The recent study from Future Market Insights provides forecasts for the global market for molecular biology enzymes, kits, and reagents from 2017 to 2026. According to the analysis, the industry would experience fantastic growth through 2026. By the end of 2026, sales of molecular biology enzymes, kits, and reagents are expected to generate more than US$ 21,000 Mn in revenue.
Technological Advancements Leading to Enhanced Efficiency & Greater Precision of Molecular Biology Enzymes, Kits & Reagents
The manufacturers of molecular biology enzymes, kits, and reagents have contributed significantly to technical breakthroughs by focusing on creating cutting-edge goods in an effort to diversify their product offerings. The cutting-edge items support the study procedures by providing features like increased precision and efficiency. One of the best instances of this is Thermo Fisher Scientific, Inc.’s SMART Digest Kit, which was created specifically for biopharmaceutical and proteomic applications. This kit reduces the time required for sample preparation while enabling the creation of high-quality data. The massive investments made in research and development by the pharmaceutical and biotechnology companies, along with the availability of numerous reimbursements for molecular diagnostics, will further encourage the adoption of molecular biology enzymes, kits, and reagents.
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A significant increase in the genetic disorders’ prevalence has been witnessed since the recent past, thereby driving adoption of molecular diagnostics. The processes of molecular diagnostics including epigenetics and polymerase chain reaction (PCR) require molecular biology enzymes, kits & reagents as, which form an integral part of these processes. Mounting cases of genetic disorders in light of growing geriatric population will significantly fuel demand for molecular biology enzymes, kits & reagents in the near future. Genetic data of individuals is considered highly confidential, and sharing this data is strictly prohibited. Genome sequencing aids identifying & treating a wide variety of diseases. However, there is lack of tools that are effective for securing the genetic information of individuals, and the information ends up being stored in cloud databases, which further poses threats regarding data thefts. The absence of effective technology to store genetic information is anticipated to negatively influence demand for molecular biology enzymes, kits & reagents.
- Jena Bioscience GmbH
- Takara Bio Inc.
- Roche Holdings Inc.
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Promega Corporation
- KRISHGEN BioSystems
- Agilent Technologies Inc.
- Qiagen N.V.
- and Merck & Co Company.
Key Research Findings from the Report
- Although sequencing is expected to prevail as the largest application of molecular biology enzymes, kits & reagents in terms of revenues, synthetic biology is anticipated to persist as the fastest expanding application segment in the market. Cloning application segment will also exhibit an impressive expansion, and will account for the second largest revenue share of the market during the forecast period.
- Academic and research institutes are expected to register fastest expansion in the market through 2026, based on end-users. However, revenues from this end-user segment will remain comparatively lower than other end-user segments included in the report.
- Revenues from sales of molecular biology enzymes, kits & reagents for use in pharmaceutical and biotechnology companies are expected to account for the largest market share during 2017 to 2026.
- Kits & reagents will prevail as top-selling and fast-selling product in the market. Between modifying enzymes and restriction enzymes, the latter will exhibit a relatively faster sales expansion whereas the former will account for a larger market revenue share through 2026.
- North America is anticipated to remain the most remunerative market for molecular biology enzymes, kits & reagents, followed by Asia-Pacific excluding Japan (APEJ).
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Prominent companies in the global molecular biology enzymes, kits & reagents market are implementing strategies including manufacturing capacity & geographic expansion. Manufacturers are also concentrating on new product launches for enhancing their shares in this increasingly competitive market. The report has listed key players supporting the market growth, which include Thermo Fisher Scientific Inc., Illumina, Inc., Roche Holdings, Inc., Takara Bio Inc., Jena Bioscience GmbH, Merck & Co Company, Qiagen N.V., Agilent Technologies, Inc., KRISHGEN BioSystems, and Promega Corporation.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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