The global Molecular Biology Enzymes, Reagents And Kits Market size is expected to reach USD 29.3 billion by 2027, expanding at a CAGR of 11.0%, according to a new report by Grand View Research, Inc. The molecular biology field holds great potential to advance the medical treatments based on increasing scientific knowledge of cellular processes coupled with improving access to proteomics and genomics data. Personal genome sequencing is also expected to gain traction in the development of tailored diagnostics for each patient. A confluence of these factors drives the demand for molecular biology enzymes, reagents, and kits in the expansion of advanced personalized treatments.
Market
players are engaged in constant product launches to enhance the efficiency of
existing techniques and generate molecular information more easily, rapidly,
and accurately. For instance, in June 2020, PCR Biosystems introduced a 4x
RT-qPCR kit, qPCRBIO Probe 1-Step Virus Detect, designed for high-throughput,
ultra-sensitive detection of viral RNA sequences, such as coronavirus. This new
kit is proven to offer successful research in diagnostic projects.
Besides, synthetic
biology is a rapidly advancing biotechnology field, which applies robust,
innovative methods for drug manufacturing, cell therapies, and clinical
diagnostics. Funding initiatives in this field expand its applications, which
boost the usage of molecular biology products in these applications. As per
SynBioBeta data, 37 synthetic biology companies raised USD 1.2 billion in the
second quarter and 65 synthetic biology firms received USD 1.9 million funding
in the first quarter of 2019.
Request a free sample copy or view report summary: Molecular Biology
Enzymes, Reagents And Kits Market Report
Molecular
Biology Enzymes, Reagents And Kits Market Report Highlights
- Kits and reagents dominated the market in terms of revenue share in
2019 due to the availability of reagents and kits at low cost and their
repetitive use in routine laboratory workflows
- The presence of numerous domestic and international manufacturers
offering kits and reagents coupled with the low cost incurred in the
manufacturing of reagents are factors driving the market
- The completion of the Human Genome Project and a decline in the
sequencing cost have broadened the use of sequencing technology in the
molecular biology industry
- Next-generation Sequencing (NGS) is increasingly being employed for
the determination of variants in rare and genetic diseases as well as
molecular diagnosis of genetic disorders
- These factors contribute to an extensive application of molecular
products in NGS technology, thus resulting in a larger share for
sequencing in 2019
- Pharma and biotech is the highest revenue-generating end-use
segment in 2019 and is expected to witness the fastest CAGR during the
forecast period
- This is due to the wide implementation of PCR and NGS for the
development of companion diagnostics and diagnostic tests, especially for
the assessment of infectious diseases
- In the Asia Pacific, the is projected to witness the fastest growth
rate during the forecast period with China as the fastest growing
pharmaceutical market globally
- Expansion of the pharmaceutical industry along with an increase in
the investments from global pharmaceutical firms is expected to boost the
market growth in China
- In November 2019, AstraZeneca launched an R&D center and AI
innovation center in Shanghai. This initiative is expected to drive the
usage of molecular biology products in the pharma sector in China
- Major players, such as Thermo Fisher, Roche, Illumina, QIAGEN, and
Bio-Rad, have undertaken several strategic initiatives to reinforce their
market share
- For instance, in May 2020, Roche acquired Stratos Genomics that
allowed Roche to advance the development of its nanopore sequencer using
Sequencing by Expansion (SBX), the unique chemistry technology of the
Stratos Genomics.
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