The global extraction kits market is set for substantial growth, with an expected compound annual growth rate (CAGR) of 7.1% during the forecast period. The market size is estimated to reach a remarkable valuation of USD 1,293.4 million by the end of 2023.
Extraction kits, crucial tools used in various applications including DNA, RNA, and protein extraction, are witnessing heightened demand across multiple sectors, including healthcare, pharmaceuticals, and research institutions. Among these, DNA extraction kits have emerged as a significant segment, commanding an impressive share of 49.88% of the market in 2022.
This growth is driven by the increasing prevalence of genetic testing and diagnostics, rising investments in biotechnology research, and the expanding applications of extraction kits in forensic science, agriculture, and food safety testing. The need for efficient and reliable extraction processes is becoming increasingly important as researchers and clinicians seek to streamline workflows and enhance the accuracy of their results.
As advancements in extraction technologies continue to evolve, manufacturers are focusing on developing innovative products that offer improved efficiency, higher yield, and user-friendly features. These innovations are anticipated to further drive market expansion and meet the growing demands of various end-users.
A recent study highlights that DNA extraction kits are a major driver of this growth, holding a notable 49.88% share of the global market in 2022. The dominance of DNA extraction kits underscores their critical role in various applications, including medical research, diagnostics, and biotechnology.
Moreover, an upsurge in the number of research and development activities that focus on developing the fastest vaccines to combat various infectious diseases will further prompt growth in the target market. In addition to this, several other initiatives like the EMBO, and Young Investigator Program assists with the establishment of laboratories by life scientists. All similar research initiatives will support the leading market players to develop their businesses in emerging economies, attract lucrative opportunities, and invite overall target market growth during the forecast period.
“Increasing funding in life sciences and investment for molecular diagnostics will generate growth opportunities for the global extraction kits market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Dearth of expert personnel and strict regulatory measures may stymie the market growth.
- The U.S’s extraction kits market is predicted to present notable growth during 2022-2032.
- The extraction kits market in Germany will register a CAGR of 8.3% during the forecast period.
- China’s extraction kits market will grow at a CAGR of 9.7% during 2022-2032.
- The DNA extraction kits segment accounted for 49.7% of the market share and will grow at 7.4% CAGR during the assessment period.
- On the basis of application, the disease diagnosis segment will account for 36.0% revenue share.
Competitive Landscape in the Global Extraction Kits Industry
- Bio Rad Laboratories Inc.
- Thermo Fisher Scientific
- Promega Corporation
- Agilent Technologies
- Bioneer Corporation
- PerkinElmer Inc.
- LGC Biosearch Technologies
- Qiagen
- General Biosystems
- Takara Bio Inc.
- Roche Life Science
- GeneReach Biotechnology Corporation.
- Merck Millipore
- BioFire Defense LLC
- Akonni Biosystems, Inc
- Primerdesign Ltd.
Key market participants are concentrating on increasing their sales in emerging economies. These enterprises are keen on new product releases and strategic collaboration to improve their revenue.
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Key Market Segments Covered in Global Extraction Kits Industry Research
By Product:
- DNA Extraction Kits
- Sequence-specific DNA
- Cell-free DNA (cfDNA)
- Tissue DNA Extraction Kits
- RNA extraction Kits
- Total RNA
- Purified RNAs
- Viral RNA
- Sequence-specific RNA
- Total nucleic acid (RNA + DNA)
By Application:
- Disease Diagnosis
- Drug Discovery
- Cancer Research
- cDNA Library
- Others
By End User:
- Hospitals
- Academic and Research Institutions
- Pharmaceutical and Biotechnology Companies
- Clinical Research Organisations
- Diagnostic Laboratories
- Forensic Labs
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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