are the fastest growing end users of the nucleic acid isolation and purification market. These companies use purified nucleic acid in R&D activities related to molecular biology studies and all recombinant DNA techniques. The major regions in Asia include China, India, and Japan. The governments in these regions are taking initiatives to boost the overall biotechnology and pharmaceutical industries. The government in Japan is undertaking various initiatives to promote biotechnology research. For instance, in 2013, the government of Japan approved a stimulus package of about USD 116 billion to boost its stagnant economy, which included USD 11 billion allocated for life science and technology research, of which USD 359 million would be used to promote research on innovative medical treatments and biotechnology and pharmaceuticals.
North America is expected to account for the largest share of the global nucleic acid isolation and purification market in 2015. The major factors influencing the growth of this market in North America are strong R&D investment by pharmaceutical and biotechnology companies, increasing health care expenditure and increasing government funding for biotechnology research in this region.