Reporter Gene Assay Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)

The reporter gene assay market is projected to register a CAGR of 10% during the forecast period (2022-2027).

Amidst the COVID-19, the reporter gene assay market is expected to grow owing to the rising cases of COVID-19 among people across the globe owing to the rising demand for vaccine and treatment drugs. The increase in the need for the development of vaccination of COVID-19 infected patients and diagnosis of people is projected to create lucrative opportunities for the reporter gene assay market. Also, the increasing research on the COVID-19 virus in order to study the nucleic acid structure to produce suitable vaccine candidates led to the increasing demand for the reporter gene assay market.

The growing preference for cell-based assays is one of the major driving factors for the growth of the reporter gene assay market. This is due to the increasing usage of reported gene assays in life science research and biomanufacturing. The increasing demand for reporter gene assays is due to their extensive usage in in vitro studies. The reporter gene assays are a crucial experimental tool to study the biochemistry and physiology of both healthy and disease cells. Thus, the reporter gene assays gained much attention in studying emerging infectious viruses and developing drug therapies. The increasing prevalence of chronic genetic disorders and infectious diseases among the population led to the increasing demand for reporter gene assays owing to the cell-based applications in drug discovery. According to a World Health Organization report in 2022, chronic diseases such as cancer are a leading cause of death worldwide, accounting for near deaths in 2020 or nearly one in six deaths. The National Human Genome research Institute report in 2020 stated that more than 6,800 rare diseases, altogether rare diseases affect an estimated 25 to 30 million Americans. Therefore, the increasing incidences of rare and genetic disorders coupled with increasing demand for early diagnosis and effective treatment processes are expected to boost the growth of the market

Key Market Trends

The Assay Kits Segment is Expected to Hold a Major Market Share in the Reporter Gene Assay Market Market.

The sudden outbreak of COVID-19 had increased the demand for reporter gene assay owing to its efficiency in studying the gene expression of the unknown virus to produce suitable vaccination.

The assays kits segment is expected to register with significant revenue in the forecast period. The assay kits mostly used are Flourescent protein-related assay kits, secreted alkaline phosphate(SEAP) assay kits, Luciferase assay kits, Beta-galactosidase assay kits, and Others. This is attributed to their increased usage in expression studies and signaling pathway analysis during gene transcription or translation levels. Also, the extensive usage of assays enables precise signal measurement, maintaining the consistency of the outcomes. In addition, these are convenient, fast, sensitive, and display a broad linear for detection. Moreover, the rising focus of researchers on establishing high-throughput assays pertaining to beta-galactosidase for reporter systems based on bacterial cells contributes to the fastest growth rate of the assay kits segments. Cell-based assays are increasingly being used in pharmaceutical product testing. This huge surge of demand for the assay kits segment is expected to people the market's growth.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.

The United States is likely to command the global market owing to the technological innovations in the diagnostic and reporter gene assay devices used for disease testing. The region will retain its dominant position over the forecast years on account of investments of the biotechnology companies and health care facilities to accelerate the development of gene therapies. For instance, in August 2019, Pfizer, inc. invested USD 500 million to expand its manufacturing plant for gene therapy medicines in Sanford, United States. Also, several programs driven by academic and research institutes in molecular imaging are expected to accelerate the demand for reporter gene assays used for molecular imaging. According to the IQVIA institute of Global trends, in the United States, emerging biopharma companies originated and launched 40% of all new drugs in 2020, a significant increase compared with five to 10 years ago. Therefore, such a rapid increase in the production of new drugs and their product pipeline may result in an increase in the demand for reporter gene assays, further driving the market growth in this region. The region's largest share is also due to the presence of major market players and quick adaption to Technologically advanced diagnostics.

Competitive Landscape

The Reporter Gene Assay Market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some companies currently dominating the market are Thermo Fisher Scientific, Puritan Medical Products, Trinity Biotech, Medical Wire & Equipment, Vircell, Quidel Corporation, BD, Titan Biotech Limited, Copan Diagnostics, EKF diagnostics, Hardy Diagnostics, Pretium Packaging, and others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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