Extraction Kits Market Revenue Growth Predicted by 2030

The recent decline in the cost associated with genetic engineering processes in addition diagnostics and personalized medicine is expected to contribute to the growth of the extraction kits industry around the globe. Further, increases in funding for research & development, the demand for user-friendly products and the rising preference for automation are expected to aid the growth of the extraction kits industry.

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Coronavirus Outbreak Generates Major Demand for Extraction Kits

Companies around the world, engaged in the production of diagnostic equipment have announced their intentions to increase the sites and capabilities of their production facilities in a bid to send out RNA extraction kits on the back of unprecedented global demand.

The process of RNA extractions is one of the essential first steps in conducting a coronavirus detection test. Until a few days ago, public testing facilities were using two separate tests for each potential coronavirus patient. However, regulatory and research bodies such as the Center for Disease Control have changed guidelines, pushing testing centers to combine samples from the throat and nose into one test, in a bid to reduce the number of extraction kits needed, in order to test a growing number of patients.

Despite these measures, extraction kits, particularly reagents for extraction kits are facing critical shortages. With fears of coronavirus cases increasing in the coming days, clinical labs will be unable to deploy existing equipment without such essential components.

Column Kits for Cell Free Samples Developed for Faster Results

Manufacturers such as Dunn Labortechnik have worked to develop viral nucleic acid extraction kits to optimize the analysis of cell free samples including supernatants, serums, body fluids, and plasma, aimed towards diagnosis of numerous virus strains including the coronavirus and HIV.

DNA/RNA viruses can be effectively lysed with buffers of chaotropic salt, which generates superior conditions for binding nucleic acids with the glass fiber in the column. Further, such kits are also designed to wash of contaminants such as metabolites, salts, and macromolecular components, and results can be made available in a matter of minutes.

Companies Push to Make Kits Available to Order

As assay development activities for the detection of Covid-19 gets ramped up for large scale testing, labs have turned towards social media to source space extraction kits. While a number of companies are involved in the process of manufacturing RNA isolation kits, the CDC has only approved Qiagen products for RNA extractions. Consequently, Qiagen has been facing the most scrutiny in its inadequacy to deploy the required amount of products.

The company has already disclosed plans to push approximately 1.5 million tests for each month. However, with more approvals likely to be given in the near future, other companies such as Promega, MilliporeSigma, New England Biolabs, Agilent, and Zymo Research have announced that they are ready to provide larger orders of extraction kits available for coronavirus testing purposes.

Impact of Coronavirus to Sustain Market Growth for Foreseeable Future

The global coronavirus outbreak has had a massive impact on the world. Its highly contagious nature along with higher than normal morbidity, and mortality rates, has made the lack of adequate testing and extraction kits a key drawback. Even as the fight against coronavirus is expected to continue in the months ahead, the demand for extraction kits is expected to stay strong well into the future, not only for the current crisis, but also as a safeguard against outbreaks in the future. 

In-depth Analysis of the Regional Outlook: Global Extraction Kit Market

The global extraction kit market report has been classified into six key regional markets, which are subjected to deep-dive country-wise analysis based on the key market segments.

• CIS & RussiaExtraction Kit Market (France, Germany, Italy, Spain, U.K.)
• Europe Extraction Kit Market (Germany, Poland, Italy, U.K., Spain, France, Nordic Countries, BENELUX, Eastern Europe, Rest of Europe)
• North America Extraction Kit Market (U.S., Canada)
• Latin America Extraction Kit Market (Mexico, Brazil, Argentina, Peru, Chile, Rest of Latin America)
• Asia Pacific excluding Japan Extraction Kit Market (India, Greater China, ASEAN, South Korea, and Rest of APEJ)
• Japan Extraction Kit Market
• Middle East and Africa (GCC Countries, Turkey, Iran, Israel, S. Africa, and Rest of MEA)

Competition Tracking & Analysis: Global Extraction Kit Landscape

Some of the prominent players competing in the global extraction kit landscape include Bio-Rad Laboratories, Thermo Fischer Scientific Inc., Promega Corporation, Primerdesign, AkonniBiosystems, QIAGEN N.V., General Biosystems, RevoluGen, BioFire Defense, MO Bio Laboratories. 

While research indicates thatinstrumentswill remain one of the top selling extraction kit products, the high costsassociated with these productsare expected remain a key factor restricting widespread adoption of extraction kits.

On the other hand, the current coronavirus threat across the globe is a key factor that will help in sustaining demand for extraction kits in the near future.High utility in the near futurewillpush manufacturers to invest in R&D for the production ofaffordable, yet high performance extraction kit options in the market.

Key Taxonomy: Global Extraction Kit Market 

The global market for extraction kits is broadly categorized into various segments, by type of product, modality, end user and geography.

Based on the Type of Product 

• RNA Extraction Kits
• DNA Extraction Kits
• Total Nucleic Acid Extraction Kits
• Viral DNA Extraction Kits 
• Others

On the Basis of Modality

• Reagent-Based
• Column-Based
• Magnetic Bead-Based
• Others

By End User

• Hospital Laboratories
• Biopharmaceutical Companies
• Forensic Laboratories
• Diagnostic Laboratories
• Contract Research Organization
• Academic & Research Laboratories

Report Highlights

• Parent market overview covering extraction kits landscape and associated tech developments
• Key market dynamics
• Extraction kits market segmentation
• Market sizing and forecast analysis - by volume and value 
• Recent trends and issues, and challenges 
• Technology Analysis
• Value Chain Analysis
• Supply & Demand Analysis of Extraction Kits