DNA extraction kits are used for performing DNA isolation from various sources including blood, tissue, bacteria, and viruses. DNA extraction kits allow purification and isolation of DNA from cell lysates and tissue homogenates to obtain highly pure DNA for downstream applications such as genotyping,sequencing, polymerase chain reaction (PCR), and forensic analysis. The global DNA extraction kits market witness increasing demand from biobanks and genomic research laboratories as these kits enable efficient and rapid extraction of DNA samples.
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 Dynamics:
The DNA extraction kits market is primarily driven by rising demand from biobanks and genomic research laboratories. As per reports, over 350 million DNA samples are stored in biobanks globally, which is indicative of increasing investments in biobanking initiatives. Moreover, increasing research activities in fields of genetics and genomics also necessitates efficient and rapid extraction of high-quality DNA. According to Our World in Data organization, global spending on health research and development increased from US$240 billion in 2015 to US$270 billion in 2018 indicating growing genomic research activity. The DNA extraction kits allow expeditious and easy to use isolation of DNA meeting needs of high-throughput genomic research and biobanking.
Rising focus on precision medicine and non-invasive prenatal testing is also fueling growth of the market. DNA-based diagnostic tests such as non-invasive prenatal testing requires isolation of fetal DNA from maternal blood sample. Technological advancement in extraction kits allowing isolation of minimum amount of DNA is supporting growth of the market. For instance, in 2021, Thermo Fisher Scientific introduced MagMAX Cellular RNA/DNA Ultra Kit enabling simultaneous purification of RNA and DNA from small samples down to 500 cells.
SWOT Analysis
Strength: Thermo Fisher Scientific is the leader in the DNA Extraction Kits market with a wide range of offerings. Their kits offer high accuracy and sensitivity for DNA extraction. QIAGEN provides automated and manual extraction kits making DNA preparation convenient.
Weakness: Some extraction kits require specialized equipment and skilled technicians for operation. Maintaining the sterile condition during manual extraction is challenging.
Opportunity: Growing application of DNA extraction in forensics, cancer screening and agricultural testing is driving the demand. Emerging economies provide scope to expand due to increasing healthcare investments.
Threats: Stringent approval policies delay market entry of new players. Technology development by competitors may make existing kits obsolete at a faster pace.
Key Takeaways
The Global DNA Extraction Kits Market Share is expected to witness high growth at a CAGR of 7.7% till 2030. North America currently dominates with over 30% market share owing to established biotech industry and focus on personalized medicine. Asia Pacific is expected to be the fastest growing region due to increasing research spending, rising disposable income and growing population.
Key players operating in the DNA Extraction Kits market are Thermo Fisher Scientific, QIAGEN, PROMEGA, F. Hoffmann-La Roche, Bio-Rad Laboratories, and Agilent Technologies, among others. Thermo Fisher Scientific leads the automated extraction kits segment while QIAGEN dominates the manual purification kits segment. The players are focusing on portfolio expansion through new product launches catering to novel applications such as microbiome analysis.
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