The global Molecular Biology Enzymes Market in terms of revenue was estimated to be worth $15.3 billion in 2021 and is poised to reach $29.7 billion by 2026, growing at a CAGR of 14.2% from 2021 to 2026. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
Growth in the global market is driven by factors such as increased research activities and RD investments in the life science industry, rising number of genome projects, technological advancements in the life science industry, and rising incidence of genetic disorders. However, limited reimbursements for genetic testing are expected to restrain the growth of this market during the forecast period.
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Key players in the molecular biology enzymes and kits reagents market include Thermo Fisher (US), Merck (Germany), Illumina (US), QIAGEN (Netherlands), New England Biolabs (US), Promega (US), Agilent (US), Roche (Switzerland), Takara Bio (Japan), Bio Basic (Canada), Jena Bioscience (Germany), Molecular Biology Resources (US), Bio-Rad Laboratories, Inc. (US).
The polymerase chain reaction (PCR) segment dominated the molecular biology enzymes market in 2020:
Based on applications, the global 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 28.3% of the 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.
The academic research institutes segment accounted for the largest share in 2020
Based on end users, the global market is segmented into academic research institutes, hospitals diagnostic centers, pharmaceutical biotechnology companies, and other end users (contract research organizations (CROs), food beverage companies, and forensic agencies). In 2020, the academic research institutes segment accounted for the largest share of 36.3% of the molecular biology enzymes market. The large market share of this segment is due to the increase in funding for life science research from governments and non-profit organizations.
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North America was the largest regional market for molecular biology enzymes and kits reagents in 2020.
Geographically, the molecular biology enzymes market is segmented into North America, Europe, Asia Pacific, RoW. In 2020, North America accounted for the largest share of the molecular biology enzymes and kits reagents market, followed by Europe Asia Pacific. The large share of North America in the global market can be attributed to the increasing research funds in translational and clinical research, the growing number of pharmaceutical and biotechnology companies, favourable reimbursement scenario for molecular diagnostics, and the growing investments in research projects in Canada.
