DNA Extraction Kit Market To Generate $2,818.2 Million Revenue by 2030
- Published: July 2022
The DNA extraction kit market is expected to advance at a CAGR of 8.5% during 2021–2030, to reach $2,818.2 million by 2030. This is ascribed to the rise in research efforts and developments in forensic science and healthcare infrastructure.
The increase in R&D spending in a variety of domains, including molecular diagnostics for various infectious and chronic illnesses, is one of the key factors driving the market expansion. The market is trending toward user-friendly, precise extraction kits, and automated DNA extraction technologies. Additionally, the use of DNA in diagnostic and investigational purposes for chronic diseases and the implementation of next-generation sequencing are also predicted to accelerate the market growth during the forecast period.
Due to regulations and research efforts, the COVID-19 pandemic temporarily had a negative influence on the DNA extraction kit business. However, primary firms engaged in sequencing research to understand the virus and its origin as well as molecular diagnostics of the SARS-CoV-2 virus led to the development of a large number of nucleic acid extraction-based COVID-19 kits, which are in high demand.
Healthcare Facilities Are the Largest End Users in the Market
Healthcare facilities, forensic centers, research institutes, and pharma & biotech companies are key end users in the market that play a major role in the high demand for DNA extraction kits. Among these, the healthcare facilities held the biggest market share, of over 50%, in 2021. This is due to the growing research efforts and the surging usage of nucleic acid tests in molecular diagnostics.
North America Leads DNA Extraction Kit Market
The North American market accounts for the largest share, and it is predicted to continue exhibiting a similar trend over the forecast period. This is due to a large number of research and development activities in genomic DNA extraction and as well as the presence of major market players who are constantly updating their product offerings for the research sector.
Moreover, the U.S. occupies a larger part of the regional market for DNA extraction kits because of the substantial government and private sectors’ investment in research and development, and an increase in the prevalence of chronic diseases like cancer.
Due to a large number of beneficial features, DNA extraction kits are widely used for PCR, genome sequencing, cloning, and other processes that employ the use of DNA extraction. Moreover, technological developments in DNA extraction kits enable users to separate the genomic DNA using optimal methods from a variety of sources. This makes it possible for the users to extract high-quality DNA from even niche sources.
The current market for DNA extraction kits is majorly dominated by QIAGEN NV, Beckman Coulter Inc., F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Omega Bio-tek Inc., Agilent Technologies Inc., Promega Corporation, Merck KGaA, and Takara Bio Inc.