|
|
 |
|
Viewing report
|
|
|
|
U.S. Nucleic Acid Isolation Markets
Frost & Sullivan, Oct 2005
Dwindling NIH Budget Limits Market for Nucleic Acid Isolation Products
In 2004, the National Institute of Health (NIH) had just completed a five year doubling campaign involving 15 percent increases for each of the previous five years. Compared to the previous 15 percent increases, the fiscal year 2004 NIH budget slowed growth to 2.7 percent to only $26.9 billion.This dramatic decrease in funding will greatly reduce revenue for the nucleic acid isolation market.
Focus on Marketing and Product Development Efforts Towards Growing Market Segments
The shift from genomics to proteomics research should not be a limiting factor for manufacturers of nucleic acid isolation products. Research in growing areas such as molecular diagnostics and forensics should offset the shrinking genomics market. Manufacturers should take advantage of these growing market segments by addressing these areas.
The U.S. molecular diagnostics market was $984.3 million in 2003 with a growth rate of over 20 percent, according to Frost & Sullivan. In addition, this market is predicted to be close to $4 billion by 2010. The forensics market is growing at a rate of over 20 percent, as well. If manufacturers focus marketing efforts towards these high growth segments, revenues will greatly increase. In addition, manufacturers should understand the requirements in molecular diagnostics and forensics, focusing on a suited product line. Beyond molecular diagnostics
and forensics, researchers should monitor markets in other applicable segments.
|
|
|
|
