Sequencing Segment to Drive Molecular Biology Enzymes, Kits, and Reagents Market

According to our new research study on "Molecular Biology Enzymes, Kits & Reagents Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, and End User," the market is expected to reach US$ 41,104.71 million by 2028 from US$ 10,987.17 million in 2020; it is estimated to grow at a CAGR of 17.8% from 2021 to 2028. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the market is attributed to a few key driving factors such as healthy funding for genomics, declining cost of sequencing procedures, and increasing prevalence of chronic diseases. However, the dearth of skilled professionals hinders the market growth.

Biological enzymes play a prominent role in encouraging chemical reactions in biological systems. Molecular biology enzymes are recommended for the preparation of laboratory samples. These reagents are also utilized during various processes such as polymerase chain reaction (PCR), DNA sequencing, and cell analysis. Rising investments in the life science industry are prominently driving the growth of the molecular biology enzymes, kits, and reagents market.

Based on application, the molecular biology enzymes, kits, and reagents market is segmented into epigenetics, sequencing, synthetic biology, polymerase chain reaction, cloning, and other. In 2020, the sequencing segment held the largest share of the market. However, the polymerase chain reaction segment is estimated to register the highest CAGR of 18.9% during the forecast period.

The molecular biology enzymes, kits, and reagents market is witnessing substantial growth amid the COVID-19 pandemic. The majority of the healthcare research organizations, market players, and academic centers are actively engaged in the research and development activities to develop new vaccines and therapeutic platforms for novel coronavirus that causes COVID-19. This extensive rise in research and development activities is expected to boost the demand for molecular biology kits and reagents, which, in turn, would drive the growth of the molecular biology enzymes, kits, and reagents market in the coming years.

THERMO FISHER SCIENTIFIC INC.; Illumina, Inc.; Qiagen; Agilent Technologies, Inc.; F. HOFFMANN-LA ROCHE LTD; Merck KGAA; Jena Bioscience GmbH; Bioline Technologies; Promega Corporation; and Rockland Immunochemicals Inc are among the leading companies operating in the molecular biology enzymes, kits, and reagents market.

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