by DNA extraction kits are used to isolate genomic DNA from a variety of specimens with high purity and yield. DNA extraction kits provide all the necessary reagents required for automated or manual purification of genomic DNA from samples of peripheral blood, buccal swabs, and tissues. The global DNA extraction kits market provides the advantage of DNA isolation from a broad range of biological sample types with high speed and convenience. The need for DNA extraction kits is rising with growing application of DNA fingerprinting in forensic science and food testing applications.
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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend in the DNA extraction kits market is the development of automated liquid handling systems and easy-to-use extraction systems. Automated liquid handling workstations provide walkaway sample preparation with increased throughput and consistency as compared to manual extraction methods. Companies are focusing on developing easy-to-use extraction kits that do not require specialized equipment or technical skills. This is expected to increase the convenience of DNA isolation and adoption of extraction kits in various applications such as forensics, ancestry testing and disease diagnostics.
Porter’s Analysis
Threat of new entrants: The DNA Extraction Kits market requires high capital investment to acquire patented technologies and manufacturing facilities. Therefore, the threat of new entrants is moderate.
Bargaining power of buyers: The buyers have moderate bargaining power as there are established key players offering substitute DNA Extraction Kits.
Bargaining power of suppliers: The suppliers have moderate bargaining power as the key raw materials required are available with multiple suppliers.
Threat of new substitutes: There exists a moderate threat of substitutes such as homemade DNA extraction techniques and alternate technologies.
Competitive rivalry: The DNA Extraction Kits market experiences high competition due to the presence of established global players.
Key Takeaways
The Global DNA Extraction Kits Market Size is expected to witness high growth. 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 6.1% over the forecast period 2023 to 2030.
North America is projected to dominate the market during the forecast period owing to increasing healthcare expenditure and technological advancements in the region. Europe is likely to grow at a significant rate during 2023-2030 due to increasing research activities and growing focus on developing novel techniques in the genomics sector.
Key players: Key players operating in the DNA Extraction Kits market are Fineheart, Berlin Heart GmbH, LivaNova PLC, Bivacor Inc., NuPulseCV, Inc., Windmill Cardiovascular Systems, CH Biomedical, Inc., Jarvik Heart, Inc., Abbott Laboratories.
