Global DNA/RNA Extraction Kit Market is expected to grow at a CAGR of 6.8% over the Forecast Period, Owing to Rise in Demand from the field of Genetic…

The growing application of genetic engineering across wide array of fields is driving the demand for DNA/RNA extraction kits. Botany is witnessing increasing use of genetic engineering for creating modified plant species. Researchers and agricultural companies are extracting desirable DNA from organisms which is then transplanted into the plants genome. Genetic engineering is also being used to create personalized medicines or precision medicine by analyzing an individuals genetic data. General Electric, in partnership with Mayo Foundation for Medical Education and Research, launched a joint venture in 2016 to accelerate personalized therapies based on genetic engineering. DNA/RNA extraction is an integral part of the genetic engineering process for extraction and purification of DNA or RNA from the sample. Thus, the growing applications of genetic engineering is driving the growth of global DNA/RNA extraction kit market.

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The recent outbreak of COVID-19 pandemic has hit multiple countries around the world with a total tally of 31.42 million reported cases. This growing number of COVID-19 patients has inflated the demand for RNA extraction kits to perform polymerise chain reaction (PCR) testing. For instance, the Indian state of Madhya Pradesh placed a demand for for 1.16 lakh RNA extraction kits in April 2020. This rise in demand has attracted new players to enter the market. For instance, Kilpest India Ltd. got approval of the U.S. Food and Drug Administration agency for its real-time PCR test kits in June 2020 and in the same month the company received an order of 500,000 for these kits from Government of India. Thus, the rapidly spreading COVID-19 infection and emergence of new companies is anticipated to propel the growth of global DNA/RNA extraction kit market.

In terms of revenue, global DNA/RNA extraction kit market was valued at US$ 586.56 Mn in 2018 and is anticipated to grow at a CAGR of 6.8% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

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The detailed research study provides qualitative and quantitative analysis of DNA/RNA extraction kit market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

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Global DNA/RNA Extraction Kit Market:

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Global DNA/RNA Extraction Kit Market is expected to grow at a CAGR of 6.8% over the Forecast Period, Owing to Rise in Demand from the field of Genetic...