|Status : Upcoming||Report Code : VRHC1041||Industry : Healthcare||Available Format :|
Molecular biology enzymes and kits are natural proteins created by living organisms and are extremely discerning biochemical catalysts. The global molecular biology enzymes and kits market is growing at significant rate, due to mounting occurrence of infectious diseases and genetic diseases. Different product contributed to the molecular biology enzymes and kits market size. The market has witnessed high demand for kits and reagents over the last few years due to the necessity of recurrence buying of these single-use products and mounting drug research in the pharmaceutical industry.
Insight by Product
On the basis of product the market is subdivided into kits & reagents and enzymes. Of all products, reagents & kits segment accounted largest share and is expected to grow at fastest rate in the market due to the necessity of recurrence buying of these single-use products and mounting drug research in the pharmaceutical industry. The enzymes market is further subdivided into polymerases, phosphatases, restriction endonucleases, proteases and proteinases, ligases, reverse transcriptases and others. Polymerases accounted largest share in the enzymes market.
Insight by Application
On the basis of application the market is subdivided into cloning, polymerase chain reaction, synthetic biology, sequencing, restriction digestion, epigenetics and others. Escalating DNA sequencing with progression in genomic research, declining prices of sequencing, speedy technological improvements, and budding usage of personalized and whole-genome genome sequencing are the factors growing the demand of sequencing application. Among the all applications, the sequencing segment is expected to grow at fastest share in the molecular biology enzymes and kits market.
In addition, polymerase chain reaction accounted the largest share in the market due to fewer prices of PCR equipment, mounting usage of PCR for molecular diagnostic assays in clinics and hospitals and usage of PCR equipment by the end users.
Insight by End User
The different end user of the molecular biology enzymes and kits market are academic & research institutes, diagnostic centers & hospitals, biotechnology & pharmaceutical companies and others. Mounting acceptance of molecular diagnostics and intensifying occurrence of disorders which demand molecular biology assays for diagnosis are the factors growing the demand of molecular biology enzymes and kits in diagnostic centers & hospitals. Among the all end users, the diagnostic centers & hospitals are expected to grow at fastest rate in the molecular biology enzymes and kits market.
In addition, academic & research institutes accounted the largest share in the market due to mounting research activities and funding from government and private organizations.
The technological developments in life science industry, mounting occurrence of genetic disorders and infectious diseases and budding number of genome projects are the primary growth drivers for molecular biology enzymes and kits market. For instance, according to the World Health Organization (WHO), in 2016 approximately 10.4 million people were suffering with tuberculosis and approximately 1.7 million people die from the disease. Moreover, according to WHO in 2015 approximately 887,000 deaths occurred due to complications of hepatitis B and in 2016 approximately one million people died from HIV related causes
Enlarged usage of personalized medicine and intensified research activities and R&D assets in the life science industry are also facilitating the growth for the molecular biology enzymes and kits market.
The inadequate reimbursements for genetic testing and secrecy concerns related to genetic information are the major challenges for the growth of molecular biology enzymes and kits market.
Globally, the manufacturing companies trying to enter the molecular biology enzymes and kits market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest molecular biology enzymes and kits market as in the region the prevalence of conditions involving molecular diagnostics is increasing. Mounting research finance for genomics research, expanding number of pharmaceutical and biotechnology companies, and escalating funds in research projects are also up surging growth of the North American molecular biology enzymes and kits market.
Asia-Pacific is observed to witness fastest growth in the market, due to mounting government concentration in biomedical and biotechnology industries. In addition, outsourcing of clinical research activities, mounting pharmaceutical industry and schemes by non-profit organizations are also creating a positive impact on the molecular biology enzymes and kits market growth in the region.
Key players in the molecular biology enzymes and kits market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In June 2018, Thermo Fisher Scientific, Inc., opened the U.S. Precision Medicine Science Center (PMSC) in Cambridge, to develop analytical workflows which produce accurate molecular profiles of patients. New England Biolabs, Thermo Fisher Scientific, Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd, Qiagen N.V., Bio Basic Inc., Merck KGaA, Agilent Technologies, Inc., Takara Bio, Inc. and Promega Corporation are the key players offering molecular biology enzymes and kits.