Nucleic Acid Labeling Market Trends

Growth Drivers

• Increase in the Number of Laboratory Experiments and Research Institutes - Data from the World Bank shows that as of 2018, there were 1597 researchers engaged in research and development activities per 1,000,000 people, a significant increase from 1412 researchers per million in 2015 across the globe.  Government organizations are increasing funding for research activities and drug discovery purposes, which is resulting in the development of advanced and innovative treatments for disease diagnosis. There are few companies that offer specific reagents and kits for nucleic acid labeling specifically for research applications, which in turn is expected to enlarge the global nucleic acid labeling market size during the forecast period. 

• Growing Cases of Infectious Diseases Worldwide Among People - It was observed that in China, the reportable infectious disease cases accounted for more than 6,300,170 in 2020. 

• Rapid Growth of the Life Science Industry Including Cell and Gene Therapy - According to estimates, nearly USD 10 billion in investment was made in CGT (cell and gene therapy) in 2020 and the investment is expected to grow to USD 45 billion by the end of 2027 across the globe.
• Increasing Health Care Expenditures Worldwide to Improve Health Facilities - According to the World Bank, global healthcare expenditures totaled USD 9.83 billion in 2019, an increase of USD 9.7 billion from 2018.
• Rise in Genomic Research and Development Initiatives - For instance, by increasing the diversity of people participating in genomics research, the National Human Genome Research Institute (NHGRI) is engaged in improving understanding of human genomic variation and genomic information in general.

Challenges

• Inadequacies in the Professional and Medical Expertise - There is always advancement in any sector to improve the services provided to the people. Sometimes, it becomes difficult for people to get adopted to new equipment or technology. It is necessary to learn everything about the change to use it efficiently.  Moreover, lack of experienced or skilled professionals is estimated to hinder the growth of the market, as per the market analysis.

• High Treatment Procedure Costs 

• Complications Associated with the Techniques