As per Future Market Insights, the global extraction kits market was valued at over US$ 1.15 Bn in 2021 and is expected to exhibit growth at a CAGR of 7.0% over the forecast period (2022-2032).
Rising advancements in diagnostic techniques and personalized treatment of medicines is the primary factor aiding the growth in the market. Automation in DNA/ RNA extraction techniques speeds up the process and aids error-free isolation, which is contaminant free.
The diagnosis of the disease is a key area of focus for DNA/RNA extraction. Recent studies have suggested that microbiome profiles can be used not only for early diagnosis and prognosis of disease but also for personalized treatment.
Hence, the growth in the diagnostic area and personalized treatment of diseases is expected to increase the demand for extraction kits and is likely expected to boost the demand of the market.
Key developments in personal healthcare and diagnostic analysis, as well as the ability to identify health problems early, will provide effective and personalized treatment. These sensors are combined with extraction kits and peristaltic micro-pumps are used for specialist applications in a complex environment.
For instance, the Accula SARS COV-2 test developed by Thermofischer Inc. is a rapid point on care diagnostic test which delivers accurate results within 30 minutes. In forensic sciences, DNA extraction is the most important step towards the generation of DNA profiles.
With increasing advancements, the use of lab equipment has also increased for better efficiency and accurate results. Legal authorities are focusing on forensic results to provide better analytical proof to prepare a case strong for the legal process. This has increased the use of DNA extraction kits.
Key players are focusing on advancements in technology, which will help them to produce extraction kits to yield a good amount of quality and pure molecules with less or no contamination.
These advancements in extraction kits are paving the way for increased demand for extraction kits in the market. A major challenge in research studies is maintaining an even and accurate DNA extraction in the presence of samples. These improvised kits provide practical advantages with a reduced amount of time and labor with increased throughput.
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Key Takeaways from Market Study
“With rising prevalence of cancer and need for advancements in genomic techniques, the extraction kits market is expected to witness an advancement over the forecast period,” says an analyst of Future Market Insights.
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Market Competition
Collaborations, acquisitions, expansions and product launches are the key strategies adopted by manufacturers to expand their product portfolio and consumer base in emerging economies.
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