Growth of DNA Extraction Kits Market
The global DNA Extraction Kits Market is estimated to be valued at US$ 1604.41 Mn or Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis: -
· Strengths: -
- Growing application of DNA extraction in various fields like forensics, agriculture, biomedicine etc. drives the market growth.
- Innovation and customization of extraction kits for niche applications ensures sustained demand.
· Weaknesses: -
- High cost of advanced DNA extraction kits limits their adoption in low resource settings.
- Manual DNA extraction methods require skilled labor and are time-consuming.
· Opportunities: -
- Untapped emerging markets like Asia Pacific offer lucrative opportunities for market players.
- Development of automated DNA extraction systems can boost efficiency and scalability.
· Threats: -
- Stringent regulatory framework delays product approval and launch.
- Established life science tools and diagnostic companies pose pricing challenges.
Key Takeaways: -
The Global DNA Extraction Kits Market Size is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing application of DNA extraction in forensic investigations and next-generation sequencing. By 2023, the market size is expected to reach US$ 1,604.41 Mn.
Regional analysis: - Asia Pacific is expected to witness fastest growth in the DNA extraction kits market owing to growing biomedical and biotechnology industries, increasing healthcare expenditure, and technological advancements in the region. China and India are expected to be the major revenue generators in Asia Pacific due to their large population and rising biotechnology research activities.
Key players operating in the DNA extraction kits market are Thermo Fisher Scientific, QIAGEN, PROMEGA, F. Hoffmann-La Roche, Bio-Rad Laboratories, Agilent Technologies, among others. Thermos Fisher Scientific offers a wide range of sample and DNA extraction kits for manual and automated nucleic acid extraction workflows from diverse samples. QIAGEN also provides both spin column- and magnetic bead-based extraction kits for high-quality DNA extraction.
Read More - https://www.zupyak.com/p/3923270/t/rapid-advances-in-genetic-research-driving-demand-for-dna-extraction-kits
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