Transfection Reagents and Equipment Market by Product and Geography - Forecast and Analysis 2020-2024

Transfection Reagents and Equipment Market by Product and Geography - Forecast and Analysis 2020-2024

Global Transfection Reagents and Equipment Market: About this market

Technavio’s transfection reagents and equipment market analysis considers sales from both reagents and equipment products. Our study also finds the sales of transfection reagents and equipment in Asia, Europe, North America, and ROW. In 2019, the reagents segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing commercial adoption and low prices of transfection reagents will play a significant role in the reagents segment to maintain its market position. Also, our global transfection reagents and equipment market report looks at factors such as high prevalence and incidence of cancer, improvement in healthcare infrastructure in emerging economies, and rising demand for timely disease diagnosis. However, the risk associated with the extraction of DNA and RNA, strict compliance regarding the transportation of genetically modified organisms, and intense competition among vendors may hamper the growth of the transfection reagents and equipment industry over the forecast period.

Global Transfection Reagents and Equipment Market: Overview

Rising demand for timely disease diagnosis

Early diagnosis diseases are necessary among patients with a high risk of hereditary conditions. It requires genetic tools to facilitate diagnostic tests such as next-generation sequencing and DNA microarrays. This is driving the demand for transfection reagents as they are used for conducting genetic variation testing procedures. They help in identifying risks of developing diseases such as Alzheimer’s disease, Parkinson’s disease, and cancer. Thus, the rising demand for timely disease diagnosis will lead to the expansion of the global transfection reagents and equipment market at a CAGR of over 6% during the forecast period.

Rise in clinical trials in developing nations

Transfection reagents are being increasingly used in preclinical studies as well as clinical trials to support the development of novel therapies based on the delivery of nucleic acids. Pharmaceutical companies conduct clinical trials to comply with stringent regulations and reduce their drug development costs. The rise in the number of clinical trials in developing countries can be attributed to factors such as access to a large patient pool, friendly market reforms, strong intellectual property and clinical trial infrastructure, and availability of skilled workforce. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global transfection reagents and equipment market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global transfection reagents and equipment market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading transfection reagents and equipment manufacturers, that include Agilent Technologies Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Lonza Group Ltd., MaxCyte Inc., Merck KGaA, Polyplus-transfection SA, Promega Corp., QIAGEN NV, and Thermo Fisher Scientific Inc.

Also, the transfection reagents and equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.