Global Molecular Biology Enzymes and Kits & Reagents Market is forecasted to grow due to the increasing biopharmaceutical industry, growing usage of single-use technologies, and increasing cell-based research.The Global Molecular Biology Enzymes and Kits & Reagents Market size was valued at USD 13.1 Bn in 2020 is expected to reach USD 33.9 Bn by 2027, with a growing CAGR of 14.2 % during the forecast period.
The increase in technological advancement and the adoption of molecular biology, driving the usage of molecular biology consumables. The computational tool and the biological database propels the adoption of solutions in molecular biology and thus driving the molecular biology enzymes and kits & reagents market during the forecast period. The emerging molecular medicine also helps in propelling the molecular biology enzymes and kits & reagents market during the forecast period. Single-cell genome sequencing has accelerated the growth of the market with revenue generation.
The ongoing research and clinical trial in molecular biology accelerate the molecular biology enzymes and kits & reagents market during the forecast period. The increased investment in cell-based research and the rising economies lead to the growth of key players in the molecular biology enzymes and kits & reagents market. For instance, in September 2020, Agilent Technologies Inc. launched the SureSelect XT HS2 RNA Kit for both DNA and RNA samples which allows the customers to keep focus without losing time invalidating for different sample types. The technological advancement in molecular biology and product launches encourage the demand for molecular biology enzymes and kits & reagents market.
The molecular biology enzymes and kits & reagents market is broadly segmented into products, applications, end-user, and regions. Product is segregated into kit & reagent, and enzymes. Based on products, the kits & reagents segment has accounted for the largest share in the molecular biology enzymes and kits & reagents market in 2020 and is expected to continue it’s dominance during the forecast period. The largest share of this segment is attributed to the increasing usage and application in the biotechnology and pharmaceutical companies.
Application is segregated into epigenetics, polymerase chain reaction, sequencing, cloning, synthetic biology, restriction digestion, and others. Based on application, the polymerase chain reaction segment accounted for the highest molecular biology enzymes and kits & reagents market share in 2020. This is due to the high implementation of polymerase chain reaction equipment by the end-users across the globe, increasing usage of PCR for molecular diagnostic assays and low cost of polymerase chain reaction equipment.
The end-user segment in the molecular biology enzymes and kits & reagents market is segregated into hospitals & diagnostic centers, academic & research institutes, pharmaceutical & biotechnology companies, and others. Based on end-user, the academic & research institutes segment has the maximum market shares in 2020 and is expected to acquire more during the forecast period. This is due to the increase in investment and funding for life science research.
Global molecular Biology Enzymes and Kits & Reagents Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, North America dominated the molecular biology enzymes and kits & reagents market in 2020 and is expected to maintain the same dominance throughout the forecast period. This is due to the increasing demand for molecular biology enzymes and kits & reagents in biotechnology and biopharmaceutical manufacturing. The new product launches and cost-efficiency accelerates the market in the North America. The rising research funding and investments, suitable reimbursement policies, and growing pharmaceutical and biotechnology companies promote the market.
The key players have a strong presence and easy product sales due to the high demand ultimately leading to drive the molecular biology enzymes and kits & reagents market. The prominent players are focused on mergers & acquisitions and strategic expansions to expand their presence in the molecular biology enzymes and kits & reagents market. For instance, in September 2018, VetMAX MastiType was launched by Thermo Fisher Scientific Inc. for the rapid testing of mastitis pathogens.
The Global Molecular biology enzymes and kits & reagents MarketSegmentation:
Global Molecular Biology Enzymes and Kits & Reagents Market by Material Outlook (Revenue, USD Million, 2021-2027)
Global Molecular Biology Enzymes and Kits & Reagents Market by Application Outlook (Revenue, USD Million, 2021-2027)
Global Molecular Biology Enzymes and Kits & Reagents Market by End User Outlook (Revenue, USD Million, 2021-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the market are:
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