Global Molecular Biology Enzymes And Kits & Reagents Market is expected to grow at a CAGR of 15.23% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Molecular Biology Enzymes And Kits & Reagents Market by Product (Enzymes, Kits & Reagents), Application (Synthetic Biology, Epigenetics, Cloning, Sequencing, PCR, Restriction Digestion, Others), End-User (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Centres, Others), Regions, and Global Forecast 2020-2027.
The global molecular biology enzymes and kits & reagents market is expected to grow from USD 7.90 billion in 2019 to USD 22.73 billion by 2027, at a CAGR of 15.23% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for molecular biology enzymes and kits & reagents and is expected to grow at the highest CAGR during the forecast period. Critical factors like favourable government initiatives to boost the biotech industry, research outsourcing to APAC countries, rising elderly population, and growing biotechnology & pharmaceutical industry are contributing to the region’s growth. The markets in Japan, China, and India are proliferating, commanding significant shares in the regional market. In, terms of global market share, North America leads in terms of revenue, thanks to factors like rising R&D activities, expanding pharmaceutical industry, favourable reimbursement scenario, and supportive government policies.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global molecular biology enzymes and kits & reagents market are Roche, Merck, New England Biolabs, Jena Bioscience, Agilent, QIAGEN, Promega, Molecular Biology Resources, Bio Basic, Illumina, Takara Bio, and Thermo Fisher, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global molecular biology enzymes and kits & reagents market.
For example, UgenTec NV, a Belgian bioinformatics company, raised about USD 2.3 million from numerous investors in November 2016, to improve the PCR for data gathering, analysis and processing.
On the basis of product, the market has been segmented into enzymes and kits & reagents. The kits & reagents segment is expected to dominate the market with the highest growth rate as well as the majority market share. This is due to factors such as increasing drug research, low manufacturing cost, the need to repurchase these single-use drugs, and being readily available at all times. On the basis of application, the market has been segmented into synthetic biology, epigenetics, cloning, sequencing, PCR, restriction digestion, and others. The PCR segment held the majority market share because of the growing demand for molecular diagnosis & identification of different diseases. The sequencing segment is anticipated to register the highest growth among others over the forecast period. This is primarily due to the high implementation and the low cost of sequencing sequencing-based medical treatment. On the basis of end-user, the market has been segmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & diagnostic centres, and others. The academic & research institutes segment is forecasted to hold the majority share over the projected period mainly due to increased funding from government and private organizations for research.
About the report:
The global molecular biology enzymes and kits & reagents market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire