DNA EXTRACTION KITS MARKET ANALYSIS

DNA Extraction Kits Market Size and Trends

The DNA extraction kits market is estimated to be valued at USD 1,622.1 Mn in 2024 and is expected to reach USD 2,792.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

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The DNA extraction kits market is expected to witness positive growth over the forecast period. DNA extraction kits are essential for researchers performing clinical and forensic analyses that require the isolation of nucleic acids. The rising focus on personalized medicine and precision diagnostics will drive the demand for DNA extraction kits over the coming years. The DNA extraction kits market is expected to witness significant growth over the forecast period. This can be attributed to factors such as increasing application of genomic & proteomic studies, rising number of legal cases requiring DNA extraction, and growing demand for the customizable DNA extraction platform. Additionally, growing investments by governments and private organizations to promote genomics R&D is also fueling the market growth. However, high costs associated with DNA extraction procedures and the requirement of skilled professionals may hamper the market expansion.

Increasing Research and Development Activities in Genomics

Advancements in the field of genomics over the past century, have led to substantial reductions in the cost of genome sequencing and increase in spending on R&D activities. Biobanks help to know how genetic elements are associated with disorder consequences. For instance, in September 2022, Sun Yat-sen University, China, a national public research university, initiated a clinical trial titled ‘Application of FIT-DNA Detection in Following Colorectal Cancer Resection-Implications for Surveillance.’ The study is estimated to get competed by January 31, 2027. Moreover, in October 2020, Rigshospitalet, a multispecialty hospital, initiated a clinical trial titled ‘Clinical Utility of Circulating Tumor DNA in Gastro-Esophageal Cancer.’ The study is estimated to get completed by July 2025.

About 80% of rare diseases are genetic in origin. Therefore, genome sequencing-based diagnosis offers a promising alternative for rare-disease management. The number of rare diseases is around 7,000, and most of them are usually chronically debilitating or even life-threatening. Genomics is driving a fundamental shift in rare disease diagnosis, from symptom analysis to molecular etiology assessment, and hence will drive the demand for DNA extraction kits. Increase in the prevalence of genetic disorders is expected to drive the growth of the global DNA extraction kits market over the forecast period. For instance, according to data published on February 27, 2023, by the World Health Organization, it was estimated that 240,000 newborns die worldwide within 28 days of birth every year due to genetic disorders. Genetic disorders further results in 170,000 deaths globally of children between the ages of 1 month and 5 years every year.