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Restriction Endonucleases Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 150 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5529456
The Restriction Endonucleases Market is expected to register a CAGR of nearly 4.3% over the forecast period.

COVID-19 significantly impacted the restriction endonucleases market owing to the high burden of RT-PCR for diagnostic tests and research studies worldwide. For instance, as per the Africa Centre for Disease Control and Prevention Dashboard accessed in December 2022, there were 124.0 million tests performed for COVID detection in the African region, including Egypt, Kenya, South Africa, Libya, and other countries from the start of the pandemic till November 23, 2022. Since various restriction endonucleases such as Escherichia coli RY13-I (EcoRI) are used in the polymerase chain reaction, thereby the market was at its peak during the pandemic. The market reported a slight decline as the COVID-19 cases seized in the last two years. However, with the rising research studies using genetic engineering and genome sequencing, the market is expected to show stable growth during the forecast period.

In addition, the rising use of restriction endonucleases in various applications such as genetic engineering and gene sequencing used for research or treatment purposes and increasing expenditure on research and development by biotechnology and pharmaceutical companies are actively affecting the growth of the studied market.

As per an article published by the National Center of Biotechnology Information (NCBI) in April 2021, restriction endonucleases are an essential tool in recombinant DNA technology. As per another article published in HHS Author Manuscripts in January 2021, coronavirus genome sequencing was done using restriction endonucleases. The SARS-CoV-2 plasmids were amplified in E. coli and sequentially ligated the following digestion with type II restriction enzymes to remove the plasmid backbone. Hence, the use of restriction endonucleases enzymes in various applications, like cloning, sequencing, and restriction digestion, is the major factor attributing to the market's growth during the forecast period.

Furthermore, the increased funding and investment by biotechnology, pharmaceutical companies, and government organizations for research and innovation in the field of genomics is estimated to propel market growth. For instance, according to the National Institutes of Health, National Human Genome Research Institute (NHGRI) 2022 report, the FY 2022 United States President’s Budget request is USD 633.0 million, an increase of USD 17.0 million compared with the FY 2021 enacted level. This increase is distributed across all programmatic areas and basic, epidemiology, and clinical research across genomics. To improve human health, NHGRI interacts with a variety of groups, performs and funds genomics research, and educates the next generation of genomics specialists. The huge investment by the NHGRI in the genomics study is expected to utilize a large amount of restriction enzymes during the research, which is expected to propel the market growth during the forecast period.

Also, in September 2022, WhiteLab Genomics raised USD 10 million for an AI-powered genomic therapies platform. The investment is intended to revolutionize the creation of genetic therapies. The company supports its clients to enable them to quickly develop target vectors and payloads and bring genomic-based therapies to market at a faster pace. Hence, the funding and investments are estimated to create opportunities for expansion and innovation in the field of genetic engineering, DNA mapping, and gene sequencing using the restriction endonucleases, which further propels the market growth.

Therefore, owing to the factors such as the utility of restriction endonucleases in various research applications and funding and investment by pharmaceutical and biotechnology companies, the studied market is anticipated to witness growth over the analysis period. However, the high cost of restriction enzyme production is likely to impede market growth.

Restriction Endonucleases Market Trends

Genetic Engineering is Expected to Hold a Significant Market Share Over The Forecast Period.

The practice of genetic engineering involves changing the DNA sequence in genomes using several methods and molecular biology techniques. The molecular biology tools such as restriction enzymes, DNA sequencing, and DNA cloning help scientists quickly turn to experiments to change chromosomal DNA in cells and animals.

The factors propelling the segment growth are increasing investments in research and development by biotechnology and pharmaceutical companies to develop various gene therapies for diseases such as cancer, cystic fibrosis, hemophilia, AIDS, and other conditions.

According to the Engineering Biology Leadership Council report published in June 2022, the United Kingdom government has invested strongly in supporting basic research and early translation for transformative products of Engineering Biology (EB). The same source reported that within the next 5 to 10 years, engineering biology has the potential to revolutionize the chemical and material (industrial biotechnology), food and agriculture, and health-related development sectors. By 2030-2040, engineering biology is predicted to unleash an estimated USD 2-4 trillion in annual direct global economic impact. Hence the increased support from the government is expected to drive the segment growth over the forecast period.

