DNA extraction kits are used for extracting and isolating DNA from various biological samples like blood, tissues, cell lines, and others. DNA extraction kits eliminate unwanted cellular and other contaminants while isolating pure DNA, which is essential for various downstream applications in genetic research, forensic sciences, genetic testing and others. The global DNA Extraction Kits Market is estimated to be valued at US$ 1604.41 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing investment in genetic research and development activities is one of the major factors fueling the growth of DNA extraction kits market. According to the report by Coherent Market Insights, the global genetic testing market was valued at US$ 8.9 billion in 2021 and is projected to reach US$ 25.1 billion by 2030, growing at a CAGR of 12% during the forecast period. R&D funding for genetics is being poured in by both private as well as government organizations to better understand genetic disorders and develop personalized treatment options. DNA extraction is a crucial initial step in various genetic researches, thus rising focus on genetics is subsequently creating high demand for DNA extraction kits across research institutes.
SWOT Analysis
Strength: DNA extraction kits offers standardized and automated procedures for extracting DNA from various biological samples which ensures accurate and reliable results.
Weakness: Improper storage of consumables and reagents during transportation may compromise the integrity and performance of DNA extraction kits.
Opportunity: Rising research activities in fields of genetics, genomics and forensics are driving the demand for high quality DNA samples which is fueling the growth of DNA extraction kits market.
Threats: Stringent regulatory requirements pertaining to the quality of consumables used in DNA extraction procedures poses manufacturing challenges for kits manufacturers.
Key Takeaways
The Global DNA Extraction Kits Market Share is expected to witness high growth. Regional analysis comprises Regional analysis related content
The North America region currently dominates the DNA extraction kits market and is expected to remain the highest revenue generating region during the forecast period. Increased adoption of personalized medicine along with ongoing clinical trials and research activities in the region will support the regional market growth.
Key players operating in the DNA extraction kits market are Thermo Fisher Scientific, QIAGEN, PROMEGA, F. Hoffmann-La Roche, Bio-Rad Laboratories, Agilent Technologies, among others. Thermo Fisher Scientific is one of the leading player offering wide range of automated and manual DNA extraction kits that are routinely used in research laboratories, biopharmaceutical companies and clinical diagnostic settings worldwide. QIAGEN provides sample & assay technologies that is used by academics, researchers and clinicians for life science research and molecular diagnostics.
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