The global DNA/RNA extraction industry is poised for remarkable growth, according to the latest report by Future Market Insights. In 2022, the market reached a value of US$ 1.3 billion, and within just one year, it surged to US$ 1.40 billion in 2023. With an anticipated Compound Annual Growth Rate (CAGR) of 7.4% between 2023 and 2033, the DNA/RNA extraction market is set to surpass expectations, reaching a value exceeding US$ 2.85 billion by 2033.
The evolution of this market is intricately linked to its pivotal role in the healthcare sector. The global adoption of DNA/RNA extraction techniques has played a significant role in propelling the market’s burgeoning growth. These techniques have become instrumental in various healthcare applications, driving advancements in diagnosis, treatment, and research initiatives.
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Key Highlights:
- Exponential Growth: The DNA/RNA extraction market exhibited substantial growth, with a remarkable increase from US$ 1.3 billion in 2022 to US$ 1.40 billion in 2023.
- Anticipated CAGR: The market is expected to expand at a compelling CAGR of 7.4% between 2023 and 2033, showcasing a sustained trajectory of growth.
- Healthcare Sector Impact: The market’s evolution is attributed to its crucial role in the healthcare sector, where DNA/RNA extraction techniques are contributing significantly to advancements in diagnosis, treatment, and research.
- Global Adoption: The widespread adoption of DNA/RNA extraction techniques globally has been a key driver, indicating the industry’s importance on a global scale.
- Future Projections: Projections indicate that the DNA/RNA extraction market is set to soar, reaching a value exceeding US$ 2.85 billion by 2033, reflecting the industry’s promising future.
As a leading player in the DNA/RNA extraction industry space, Future Market Insights remains at the forefront of these advancements, consistently providing cutting-edge solutions and technologies. Our commitment to innovation and excellence aligns seamlessly with the dynamic landscape of the DNA/RNA extraction industry growth.
Key Factors Driving the Growth of the DNA/RNA Extraction Market:
- Increasing demand for molecular diagnostics: Molecular diagnostics are used to diagnose diseases, identify pathogens, and monitor disease progression. DNA/RNA extraction is a crucial step in most molecular diagnostic tests.
- Growing use of DNA sequencing: DNA sequencing is used to determine the order of nucleotides in a DNA molecule. It is used in a variety of research and clinical applications, including cancer genomics, infectious disease surveillance, and personalized medicine.
- Rising investments in gene cloning: Gene cloning is a technique used to produce multiple copies of a gene. It is used in research and development to study gene function and produce proteins for therapeutic purposes.
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Key Takeaways:
- The DNA/RNA extraction industry is expected to grow at a significant CAGR over the next decade, driven by the increasing demand for molecular diagnostics, DNA sequencing, and gene cloning.
- The high cost of DNA/RNA extraction kits, the need for skilled personnel, and the risk of contamination are some of the key challenges facing the market.
- The development of automated DNA/RNA extraction systems, the growing demand for point-of-care DNA/RNA extraction, and the increasing use of non-invasive DNA/RNA extraction methods are some of the key trends in the market.
Some of the prominent players in the global market are-
- Qiagen
- ThermoFisher Scientific Inc.
- F Hoffmann-La Roche AG
- Agilent Technologies
- Bio-Rad Laboratories Inc.
- Promega Corporation
- Danaher Corporation (Beckman Coulter Inc.)
- Merck & Co. Inc.
- PerkinElmer Inc.
- bioMérieux SA
Some of the important developments of the key players in the market are:
- In June 2023, Merck, known as MSD outside of the United States and Canada, had announced the completion of the Prometheus Biosciences, Inc. (“Prometheus”) acquisition where Prometheus is now a wholly-owned subsidiary of Merck and the common stock of Prometheus will no longer be listed or traded on the Nasdaq Global Market.
- In June 2023, Merck, known as MSD outside of the United States and Canada, announced that the Phase 3 KEYNOTE-811 trial investigating KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with trastuzumab and chemotherapy has met one of its dual primary endpoints of progression-free survival (PFS) for the first-line treatment of human epidermal growth factor receptor 2 (HER2)-positive advanced gastric or gastroesophageal junction (GEJ) adenocarcinoma.
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Key Segments Profiled in the DNA/RNA Extraction Industry Survey:
Product Type:
- Instruments
- Kits & Reagents
- Genomic DNA Isolation & Purification Kits
- Plasmid DNA Isolation & Purification Kits
- Viral DNA Isolation & Purification Kits
- Total RNA Isolation & Purification Kits
- miRNA Isolation & Purification Kits
- mRNA Isolation & Purification Kits
- Total Nucleic Acid (RNA + DNA) Isolation & Purification Kits
- Sequence-specific RNA Isolation & Purification Kits
- Viral RNA Isolation & Purification Kits
- Others
Method:
- Reagent-based
- Column-based
- Magnetic Bead-based
- Other
Application:
- Oncology
- Precision Medicine
- Health & Diagnostics
- Drug Discovery & Development
- Agriculture
- Animal Research
- Other Applications
End User:
- Hospital Laboratories
- Academic & Research Laboratories
- Diagnostic Laboratories
- Biopharmaceutical Companies
- Forensic Laboratories
- Contract Research Organizations
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East & Africa
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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