Thermo Fisher (US) and Illumina (US) are Molecular Biology Enzymes and Kits & Reagents Market

PUNE, India, 2021-Jun-11 — /EPR Network/ —

Expected Revenue Growth:

The global molecular biology enzymes and kits & reagents market is projected to USD 29.7 billion by 2026 from USD 15.3 billion in 2021, at a CAGR of 14.2% during the forecast period.

Major Growth Boosting Factors:

Growth in the molecular biology enzymes and kits & reagents market is driven by factors such as increased research activities and R&D investments in the life science industry, rising number of genome projects, technological advancements in the life science industry, and rising incidence of genetic disorders.

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Global Leaders:

The global molecular biology enzymes and kits & reagents market is highly consolidated. Key players in the molecular biology enzymes and kits & reagents market include Thermo Fisher (US), Merck (Germany), Illumina (US), QIAGEN (Netherlands), New England Biolabs (US), Promega (US), Agilent (US), Roche (Switzerland), Takara Bio (Japan), Bio Basic (Canada), Jena Bioscience (Germany), Molecular Biology Resources (US), Bio-Rad Laboratories, Inc. (US). The key players in this market are increasingly focusing on strategic expansions, partnerships, and product approvals to expand their manufacturing capabilities and increase market presence.

Thermo Fisher Scientific offers a complete and integrated portfolio of solutions and services for laboratory research and analysis, healthcare, and clinical science. The Biosciences segment offers reagents, instruments, and consumables for molecular biology; protein biology; and cell imaging and analysis. These products are primarily used in agriculture, forensics, diagnostics product development, and toxicology research. The company operates in countries across North America, Europe, Asia, and Latin America.

Illumina is a molecular diagnostics company that develops, manufactures, and markets integrated systems for the analysis of genetic variations and biological functions. The company caters to a broad range of academic, government, pharmaceutical, biotechnology, and other leading genomic research centers by offering products for the research, clinical, and applied markets. As of January 16, 2020, the company had 799 US patents and 617 pending US patent applications along with 61 allowed applications not issued as a patent. Illumina has corporate offices in China, Japan, Singapore, the UK, Latin America, Australia, New Zealand, and the Netherlands.

The Asia Pacific region is the fastest-growing region of the molecular biology enzymes and kits & reagents market in 2020.

The market in the APAC is expected to grow at the highest rate during the forecast period. Growth in the APAC market is driven by increasing government interest in the biomedical & biotechnology industries, the presence of bio-clusters in India and China, and the growing outsourcing of clinical research activities to Asian countries.

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