PUBLISHER: The Business Research Company | PRODUCT CODE: 1425656
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425656
Molecular Biology Enzymes & Kits & Reagents Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on molecular biology enzymes & kits & reagents market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for molecular biology enzymes & kits & reagents? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The molecular biology enzymes & kits & reagents market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Molecular biology enzymes, kits, and reagents are fundamental in the extraction and isolation of DNA or RNA fragments from complex nucleic acid mixtures. They play a crucial role in drug discovery, clinical investigations, and the development of candidate drug molecules. These tools are extensively utilized by pharmaceutical companies for tasks like cloning, RNA and DNA analysis and sequencing, as well as DNA isolation and protein analysis.
The primary products within the domain of molecular biology enzymes, kits, and reagents include enzymes like polymerases, ligases, restriction endonucleases, reverse transcriptase, and others. These kits and reagents find extensive use in molecular diagnostics, genetic disease diagnosis, gene analysis, and molecular fingerprinting. They serve as substances or tools enabling the identification of microorganisms in samples, applied across various fields such as sequencing, cloning, PCR, epigenetics, restriction digestion, and numerous other applications. These tools see utilization in academic and research institutes, pharmaceutical and biotechnology companies, hospitals and diagnostic centers, and various other end-user segments.
The molecular biology enzymes and kits and reagents market research report is one of a series of new reports from The Business Research Company that provides molecular biology enzymes and kits and reagents market statistics, including molecular biology enzymes and kits and reagents industry global market size, regional shares, competitors with a molecular biology enzymes and kits and reagents market share, detailed molecular biology enzymes and kits and reagents market segments, market trends and opportunities, and any further data you may need to thrive in the molecular biology enzymes and kits and reagents industry. This molecular biology enzymes, kits, and reagents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The molecular biology enzymes & kits & reagents market size has grown rapidly in recent years. It will grow from $18.33 billion in 2023 to $21.1 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth observed in the historical period can be linked to several factors, including advancements in genomic research, expansion within the biotechnology industry, progress in diagnostic and therapeutic methodologies, a pronounced emphasis on genomic sequencing, and significant advancements in cloning techniques.
The molecular biology enzymes & kits & reagents market size is expected to see rapid growth in the next few years. It will grow to $38.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The growth witnessed in the past can be credited to a variety of elements, such as advancements in genomic research, the expansion of the biotechnology sector, strides made in diagnostic and therapeutic methods, a notable focus on genomic sequencing, and substantial progress in cloning techniques.
The projected rise in infectious diseases is expected to drive the growth of the market for molecular biology enzymes, kits, and reagents. Infectious diseases stem from harmful microorganisms like bacteria, fungi, and parasites, prompting the use of these tools to isolate and characterize these organisms for effective patient treatment. For example, as of July 2022, the Australian Institute of Health and Welfare reported a notable increase in modifiable infectious disease cases in Australia, reaching 7.02 million in 2021. This surge underscores the heightened demand for tools aiding in the control and treatment of infectious diseases, propelling the market for molecular biology enzymes, kits, and reagents.
The expanding adoption of automation within production processes is anticipated to drive the market for molecular biology enzymes, kits, and reagents. Automation, employing technology such as robotics, streamlines manufacturing operations and bolsters demand for these tools. For instance, as per a report from Manufacturing India in March 2022, India's manufacturing industries are witnessing widespread adoption of automation. Projections suggest that by 2050, around 85-90% of manufacturing firms in India will have embraced automation. This trend is expected to significantly contribute to the growth of the nucleic acid isolation and purification market.
Technological innovation stands out as a key trend shaping the market for molecular biology enzymes, kits, and reagents. Industry leaders are focused on creating advanced technologies that expedite disease identification by streamlining processes. An example of this innovation is Promega Corporation's launch of XpressAmp Direct Amplification Reagents in March 2021. This cutting-edge reagent simplifies RNA extraction, expediting COVID-19 disease detection by allowing labs to directly proceed to polymerase chain reaction (PCR) amplification without the bottleneck of RNA extraction.
Major players in the market for molecular biology enzymes, kits, and reagents prioritize strategic partnerships to advance their objectives. These collaborations involve resource-sharing to foster mutual growth. As seen in February 2023, Ultima Genomics, Inc partnered with New England Biolabs Inc to enhance next-generation sequencing (NGS) procedures for DNA, RNA, and methylation sequencing applications. Such alliances allow companies to combine expertise and resources for technological advancements.
Strategic acquisitions are pivotal in shaping the market for molecular biology enzymes, kits, and reagents. A case in point is Danaher Corporation's acquisition of Aldevron LLC in June 2021 for $9.6 billion. This strategic move amplifies Danaher's capabilities in genomic medicine, enabling them to better serve customers in their quest for expedited life-saving treatments and vaccines. Aldevron LLC, specializing in manufacturing plasmid DNA, RNA, proteins, and enzymes for pharmaceutical and biotechnology companies, adds crucial expertise to Danaher's portfolio.
Major companies operating in the molecular biology enzymes & kits & reagents market report are Thermo Fisher Scientific Inc., Merck & Co. Inc., Promega Corporation, New England Biolabs Inc., Illumina Inc., Takara Bio USA Holdings Inc., QIAGEN, Agilent Technologies Inc., F Hoffmann-La Roche AG, Bio-Rad Laboratories Inc., LGC Group, Jena Bioscience GmbH, Molecular Biology Resources Inc., Integrated DNA Technologies Inc., Randox Laboratories, ADS Biotec Inc., Goldsite Diagnostics Inc., GE Healthcare, Lucigen Corporation, Bio Basic Inc., Bioo Scientific Corporation, Bioline, Biotechrabbit GmbH, BioWORLD, Epicentre, Hamilton Company, Omega Bio-tek, Sigma-Aldrich, Zymo Research, Abcam plc.
North America was the largest region in the molecular biology enzymes, kits, and reagents market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molecular biology enzymes & kits & reagents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the molecular biology enzymes & kits & reagents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The molecular biology enzymes, kits, and reagents market consists of sales of terminal deoxynucleotidyl transferees, modified bacteriophage T7 DNA polymerase, and T4 DNA polymerase. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.