The RNA and DNA extraction kit market size has the potential to grow by USD 731.27 million during 2020-2024, and the market’s growth momentum will decelerate during the forecast period. The increasing incidence of cancer and increasing adoption of personalized medicine are few of the critical RNA and DNA extraction kit market drivers and trends fueling the growth of the market.
This report provides a detailed analysis of the market by product (DNA extraction and RNA extraction) and geography (Asia, Europe, North America, and ROW).
An in-depth scenario-based approach was followed in this RNA and DNA extraction kit market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the impact of COVID-19 on RNA and DNA extraction kit market segments.
What will the RNA and DNA Extraction Kit Market Size be in 2020?
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What are the Key RNA and DNA Extraction Kit Market Drivers and Trends?
The increasing incidences of cancer will be a significant factor boosting the demand for RNA and DNA extraction kits, fueling market growth at a CAGR of almost 9% during the forecast period. There is a growing incidence of cancer across the globe. The in-depth understanding of tumor genetics provided by advanced technologies in cancer research has enabled the development of novel therapies to combat cancer-causing genes. The purity, quantity, and quality of extracted RNA play a significant role in the success of RNA analysis and investigation and subsequent function of particular gene expression. RNA extraction also helps in detecting circulating tumor cells (CTCs) and non-invasive monitoring of advanced cancers. DNA extraction also plays a significant role in cancer genetic studies including mutation analysis, microsatellite analysis, and comparative genomic hybridization.
The emergence and advances in personalized medicine is one of the key RNA and DNA extraction kit market trends. The trend has helped healthcare professionals develop accurate molecular targeted therapy based on an individual's genetic makeup and predictive data specific to patients. The development of personalized medicine requires genome mapping studies of differentiated cells, which can be carried out with the help of DNA and RNA extraction kits. DNA extraction kits are used to identify gene polymorphisms related to disease or drug metabolism whereas RNA extraction kits are used to analyze RNA synthesis in differentiated cells. With the increasing adoption of personalized medicine, the demand for RNA and DNA extraction kits will also increase.
Which is the Largest Market Segment Contributing to the RNA and DNA Extraction Kit Market Growth?
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DNA extraction is the largest product segment in the DNA and RNA extraction kit market. This is owing to the applications of DNA extraction kits in genetic engineering of plants and animals, pharmaceutical manufacturing, and medical condition diagnosis. Request for a FREE SAMPLE to get an accurate prediction of the contribution of all the segments to the growth of the RNA and DNA extraction kit market size.
Which are the Key Markets for RNA and DNA Extraction Kit?
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North America was the largest RNA and DNA extraction kit market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing demand for automated systems and the rising need for DNA and RNA extraction kits for medical diagnosis will significantly drive RNA and DNA extraction kit market growth in this region over the forecast period.
Who are the Major RNA and DNA Extraction Kit Vendors?
The RNA and DNA extraction kit market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
- Agilent Technologies Inc.
- Beckman Coulter Inc.
- bioMérieux SA
- Bio-Rad Laboratories Inc.
- Cytiva
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- PerkinElmer Inc.
- Promega Corp.
- Thermo Fisher Scientific Inc.
The market is concentrated, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Key Highlights of the RNA and DNA Extraction Kit Market Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive RNA and DNA extraction kit market growth during the next five years
- Precise estimation of the DNA and RNA extraction kit market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the RNA and DNA extraction kit industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of RNA and DNA extraction kit market vendors
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