As per Future Market Insights, the global extraction kits market was valued at over US$ 1.15 Bn in 2021 and is expected to exhibit growth at a CAGR of 7.0% over the forecast period (2022-2032).
Rising advancements in diagnostic techniques and personalized treatment of medicines is the primary factor aiding the growth in the market. Automation in DNA/ RNA extraction techniques speeds up the process and aids error-free isolation, which is contaminant free.
The diagnosis of the disease is a key area of focus for DNA/RNA extraction. Recent studies have suggested that microbiome profiles can be used not only for early diagnosis and prognosis of disease but also for personalized treatment.
Hence, the growth in the diagnostic area and personalized treatment of diseases is expected to increase the demand for extraction kits and is likely expected to boost the demand of the market.
Key developments in personal healthcare and diagnostic analysis, as well as the ability to identify health problems early, will provide effective and personalized treatment. These sensors are combined with extraction kits and peristaltic micro-pumps are used for specialist applications in a complex environment.
For instance, the Accula SARS COV-2 test developed by Thermofischer Inc. is a rapid point on care diagnostic test which delivers accurate results within 30 minutes. In forensic sciences, DNA extraction is the most important step towards the generation of DNA profiles.
With increasing advancements, the use of lab equipment has also increased for better efficiency and accurate results. Legal authorities are focusing on forensic results to provide better analytical proof to prepare a case strong for the legal process. This has increased the use of DNA extraction kits.
Key players are focusing on advancements in technology, which will help them to produce extraction kits to yield a good amount of quality and pure molecules with less or no contamination.
These advancements in extraction kits are paving the way for increased demand for extraction kits in the market. A major challenge in research studies is maintaining an even and accurate DNA extraction in the presence of samples. These improvised kits provide practical advantages with a reduced amount of time and labor with increased throughput.
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Key Takeaways from Market Study
- DNA extraction kits products are expected to hold 51.7% market value share by the end of 2032 and is expected to showcase growth at a CAGR growth of 7.4% over the forecast period.
- Based on application, the disease diagnosis segment held around 36.8% of market share in 2021 and is expected to hold a market value share of 40.1% by 2032.
- In terms of end user, the diagnostic laboratories segment is expected to register a CAGR of 7.9% in upcoming years.
- North America is slated to be the leading region with a value share of 33.4% at the end of the forecast period.
“With rising prevalence of cancer and need for advancements in genomic techniques, the extraction kits market is expected to witness an advancement over the forecast period,” says an analyst of Future Market Insights.
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Market Competition
Collaborations, acquisitions, expansions and product launches are the key strategies adopted by manufacturers to expand their product portfolio and consumer base in emerging economies.
- In September 2021, ThermoFisher Scientific expanded the manufacturing of its Applied Biosystems MagMAX Dx Prefilled Viral/Pathogen Nucleic Acid Isolation Kits in India for the Indian market.
- In September 2021, PerkinElmer, Inc. acquired BioLegend which is a prominent worldwide provider of life science antibodies and reagents.
- In August 2021, QIAGEN N.V. launched the PreAnalytiX PAXgene Saliva Collector. It is involved in human saliva collection, stabilization, transportation, and storage through nucleic acid extraction and analyses.
- In September 2021, Roche launched three molecular PCR diagnostic test panels to detect and differentiate common respiratory pathogens from a single nasopharyngeal swab specimen.
Want more insights?
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2022 to 2032. The global extraction kits market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
By Product:
- DNA Extraction Kits
- Sequence-specific DNA
- Cell-free DNA (cfDNA)
- Tissue DNA Extraction Kits
- RNA extraction Kits
- Total RNA
- Purified RNAs
- Viral RNA
- Sequence-specific RNA
- Total nucleic acid (RNA + DNA)
By Application:
- Disease Diagnosis
- Drug Discovery
- Cancer Research
- cDNA Library
- Others
By End User:
- Hospitals
- Academic and Research Institutions
- Pharmaceutical and Biotechnology Companies
- Clinical Research Organisations
- Diagnostic Laboratories
- Forensic Labs
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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