In-vitro Transcription Templates Market to Garner Brimming Revenues by 2026
Rise in focus of health care and pharmaceutical companies in R&D, drug discovery, and gene editing has led to increase in demand for new and advanced transcription techniques to introduce new products and drugs in the pharmaceutical industry. This, in turn, is driving the global In-Vitro Transcription Templates Market during the forecast period. Rise in adoption of personalized medicine by health care providers is expected to increase demand for in-vitro transcription templates. Introduction of CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) gene editing technology, enabling targeted medicine using RNA to bind to specific targets, and increase in incidence of rare diseases are some drivers of the global in-vitro transcription templates market during the forecast period. However, requirement for large capital investment deters new entrants from entering the market. This has increased the bargaining power of manufacturers and is leading to high cost of the in-vitro transcription templates and restraining the adoption and subsequent expansion of the global in-vitro transcription templates market.
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The global in-vitro transcription templates market is segmented on the basis of product type, application, end-user, and region. Based on product type, the global market is dived into plasmids, polymerase chain reaction (PCR) based products, oligonucleotides, and cDNA templates. The plasmids segment dominated the global in-vitro transcription templates market in 2017, owing to higher adoption of plasmids as templates by end-users. However, oligonucleotides segment is anticipated to expand at a considerable CAGR from 2018 to 2026. Expansion of the segment can be attributed to increase in application in research, therapeutics, and diagnostics of oligonucleotide templates. Base on application, the global in-vitro transcription templates market is segmented into drug discovery, structural studies, biochemical and genetic studies, and others. The drug discovery segment dominated the global market in 2017. In terms of end-user, the global in-vitro transcription templates market is segregated into contract research organizations (CROs), pharmaceutical and biotechnology companies, academic & research institutes, and others. The pharmaceutical and biotechnology companies segment is expected to dominate the global market in 2017 due to high R&D focus and expenditure.
Based on region, the global in-vitro transcription templates market is segmented into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global in-vitro transcription templates market in 2017, and is expected to continue its dominance during the forecast period. Increase in focus of health care institutions toward personalized medicine and targeted drug delivery, high expenditure of pharmaceutical and biotechnology companies for R&D, and rise in government initiatives to promote drug discovery are some factors driving the market in North America. Europe accounted for the second largest share of the market in 2017, followed by Asia Pacific.
Key players operating in the global in-vitro transcription templates market include Bio-Synthesis Inc., Thermo Fisher Scientific, Promega Corporation, Lucigen, New England Biolabs, Takara Bio USA (a Takara Bio Company), Enzynomics co Ltd., Enzo Life Sciences, Inc., and Agilent Technologies.
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