Molecular Biology Enzymes, Kits & Reagents Market Size, Share, Growth, Forecast through 2032
According to a recent Future Market Insights report, the global Molecular Biology Enzymes, Kits & Reagents Market will grow dramatically between 2022 and 2032. By 2032, global sales of molecular biology enzymes, kits, and reagents are expected to total approximately US$ 48,476.41 million.
Technological Advancements Leading
to Enhanced Efficiency & Greater Precision of Molecular Biology Enzymes,
Kits & Reagents
The manufacturers of molecular
biology enzymes, kits, and reagents have contributed significantly to technical
breakthroughs by focusing on creating cutting-edge goods in an effort to
diversify their product offerings. The cutting-edge items support the study
procedures by providing features like increased precision and efficiency. One
of the best instances of this is Thermo Fisher Scientific, Inc.’s SMART Digest
Kit, which was created specifically for biopharmaceutical and proteomic
applications. This kit reduces the time required for sample preparation while
enabling the creation of high-quality data. The massive investments made in
research and development by the pharmaceutical and biotechnology companies,
along with the availability of numerous reimbursements for molecular
diagnostics, will further encourage the adoption of molecular biology enzymes,
kits, and reagents.
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A significant increase in the
genetic disorders’ prevalence has been witnessed since the recent past, thereby
driving adoption of molecular diagnostics. The processes of molecular
diagnostics including epigenetics and polymerase chain reaction (PCR) require
molecular biology enzymes, kits & reagents as, which form an integral part
of these processes. Mounting cases of genetic disorders in light of growing
geriatric population will significantly fuel demand for molecular biology
enzymes, kits & reagents in the near future. Genetic data of individuals is
considered highly confidential, and sharing this data is strictly prohibited.
Genome sequencing aids identifying & treating a wide variety of diseases.
However, there is lack of tools that are effective for securing the genetic
information of individuals, and the information ends up being stored in cloud
databases, which further poses threats regarding data thefts. The absence of
effective technology to store genetic information is anticipated to negatively influence
demand for molecular biology enzymes, kits & reagents.
Key Players:
- Jena Bioscience GmbH
- Takara Bio Inc.
- Roche Holdings Inc.
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Promega Corporation
- KRISHGEN BioSystems
- Agilent Technologies Inc.
- Qiagen N.V.
- and Merck & Co Company.
Key Research Findings from the
Report
- Although sequencing is expected to prevail as the
largest application of molecular biology enzymes, kits & reagents in
terms of revenues, synthetic biology is anticipated to persist as the
fastest expanding application segment in the market. Cloning application
segment will also exhibit an impressive expansion, and will account for
the second largest revenue share of the market during the forecast period.
- Academic and research institutes are expected to
register fastest expansion in the market through 2026, based on end-users.
However, revenues from this end-user segment will remain comparatively
lower than other end-user segments included in the report.
- Revenues from sales of molecular biology enzymes, kits
& reagents for use in pharmaceutical and biotechnology companies are
expected to account for the largest market share during 2017 to 2026.
- Kits & reagents will prevail as top-selling and
fast-selling product in the market. Between modifying enzymes and
restriction enzymes, the latter will exhibit a relatively faster sales
expansion whereas the former will account for a larger market revenue
share through 2026.
- North America is anticipated to remain the most remunerative
market for molecular biology enzymes, kits & reagents, followed by
Asia-Pacific excluding Japan (APEJ).
Segmentation Analysis By:
Product Type
- Kits & Reagents
- Modifying Enzymes
- Restriction Enzymes
- Other Product Types
End User
- Pharmaceutical and Biotechnology Companies
- Hospitals and Diagnostic Centers
- Academic and Research Institutes
- Other End Users
Application
- Sequencing
- Cloning
- Polymerase Chain Reaction
- Restriction Digestion
- Synthetic Biology
- Epigenetics
- Other
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