Molecular Biology Enzymes and Kits & Reagents Market - Emerging Trends to Boost Revenue
The key factors driving the growth of this market include 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 and genetic disorders. However, the privacy concerns related to genetic information and limited reimbursements for genetic testing may hinder the growth of this market to a certain extent.
The global molecular biology enzymes and kits & reagents market is projected to reach USD 13.60 Billion by 2022 from USD 6.52 Billion in 2017, at a CAGR of 15.8% 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 application, the polymerase chain reaction (PCR) segment to hold the largest market share in 2017
Based on application, the market is segmented into polymerase chain reaction (PCR), sequencing, cloning, epigenetics, restriction digestion, synthetic biology, and other applications (mutagenesis, in vitro transcription, and molecular labeling & detection). The polymerase chain reaction (PCR) 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 low cost of PCR equipment, use of PCR equipment by the majority of the end users, and increasing use of PCR for molecular diagnostic assays in hospitals and clinics.
Objectives of the Study:
# To define and measure the global molecular biology enzymes and kits & reagents market on the basis of product, application, end user, and region.
# To identify key micromarkets and their drivers within the global molecular biology enzymes and kits & reagents market, which are expected to offer impressive growth opportunities in the coming years.
# To identify trends and opportunities for stakeholders in the market and provide details of the competitive landscape for major market leaders.
# To provide detailed information regarding the major factors influencing market growth (drivers, restraints, challenges, and opportunities).
# To forecast the size of the market segments with respect to four main regions, namely, North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of APAC), and the Rest of the World (Latin America and Middle East & Africa).
# To analyze the market structure and profile key players in the global molecular biology enzymes and kits & reagents market and comprehensively evaluate their core competencies.
# To track and analyze competitive landscape such as market share analysis and competitive leadership.
By end user, academic & research institutes to hold the largest market share in 2017
Based on end user, the 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.
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The molecular biology enzymes and kits & reagents market in several APAC countries, particularly, China, Japan, and India, are expected to witness high growth during the forecast period. This can be attributed to the increasing government interest in biomedical and biotechnology industries, outsourcing of clinical research activities to China, involvement of industry players in the Japanese market, growing pharmaceutical industry in India backed by government initiatives to drive market growth, and initiatives by non-profit organizations.
Major 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.
Some of the other players competing in this 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).