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Molecular Biology Enzymes, Kits & Reagents Market - Global Industry Trends and Opportunities in 2020
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The molecular biology enzymes market can be categorized into seven major segments, namely, proteases and proteinases, ligases, polymerases, phosphatases, restriction endonucleases, reverse transcriptases and other molecular biology enzymes. Whereas the molecular biology kits and reagents market can be categorized into six major application segments, namely, PCR, epigenetics, cloning, restriction digestion, sequencing and other applications.
Some of the major driving factors for the growth of this market include increasing research and development activities in biotechnology research and drug discovery, rising number of applications for these enzymes & reagents and increasing demand for new and improved enzymes & reagents. Increasing number of life science and research-based organizations worldwide has induced high number of research and development activities, hence in turn, this has added to the growing demand for enzymes and reagents. Rising number of applications for these enzymes and reagents such as, gene expression analysis, a large number of diagnostic tests, and DNA fingerprinting among others will also augment the growth of this market in future. Increasing use of these enzymes and reagents in biotechnology and pharmaceutical companies as well as academic institutions have caused an increase in demand for new and improved products, which will further add to this market’s growth. Also, government initiatives in biotechnology industry will boost the demand from this market; hence in turn will add to the growth in demand for molecular biology enzymes, kits and reagents. However, factors such as lack of skilled workforce and huge patent repositories with only a few global players may act as restraints to the growth of this market.
Geographically, North America holds the leadership in the global molecular biology enzymes, kits and reagents market followed by Europe. Key factors responsible for their leading position in this market are high number of research and development activities along with rising demand for new and improved enzymes and reagents in the region. However, Asia Pacific region is expected to show a rapid growth in this market in future due to several notable factors. Such factors include increasing number of life science and drug discovery research institutes with increasing number of research and development activities and increasing government initiatives to promote research in biotechnology institutions in the region. This causes huge demand for various molecular biology enzymes and reagents, which will further augment the growth of this market in the region.
Some of the major players operating in this market are Affymetrix, Inc., Agilent Technologies, Enzymatics, Illumina, Inc., New England Biolabs, Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Sigma-Aldrich Co. LLC, Takara Bio, Inc. and Thermo Fisher Scientific, Inc.
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