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 Overview: -
DNA extraction kits are used for isolation and purification of DNA from various samples like blood, hair, cells and tissues. These extraction kits make use of silica columns and membranes for binding DNA, separating it from other cellular components. DNA extraction kits provide high quality and yield of DNA with minimal risk of contamination. Rapid growth in genomics research and personalized medicine is driving demand for DNA extraction kits. With advancement like Next Generation Sequencing, CRISPR, whole genome profiling and rapid diagnostic testing, there is increasing need for efficient extraction of DNA from different biological samples.
Market key trends: -
- Automated extraction: - Automated extraction systems have gained popularity as they allow high-throughput processing of multiple samples with limited manual intervention. Automated systems reduce chances of contamination and improve consistency and reproducibility. Players are focusing on developing benchtop and modular automated systems for DNA and RNA extraction.
- Direct to PCR kits: - Direct PCR or direct-to-PCR extraction kits are gaining traction as they facilitate rapid amplification of DNA directly from raw samples without need for separate DNA purification step. This helps save time and resources. Players are enhancing direct-to-PCR capabilities of their kits to suit different sample types.
Porter’s Analysis: -
- Threat of new entrants: - New entrants find it moderately difficult to enter the DNA extraction kits market due to the presence of established players and requirement of huge capital investment for R&D and product development.
- Bargaining power of buyers: - Buyers have moderate bargaining power due to the availability of alternative product options from various suppliers in the market.
- Bargaining power of suppliers: - The suppliers have low bargaining power due to the availability of substitutes and suppliers in the market. They cannot influence pricing strategies in the market.
- Threat of new substitutes: - Substitutes have low threat as extraction of DNA is a critical process that requires validated and reliable extraction kits approved by regulatory authorities.
- Competitive rivalry: - Intense competition exists among existing players to gain maximum market share through innovative product offerings and geographic expansion in new markets.
Key Takeaways: -
The Global DNA Extraction Kits Market Growth is expected to witness high, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand for molecular diagnostics and nucleic acid testing methods to detect genetic disorders.
Regional analysis: - North America is expected to dominate the global DNA extraction kits market during the forecast period. This is attributed to the increasing incidence of infectious diseases, cancer and growing adoption of personalized medicine and genomics in the region. Asia Pacific is anticipated to exhibit the highest growth rate over the next few years, with China and India being the major contributors to the market growth in the region.
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. Key players are focusing on new product launches and geographical expansion to strengthen their market position. For instance, in January 2022, QIAGEN launched QIAprep& Fast PCR Clean-Up and Gel Extraction Combo Kit for streamlined purification of DNA from PCRs and agarose gels.
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