Furthermore, the rising investments and funding by a governmental organization in the field of genetic engineering are expected to propel market growth. For instance, in September 2021, the Nanocapsule gene editing system received a new grant of USD 2.3 million from the National Institutes of Health (NIH) to advance the development of a novel nonviral delivery system after it has demonstrated the effectiveness and efficiency of its gene editing capabilities. The project will use restriction endonucleases for cutting DNA at specific sites during the entire research procedure. The project is a part of NIH's somatic cell genome editing program in collaboration with UW-Madison and, the Grainger Institute, the Wisconsin National Primate Research Center (WNPRC). The funding and rising research initiatives in genetic engineering utilizing the restriction endonucleases to develop therapies for genetic diseases are estimated to propel the segment growth during the forecast period.

North America is Expected to Hold a Significant Market Share Over The Forecast Period

North America is expected to hold a significant share in the restriction endonucleases market owing to factors such as the presence of key players, high investments, and growing research and development programs in the region's biotechnology and pharmaceuticals field. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth.

Restriction enzymes are useful tools for scientific research, such as genetics research which contributes to market growth. For instance, according to NIH, Estimates of Funding for Various Research, Condition, and Disease Categories (RCDC), 2022 update, the research spending in the United States on genetics projects was USD 10,544 million in 2020 and USD 11,010 million in 2021. The same source reported an estimated spending of USD 11,480 million in 2022. The rising spending on genetics research projects in the region is expected to utilize restriction endonucleases to develop therapies for genetic disease treatment.

The investments by the government in biotechnology research are increasing in Canada. In March 2022, the Minister of Innovation, Science and Industry invested USD 92 million in adware BioInnovations to drive company innovation and training activities in Canada’s life sciences sector. This investment will help translate commercially promising health research into innovative new therapies and will drive the growth of Canada’s biotechnology companies. Thus, such huge investments by the government are further expected to create opportunities for restriction endonucleases which is expected to fuel market growth.

Also, in March 2022, Colossal secured USD 60 million Series A Funding to advance genetic engineering and de-extinction technologies. The funding obtained will be utilized to enhance the application of genetics in human healthcare and the preservation of species. The rising developments are estimated to augment the market growth in the region during the forecast period.

Restriction Endonucleases Market Competitor Analysis

The Restriction Endonucleases Market is moderately competitive and consists of several major players. Some companies currently dominating the market are Agilent Technologies, Thermo Fisher Scientific, Illumina Inc., New England Biolabs, Merck KGaA, Promega Corporation, Takara Bio Inc., QIAGEN NV, GenScript, and TransGen Biotech Co., Ltd.

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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 Use of Restriction Endonucleases in Various Applications
4.2.2 Increasing Expenditure on Research and Development by Biotechnology and Pharmaceutical Companies.
4.3 Market Restraints
4.3.1 High Cost Restriction Endonucleases Production
4.4 Porter's Five Force 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 - USD million)
5.1 By Type
5.1.1 Type I
5.1.2 Type II
5.1.3 Type III
5.1.4 Other Types
5.2 By Application
5.2.1 Genetic Engineering
5.2.2 DNA Mapping
5.2.3 Gene Sequencing
5.2.4 Other Applications
5.3 By End User
5.3.1 Pharmaceutical and Biotechnology Companies
5.3.2 Academic Research Institutes
5.3.3 Other End Users
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 & 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 Thermo Fisher Scientific
6.1.3 Illumina Inc.
6.1.4 New England Biolabs
6.1.5 Merck KGaA
6.1.6 Promega Corporation
6.1.7 Takara Bio Inc.
6.1.9 GenScript
6.1.10 TransGen Biotech Co. Ltd.

Companies Mentioned (Partial List)

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

  • Agilent Technologies
  • Thermo Fisher Scientific
  • Illumina Inc.
  • New England Biolabs
  • Merck KGaA
  • Promega Corporation
  • Takara Bio Inc.
  • GenScript
  • TransGen Biotech Co., Ltd.