Molecular Biology Enzymes, Kits, and Reagents Market Size Emerging Trend, Top Companies, Industry Demand and Regional Analysis 2028

The "Molecular Biology Enzymes, Kits, and Reagents Market" is likely to be valued at US$ 15,715.48 million in 2022 and it is projected to reach US$ 41,104.71 million by 2028; it is expected to grow at a CAGR of 17.8% during 2022-2028.

The growth of the 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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Companies Profiled in this report includes:

• THERMO FISHER SCIENTIFIC INC
• Illumina, Inc.
• Qiagen
• Agilent Technologies, Inc.
• F. HOFFMANN-LA ROCHE LTD
• Merck KGAA
• Jena Bioscience GmbH
• Bioline Technologies
• Promega Corporation
• Rockland Immunochemicals Inc

The cost of genome sequencing, as well as next-generation sequencing, has dropped radically in the past 6-7 years. For instance, the whole human genome sequencing cost was ~US$ 3.7 billion in 2000, and the process took more than a decade for the completion. However, the costs of this process dropped down to US$ 10 million in 2006 and US$ 5,000 in 2012; it has further reduced to US$ 1,000 in recent years. Moreover, the process requires a lesser number of days for completion. In 2003, the International Human Genome Sequencing Consortium started the genome analysis by sequencing a complete human genome. The sequencing cost was ~US$ 2.6 billion (EUR 2.3 billion). By 2008, costs dropped to lower than US$ 1.4 million (EUR 1 billion) per genome. However, now, it costs US$ 400-500 to sequence an exome and US$ 1,000-1,200 to sequence a genome.

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Molecular Biology Enzymes, Kits, and Reagents Market Segmentation:

By Product:
• Enzymes
• Kits and Reagents

By Application:
• Polymerase Chain Reaction
• Sequencing
• Synthetic Biology
• Epigenetics
• Cloning

By End User:
• Biotechnological and Pharmaceutical Companies
• Hospitals and Diagnostic Centers
• Academic and Research Institutes

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.

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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 market, by kits & reagents, is further segmented into PCR, lyophilisable and air dryable, NGS, cDNA synthesis, isothermal amplification, DNA extraction, and others. The market, by PCR, is further segmented into Real-time PCR/ quantitative real-time PCR (qPCR), reverse transcriptase PCR (RT-PCR), multiplex PCR, and others. 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.

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