The molecular biology enzymes, kits, and reagents market size was valued at $10.98 billion in 2020 and it is projected to reach $41.10 billion by 2028; it is expected to grow at a CAGR of 17.8% from 2021 to 2028.
/EIN News/ — New York, May 26, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Molecular Biology Enzymes, Kits, and Reagents Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (Enzymes and Kits & Reagents), Application (Epigenetics, Sequencing, Synthetic Biology, Polymerase Chain Reaction, Cloning, and Other), and End User (Biotechnological & Pharmaceutical Companies, Hospitals & Diagnostic Centers, and Academic & Research Institutes)”, the global molecular biology enzymes, kits, and reagents market growth is driven by the healthy funding for genomics, declining cost of sequencing procedures, and increasing prevalence of chronic diseases. However, the dearth of skilled professionals is hindering the market’s growth to some extent.
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|Market Size Value in||US$ 10.98 Billion in 2020|
|Market Size Value by||US$ 41.10 Billion by 2028|
|Growth rate||CAGR of 17.8% from 2021 to 2028.|
|No. of Pages||142|
|No. of Charts & Figures||87|
|Historical data available||Yes|
|Segments covered||Product, Application, and End User|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Global Molecular Biology Enzymes, Kits & Reagents Market: Competition Landscape and Key Developments
THERMO FISHER SCIENTIFIC INC, Illumina, Inc., Qiagen, Agilent Technologies, Inc., F. HOFFMANN-LA ROCHE LTD, Merck KGAA, Jena Bioscience GmbH, Bioline Technologies, Promega Corporation, and Rockland Immunochemicals Inc. are the key companies operating in the molecular biology enzymes, kits & reagents market.
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Market leaders are focusing on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities. For instance, in April 2021, Promega Corporation announced the opening of Kornberg Center, the biotech company’s newly constructed research and development facility on its Fitchburg, WI campus. The facility will support core product and technology development in life science research, cellular and molecular biology, genetic identity, clinical diagnostic and scientific applications, and training.
North America secures the key share of the global molecular biology enzymes, kits & reagents market. The rapid sequencing technologies, increasing preference for personalized medicine, increasing competition between the market player, high R&D spending to develop new sequencing products, and sophisticated infrastructure are projected to accelerate the growth of this market over the forecast period. Moreover, the rise in the development and research for genomics and the rise in the programs for genomics in the region are propelling the North America molecular biology enzymes, kits & reagents market’s expansion.
Based on product, the global molecular biology enzymes, kits & reagents market is segmented into enzymes, kits and reagents. In 2020, the kits and reagents segment held the largest share of the market. It is further expected to retain its dominance over the forecast period. Growth in this segment can be attributed to the increasing adoption of analyzing instruments for sequencing by pharmaceutical and biopharmaceutical companies in advanced economies. Moreover, kits and reagents are expected to register the highest CAGR in the market between 2021 and 2028.
Genome sequencing was restricted to the research facilities, a few years back. However, it has now became one of the common techniques in clinical practices. Over the next few years, the healthcare sector is expected to generate genomic data of over 60 million patients. The growing implementation of genomic sequencing into healthcare systems is supported by substantial government investments, totaling over US$ 4 billion in at least 14 countries.
The UK has announced the world’s largest genome project as part of 200 million public–private collaboration between charitable organizations and pharmaceutical companies. The country has already developed the world’s largest genome database through the 100,000 Genomes Project. Led by Innovate UK, a part of UK Research and Innovation, the project was initiated to support researchers and industries through funds to combine data and real-world evidence obtained from UK health services as well as to create new products and services for more efficient and early disease diagnosis.
In April 2020, MedGenome, a genetic diagnostics, research, and data company headquartered in Bengaluru, India, raised US$ 55 million (~INR 419 crore) in a new round of funding, led by LeapFrog Investments, a global impact investment firm. MedGenome also claims to have built the largest database of South Asian genetic variants in genetic diagnostics in India and research partnerships. It has conducted over 200,000 genomic tests to date by obtaining samples from more than 550 hospitals and 6,000 clinicians across India.
