Global Molecular Biology Enzymes and Kits & Reagents Market

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Global Molecular Biology Enzymes and Kits & Reagents Market

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Global Molecular Biology Enzymes and Kits & Reagents Market

 Category : Pharmaceutical

 Published: Apr-2021
 Author: SPER Analyst

The global molecular biology enzymes and kits & reagents market size was valued at USD 1318.8 million in 2019 and projected to reach USD 4045.8 million by 2027, growing at a CAGR of 13.57% forecast period 2020-2027. It is due to the surge in demand for molecular diagnostics & sequencing products and rising R&D investments. Further, the increasing applications of molecular biology technological advancements and the use of advanced products in personalized genome sequencing and drug discovery will augment the growth of the global molecular biology enzymes and kits & reagents industry in the forecast periods. Additionally, the increasing prevalence of genetic disorders & infectious diseases and rising investment in the life science industry are expected to foster global market growth. Molecular biology enzymes and kits have promising application prospects in molecular labeling & detection, in-vitro transcription &mutagenesis and play a vital role in biomarker discovery for cancer diagnostics and tumor stratification. With the constant development of molecular diagnostics technology and the increase in people's medical consumption, expenditure will bolster global molecular biology enzymes and kits & reagents market share in the coming years. Moreover, the government's intervention for improving healthcare infrastructure and swelling investments in the R&D sector will stimulate the market share. Furthermore, the rise in omics-based research studies and the increase in demand for personalized medicine and companion diagnostics will accelerate the growth of the global molecular biology enzymes and kits & reagents industry.

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Product Overview in the Global Molecular Biology Enzymes and Kits & Reagents Market
Based on the product, the global molecular biology enzymes and kits & reagents market is segregated into kits & reagents and enzymes. The enzymes segment is further segmented into polymerases, ligases, restriction endonucleases, reverse transcriptases, phosphatases, proteases & proteinases and other enzymes.
The kits & reagents segment is estimated to witness the highest growth over the analysis timeframe. Due to the availability of reagents by key market players, high adoption of reliable & rapid detection kits, and increasing demand for reagents & kits for molecular diagnostic purposes by the research laboratories.

Application Overview in the Global Molecular Biology Enzymes and Kits & Reagents Market
Based on the application, the global molecular biology enzymes and kits & reagents market is classified into a polymerase chain reaction, sequencing, cloning, epigenetics, restriction digestion, synthetic biology, and other applications. The other applications include in vitro transcription, mutagenesis, and molecular labeling & detection. The polymerase chain reaction is expected to be the highest revenue share for molecular biology enzymes and kits & reagents during the forecast period. The segment’s growth is primarily attributed to the increasing prevalence of cancer, rising demand for advanced diagnostics techniques, and increasing adoption for the detection of the presence or absence of various pathogens in body fluids.

End-User Overview in the Global Molecular Biology Enzymes and Kits & Reagents Market
Based on the end-user, the global molecular biology enzymes and kits & reagents market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, hospitals & diagnostic centers, and other end-users. The pharmaceutical and biotechnology companies segment will dominate the global molecular biology enzymes and kits & reagents market by 2027. It is due to the increasing number of clinical trials, rising R&D activities, and high adoption of advanced molecular diagnostics technology.

Region Overview in the Global Molecular Biology Enzymes and Kits & Reagents Market
By geography, the global molecular biology enzymes and kits & reagents market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to project considerable growth over 2020-2026. It is owing to the increasing number of the pharmaceutical industry, rising R&D expenditure, and growing adoption of advanced diagnostic technology.

Global Molecular Biology Enzymes and Kits & Reagents Market: Competitive Landscape
Companies such as Thermo Fisher Scientific Inc., QIAGEN, Illumina Inc., F. Hoffmann-La Roche Ltd, Agilent Technologies Inc, Bio-Rad Laboratories Inc., New England Biolabs, Merck KGaA, Promega Corporation, Takara Bio Inc., LGC Limited, Bio Basic, Jena Bioscience, and Molecular Biology Resources are the key players in the global molecular biology enzymes and kits & reagents market.

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