Growing Demand for Personalized Medicine Contributing to Market Growth
Personalized medicine aims to provide tailor-made therapies to individual patients, depending on the molecular basis of disease, has become popular over the recent years. The aging global population and the rising prevalence of chronic disease are factors that are putting unrelenting pressure on the capacity and financial viability of healthcare systems, across the world. Personalized medicine holds the promise of providing better patient care and a high safety margin, while also lowering total healthcare costs. Rising demand for personalized medicine has created tremendous opportunities in the field of genetic medicine, and in order to exploit these opportunities, novel technologies are to be developed, which, in turn, has resulted in the rapid expansion of the nucleic acid labeling market.
Other factors that are contributing to the growth of the market include rising genomic and enzymology research and advancements in tools for synthetic genome design.
High Cost and Complexity of Techniques are Limiting Market Growth
Despite significant advances in labeling techniques, the high cost and complexity of techniques remain a significant hurdle for the growth of the global market. A wide variety of labels and modifications can be incorporated into nucleic acids during their synthesis, and pre-labelled nucleic acid probes are commercially available through several manufacturers. However, purchasing custom-made nucleic acids probes remains very expensive. Furthermore, procedures such as the purification and modification of oligonucleotides, which are required in the majority of hybridization reactions, could result in additional costs. Other factors that could potentially impede market growth include the lack of skilled professionals.
North America Dominates the Nucleic Acid Labeling Market
In 2017, North America was the largest regional market in terms of revenue. The increasing prevalence of chronic diseases such as cancer, the aging population, a growing demand for targeted and personalized medicine, and favorable government initiatives are primary factors contributing to the large market size.
Key Developments in the Nucleic Acid Labeling Market
Jul 2018: Creative Bioarray launched a range of chromosome probes for gene amplification and translocation.
Jun 2018: New England Biolabs launched new NEBNext® single cell/low-input RNA library prep kit for increased transcript detection with ultra-low input amounts.
Major Players: Enzo Biochem Inc., GE Healthcare, Marker Gene Technologies Inc., Merck KGaA, New England Biolabs Inc., PerkinElmer Inc., Promega Corporation, Thermo Fisher Scientific Inc., and Vector Laboratories Inc., among others
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Market Dynamics
6.1.1 Rising Genomic and Enzymology research
6.1.2 Advancements in Tools for Synthetic Genome Design
6.1.3 Growing Demand for Personalized Medicine
6.2.1 Lack of Skilled Professionals
6.2.2 High Cost and Complexity of Techniques
7. Market Segmentation
7.1 By Label Type
7.2 By Technique
7.2.1 Terminal labeling
7.2.2 Nick translation
7.2.3 Random Priming
7.2.4 In vitro Transcription
7.3 By Application
7.3.2 DNA Sequencing
7.3.3 In Situ Hybridization
7.3.6 Other Applications
7.4 By Geography
7.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
7.4.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of the Middle East & Africa
7.4.5 South America
220.127.116.11 Rest of South America
8. Key Players and Competitive Landscape
8.1 Enzo Biochem Inc.
8.2 GE Healthcare
8.3 Marker Gene Technologies Inc.
8.4 Merck KGaA
8.5 New England Biolabs Inc.
8.6 PerkinElmer Inc.
8.7 Promega Corporation
8.8 Thermo Fisher Scientific Inc.
8.9 Vector Laboratories Inc.
*List Not Exhaustive
9. Future of the Market