Molecular Biology Enzymes, Kits, and Reagents Market is expected to reach US$ 41,104.71 Mn by 2028 With THERMO FISHER SCIENTIFIC INC; Illumina, Inc.; Qiagen; Agilent Technologies, Inc.; F. HOFFMANN-LA ROCHE LTD; Merck KGAA; Jena Bioscience GmbH; Bioline T

According to our new research study on “Molecular Biology Enzymes, Kits, and Reagents Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and End User,” the market is expected to reach US$ 41,104.71 million by 2028 from US$ 10,987.17 million in 2020; it is estimated to grow at a CAGR of 17.8% from 2021 to 2028. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the molecular biology enzymes, kits, and reagents market is attributed to a few key driving factors such as healthy funding for genomics, declining cost of sequencing procedures, and increasing prevalence of chronic diseases. However, the dearth of skilled professionals hinders the market growth.

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Based on product, the molecular biology enzymes, kits, and reagents market is bifurcated into enzymes and kits & reagents. The market, by enzymes, is further segmented into polymerases, ligases, reverse transcriptases, phosphatases, proteases and proteinases, restriction endonuclease, and other. The kits & reagent segment held a larger market share in 2020, and the same segment is estimated to register a higher CAGR during the forecast period. Increasing research and development activities coupled with growing number of product launches drive the market growth for this segment. Moreover, rising utilization of genome sequencing technologies are estimated to propel the demand for reagents & kits, which would ultimately boost the market growth for the reagents & kits segment by 2028.

The molecular biology enzymes, kits, and reagents market is witnessing substantial growth amid COVID-19 pandemic. The majority of the healthcare research organizations, market players, and academic centers are actively engaged in the research and development activities to develop new vaccines and therapeutic platforms for novel coronavirus that causes COVID-19. This extensive rise in research and development activities is expected to boost the demand for molecular biology kits and reagents, which, in turn, would drive the growth of the molecular biology enzymes, kits, and reagents market in coming years.

THERMO FISHER SCIENTIFIC INC; Illumina, Inc.; Qiagen; Agilent Technologies, Inc.; F. HOFFMANN-LA ROCHE LTD; Merck KGAA; Jena Bioscience GmbH; Bioline Technologies; Promega Corporation; and Rockland Immunochemicals Inc are among the leading companies operating in the molecular biology enzymes, kits, and reagents market.

The report segments molecular biology enzymes, kits, and reagents market as follows:

By Product

Enzymes
Polymerases
Ligases
Reverse Transcriptases
Phosphatases
Proteases and Proteinases
Restriction Endonuclease
Other
Kits and Reagents

By Application

Epigenetics
Sequencing
Synthetic Biology
Polymerase Chain Reaction
Other

By End User

Biotechnological and Pharmaceutical Companies
Hospitals and Diagnostic Centres
Academic and Research Institutes

By Geography

North America
US
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
South Korea
Rest of APAC
Middle East & Africa (MEA)
Saudi Arabia
UAE
South Africa
Rest of MEA
South and Central America (SCAM)
Brazil
Argentina
Rest of SCAM

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This release was published on openPR.