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(Medical-NewsWire.com, July 28, 2020 ) Molecular biology enzymes are natural proteins produced by living organisms (animals, plants, and bacteria) and are highly selective biochemical catalysts. Molecular biology reagents are chemicals used in molecular biology reactions to optimize the workflow.
The key factors driving the growth of this market include 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 infectious diseases and genetic disorders. However, the privacy concerns related to genetic information and limited reimbursements for genetic testing may hinder the growth of this market to a certain extent.
Target Audience:
# Molecular Biology Enzymes and Kits & Reagents Manufacturers and Vendors
# Associations Related to Molecular Biology Enzymes and Kits & Reagents
# Contract Research Organizations (CROs)
# Research Institutes and Academic Centers
# Pharmaceutical and Biopharmaceutical Companies
# Business Research and Consulting Service Providers
# Venture Capitalists
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By end user, academic & research institutes to hold the largest market share in 2017
Based on end user, the 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). The academic & research institutes segment is expected to command the largest share of the molecular biology enzymes and kits & reagents market in 2017. The large share of this segment can be attributed to the increasing research activities backed by funding from government and private organizations.
North America to dominate the market in 2017
In 2017, North America is expected to account for the largest share of the molecular biology enzymes and kits & reagents market, followed by Europe, Asia Pacific (APAC), and the Rest of the World (Latin America and the Middle East & Africa). Factors such as increasing research funding for genomics research, rising number of pharmaceutical and biotechnology companies, favorable reimbursement scenario for molecular diagnostics, and growing prevalence of target indications are contributing to the large share of North America.
The molecular biology enzymes and kits & reagents market in several APAC countries, particularly, China, Japan, and India, are expected to witness high growth during the forecast period. This can be attributed to the increasing government interest in biomedical and biotechnology industries, outsourcing of clinical research activities to China, involvement of industry players in the Japanese market, growing pharmaceutical industry in India backed by government initiatives to drive market growth, and initiatives by non-profit organizations.
The molecular biology enzymes and kits & reagents market is well established owing to the dominance by prominent market players. In 2016, Thermo Fisher (US), Merck (Germany), and Illumina (US) held a share of 70% to 75% of the overall market.
The key players in the global molecular biology enzymes and kits & reagents market are 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), and Molecular Biology Resources (US).
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