The Global Extraction Kits Industry is on an upward trajectory, with a projected Compound Annual Growth Rate (CAGR) of 7.1% over the forecast period. A recent comprehensive study forecasts the extraction kits market to reach a valuation of US$1,293.4 million by the year 2023.
Rising advancements in diagnostic techniques and personalized treatment of medicines are the primary factors aiding the growth of 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
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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-of-care diagnostic test that 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 the Global Extraction Kits Industry Study
- DNA extraction kit products are expected to hold a 51.7% market value share by the end of 2032 and are 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 the market share in 2021 and is expected to hold a market value share of 40.1% by 2032.
- In terms of end users, 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 the rising prevalence of cancer and the need for advancements in genomic techniques, the Global Extraction Kits Industry is expected to witness an advancement over the forecast period,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Global Extraction Kits Industry 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.
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Key Market Segments Covered in Global Extraction Kits Industry Research
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)
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Global Extraction Kits Industry Key Companies Profiled:
- Bio Rad Laboratories Inc.
- Thermo Fisher Scientific
- Promega Corporation
- Agilent Technologies
- Bioneer Corporation
- PerkinElmer Inc.
- LGC Biosearch Technologies
- Qiagen
- General Biosystems
- Takara Bio Inc.
- Roche Life Science
- GeneReach Biotechnology Corporation.
- Merck Millipore
- BioFire Defense LLC
- Akonni Biosystems, Inc
- Primerdesign Ltd.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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