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Such continuous funding by the manufacturers and governments in the field of genomics is supporting the molecular biology enzymes, kits, and reagents market growth.
Molecular Biology Enzymes, Kits & Reagents Market: Segmental Overview
By product, the molecular biology enzymes, kits & reagents market is segmented into enzymes, kits & reagents. The kits & reagents segment is further bifurcated into polymerases, ligases, reverse transcriptases, phosphatases, proteases and proteinases, restriction endonuclease, and other. The consumables segment dominated the market in 2020. It is anticipated to register the highest CAGR of 18.2% in the market during the forecast period.
The molecular biology enzymes, kits & reagents market, by application, is segmented into epigenetics, sequencing, synthetic biology, polymerase chain reaction, cloning, and others. The sequencing segment held the largest market share in 2020. However, polymerase chain reaction is anticipated to register a CAGR of 18.9% in the market during the forecast period.
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End User-based Insights
Based on end user, the molecular biology enzymes, kits & reagents market is segmented into biotechnological and pharmaceutical companies, hospitals and diagnostic centers, academic and research institutes. The biotechnological and pharmaceutical companies segment held the largest share of the market in 2020 and is estimated to register the highest CAGR of 19.7% in the market during the forecast period.
Browse Adjoining Reports:
Diagnostic Specialty Enzymes Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Polymerases and Nucleases, Carbohydrases, Proteases, Oxidases, Ligases, Others); Application (Molecular Diagnostics, Clinical Chemistry, Research Studies, Others); End User (Pharamceutical and Biotechnological Companies, Hospitals and Clinical Laboratories, Diagnostic Laboratories, Research Institutes) and Geography
Epigenetics Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Product (Reagents, Kits, Enzymes, Instruments & Consumables, and Bioinformatics Tools), Technology (Histone Modification, DNA Methylation, and Others), Application (Oncology, Cardiovascular Diseases, and Others) End Users (Academic & Research Institutes, Biotechnology & Pharmaceutical Companies, and Contract Research Organization)
Human Microbiome Sequencing Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type (Traditional Sequencing Technologies, Next-Generation Sequencing, Third Generation Sequencing); End User (Research and Academic Institutions, Pharmaceutical and Biotechnology Companies, Others) and Geography
DNA Sequencing Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Consumable, Instrument, Service); Application (Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine, Forensics, Others); Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single-molecule Real-time Sequencing, Chain Termination Sequencing, Nanopore Sequencing); End User (Academic and Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, Hospitals and Clinics) and Geography
Synthetic Biology Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Products (Enzymes, Chassis Organisms, Oligonucleotides, and Xeno-Nucleic Acids), Technology (Measurement & Modeling, Cloning & Sequencing, Genome Engineering, Gene Synthesis, Nanotechnology, and Others), and Application (Medical Applications, Industrial Applications, Food and Agriculture, Environmental Applications, and Others)
Synthetic Biology Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis ByType (Gene Synthesis, Genome Engineering, Sequencing, Bioinformatics, Cloning, Site-Directed Mutagenesis, Microfluidics, Nanotechnology); Application (Medical, Industrial, Food and Agriculture, Others) and Geography
Polymerase Chain Reaction Technologies Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Technology (Real-Time PCR, Traditional PCR, Digital PCR); Products (Reagents and Kits, Instruments, Software, Services); End User (Diagnostic Centers, Hospitals, Research Institutes)
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Article originally published at https://www.einpresswire.com/article/574077331/molecular-biology-enzymes-kits-and-reagents-market-worth-41-10bn-globally-by-2028-at-17-8-cagr-lead-by-kits-reagents-segment-the-insight
originally published at Science - Reality Syndicate Viewers