Nov 25, 2021, 09:07 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 09:07 /Comserve / -- DNA/RNA Extraction Kit Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The DNA/RNA extraction kit market is expected to register a CAGR of 7.26% during the forecast period of 2021-2026.
The COVID-19 pandemic impacted the DNA/RNA extraction kit market for the short time being due to restrictions on different business and research activities. Also, the diagnostics tests of other diseases and medical disorders in the hospitals and other clinical diagnostics establishments were affected due to a decrease in the turnout of the patients for tests because of COVID-19. But the high infection rate of COVID-19 and research activities by the key companies in the area of sequencing to expand their knowledge about the virus and its origin along with molecular diagnostics of the SARS-CoV-2 virus led to the development and launch of many DNA and RNA based COVID-19 kits, which proved to be very crucial and were in huge demand later. For instance, in April 2020, PHASE Scientific announced the commercial launch of the PHASIFY VIRAL RNA extraction kit for the detection of the COVID-19 virus, globally.
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The major driving factor behind the growth of the DNA/RNA extraction kit market is the increasing investments in the research and development activities in different fields including molecular diagnostics for different chronic and infectious diseases. For example, according to the Organization for Economic Co-operation and Development, in 2018, the United States spent USD 552 billion on the research and development activities followed by China with USD 463 billion. The technological advancements, launch of new products by the key market players, and rising cases of cancer around the world will also complement the growth of the studied market. For instance, June 2020, Omega Bio-tek, Inc. announced the launch of an advanced viral RNA extraction kit for the COVID-19 testing, called Mag-Bind Viral RNA Xpress kit for the efficient extraction of the Viral RNA from nasopharyngeal (NP) swab samples.
Other factors such as increased demand in the automation of DNA/RNA extraction technology, new user friendly and easy extraction kits, use of DNA/RNA in the profiling of new diseases causing microorganism will also boost the growth of the DNA/RNA extraction kit market during the forecast period. While the low awareness and availability of the kits and less market penetration in the underdeveloped and developing regions around the world are the major restraining factors for the growth of the DNA/RNA extraction kit market.
Key Market Trends
Extraction Kits for Cancer Patients for Diagnosis and Identification Will Occupy a Significant Share in the Market over the Forecast Period
In the body of a patient suffering from any kind of cancer, circulating cell-free DNA (ccfDNA) which originates from cancer cells are found in the bloodstream and thus are called circulating tumor DNA (ctDNA). A very sensitive RNA and DNA extraction kits are used to isolate and profile them and based on which treatment is performed on the patient. The companies are working towards it and developing and launching products related to the area. For instance, in May 2018, BioChain Institute Inc. launched a new cell-free DNA extraction kit called cfPure for the efficient isolation and detection of circulating cell-free DNA (ccfDNA).
According to the International Agency for Research on Cancer (IARC) data released in December 2020, about 1 in 5 people develops cancer in their lifetime, and 1 in 8 men and 1 in 11 women die from cancer, globally. As per its updated GLOBOCAN 2020 report, in 2020 there were about 19.3 million new cancer cases around the world and 10 million people died from it. So, the increasing prevalence of cancer will boost the growth of the DNA/RNA extraction kit market.
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North America is Expected to Dominate the Global DNA/RNA Extraction Kit Market during the Forecast Period
North America holds a major share of the DNA/RNA extraction kit market and is expected to show a similar trend over the forecast period mainly due to high research and development activities in the region along with the presence of key market players in the area who are continuously evolving their product offering for the studied market.
In the region, the United States is expected to occupy the major share in the DNA/RNA extraction kit market due to huge investment in research and development by the government and private entities, increasing demand for the kits, and rising prevalence of chronic diseases such as cancer. As per the GLOBOCAN 2020 report, there were 2,281,658 new cancer cases in the United States and 612,390 deaths due to it. Additionally, the new product launches and another expansion initiative of the market by the key market players in the area will also boost the growth of the DNA/RNA extraction kit market. For instance, in February 2020, Promega Corporation announces the launch of a new DNA extraction kit known as Wizard HMW DNA Extraction Kit for extracting large fragments of DNA from any biological sample.
The DNA/RNA extraction kit market will be very competitive due to the presence of different market players in all parts of the world, both local and multinational. The efficient and user-friendly kit will be in huge demand in the future and the major driving force will be new developments and innovations in the following segment. The major market players of the DNA and RNA extraction kit market are as follows: Qiagen, Thermo Fisher Scientific, Agilent Technologies, Bio-Rad Laboratories, Promega Corporation, F. Hoffmann-La Roche AG, bioMérieux SA, and several others.
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