Molecular biology enzymes, kits, and reagents are used in a wide range of fields such as diagnostic testing, drug discovery, and life science research. These products are used for analyzing cell surface markers that are known to act as therapeutic and diagnostic targets in the human body. The polymerase chain reaction that includes reverse transcriptase–polymerase chain reactions, one of the most commonly used preparative and diagnostic procedures in molecular biology. This process further requires a different enzyme, kits, and reagents, which can be used for DNA fingerprinting, gene analysis, and hereditary disease diagnosis.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the biotechnology industry is expected to witness significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19.
COVID-19 is further expected to have a significant impact on the molecular biology enzyme, kits, and reagents market, as the supply chain of raw materials required to manufacture these reagents has been disrupted in many countries. In addition, the market growth of molecular biology enzymes, kits, and reagents is declining, as manufacturers of these products have slowed down their production due to the pandemic.
Top Impacting Factors
The growth in the molecular biology enzyme, kits, and reagents market is driven majorly by increased research & development activities regarding molecular biology enzyme applications in the biotechnology industry.
Many molecular biology enzyme kits and reagents are further used in gene mapping and gene sequencing. Thus, rise in the number of genome projects all across the world boosts the growth of the molecular biology enzyme, kits, and reagents market.
The cost of genetic analysis has reduced considerably in recent years, which has led to a major development in various research domains such as disease treatment, microbial genetics, and personalized medicine. Molecular biology enzymes, kits, and reagents are often used in such kinds of research, which is why notable growth in the market has been witnessed.
However, lack of reimbursement policies for genetic testing is one of the factors acting as a restraint of the molecular biology enzyme, kits, and reagents market.
Key Market Trends
The polymerase chain reaction segment accounted for the largest share in 2020. This is majorly attributable to low cost of polymerase chain reacting equipment and the extensive use of such reactions by majority of end users of the market.
The academic & research institutes segment holds a major share in the market, due to increase in funding by governments and nonprofit organizations of different nations for life science research.
North America dominates the molecular biology enzyme, kits, and reagents market, due to increase in research funds in clinical & translational research and surge in number of biotechnology & pharmaceutical companies in nations such as Canada.
Asia-Pacific is expected to witness lucrative growth opportunities in the molecular biology enzyme, kits, and reagents market due to the presence of bio-clusters in the nations such as India and China and increase in outsourcing of research activities to the countries in this region.
Key Benefits of the Report
- This study presents the analytical depiction of the molecular biology enzyme, kits, and reagents industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Molecular Biology Enzyme, Kits, and Reagents Report
- Which are the leading players active in the molecular biology enzyme, kits, and reagents market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the molecular biology enzyme, kits, and reagents market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What are molecular biology enzymes, kits, and reagents?
- What are the current trends and predicted trends?
Molecular Biology Enzymes, Kits, and Reagents Market Report Highlights
| Aspects | Details |
 By Product |
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 By Application |
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 By End Users |
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 By Region |
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 Key Market Players | New England Biolabs, Promega Corporation, Merck KGaA, Qiagen N.V., Illumina, Inc ., Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Takara Bio, Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Zymo Research Corporation |
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