Dublin, May 24, 2021 (GLOBE NEWSWIRE) -- The "Molecular Biology Enzymes, Kits, and Reagents Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
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.
The cost of genome sequencing, as well as next-generation sequencing, has dropped radically in the past 6-7 years. For instance, the whole human genome sequencing cost was ~US$ 3.7 billion in 2000, and the process took more than a decade for the completion. However, the costs of this process dropped down to US$ 10 million in 2006 and US$ 5,000 in 2012; it has further reduced to US$ 1,000 in recent years.
Moreover, the process requires a lesser number of days for completion. In 2003, the International Human Genome Sequencing Consortium started the genome analysis by sequencing a complete human genome. The sequencing cost was ~US$ 2.6 billion (EUR 2.3 billion). By 2008, costs dropped to lower than US$ 1.4 million (EUR 1 billion) per genome.
However, now, it costs US$ 400-500 to sequence an exome and US$ 1,000-1,200 to sequence a genome. The decline in the cost can be checked by the cost to sequence a genome diverging drastically around 2008, falling from approximately US$ 10 million to nearly US$ 1,000 at the present date. Lowering costs and accelerating the overall process would enable service providers to secure larger profit margins, along with helping them expand their clientele.
The latest machines offered by Illumina are a lower priced and are available in two models - NovaSeq 5000 priced at US$ 850,000 and NovaSeq 6000 priced at US$ 985,000. DNA sequencing company, Illumina introduced its first machine for the human genome sequencing for US$ 300,000 in 2006, and in 2014, it unveiled the machine at a cost reduced to US$ 1,000. Thus, the lowered cost of genome sequencing is propelling the number of molecular biology procedures carried out for different purpose, thereby driving the use of enzymes, kits, and reagents.
The molecular biology enzymes, kits, and reagents market is witnessing substantial growth amid 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 coming years.
Key Topics Covered:
2. Molecular Biology Enzymes, Kits & Reagents Market - Key Takeaways
3. Research Methodology
4. Global Molecular Biology Enzymes, Kits & Reagents Market - Market Landscape
4.1 PEST Analysis
4.2 Expert Opinion
5. Molecular Biology Enzymes, Kits & Reagents Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Healthy Funding for Genomics
5.1.2 Declining Cost of Sequencing Procedures
5.1.3 Increasing Prevalence of Chronic Diseases
5.2 Market Restraints
5.2.1 Dearth of Skilled Professionals
5.3 Market Opportunities
5.3.1 Rise in Adoption of Molecular Diagnostics
5.4 Future Trends
5.4.1 Burgeoning Demand for Personalized Medicines
5.5 Impact analysis
6. Molecular Biology Enzymes, Kits & Reagents Market - Global Analysis
6.1 Global Molecular Biology Enzymes, Kits & Reagents Market Revenue Forecast and Analysis
6.2 Global Molecular Biology Enzymes, Kits & Reagents Market, By Geography - Forecast And Analysis
6.3 Market Positioning of Key Players
7. Molecular Biology Enzymes, Kits & Reagents Market Analysis - By Product
7.2 Molecular Biology Enzymes, Kits & Reagents Market Revenue Share, by Product (2020 and 2028)
7.3.2 Enzymes: Molecular Biology Enzymes, Kits & Reagents Market - Revenue and Forecast to 2028 (US$ Million)
7.3.5 Reverse Transcriptases
7.3.7 Proteases and Proteinases
7.3.8 Restriction Endonuclease
7.4 Kits and Reagents
8. Molecular Biology Enzymes, Kits & Reagents Market Analysis - By Application
8.2 Molecular Biology Enzymes, Kits & Reagents Market Revenue Share, by Application (2020 and 2028)
8.3 Polymerase Chain Reaction
8.5 Synthetic Biology
9. Molecular Biology Enzymes, Kits & Reagents Market - By End User
9.2 Molecular Biology Enzymes, Kits & Reagents Market, by End User, 2020 and 2028 (%)
9.3 Biotechnological and Pharmaceutical Companies
9.4 Hospitals and Diagnostic Centers
9.5 Academic and Research Institutes
10. Molecular Biology Enzymes, Kits & Reagents Market - Geographical Analysis
11. Impact of COVID-19 Pandemic on Global Molecular Biology Enzymes, Kits & Reagents Market
12. Molecular Biology Enzymes, Kits & Reagents Market -Industry Landscape
12.2 Growth Strategies In The Molecular Biology Enzymes, Kits & Reagents Devices Market, 2018-2021
12.3 Organic Growth Strategies
12.4 Inorganic Growth Strategies
13. Company Profiles
Thermo Scientific Fishcer
Agilent Technologies, Inc.
F. Hoffmann-La Roche Lltd
Jena Bioscience GmbH
Rockland Immunochemicals Inc
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