Nucleic Acid Labeling Market to Grow with a CAGR of ~9%, 2033
- March 27, 2023
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Research Nester published a report titled “Nucleic Acid Labeling Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global nucleic acid labeling market in terms of market segmentation by product type, labeling technique, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global nucleic acid labeling market is anticipated to grow with a CAGR of ~9% during the forecast period, i.e., 2023-2033. The market is segmented by product type into reagents and kits. Out of these, the kits segment is anticipated to garner the largest revenue by the end of 2033. The use of DNA labeling and detection products for the detection and purification of samples is expected to drive segment growth over the course of the forecast period. Further, key manufacturers are developing advanced labeling kits as well as increasing cases of COVID-19, which is expected to fuel segment growth.
The global nucleic acid labeling market is estimated to garner revenue of USD 4 Billion by the end of 2033, up from revenue of USD 1 Billion in the year 2022. Furthermore, the increasing use of healthcare facilities, a growing awareness of early disease detection, an growth in medicare spending, an increase in R&D activities, as well a rise in per capita income are some of the major factors anticipated to drive the growth of the market during the forecast period. For instance, compared to 2019, worldwide income per capita increased by 4.8% in 2021, according to the World Bank.
Geographically, the global nucleic acid labeling market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to garner the largest revenue by the end of 2033. As a result of the developing research in genomics, favorable reimbursement policies, and the availability of new diagnostics solutions owing to the presence of key emerging companies in the region, the market is expected to grow during the forecast period. Furthermore, rising healthcare expenditures and R&D spending in the region are expected to drive the regional market.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing R&D Activities in Research Centers to Boost the Market Growth
According to statistics published by the World Bank, the number of researchers involved in research and development projects per 1,000,000 people was 1597 in 2018. This represents a significant increase over the number of 1412 researchers per million in 2015.
Research and drug discovery activities are being funded by government organizations, which have resulted in the development of advanced and innovative treatments for disease diagnosis. In addition, there are companies that offer nucleic acid labeling reagents and kits that are specifically designed for research. This is expected to drive the global nucleic acid labeling market during the forecast period.
However, higher treatment procedure costs are expected to operate as key restraints to the growth of the global nucleic acid labeling market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global nucleic acid labeling market which includes company profiling of Thermo Fisher Scientific Inc., New England Biolabs., PerkinElmer Inc., F. Hoffmann La-Roche AG, GENERAL ELECTRIC COMPANY, Merck KGaA, Enzo Biochem Inc., Promega Corporation, Vector Laboratories, Agilent Technologies, Inc., and LubioScience GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts a detailed overview of the global nucleic acid labeling market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.