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(Health-NewsWire.Net, November 30, 2020 ) Molecular biology reagents are chemicals used in molecular biology reactions to optimize the workflow.
Expected Revenue Surge:
The global Molecular Biology Enzymes Technology Market is projected to reach USD 13.60 Billion by 2022 from USD 5.69 Billion in 2016, at a CAGR of 15.8% during the forecast period. Base year considered for the report is 2016. Forecast period considered for the report is 2017–2022.
Major Growth Boosters:
Growth in the molecular biology enzymes market is driven by factors such as 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.
Target Audience:
# Molecular Biology Enzymes and Kits & Reagents Manufacturers and Vendors
# Associations Related to Molecular Biology Enzymes and Kits & Reagents
# Contract Research Organizations (CROs)
# Research Institutes and Academic Centers
# Pharmaceutical and Biopharmaceutical Companies
# Business Research and Consulting Service Providers
# Venture Capitalists
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By end user, academic & research institutes to hold the largest market share in 2017
Based on end user, the Molecular Biology Enzymes Technology Market is segmented into academic & research institutes, hospitals & diagnostic centers, pharmaceutical & biotechnology companies, and other end users (contract research organizations (CROs), food & beverage companies, and forensic agencies). The academic & research institutes segment is expected to command the largest share of the molecular biology enzymes and kits & reagents market in 2017. The large share of this segment can be attributed to the increasing research activities backed by funding from government and private organizations.
By product, the kits & reagents segment to account for the largest share of the market in 2017
On the basis of product, the molecular biology enzymes market is segmented into enzymes and kits & reagents. In 2017, kits & reagents segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to the requirement of repeat purchase of these single-use products and increasing drug research in the pharmaceutical industry. The enzymes market is further subsegmented into polymerases, ligases, restriction endonucleases, reverse transcriptases, phosphatases, proteases & proteinases, and other enzymes. In 2017, the polymerases enzymes segment is expected to account for the largest share of the enzymes market.
North America to dominate the market in 2017
In 2017, North America is expected to account for the largest share of the molecular biology enzymes and kits & reagents market, followed by Europe, Asia Pacific (APAC), and the Rest of the World (Latin America and the Middle East & Africa). Factors such as increasing research funding for genomics research, rising number of pharmaceutical and biotechnology companies, favorable reimbursement scenario for molecular diagnostics, and growing prevalence of target indications are contributing to the large share of North America.
Global Leaders:
The molecular biology enzymes and kits & reagents market is well established owing to the dominance by prominent market players. In 2016, Thermo Fisher (US), Merck (Germany), and Illumina (US) held a share of 70% to 75% of the overall market.
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Some of the other players competing in Molecular Biology Enzymes Technology Market are 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).
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