Personalized medicine aims to provide tailor-made therapies to individual patients, depending on the molecular basis of disease, which has become popular in recent years. Healthcare technology, genomics involving nucleic acid labeling technology, connected devices, big data analytics, and artificial intelligence are generating vast amounts of health data and insights. This is enabling healthcare providers to offer better and faster diagnoses and make more informed treatment decisions. Rising demand for personalized medicine has created tremendous opportunities in the field of genetic medicine, and in order to exploit these opportunities, novel technologies must be developed, which, in turn, has resulted in the rapid expansion of the market. Therefore, increasing focus on personalized medicine and patient-centered approach is driving the growth of the nucleic acid labeling market.
Key Market Trends
Biotin Based Segment is Expected to Show Better Growth Over the Forecast Period
Based on label type, the market is segmented into biotin-based, fluorescent, radioactive and other label types. Non-radioactively labeled probes, such as biotin-based probes have several advantages over radioactive probes, such as increased stability and their non-hazardous nature. The biotin-based labels use non-toxic materials and have faster detection rates than radioactive probes. Furthermore, owing to their long half-life and high stability, biotin-based probes can be prepared in bulk and stored at -20°C for repeated uses. Furthermore, there have been several advancements in biotin-based techniques, such as the addition of long tails of biotinylated nucleotides through enzymatic methods to counter the technique’s limitations. Pertaining to these advancements, the biotin-based label segment is expected to show better growth during the forecast period.
North America is Expected to Dominate the Nucleic Acid Labeling Market
The nucleic acid labeling market dominates the North America region due to the increasing prevalence of chronic diseases, such as cancer, aging population, growing demand for targeted and personalized medicine, and favorable government initiatives. In recent years, several government initiatives have been launched, which is supplementing the growth of the nucleic acid labeling market in the United States. For instance, in 2015, the Precision Medicine Initiative was introduced to revolutionize the treatment of chronic diseases, which has accelerated the growth of the nucleic acid labeling and its acceptance as well as adoption in the region.
The global players into the nucleic acid labeling market are Enzo Biochem Inc., GE Healthcare, Marker Gene Technologies Inc., Merck KGaA, New England Biolabs Inc., PerkinElmer Inc., Promega Corporation, Thermo Fisher Scientific and Vector Laboratories Inc.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support