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Molecular Biology Enzymes, Kits and Reagents Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 110 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4622752
The Molecular Biology Enzymes, Kits, and Reagents Market is poised to grow at a CAGR of 10.5% during the forecast period.

The emergence of the COVID-19 pandemic has had an adverse effect on the world economy and the healthcare system. The lockdown all over the globe has affected the supply chain of pharmaceuticals, medical devices, and biotechnological products. There is a significant impact on the studied market due to the increasing demand for clinical diagnostics. For instance, according to an article published in the Antibiotics journal, in March 2022, titled” The Impact of Multiplex PCR in Diagnosing and Managing Bacterial Infections in COVID-19 Patients Self-Medicated with Antibiotics”, multiplex PCR, a powerful and efficient tool, is used to diagnose SARS-CoV-2 infections and that has applications for bacterial identification, as well as determining bacterial resistance to antibiotics. Due to the increasing number of COVID-19 cases, the pharmaceutical and biotechnology companies are focusing on developing RT-PCR kits and assays for detecting coronavirus in patients which is expected to increase the demand for molecular biology enzymes, kits and reagents. For instance, BioGenexlaunches a direct RT-PCR kit that detects all variants of COVID-19 including Omicron double-quick, in the United States. The kit detects the Omicron without RNA extraction in half time than standard PCR. Thus, COVID-19 has impacted the market growth.

Certain factors that are propelling the market growth are the rising incidence of infectious diseases and genetic disorders, increasing research and development activities in the life science industry, and growing technology advancements.

The rising burden of infectious diseases and genetic disorders is the key factor driving the market growth. For instance, according to a survey conducted by the World Health Organization, between 24th January 2022 to 06th February 2022, approximately 12,368 individuals were positive for influenza viruses, of which 8,423 (68.1%) were typed as influenza A and 3,945 (31.9%) as influenza B. Of sub-typed influenza, A viruses, 171 (6.4%) were influenza A (H1N1) pdm09 and 2,483 (93.6%) were influenza A (H3N2). Thus, with the high prevalence of the different types of influenza globally, more technologically advanced products are required, which may drive the market studied during the forecast period.

Additionally, according to the data published by the World Health Organization in the Global Tuberculosis Report 2021, most of the tuberculosis cases were found in the World Health Organization (WHO) regions of South-East Asia (43%), Africa (25%), and the Western Pacific (18%), and lesser numbers of tuberculosis cases were found in Eastern Mediterranean (8.3%), the Americas (3.0%) and Europe (2.3%). Similarly, according to the World Health Organization (WHO) data published in 2021, Sub-Saharan Africa is projected to endure the burden of malaria, accounting for approximately 95% of all malaria cases and 96% of all deaths in 2020. Thus, growing cases of infectious diseases are expected to increase the demand for molecular biology enzymes and kits for diagnosis and therapeutic purposes, thereby propelling market growth.

Similarly, as per the data published by Nationwide Children’s, in July 2021, more than 6,000 babies are born with down syndrome in the United States each year. Thus, the high number of babies born with down syndrome is expected to increase the demand for molecular biology kits and reagents, for testing purpose, which in turn is anticipated to propel the market growth.

Furthermore, the rising technological advancements are expected to increase market growth over the forecast period. For instance, in March 2022, Kaneka Corporation KANEKA RT-PCR Kit, SARS-CoV-2 (Omicron/Delta) ver.2, a real-time PCR test kit capable of simultaneously detecting the Omicron (BA.1), Stealth Omicron (BA.2), and Delta variants of COVID-19. This test kit uses a proprietary reagent developed using Kaneka's molecular testing-related technologies to detect the presence of three variants with a single PCR test. Also, in November 2021, Genes2Me launched a molecular biology product range to accelerate and support bioscience research under the ‘Made in India’ initiative. The newly launched range includes enzyme technology, cloning, next-generation sequencing, and polymerase chain reaction among other product categories.

However, the high costs and limited reimbursement for genetic testing are expected to restrain the market growth over the forecast period.

