NEWARK, Del, Aug. 16, 2024 (GLOBE NEWSWIRE) -- As per the latest analysis, the global nucleic acid extraction kit market is set to be valued at USD 2,134.40 million in 2024. Global sales of nucleic acid extraction kits will likely soar at 7.4% CAGR, totaling a valuation of USD 4,285.08 million by 2034.
Demand remains particularly high for DNA extraction kits due to their rising usage in applications like genetic testing and disease diagnostics. The target segment is anticipated to account for a value share of 49.1% in 2024.
Several factors are expected to drive growth of the nucleic acid extraction kit industry during the next ten years. These include:
- Growing prevalence of chronic diseases like diabetes and cancer globally
- Increasing investments in life science research
- Surging demand for molecular diagnostics and personalized medicine
- Rising usage of nucleic acid extraction kits in forensic science for DNA extraction
- Advancements in nucleic acid extraction products
As crime rates rise, forensic science is witnessing significant advancements. These breakthroughs are leading to an increasing reliance on laboratory equipment, including nucleic acid extraction kits, for more efficient and accurate results.
Legal authorities prioritize forensic findings to strengthen cases in the legal process, resulting in a growing use of nucleic acid extraction kits. This will play a key role in fostering market growth during the forecast period.
Forensic genetics, once initiated with blood-type antigens for suspect identification in murder cases, has now become a standard practice. The application of molecular tools for in-vitro replication of genetic material has particularly revolutionized forensic investigations.
Nucleic acid extraction kits are extensively employed for extracting human DNA from urine, especially for molecular diagnostic assays using real-time qPCR targeting genetic variations. Thus, rising demand for molecular diagnostics will positively impact nucleic acid extraction kit sales.
The global nucleic acid extraction kit market is expected to benefit from the growing need for molecular diagnostics in research and healthcare. These kits will be essential as the field of diagnosis develops further, enabling precise genetic analysis and advancing the fields of precision medicine and personalized healthcare.
Key Takeaways from the Nucleic Acid Extraction Kit Market Study
- The global market is projected to be valued at USD 4,285.08 million in 2034.
- By product, the DNA extraction kits segment is set to account for a revenue share of 49.1% in 2024.
- Based on sample type, the biological samples segment will likely hold a market share of 45.2% in 2024.
- By format, the 96-well plate segment is estimated to total USD 808.19 million in 2024.
- By application, the disease diagnosis segment is forecast to generate revenue worth USD 482.28 million in 2024.
- Demand in China is projected to grow at 13.0% CAGR between 2024 and 2034.
- India is anticipated to record a CAGR of 8.5% through 2034.
“Surging demand for molecular diagnostics and increasing research funding are expected to provide impetus for the growth of the nucleic acid extraction kit market through 2034,” Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Who is Winning?
New product launches and acquisitions are key strategies of leading manufacturers such as PerkinElmer (Revvity) and QIAGEN to stay ahead of the competition. Similarly, companies are rigorously investing in research and development to advance in nucleic acid extraction technologies.
Recent developments:
- In May 2021, PerkinElmer acquired in-vitro diagnostics company Immunodiagnostic Systems Holdings PLC.
- In November 2023, QIAGEN introduced the RNeasy PowerMax Soil Pro Kit and TissueLyser III to enhance RNA isolation and sample processing.
Leading Companies in the Nucleic Acid Extraction Kit Market:
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific Inc.
- Promega Corporation
- Agilent Technologies, Inc.
- Merck KGaA
- Bioneer Corporation
- PerkinElmer Inc.
- LGC Biosearch Technologies
- QIAGEN
- GeneBio Systems, Inc.
- Takara Bio Inc.
- F. Hoffmann-La Roche Ltd
- GeneReach Biotechnology Corp.
- Akonni Biosystems, Inc.
- Primerdesign Ltd
- ProtonDx
- GVS S.p.A.
- TRIVITRON HEALTHCARE PVT. LTD.
- Almanac Life Science India
- New England Biolabs.
Want More Insights?
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global nucleic acid extraction kit market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on product, sample type, target type, format, purpose, application, end user, and region.
Nucleic Acid Extraction Kit Market Segmentation
By Product:
- DNA Extraction Kits
- Sequence-specific DNA
- Cell-free DNA (cfDNA)
- Tissue DNA Extraction Kits
- Radial Closure Devices
- Total RNA
- Purified RNAs
- Viral RNA
- Sequence-specific RNA
- Total Nucleic Acid (RNA + DNA)
By Sample Type:
- Biological Samples
- Cell-free, or nearly cell-free
- Swab samples
- Nasal
- Throat
- Nasopharyngeal
- Buccal
- Oral
- Saliva
- Urine
- Serum
- Plasma
- Cerebrospinal fluid (CSF)
- Swab samples
- Tissue
- Organ (e.g. lung, liver, heart, etc.)
- Bone
- Cartilage
- Skin
- Tumor biopsy
- Blood
- Whole blood
- RBC (red blood cells)
- Plasma
- Serum
- Dried blood spots
- Sputum
- Stool/fecal matter
- Cells
- Paraffin embedded tissue
- Cell-free, or nearly cell-free
- Environmental samples
- Soil
- Water/wastewater
- Insect
- Plant
- Gel (e.g. agarose)
- PCR Clean-up (post-PCR amplification product extraction)
- Other sample types
By Target Type:
- Bacterial
- Viral
- Bacterial & Viral
- Fungi
- Spores
- Other Target types
By Format:
- Columns
- 96-Well Plate
- Magnetic Beads (Automatable)
- Other Format
By Purpose:
- Research Use Only (RUO)
- Clinical Use
By Application:
- Disease Diagnosis
- Drug Diagnosis
- Cancer Research
- cDNA library
- Environmental DNA (eDNA) Studies
- Food Safety Testing
- GMO Detection
- Other Applications
By End User:
- Hospitals
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Clinical Research Organizations
- Diagnostic Laboratories
- Forensic Labs
- Food Testing Laboratories
- Agricultural and Environmental Research Institutes
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
Uncover Extensive Insights with the Full Report! https://www.futuremarketinsights.com/reports/nucleic-acid-extraction-kit-market
Authored By:
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.
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