May 18, 2024
DNA Extraction Kits Market

The Global DNA Extraction Kits Market is driven by increasing prevalence of chronic diseases

The global DNA extraction kits market is witnessing significant growth owing to the increasing research activities in genomics as well as growing prevalence of chronic and infectious diseases across the globe. DNA extraction kits help in isolating DNA from various biological samples such as blood, tissue, semen, hair, and buccal swabs for applications in forensics, molecular diagnostics and personalized medicine. These kits provide researchers and scientists an easy, safe and reliable way to extract and purify high-quality DNA from various samples. The global DNA extraction kits market is estimated to be valued at US$ 1,350 million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Automation in DNA extraction processes has been witnessing significant growth over the past few years. Companies are focusing on developing fully automated nucleic acid extraction platforms that offer high-throughput DNA/RNA extraction capabilities for laboratories performing large volumes of extractions every day. For instance, Thermo Fisher Scientific offers automated nucleic acid extraction instruments such as KingFisher Flex, MagMAX Express-96, and DynaMag-96 Side Skirts kits for high-throughput extraction of nucleic acids from various sample types. Similarly, QIAGEN has developed QIAsymphony, an automated sample and assay setup instrument that includes integrated centrifugation for isolation of nucleic acids from various sample types. These automated platforms provide precise extraction of nucleic acids with minimal hands-on time and reduce human errors thereby boosting workflow efficiencies in the labs.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderately low due to the capital intensive nature of DNA extraction kits production and the technical expertise required to manufacture the products according to stringent standards.

Bargaining power of buyers: The bargaining power of buyers is high in the DNA extraction kits market size as the products are fairly standardized and buyers have several options to choose from.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials used in production of DNA extraction kits such as plastic, reagents, and pipette tips are available from multiple sources globally.

Threat of new substitutes: The threat of new substitutes is low as there are no close substitutes available for DNA extraction kits which are essential for downstream applications in DNA analysis.

Competitive rivalry: The competitive rivalry is high among leading players in the DNA extraction kits market.

Key Takeaways

The global DNA extraction kits market is expected to witness high growth over the forecast period of 2022-2027. This growth can be attributed to factors like rising R&D investments in genomics and personalized medicine along with increasing prevalence of chronic and infectious diseases globally.

Regional analysis – North America is expected to hold the largest share of the global DNA extraction kits market during the forecast period. This is attributed to high cancer incidence rates and growing adoption of personalized medicine in the region. The market in Asia Pacific is likely to grow at the fastest pace due to increasing per capita healthcare spending and rising R&D investments for biomedical research.

Key players – Key players operating in the DNA extraction kits market are Thermo Fisher Scientific, Qiagen, Promega Corporation, Primerdesign, Bioneer Corporation, Bio-Rad Laboratories, Inc., Akonni Biosystems, Inc. Thermo Fisher Scientific is one of the leading players offering a wide range of manual as well as automated DNA extraction kits for diverse applications through its MagMAX range of products.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it