North America Molecular Biology Enzymes, Kits, and Reagents Market
No. of Pages: 163 | Report Code: TIPRE00025773 | Category: Life Sciences
No. of Pages: 163 | Report Code: TIPRE00025773 | Category: Life Sciences
North America is the largest market for molecular biology enzymes, kits & reagents, with the US holding the largest market share, followed by Canada. The growth in North America is characterized by increasing incidence of cancer, established key market players, and extensive R&D conducted by various academic and research institutes. Additionally, increasing incidence of COVID-19 support the growth of the market during forecast period. The increasing investments and rising funds dedicated to the manufacturing companies as well as academic and research institutes for the development of cancer medicines, growing geriatric population, infectious disease, and other therapeutics is one of the major driving factors.
The COVID-19 pandemic had shown a favorable scenario for players operating in the molecular biology enzymes, kits & reagents market. The US was a highly affected country in North American. The effect of COVID-19 is adverse in geriatric people. The infection of COVID-19 among older people has resulted in severe complications and has accounted for many deaths in the country. During the pandemic, life sciences companies were engaged in developing novel drugs to treat life-threatening diseases. Therefore, molecular biology enzymes, kits & reagents products are required in drug design & development and COVID-19 diagnosis.
Furthermore, the rising number of COVID-19 cases has had a positive impact on the molecular biology enzymes, kits & reagents market. In March 2021, Eurofins' Clinical Enterprise, Inc. obtained an Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA) for a direct-to-consumer (DTC) version of its EmpowerDX COVID-19 Home Collection Kit. The Eurofins at-home COVID-19 nasal PCR kit is one of the first over-the-counter SARS-CoV-2 at-home test kits approved by the European Union. Thus, the rising number of product launches supports the growth of the market. Similarly, in July 2020, Eurofins U.S. Clinical Diagnostics announced the availability of its pooled PCR test to detect SARS-CoV-2, which would substantially lower the cost per PCR test for clients.
Strategic insights for the North America 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$ 5,532.13 Million |
| Market Size by 2028 | US$ 17,999.75 Million |
| Global CAGR (2021 - 2028) | 18.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 5,532.13 million in 2021 to US$ 17,999.75 million by 2028; it is estimated to grow at a CAGR of 18.4% from 2021 to 2028. According to the WHO suggestions, 30–50% of deaths caused due to cancer can be prevented by adequate treatment in early stages. In this scenario, personalized medicine offers the most promising approach to tackle diseases that have not been well-known for responding effectively to the existing treatments or cures. As per a study published in the PMC, personalized medicines accounted for only 5% of the new FDA-approved molecular entities in 2005, whereas they accounted for more than 25% of the same in 2016. Additionally, 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to be personalized medicines. Moreover, biopharmaceutical companies have nearly doubled their R&D investments in personalized drugs in the past five years, and they are expected to increase by 33% in the next five years. Biopharmaceutical researchers also predict a 69% increase in the number of personalized medicines in development in the coming five years.
North America 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 North America molecular biology enzymes, kits, and reagents market is segmented into US, Canada, and Mexico. US 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 North America 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; Rockland Immunochemicals Inc; and THERMO FISHER SCIENTIFIC INC.
The North America Molecular Biology Enzymes, Kits, and Reagents Market is valued at US$ 5,532.13 Million in 2021, it is projected to reach US$ 17,999.75 Million by 2028.
As per our report North America Molecular Biology Enzymes, Kits, and Reagents Market, the market size is valued at US$ 5,532.13 Million in 2021, projecting it to reach US$ 17,999.75 Million by 2028. This translates to a CAGR of approximately 18.4% during the forecast period.
The North America 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 North America Molecular Biology Enzymes, Kits, and Reagents Market report:
The North America 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 North America Molecular Biology Enzymes, Kits, and Reagents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Molecular Biology Enzymes, Kits, and Reagents Market value chain can benefit from the information contained in a comprehensive market report.
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