Global RNA and DNA Extraction Kit Market 2019-2023 | 7% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 22, 2019--
The global RNA and DNA extraction kit market is expected to post a CAGR of more than 7% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global RNA and DNA extraction kit market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global RNA and DNA extraction kit market is the increasing incidence of cancer. Cancer research has evolved significantly, providing an in-depth understanding of tumor genetics, which is helping researchers to develop novel therapies targeting the specific gene causing cancer. RNA extraction helps to detect circulating tumor cells (CTCs) and enable highly accurate tissue lineage-based cancer detection in blood specimens. Similarly, DNA extraction is very important in cancer genetic studies that include microsatellite analysis, mutation analysis, and comparative genomic hybridization. These applications have led to the increased adoption of RNA and DNA extraction kits for genetic analysis.
As per Technavio, the increasing adoption of personalized medicine will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global RNA and DNA extraction kit market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global RNA and DNA extraction kit market: Increasing adoption of personalized medicine
Personalized medicine has become one of the most important fields in treating various complex genetic diseases and cancers. Personalized medicine provides medicines based on an individual’s genetic makeup and other predictive data, which is specific to each patient. These medicines require the collection of DNA and RNA samples as the initial step of diagnosis. RNA extraction kits are crucial for understanding the behavior of various cells for the development of essential proteins that can combat the disease. Similarly, DNA extraction kits are mainly used in the identification of polymorphisms in genes that are associated with a disease or drug metabolism.
“Apart from the increasing adoption of personalized medicine, factors such as the high demand for cell RNA extraction in biotechnology, and the increasing number of conferences that promote various applications of RNA and DNA extraction will have a significant impact on the RNA and DNA extraction kit market during the forecast period,” says a senior research analyst at Technavio.
Global RNA and DNA extraction kit market: Segmentation analysis
This market research report segments the global RNA and DNA extraction kit market by product (DNA extraction kit, and RNA extraction kit) and geographic regions (North America, Europe, Asia, and ROW).
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the increasing demand for automated systems specifically designed for medium-to-large laboratories. Moreover, the extensive focus of pharmaceutical companies on developing various products, including hormones and vaccines, necessitates the use of RNA and DNA extraction kits.
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