Molecular Biology Enzymes Kits & Reagents Market Trends

Sequencing Segment Expects to Register a High CAGR in the Molecular Biology Enzymes, Kits and Reagents Market Over the Forecast Period

The sequencing segment is expected to witness significant growth in the molecular biology enzymes, kits, and reagents market over the forecast period owing to the rising incidences of cancer, increasing clinical applications of sequencing, growing preference for personalized medicine and technology advancements as well as increasing demand for next-generation sequencing techniques.

Next-Generation sequencing is a technology that is used to determine the sequence of DNA or RNA to study the genetic variations associated with the disease. It is also called massively parallel sequencing as it enables the sequencing to determine the sequencing of many DNA at a particular time.

In addition, the rising burden of cancer among the population is expected to increase the demand for next-generation sequencing that helps clinicians to test many genes of cancer simultaneously and to identify novel or rare cancer mutations. For instance, according to World Health Organization, 2022, an estimated 604,000 new cases of cervical cancer occurred in 2020, worldwide. Additionally, according to the American Cancer Society, an estimated 36,000 new cancer cases occurred in Wisconsin in 2021. Similarly, according to the GLOBOCAN 2020 fact sheet, 415,269 new cancer cases were diagnosed in Italy in 2020, while the number of prevalent cases (5 years) of cancer was 1,230,693 in 2020. The most common cancers in Italy are lung cancer, prostate cancer, bladder cancer, colorectum cancer, and stomach cancer.

Furthermore, the fast emergence of next-generation sequencing technology has revolutionized the field of genomics and medical diagnosis and has changed the traditional model of a gene-by-gene approach to syndrome-based panel sequencing, diagnostic exome sequencing (DES), and diagnostic genome sequencing (DGS), and precision model.

Moreover, the rising company activities in developing molecular biology kits, assays, and products, and launching products are also expected to fuel the market growth over the forecast period. For instance, in March 2022, Illumina launched TruSight Oncology’s (TSO) comprehensive in-vitro genomic profiling kit that assesses multiple genes and biomarkers to reveal the specific molecular profile of a cancer patient in Europe. This will help the clinicians to provide specific therapy to a patient according to the molecular profile. Also, in March 2022, the University of Mississippi Medical Center has set up clinical next-generation sequencing (NGS) machine, a first-in-the-state resource. It allows physicians to assess the DNA sample from cancer patients faster and cost-efficient.

Thus, owing to the aforementioned factors, the market is expected to grow significantly during the forecast period.

North America is Expected to Dominate the Market Over the Forecast Period

North America is expected to hold a significant market share in the molecular biology enzymes, kits, and reagents market owing to the increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, rare diseases genetic disorders, and infectious diseases, rising healthcare spending, and increasing demand for personalized medicines, and technological advancement in the region.

The rising number of chronic diseases, infectious diseases, and genetic disorders is expected to increase the market growth. For instance, according to the 2022 statistics published by the American Cancer Society, an estimated 268,490 new prostate cancer cases and 34,500 deaths are expected to be diagnosed in the United States, in 2022. In addition, as per the same source, 1,414,259 people were diagnosed with prostate cancer in 2020. Also, according to the statistics published by the American Society of Clinical Oncology, in May 2022, an estimated 151,030 adults in the United States will be diagnosed with colorectal cancer, 2022. In addition, as per the same source, an estimated 1,880,725 people were diagnosed with colorectal cancer in 2020.

The advancement of precision medicine has provided specific strategies for targeted therapies and medicines for patients with cancer and Mendelian diseases which prove to be better than the traditional clinical practices. According to World Health Organization, 2020, it is estimated that 30% of the United States healthcare expenditure is intended for unnecessary or ineffective treatments.

