The Worldwide Molecular Biology Enzymes & Kits & Reagents Industry is Expected to Reach $29.7 Billion by 2026 at a CAGR of 14.2% from 2021 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Molecular Biology Enzymes & Kits & Reagents Market by Product (Kit, Reagent, Enzyme), Application (PCR, Sequencing, Epigenetic, Synthetic Biology), End user (Research Institutes, Pharma & Biotech Company, Hospitals) and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global molecular biology enzymes and kits & reagents market is projected to USD 29.7 billion by 2026 from USD 15.3 billion in 2021, at a CAGR of 14.2% during the forecast period.

The rising number of genome projects coupled with reducing genetic analysis costs helps advance research in various domains, such as disease treatment, personalized medicine, and microbial genetics. These processes require the use of various molecular biology enzymes and reagents and are thus expected to drive the molecular biology enzymes and kits & reagents market. However, factors such as limited reimbursements for genetic testing are likely to hinder the growth of this market.

The kits & reagents segment accounted for the highest growth rate in the molecular biology enzymes and kits & reagents market, by product, during the forecast period

The molecular biology enzymes and kits & reagents market is segmented into enzymes and kits & reagents. The kits & reagents segment accounted for the largest share of 85.9% of the global molecular biology enzymes and kits & reagents market in 2020. The large share of this segment can primarily be attributed to the repeat purchase of these single-use products. This segment is also expected to grow at the highest rate owing to its wide applications by pharmaceutical & biotechnology companies.

Polymerase chain reaction (PCR) segment accounted for the largest share

Based on applications, the global molecular biology enzymes and kits & reagents market is segmented into polymerase chain reaction (PCR), sequencing, cloning, epigenetics, restriction digestion, synthetic biology, and other applications (mutagenesis, in vitro transcription, and molecular labeling & detection).

The polymerase chain reaction (PCR) segment accounted for the largest share of the molecular biology enzymes and kits & reagents market in 2020, mainly due to the low cost of PCR equipment, the extensive use of PCR equipment by a majority of end users, and the increasing use of PCR for molecular diagnostic assays in hospitals and clinics.

Asia Pacific: The fastest-growing region in the molecular biology enzymes and kits & reagents market

The molecular biology enzymes and kits & reagents market is segmented into North America, Europe, Asia Pacific, RoW. The molecular biology enzymes and kits & reagents market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in the APAC market is driven by increasing government interest in the biomedical & biotechnology industries, the presence of bio-clusters in India and China, and the growing outsourcing of clinical research activities to Asian countries.

Market Dynamics

Drivers

• Growing Number of Genome Projects
• Technological Advancements in the Life Science Industry
• Rising Incidence of Genetic Disorders

Restraints

• Limited Reimbursements for Genetic Testing

Opportunities

• Increased Use of Personalized Medicine
• R&D Investments Offer Significant Opportunities for the Market

Companies Mentioned

• Ads Biotec
• Agilent Technologies, Inc.
• Aldevron
• Bio Basic Inc.
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd.
• Genekam Biotechnology Ag
• Goldsite Diagnostics Inc.
• Hangzhou Matridx Biotechnology Co. Ltd.
• Illumina, Inc.
• Integrated Dna Technologies, Inc.
• Jena Bioscience GmbH
• Lgc Biosearch Technologies
• Lucigen Corporation
• Merck KGaA
• Mobitec GmbH
• Molecular Biology Resources, Inc.
• New England Biolabs
• Nzytech, Lda. - Genes & Enzymes
• Promega Corporation
• Qiagen N.V.
• Randox Laboratories Ltd.
• Takara Bio, Inc.
• Thermo Fisher Scientific, Inc.
• Zymo Research Corporation

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