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Molecular Biology Enzymes & Kits & Reagents Market Size, Trends, Latest Insights, Analysis And Forecast 2024-2033
Molecular Biology Enzymes & Kits & Reagents Market Size
Molecular Biology Enzymes & Kits & Reagents Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $110.32 billion In 2028 At A CAGR Of 13.2% :
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 in the historic period can be attributed to genomic research advancements, biotechnology industry growth, diagnostic and therapeutic advancements, focus on genomic sequencing , 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 in the forecast period can be attributed to automation and high-throughput solutions, regenerative medicine focus, tissue engineering applications, rna interference techniques. Major trends in the forecast period include biotechnology and life sciences growth, pcr-based technologies, proteomics advancements, drug discovery applications, stem cell research expansion, collaborations and research funding.
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Molecular Biology Enzymes & Kits & Reagents Market Major Segments
The molecular biology enzymes & kits & reagents market covered in this report is segmented -
1) By Product: Kits and Reagents, Enzymes, Polymerases, Ligases, Restriction Endonucleases, Reverse Transcriptases, Other Enzymes
2) By Application: Sequencing, Cloning, PCR, Epigenetics, Restriction Digestion, Other Applications
3) By End Users: Academic and Research Institutes, Pharmaceutical and Biotechnology companies, Hospitals and Diagnostic Centers, Other End Users
Key Driver - Rising Prevalence Of Infectious Diseases Fuels Growth In The Molecular Biology Enzymes, Kits, And Reagents Market
The rising prevalence of infectious diseases is expected to propel the growth of the molecular biology enzymes, kits, and reagents market. Infectious diseases are illnesses caused by harmful microorganisms such as bacteria, fungi, parasites, and others. The molecular biology enzymes, kits, and reagents help isolate and characterize infectious organisms to control and treat them in patients. For instance, in July 2022, according to the Australian Institute of Health and Welfare, an organization that provides data and statistics about Australia's welfare and health, the cases of modifiable infectious diseases in Australia grew to 7.02 million cases in 2021. It shows a significant growth in the total number of cases of infectious diseases. Therefore, the increase in the incidence of infectious diseases is driving the growth of the molecular biology enzymes, kits, and reagents market.
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Prominent Trend - Technological Innovations Transforming Enzymes, Kits, And Reagents In Disease Detection Market
Technological innovation is a key trend gaining popularity in the molecular biology enzymes, kits, and reagents market. Major market players are creating innovative technologies to identify diseases faster by removing bottlenecks in the process. Such innovations enable key players to gain a competitive edge in the market. For instance, in March 2021, Promega Corporation, a US-based company specializing in developing and manufacturing enzymes and other products for the life science research industry, launched XpressAmp Direct Amplification Reagents. This innovative reagent offers RNA extraction and free sample preparation that directly facilitates the detection of COVID-19 diseases. With this innovation, COVID-19 testing labs now have a new tool that enables them to skip the workflow stage of RNA extraction that may be bottlenecked and go straight to the step of polymerase chain reaction (PCR) amplification.
Molecular Biology Enzymes & Kits & Reagents Market Players
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.
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Largest And Fastest Growing Region In The Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Molecular Biology Enzymes & Kits & Reagents Market Report Structure
3. Molecular Biology Enzymes & Kits & Reagents Market Trends And Strategies
4. Molecular Biology Enzymes & Kits & Reagents Market - Macro Economic Scenario
5. Molecular Biology Enzymes & Kits & Reagents Market Size And Growth
…..
27. Molecular Biology Enzymes & Kits & Reagents Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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