In addition, the rising healthcare spending in the region is expected to increase the company’s activities in developing molecular biology products and is expected to propel market growth over the forecast period. For instance, according to the Organization for Economic Co-operation and Development (OECD), in June 2022, United States healthcare spending, 2021 was 17.8% of the total GDP of the country. Additionally, as per the data published by the Centers for Medicare & Medicaid Services, in March 2022, titled “CMS Office of the Actuary Releases 2021-2030 Projections of National Health Expenditures”, it has been observed that the annual growth in national health spending is expected to be average 5.1% over 2021-2030. In addition, the National Health Spending in 2020 was USD 4.1 trillion and it is projected to reach USD 6.8 trillion by 2030.

Furthermore, the rising government initiatives in the region are also contributing to market growth. For instance, in December 2021, the Centers for Disease Control and Prevention (CDC) awarded USD 22 million to nearly 30 organizations around the world to combat antimicrobial resistance (AR) and infectious diseases, and other healthcare threats through the establishment of two new networks - the Global Action in Healthcare Network (GAIHN) and the Global AR Laboratory and Response Network (Global AR Lab & Response Network). Thus, increasing investments and the establishment of a global network for supporting infectious disease diagnostics are expected to increase the demand for molecular enzymes, kits, and reagents, thereby propelling market growth. Also, according to the FACT SHEET: The Biden Administration’s Commitment to Global Health” published in February 2022, the United States President's Malaria Initiative contributed USD 770 million in 2020 to advance the fight against malaria, providing over 60 million people with malaria medications and protecting more than 7.5 million pregnant women with preventative malaria treatment.

Moreover, the growing company’s focus on research and development activities for developing technologically advanced products is also contributing to the market growth. For instance, in June 2022, PerkinElmer launched the BioQule NGS System, an automated benchtop solution for next-generation sequencing (NGS) library preparation of up to eight samples. Also, in June 2021, Thermo Fisher Scientific Inc. launched TaqPath, a new CE-IVD-marked fast PCR combo kit 2.0 to detect active SARS-CoV-2 infection. Similarly, in April 2020, Illumina made a software toolkit that is available free of cost to support the worldwide pandemic of COVID-19.

Thus, owing to the aforementioned factors, the market is expected to grow significantly during the forecast period.

Molecular Biology Enzymes Kits & Reagents Market Competitor Analysis

The molecular biology enzymes, kits, and reagents market are fairly competitive with the presence of a large number of players. The companies are focusing on adopting various business strategies such as product launches, gaining approvals, collaborations, and acquisitions to withhold their position in the market. Some of the players in the market are Agilent Technologies, Inc., F.Hoffmann-La Roche Ltd., Illumina, Inc., Lucigen Corporation, Merck KGaA, New England Biolabs, Promega Corporation, Qiagen NV, Takara Bio Inc., and Thermo Fisher Scientific.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Infectious Diseases and Genetic Disorders
4.2.2 Increasing R&D Activities in the Life Science Industry
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost and Limited Reimbursements for Genetic Testing
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value in USD million)
5.1 By Product
5.1.1 Enzymes
5.1.2 Kits and Reagents
5.2 By Application
5.2.1 Polymerase Chain Reaction
5.2.2 Sequencing
5.2.3 Epigenetics
5.2.4 Other Applications
5.3 By End Users
5.3.1 Hospitals and Diagnostic Centers
5.3.2 Academic and Research Institutes
5.3.3 Pharmaceutical and Biotechnology Companies
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Agilent Technologies
6.1.2 F. Hoffmann-La Roche Ltd
6.1.3 Illumina Inc.
6.1.4 Lucigen Corporation
6.1.5 Merck KGaA
6.1.6 New England Biolabs
6.1.7 Promega Corporation
6.1.8 Qiagen NV
6.1.9 Takara Bio Inc.
6.1.10 Thermo Fisher Scientific

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Agilent Technologies
  • F. Hoffmann-La Roche Ltd
  • Illumina Inc.
  • Lucigen Corporation
  • Merck KGaA
  • New England Biolabs
  • Promega Corporation
  • Qiagen NV
  • Takara Bio Inc.
  • Thermo Fisher Scientific