Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market
No. of Pages: 167 | Report Code: TIPRE00025776 | Category: Life Sciences
No. of Pages: 167 | Report Code: TIPRE00025776 | Category: Life Sciences
The MEA consists of three major countries, namely United Arab Emirates (UAE), Saudi Arabia, and South Africa. Saudi Arabia is the largest market for molecular biology enzymes, kits & reagents owing to the rising pharmaceutical and biotech industry. Also, the market is driven by extensive research projects undertaken by a number of research institutes in Saudi Arabia. In addition, the developments in the healthcare facilities centers in South Africa are likely to boost the market for the molecular biology enzymes, kits & reagents during the forecast period. The countries considered for the rest of the MEA region are Oman, Israel, Turkey, Syria. Nigeria, Ethiopia, Egypt, and Kenya. The countries are significantly increasing investments for the healthcare industry's development and have widened up opportunities for the private sector. For instance, according to Alpen Capital's report, Oman has invested US$ 1.5 billion in establishing a healthcare facility center named Sultan Qaboos Medical City Complex in Barka. The project is expected to complete in 2021. The Ministry of Health, Muscat National Development and Investment Company support the investment. Such investments are likely to encourage more investors and enhance growth opportunities during the forecast period.
Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and cannot implement any public health measures. Iran was in a deep economic recession due to the US sanctions. Also, the major source of economic stabilization in the Middle East countries is oil production and export. However, the recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage are major impacts observed in the region. The Saudi government policies favor domestic pharmaceutical manufacturers, including no import duties on raw materials & intermediate products and interest-free funding, thus supporting the growth of the pharmaceutical market in this region. Similarly, the increasing incidence of COVID-19 is creating a massive demand for kits and reagents used to detect the COVID-19 virus. In April 2020, BGI Group, a Chinese genomics company, and Group-42, a UAE technology company, unveiled a new massive-throughput laboratory in the UAE to help with testing and diagnosis of the novel coronavirus. According to BGI, the lab will use RT-PCR diagnostic kits that have been approved by medical regulatory authorities in China, Europe, the US, and Japan. As molecular biology enzymes, kits, and reagents are majorly used in the detection of a novel coronavirus, so there was a high impact of COVID-19 on the molecular biology enzymes, kits & reagents market.
Strategic insights for the Middle East and Africa 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$ 537.68 Million |
| Market Size by 2028 | US$ 1,566.09 Million |
| Global CAGR (2021 - 2028) | 16.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa 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 MEA is expected to grow from US$ 537.68 million in 2021 to US$ 1,566.09 million by 2028; it is estimated to grow at a CAGR of 16.5% from 2021 to 2028. The cost and time required for whole human genome sequencing have lowered significantly since 2000. The results can be accessed on laptops or personal computers, using a USB stick, and they can further be shared easily via the internet. This transformation in the genetic sequencing procedure promises a revolution to introduce more personalized and effective healthcare. Further, digitization is enabling doctors to make decisions about a patient’s cancer treatment, based on the genetic make-up of tumors or cancerous tissues. These advancements are making precision medicine a reality by enabling the development of highly targeted therapies that offer the potential for improved treatment outcomes, especially for patients battling cancer. Personalized medicine considers genetic, environmental, and lifestyle variability.
MEA 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 MEA molecular biology enzymes, kits, and reagents market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. Rest of MEA 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 MEA 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 Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market is valued at US$ 537.68 Million in 2021, it is projected to reach US$ 1,566.09 Million by 2028.
As per our report Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market, the market size is valued at US$ 537.68 Million in 2021, projecting it to reach US$ 1,566.09 Million by 2028. This translates to a CAGR of approximately 16.5% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market report:
The Middle East and Africa 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 Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market value chain can benefit from the information contained in a comprehensive market report.
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