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Molecular Biology Enzymes Market - Emerging Trends to Boost the Revenue Growth Prospects

Research Methodologies Followed for This Study:

Primary Research:

In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects of the Molecular Biology Enzymes Market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Secondary Research:

Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the molecular biology enzymes and kits & reagents market.

Some of the key secondary sources referred to for this study include publications from government sources World Bank, World Health Organization (WHO), World Intellectual Property Organization (WIPO), International Union of Biochemistry and Molecular Biology (IUBM, National Institutes of Health (NIH), National Human Genome Research Institute (NHGRI), Centers for Disease Control and Prevention (CDC), American Cancer Society (ACS), American Society for Biochemistry and Molecular Biology (ASBM, Canadian Society for Molecular Biosciences (CSM, Genome Canada. These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.

Expected Revenue Surge:

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.

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Major Growth Influencing Factors:

Growth in the molecular biology enzymes and kits & reagents market is driven by factors such as increased research activities and R&D 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.

Recent Developments:

# In February 2021, Thermo Fisher Acquired Mesa Biotech to expand its Life Sciences Solutions business segment. Through this acquisition, the revenue of this segment is expected to increase by approximately USD 200 million in 2021.

# In October 2020, New England Biolabs (US) launched the Luna Probe One-Step RT-qPCR 4X Mix with UDG.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the molecular biology enzymes and kits & reagents market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and market have been identified through extensive secondary research.
# The revenues generated from the molecular biology enzymes and kits & reagents business of leading players have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation:

After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

North America was the largest regional market for molecular biology enzymes and kits & reagents in 2020.

Geographically, the molecular biology enzymes and kits & reagents markets 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.

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Key Market Players:

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).


on June 20 at 10:41

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