North America has the Largest Share in the DNA Extraction Kit Industry

The global DNA extraction kit market is projected to be USD 2,818.2 million by 2030 growing at a CAGR of 8.5% during the forecast period.

This growth can be ascribed to the surging research happenings along with technical improvements in forensic sciences and health care facilities, and the rising investment in several fields for R&D activities, including molecular diagnostics for numerous chronic and communicable illnesses.

DNA extraction kit demand for NGS applications is projected to surge with a compound annual growth rate of around 10% in the upcoming years. Scientists are faced with a major hurdle in initially diagnosing conditions like cancer and hereditary diseases, leading to a variety of research endeavors. To address hereditary disorders, next-generation sequencing is heavily employed, significantly improving the precision and consistency of genetic diagnosis. Advanced genetic diagnostic techniques are being applied to prenatal analysis and predictive genetic testing as well.

Because of the huge count of R&D activities also the existence of key market players who are continuously appraising their product offerings for the study, the North American industry held the largest DNA extraction kit market share and is also projected to continue with the dominance in the future as well.

In the region, the U.S. is the largest industry for DNA extraction kits, because of the substantial funds by government and private sectors in research and development, the amplified need for kits, and the increase in the occurrence of chronic diseases like cancer, in the nation.

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 2022, 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.

In the coming few years, the DNA extraction kit industry, shared 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 have 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.