North America is Dominating DNA Extraction Kit Industry

In 2021, the DNA extraction kit market was worth around USD 1,354.4 million, and it is projected to advance at an 8.5% CAGR from 2021 to 2030, hitting USD 2,818.2 million by 2030, according to P&S Intelligence. 

 

This development can be credited to the increasing research happenings along with technological improvements in forensic sciences and health care amenities, and the growing expenditure in several fields for research and development activities, including molecular diagnostics for numerous chronic and communicable illnesses.

 

The need for DNA extraction kits in NGS applications will increase at the highest compound annual growth rate, of approximately 10%, in the coming few years. Initial diagnosis of cancer and other hereditary illnesses is the biggest challenge for scientists, and therefore, numerous types of research have been steered.

In the coming few years, the DNA extraction kit industry, share for analysis and identification of cancer patients is projected to have a major portion. As per the data from the Cancer Research Institute, in December 2020, around one in five people globally will grow cancer in their lifetime.

Hence, the increasing research happenings along with technological improvements in forensic sciences and health care amenities, and the growing expenditure in several fields for research and development activities, are the major factors driving the DNA extraction kit market.

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