Dublin, Aug. 11, 2021 (GLOBE NEWSWIRE) -- The "DNA/RNA Extraction Kit Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The DNA/RNA extraction kit market is expected to register a CAGR of 7.26% during the forecast period of 2021-2026.
Diagnostics tests of other diseases and medical disorders in the hospitals and other clinical diagnostics establishments were affected due to a decrease in the turnout of the patients for tests because of COVID-19. But the high infection rate of COVID-19 and research activities by the key companies in the area of sequencing to expand their knowledge about the virus and its origin along with molecular diagnostics of the SARS-CoV-2 virus led to the development and launch of many DNA and RNA based COVID-19 kits, which proved to be very crucial and were in huge demand later.
For instance, in April 2020, PHASE Scientific announced the commercial launch of the PHASIFY VIRAL RNA extraction kit for the detection of the COVID-19 virus, globally.
The major driving factor behind the growth of the DNA/RNA extraction kit market is the increasing investments in the research and development activities in different fields including molecular diagnostics for different chronic and infectious diseases. For example, according to the Organization for Economic Co-operation and Development, in 2018, the United States spent USD 552 billion on the research and development activities followed by China with USD 463 billion.
The technological advancements, launch of new products by the key market players, and rising cases of cancer around the world will also complement the growth of the studied market. For instance, June 2020, Omega Bio-tek, Inc. announced the launch of an advanced viral RNA extraction kit for the COVID-19 testing, called Mag-Bind Viral RNA Xpress kit for the efficient extraction of the Viral RNA from nasopharyngeal (NP) swab samples.
Other factors such as increased demand in the automation of DNA/RNA extraction technology, new user friendly and easy extraction kits, use of DNA/RNA in the profiling of new diseases causing microorganism will also boost the growth of the DNA/RNA extraction kit market during the forecast period. While the low awareness and availability of the kits and less market penetration in the underdeveloped and developing regions around the world are the major restraining factors for the growth of the DNA/RNA extraction kit market.
Competitive Landscape
The DNA/RNA extraction kit market will be very competitive due to the presence of different market players in all parts of the world, both local and multinational. The efficient and user-friendly kit will be in huge demand in the future and the major driving force will be new developments and innovations in the following segment.
The major market players of the DNA and RNA extraction kit market are as follows: Qiagen, Thermo Fisher Scientific, Agilent Technologies, Bio-Rad Laboratories, Promega Corporation, F. Hoffmann-La Roche AG, bioMerieux SA, and several others.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Investments in Research and Development of Molecular Diagnostics
4.2.2 Technological Advancements
4.2.3 Increasing Prevalence of Cancer Cases
4.3 Market Restraints
4.3.1 Lack of Awareness About the Kits
4.3.2 Low Market Penetration
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Cell Free DNA
5.1.2 Sequence Specific DNA
5.1.3 Sequence Specific RNA
5.1.4 Total RNA
5.1.5 Others
5.2 By End Users
5.2.1 Hospitals
5.2.2 Diagnostics Centers
5.2.3 Research Institutions
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Qiagen
6.1.2 ThermoFisher Scientific Inc.
6.1.3 F. Hoffmann-La Roche AG
6.1.4 Agilent Technologies
6.1.5 Bio-Rad Laboratories, Inc.
6.1.6 Promega Corporation
6.1.7 Danaher Corporation (Beckman Coulter Inc.)
6.1.8 Merck & Co. Inc.
6.1.9 PerkinElmer Inc.
6.1.10 bioMerieux SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/h1zl4u
