Market Trends of Global DNA/RNA Extraction Kit Industry
This section covers the major market trends shaping the DNA/RNA Extraction Kit Market according to our research experts:
Extraction Kits for Cancer Patients for Diagnosis and Identification Will Occupy a Significant Share in the Market over the Forecast Period
A patient suffering from any kind of cancer, circulating cell-free DNA (ccfDNA), which originates from cancer cells, is found in the bloodstream, known as circulating tumor DNA (ctDNA). A very sensitive RNA and DNA extraction kits are used to isolate and profile them based on which treatment is performed on the patient. The companies are working toward it and developing and launching products related to the area. For instance, in May 2018, BioChain Institute Inc. launched a new cell-free DNA extraction kit, cfPure, for the efficient isolation and detection of circulating cell-free DNA (ccfDNA).
According to the International Agency for Research on Cancer (IARC) data released in December 2020, about 1 in 5 people develops cancer in their lifetime, and 1 in 8 men and 1 in 11 women die from cancer, globally. As per its updated GLOBOCAN 2020 report, in 2020, approximately 19.3 million new cancer cases were registered, worldwide, and 10 million people died from it. Therefore, the increasing prevalence of cancer may boost the growth of the DNA/RNA extraction kit market.
North America is Expected to Dominate the Global DNA/RNA Extraction Kit Market During the Forecast Period
North America holds a major share of the DNA/RNA extraction kit market and is expected to show a similar trend over the forecast period, mainly due to high R&D activities in the region, along with the presence of key market players in the area who are continuously evolving their product offering for the market studied.
In the region, the United States is expected to occupy the major share in the DNA/RNA extraction kit market due to huge investment in R&D by the government and private entities, increasing demand for the kits, and rising prevalence of chronic diseases, such as cancer. As per the GLOBOCAN 2020 report, around 2,281,658 new cancer cases in the United States were registered, and 612,390 patients died due to it. Additionally, the new product launches and other expansion initiatives of the market by the key market players in the area may boost the growth of the DNA/RNA extraction kit market. For instance, in February 2020, Promega Corporation announced the launch of a new DNA extraction kit, known as Wizard HMW DNA Extraction Kit, for extracting large fragments of DNA from any biological sample.
