Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market
APAC is one of the fastest growing market for molecular biology enzymes, kits & reagents market. China, India and Japan are three major contributors to the growth of the market which is driven by increasing investments by the governments of the respective countries in the region. The rise in the development and research for the genomics and the rise in the programs for the genomics are expected to drive the molecular biology enzymes, kits & reagents market in the forecast period. In addition, the initiatives by the government of India for the startups in biotechnology sectors are likely to foster the growth of the molecular biology enzymes, kits & reagents market in the country.
The COVID-19 pandemic started in China, and it has affected various Asian countries such as India, South Korea, Australia, Malaysia, and Singapore. Countries in APAC are facing challenges due to the increasing incidence of COVID-19. Currently, India is the second worse hit country worldwide. Many measures have been implemented to contain the spread of COVID-19, resulting in significant operational disruption for many companies, including the healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Rising prevalence of COVID-19 and increasing product launches of PCR tests for detection of COVID-19 are anticipated to support the market's growth during the forecast period. In April 2021, Fujita Health University in Toyoake started using a fully automated COVID-19 testing system from Kawasaki Heavy Industries Ltd. The machine conducts a polymerase chain reaction (PCR) test to reduce the risk of infection for technicians. Therefore, the COVID-19 pandemic is estimated to positively impact the molecular biology enzymes, kits & reagents market.
Strategic insights for the Asia Pacific Molecular Biology Enzymes, Kits, and Reagents provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,445.67 Million |
| Market Size by 2028 | US$ 7,809.89 Million |
| Global CAGR (2021 - 2028) | 18.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Molecular Biology Enzymes, Kits, and Reagents refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The molecular biology enzymes, kits, and reagents market in APAC is expected to grow from US$ 2,445.67 million in 2021 to US$ 7,809.89 million by 2028; it is estimated to grow at a CAGR of 18.0% from 2021 to 2028. The growth of APAC molecular biology enzymes, kits & reagents market is prominently attributed to the increasing investments for life science projects, focus on adoption and expansion of personalized medicines, and implementation of strategic sales strategies of market players in the region. In April 2020, MedGenome announced its plan to expand its infrastructure in South Asia. The company invested around US$ 55.0 Mn which will increase the access of genomic studies and research for considerable population in South Asia. In addition, the organizations in the region are also focusing on promoting educational and awareness programs for molecular biology, which is further expected to offer lucrative opportunity for market growth. For instance, in September 2019, Organization for Women in Science for the Developing World announced a regional workshop to discuss recent trends and opportunities in the field of molecular biology. In addition, in April 2021, the Thailand Board of Investment approved new biotechnology products to meet the demand of healthcare in the country. The cost of four new project is around US$ 78.0 million. Such developments are projected to have constructive impact on the market growth.
APAC molecular biology enzymes, kits, and reagents market is segmented into product, application, end user, and country. Based on product, the molecular biology enzymes, kits, and reagents market is bifurcated into enzymes and kits & reagents. The market, by enzymes, is further segmented into polymerases, ligases, reverse transcriptases, phosphatases, proteases and proteinases, restriction endonuclease, and other. The kits & reagent segment held a larger market share in 2020. The molecular biology enzymes, kits, and reagents market, based on application, is segmented into epigenetics, sequencing, synthetic biology, polymerase chain reaction, and other. In 2020, the sequencing segment held the largest market share. In terms of end user, the molecular biology enzymes, kits, and reagents market is segmented into biotechnological and pharmaceutical companies, hospitals and diagnostic centers, and academic and research institutes. The biotechnological and pharmaceutical companies segment held the largest share of the market in 2020. Based on country, the APAC molecular biology enzymes, kits, and reagents market is segmented into Australia, China, India, Japan, South Korea, and rest of Europe. China held the largest market share in 2020.
A few major primary and secondary sources referred to for preparing this report on the molecular biology enzymes, kits, and reagents market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Agilent Technologies, Inc.; F. HOFFMANN-LA ROCHE LTD; Illumina, Inc.; Merck KGAA; MERIDIAN BIOSCIENCE, INC; Promega Corporation; Qiagen; and THERMO FISHER SCIENTIFIC INC.
The Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market is valued at US$ 2,445.67 Million in 2021, it is projected to reach US$ 7,809.89 Million by 2028.
As per our report Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market, the market size is valued at US$ 2,445.67 Million in 2021, projecting it to reach US$ 7,809.89 Million by 2028. This translates to a CAGR of approximately 18.0% during the forecast period.
The Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market report:
The Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Molecular Biology Enzymes, Kits, and Reagents Market value chain can benefit from the information contained in a comprehensive market report.
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