The global DNA/RNA extraction market is set for impressive expansion, as highlighted in the latest report by Future Market Insights. In 2022, the market achieved a valuation of USD 1.3 billion, and within a year, it surged to USD 1.40 billion in 2023. With a projected Compound Annual Growth Rate (CAGR) of 7.4% from 2023 to 2033, the market is expected to surpass expectations, reaching a value exceeding USD 2.85 billion by 2033.
The growth trajectory of the DNA/RNA extraction market is deeply intertwined with its critical role in the healthcare sector. Globally, the adoption of DNA/RNA extraction techniques has significantly contributed to the market’s robust expansion. These techniques have become essential in various healthcare applications, driving notable advancements in diagnosis, treatment, and research initiatives.
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DNA/RNA extraction methods are now indispensable tools in modern medicine, facilitating the analysis of genetic material for accurate disease diagnosis, personalized treatment plans, and groundbreaking research. The widespread implementation of these techniques has revolutionized the healthcare landscape, leading to improved patient outcomes and more effective therapeutic interventions.
Several factors contribute to the market’s dynamic growth. The increasing prevalence of genetic disorders, coupled with a rising demand for personalized medicine, has propelled the need for efficient DNA/RNA extraction techniques. Additionally, the ongoing advancements in molecular biology and biotechnology have further amplified the market’s expansion, offering innovative solutions for complex medical challenges.
With a promising CAGR of 7.4%, the DNA/RNA extraction market is on a path to substantial growth over the next decade. The continuous evolution of extraction technologies, alongside growing investments in research and development, will likely drive further market expansion. As the healthcare sector increasingly relies on genetic analysis for precision medicine, the demand for advanced DNA/RNA extraction techniques is set to rise, unlocking new opportunities for industry stakeholders.
The latest report by Future Market Insights underscores the remarkable growth potential of the global DNA/RNA extraction market. As the market continues to evolve, its pivotal role in healthcare applications will remain a driving force behind its expansion. With an anticipated market value exceeding USD 2.85 billion by 2033, the future of DNA/RNA extraction techniques looks promising, heralding a new era of innovation and advancement in the healthcare industry.
Key Highlights:
- The DNA/RNA extraction market exhibited substantial growth, with a remarkable increase from USD 1.3 billion in 2022 to USD 1.40 billion in 2023.
- The market is expected to expand at a compelling CAGR of 7.4% between 2023 and 2033, showcasing a sustained trajectory of growth.
- 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.
- The widespread adoption of DNA/RNA extraction techniques globally has been a key driver, indicating the industry’s importance on a global scale.
- Projections indicate that the DNA/RNA extraction market is set to soar, reaching a value exceeding USD 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.
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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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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