Transfection Technologies Market worth $1.8 billion by 2028

Transfection Technologies Market in terms of revenue was estimated to be worth $1.2 billion in 2023 and is poised to reach $1.8 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark
Transfection Technologies Market in terms of revenue was estimated to be worth $1.2 billion in 2023 and is poised to reach $1.8 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark . Increasing demand for advanced therapies owing to the rising prevalence of chronic diseases, along with the increasing R&D expenditure for drug discovery and development, is also aiding the adoption of transfection technologies. However, limited transfection efficiency and stringent regulatory standards are the major restraints to market growth.

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The kits & reagents segment accounted for the largest share by product type in the transfection technologies market in 2022.

By product type, the transfection technologies market has been further categorized kits & reagents and equipment. Kits & reagents accounted for the largest share of the transfection technologies market in 2022. The large share of this segment can be attributed to the increasing demand for high-quality reagents to transfect nucleic acids into cells. Additionally, the growing R&D activities in the biopharmaceutical industry and the increased initiatives by governments in various countries to strengthen their healthcare capabilities are supporting the growth of this market.

The viral vector-based transfection segment is expected to grow at a higher rate during the forecast period.

Based on the method, the transfection technologies market has been segmented into physical transfection, biochemical based transfection, and viral vector-based transfection. In 2022, the physical transfection segment accounted for the largest share of the transfection technologies market. However, the viral vector-based transfection segment is expected to grow at a higher growth rate during the forecast period of 2023-2028. This can be attributed to the increasing demand for advanced therapies and growing research activities in the field of life sciences and cell biology.

The therapeutic delivery segment accounted for the largest share of the application segment in the transfection technologies market in 2022.

Based on application, the transfection technologies market has been segmented into therapeutic delivery, biomedical research, protein production, and cell-based microarray. In 2022, the therapeutic delivery segment accounted for the largest share of the transfection technologies market. One of the major factors driving the growth of this segment is rising incidences of chronic and rare diseases. Additionally, the rising investments in discovering new ways to develop innovative cell-based products are driving the segment growth.

The pharmaceutical and biotechnology companies segment accounted for the largest share of the end user segment in the transfection technologies market in 2022.

Based on the end user, the transfection technologies market has been segmented into pharmaceutical and biotechnology companies, CROs and CDMOs, academic & research institutes and other end users. In 2022, pharmaceutical and biotechnology companies accounted for the largest share. This can be attributed to the increasing advancements in biopharmaceutical industries. Cell and tissue-based technologies are commonly associated with transfection technologies for cell transfection. Therefore, increasing demand for cell and gene therapy is one of the major factors driving the growth of this segment.

The North America region catered for the largest share of the transfection technologies market in 2022.

The transfection technologies market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). The North America region is witnessing increasing investments and research activities in the field of drug discovery and development. The need for advanced therapies due to rising incidence of cancer has contributed to the demand for transfection technologies.

Transfection Technologies Market Dynamics:

Drivers:

* Growing demand for cell & gene therapy

Restraint:

* Limited efficiency of transfection technologies

Opportunities:

* Increasing focus on personalized medicine

Challenge:

* Concern related to the cytotoxicity and transfection in hard-to-transfect cells

Key Market Players of Transfection Technologies Industry:

Key players in the transfection technologies market include Thermo Fisher Scientific Inc. (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Merck KGaA (Germany), Sartorius AG (Polyplus) (Germany), Lonza (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (US), MaxCyte (US), Revvity (US), Takara Bio Inc. (Japan), Promega Corporation (US), Danaher Corporation (US), BOC Sciences (US), RJH BIOSCIENCES (Canada), Synvolux (Netherlands), Altogen Biosciences (US), BioIVT (US), Incella GmbH (Germany), InvivoGen (France), Phoreus Biotech (US), STEMCELL Technologies (Canada), EZ Biosystems (US), OZ Biosciences (France), chemicell GmbH (Germany).

The primary interviews conducted for this report can be categorized as follows:

* By Respondent: Supply Side- 70% and Demand Side 30%
* By Designation: Managers - 45%, CXO & Directors - 30%, and Executives - 25%
* By Region: North America -35%, Europe -20%, Asia-Pacific -25%, Latin America -15% and Middle East & Africa- 5%

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Related Reports:

https://www.prnewswire.com/news-releases/transfection-technologies-market-worth-1-8-billion--marketsandmarkets-302059432.html

https://www.globenewswire.com/news-release/2024/02/29/2837858/0/en/Transfection-Technologies-Market-is-Expected-to-Reach-1-8-Billion-MarketsandMarkets.html

https://finance.yahoo.com/news/transfection-technologies-market-expected-reach-123000356.html

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This release was published on openPR.