Molecular biology enzymes market size from USD 15.7 billion in 2022 to USD 60.8 billion in 10 years. The rising incidence of infectious diseases and genetic disorders drives the market’s growth. North America’s strong infrastructure for cutting-edge biotechnology and healthcare research and development accounts for a large portion of the market for molecular biology enzymes.
Newark, Jan. 29, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 15.7 billion molecular biology enzymes market will reach USD 60.8 billion by 2032. Enzymes related to molecular biology are used in various applications, including drug discovery, research and development, diagnostic testing, and life sciences research. Products related to molecular biology are used to analyse cell surface indicators that serve as targets for treatment or diagnosis. Moreover, cloning, DNA sequencing, RNA analysis, protein analysis, DNA isolation, RNA extraction, and polymerase chain reaction (PCR) are carried out using these products. The market for molecular biology enzymes is being driven by several factors, including the growing number of biotechnology and pharmaceutical companies, the rising prevalence of target indications in the US, the improving reimbursement scenario for molecular diagnostics, the rising investments made by the public and private sectors in research and development, the rising incidence of genetic disorders and chronic diseases, and the growing use of personalised medicine.
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Report Scope & Segmentation
|Revenue forecast in 2032
|USD 60.8 Billion
|2019 – 2021
|2023 – 2032
|Product, Application, By End-User
|North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World
|Number of Companies Covered
|New England Biolabs, Illumina, Inc., Agilent Technologies, Inc., Promega Corporation, Bio-Rad Laboratories, Inc., GenScript Biotech Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Merck KGaA, Qiagen, F. Hoffmann-La Roche Ltd., Takara Bio Inc., NEB (New England Biolabs), Enzymatics (acquired by Qiagen), Affymetrix (acquired by Thermo Fisher Scientific)
|Product offering, business overviews, geographic presence, business strategies, segment market share, product development & amp; innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information.
Key Insights on Molecular Biology Enzymes Market
North America to account for the largest market size during the forecast period.
North America is expected to have the essential molecular biology enzymes market share. The market for molecular biology enzymes, kits, and reagents is anticipated to be dominated by North America due to the region’s growing demand for personalised medicines, rising healthcare costs, and an increase in the prevalence of chronic diseases like cancer, heart disease, genetic disorders, and infectious diseases.
The kits segment dominated the market with the most significant revenue of USD 6.75 billion.
The kits segment dominated the market with the most significant revenue of USD 6.75 billion. In the molecular biology enzymes market, entire sets of prepackaged reagents and enzymes for specific molecular biology applications are called “kits”. These kits simplify experimental methods, resulting in increased efficiency and convenience.
The PCR segment dominated the market with the most significant revenue of USD 5.33 billion.
The PCR segment dominated the market with the most significant revenue of USD 5.33 billion. Polymerase chain reaction is a significant application area for molecular biology enzymes (PCR). PCR enables researchers to replicate and analyse specific DNA segments using enzymatic amplification of DNA. One significant trend in this market is the increasing need for high-fidelity DNA polymerases, which increase the precision of DNA amplification.
The research institutes segment dominated the market with the most significant revenue of USD 7.37 billion.
The research institutes segment dominated the market with the most significant revenue of USD 7.37 billion. The research institutes segment of the molecular biology enzymes market comprises academic and research organisations that employ enzymes for diverse molecular biology applications. Research institutes are crucial as end consumers in advancing genetic, biotechnology, and medicine development.
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Drivers: An increasing amount of genomic projects
The genesis and progression of various illnesses and disorders, including cancer, metabolic diseases, immune system disorders, and inborn genetic disorders, are significantly influenced by gene mutations. Consequently, a thorough understanding of the human genome can greatly aid researchers in comprehending the causes of particular diseases and creating treatment strategies. Research in several areas, including illness treatment, personalised medicine, and microbial genetics, is advanced by the growing number of genome studies undertaken worldwide and the declining costs associated with genetic analysis. The market for molecular biology enzymes, kits, and reagents is anticipated to be driven by these procedures, which call for employing several enzymes and reagents.
Restraint: Limited reimbursement policies
Policies regarding reimbursement for genetic testing are rigid. Most US health insurance plans do not cover genetic testing unless a doctor prescribes it. The provider’s policy is the only one that determines coverage and payment. For example, Medicare will pay for genetic testing if a patient has been diagnosed with cancer and meets the eligibility requirements for genetic testing for an inherited mutation. Globally, these worries are limiting market expansion.
Opportunity: R&D investments offer significant opportunities for the market
Over the past twenty years, genomics has developed as a scientific study endeavour. Driven by grants and funding from public entities, the genomics business has experienced notable technological advancements. R&D investments have shown promise for the market for molecular biology enzymes, kits, and reagents. China is one of the world’s biggest R&D investors, and by 2023, it is predicted to surpass the US in this regard. Numerous businesses have responded to this by growing their operations and R&D endeavours in China. Spending on research and development increased the nation from 10.3% in 2020 to USD 378 billion.
Some of the major players operating in the molecular biology enzymes market are:
● New England Biolabs
● Illumina, Inc.
● Agilent Technologies, Inc.
● Promega Corporation
● Bio-Rad Laboratories, Inc.
● GenScript Biotech Corporation
● Bruker Corporation
● Thermo Fisher Scientific Inc.
● Merck KGaA
● F. Hoffmann-La Roche Ltd.
● Takara Bio Inc.
● NEB (New England Biolabs)
● Enzymatics (acquired by Qiagen)
● Affymetrix (acquired by Thermo Fisher Scientific)
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Key Segments cover in the market:
● Synthetic Biology
● Pharma & Biotech Company
● Research Institutes
About the report:
The global molecular biology enzymes market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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