A recently compiled report by Future Market Insights provide key insights on the global molecular biology enzymes, kits and reagents market. A report from FMI has fielded several questions on forecasted expansion of the global molecular biology enzymes, kits and reagents market.
What is your take on expansion of global molecular biology enzymes, kits and reagents market?
Well, according to the report, the market is anticipated to register splendid growth during 2017-2026. The global market for molecular biology enzymes, kits and reagents is pegged to surpass US$ 21 Bn, in terms of revenues by the end of 2026.
Why do you think the market will exhibit splendid growth?
Number of technological improvements have resulted into the growth of the market as they concentrated on improving advanced products in a bid to improve their product portfolio. The improved products facilitate the research procedure with providing such improved efficiency and improved precision. For instance, SMART Digest Kit designed by Thermo Fisher Scientific, Inc., developed especially for the proteomic and biopharmaceutical applications. This kit helps create data of relatively high quality. Large investments in research and developments activities done by biology and pharmaceutical industries combined with provision of some reimbursements for molecular diagnostics is promoting adoption of molecular biology enzymes, kits & reagents.
What are the factors influencing the growth of the market?
A considerable growth in the genetic disorders’ prevalence has been seen over recent past. This is the key reason driving the people to adopt molecular diagnostics. The procedure of molecular diagnostics including epigenetics and polymerase chain reaction need molecular biology enzymes, kits and reagents in near future. Genetic data of consumers is considered more confidential as well as sharing of this information is strictly prohibited. Genome sequential helps treating and recognizing wide variety of disorders. The information of individuals can be stored as a safe place due to the lack of such tools and further are stored on the cloud database that could pose threats regarding data thefts. Additionally, absence of effective technology to store genetic information is projected to limit the growth of the market over the forecast period.
In terms of applications do you know any types of the market, which is leading in the market?
Though sequencing is anticipated to succeed as the largest application of the molecular biology enzymes, kits and reagents in terms of revenues. The synthetic biology is projected to continue as the fastest growing application segment in the market. Cloning application is likely to exhibit an impressing growth over assessment period and is likely to hold the second largest position, in terms of revenue share throughout the assessment period.
According to you, which is the largest end-user of the market?
In terms of revenues, the sales of molecular biology enzymes, kits & reagents for the utilization in biotechnology and pharmaceutical companies are projected to secure the second largest share of the market over forecast period. Research and academic institutes are estimated to showcase fastest growth in the market during the assessment period. However, this segment is likely to generate lower revenues compared to other segments. Further, on the basis of region, the North America is estimated to remain the remunerative market followed by APEJ region.
What are the leading companies operating in the market?
Typically, Thermo Fisher Scientific Inc., Merck & Co Company, Illumina, Inc., Takara Bio Inc., Roche Holdings, Inc., and Jena Bioscience GmbH are several leading players operating in the market. However, Qiagen N.V., Promega Corporation, Agilent Technologies, Inc., and KRISHGEN BioSystems have also consolidated their footprints in the global market.
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