Molecular Biology Enzymes and Kits & Reagents Market by Product (Kits & Reagents, Enzymes), Application (PCR, Sequencing, Cloning, Epigenetics), End User (Academic & Research Institutes, Hospitals & Diagnostic Centers), and Region - Global Forecast to 2022
“The molecular biology enzymes and kits & reagents market projected to grow at a CAGR of 15.8%.”
The global molecular biology enzymes and kits & reagents market is projected to reach USD 13.60 billion by 2022 from USD 6.52 billion in 2017, at a CAGR of 15.8% during the forecast period. The key factors driving the growth of this market include increased research activities and R&D investments in the life science industry, rising number of genome projects, technological advancements in the life science industry, and rising incidence of infectious diseases & genetic disorders. However, limited reimbursements for genetic testing is expected to restrain the growth of this market during the forecast period.
“By application, the sequencing segment to witness the highest growth during the forecast period (2017–2022).”
Based on application, the market is segmented into polymerase chain reaction (PCR), sequencing, cloning, epigenetics, restriction digestion, synthetic biology, and other applications (mutagenesis, in vitro transcription, and molecular labeling & detection). The sequencing segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing DNA sequencing with growth in genomic research, rapid technological advancements, decreasing costs of sequencing, and growing use of whole-genome sequencing and personalized genome sequencing.
“Asia Pacific (APAC) to witness the highest growth during the forecast period (2017-2022)”
Asia Pacific is expected to witness the highest growth during 2017 to 2022. The highest growth rate of the APAC market is attributed to increasing government interest in the biomedical & biotechnology industries, the presence of bio-clusters in India and China, and growing outsourcing of clinical research activities to Asian countries.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–50%, Tier 2–30% and Tier 3–20%
• By Designation – C-level–30%, Director Level–48%, Others–22%
• By Region – North America–48%, Europe–20%, Asia Pacific–25%, RoW–7%
The key players in the global molecular biology enzymes and kits & reagents market are Thermo Fisher (US), Merck (Germany), Illumina (US), QIAGEN (Netherlands), New England Biolabs (US), Promega (US), Agilent (US), Roche (Switzerland), Takara Bio (Japan), Bio Basic (Canada), Jena Bioscience (Germany), and Molecular Biology Resources (US).
The report analyzes the molecular biology enzymes and kits & reagents market and aims at estimating market size and future growth potential of this market based on various segments such as product, application, end user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the molecular biology enzymes and kits & reagents market. The report analyzes the market based on product, application, and end user
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the molecular biology enzymes and kits & reagents market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various molecular biology enzymes and kits & reagents across regions
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the molecular biology enzymes and kits & reagents market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the molecular biology enzymes and kits & reagents market