DNA Extraction Kit Market Growth, Development and Demand Forecast Report, 2030

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.

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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 APAC industry is projected to experience the fastest growth, advancing at a CAGR of more than 9%. This growth can be credited to the growth in expenditure and focus in the field of research and development and technological improvements, and the surge in mechanization in DNA extraction technologies.

For example, in May 2021, Global Gene Corp. declared the funds for research and development in the genome sequencing program for the Indian subcontinent populace. Similarly, there is an exponential growth in fund-raise for research in the APAC, which fuels the industry for DNA extraction and sanitization kits.

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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.

Browse more reports:

DNA Sequencing Market - https://www.psmarketresearch.com/market-analysis/dna-sequencing-market

Metagenomic Sequencing Market - https://www.psmarketresearch.com/market-analysis/metagenomic-sequencing-market

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This release was published on openPR.