According to the research report titled ‘Global Molecular Biology Enzymes, Reagents and Kits Market Size study, by Product (Kits & Reagents, Enzymes), by Application (Cloning, Sequencing, PCR, Epigenetics, Others), by End-Use (Pharma & Biotech, Academic & Research, Hospital & Diagnostics) and Regional Forecasts 2020-2027’, available with Market Study Report, global molecular biology enzymes, reagents and kits market was remunerated at USD 12.7 billion in 2019 and is expected to record a 11% CAGR over the next seven years, recording a valuation of USD 29.3 billion by 2027.
 

Global molecular biology enzymes, reagents and kits market growth is stimulated by increasing number of new molecular kits and reagents to monitor the rising pervasiveness of genetic disorder as well as infectious diseases, along with technological advancements in life science sector. 
 

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Notably, molecular biology enzymes, reagents and kits are widely used across various fields such as research & development, diagnostic testing, life science research, and drug discovery. They are generally utilized for assessment of cell surface markers which functions as a diagnostic and/or therapeutic target.
 

Citing an instance, Asuragen Inc. introduced a new AmplideX PCR/CE SMN1/2 Plus Kit in November 2019, that offers easy-to-use products for complex testing in genetics and oncology and is well-suited with several thermal cycling equipment. Likewise, Agilent Technologies Inc., in January 2020, launched a new SureSelect XT HS2 DNA Kit, to tackle the obstacles faced by scientists while preparation of DNA sequencing libraries. The advanced kit helps the researchers choose appropriate workflow that matches their requirements. Introduction of enhanced & innovative product variants by major industry partakers is fueling global molecular biology enzymes, reagents and kits industry expansion.

Despite the promising trajectory of global molecular biology enzymes, reagents and kits market, factors such as hefty cost, along with restricted reimbursements for genetic testing are likely to negatively impact the business expansion.
 

Regionally, North America presently holds major portion of worldwide molecular biology enzymes, reagents and kits market share and is anticipated to gain traction over the coming years, owing to presence of major vendors in the region, and rising funding for genomics research.
 

On the other hand, Asia Pacific industry is predicted to accrue high profits through 2027, creditable to growing drug discovery research and life science activities in developing economies including India and China.
 

Established firms in worldwide molecular biology enzymes, reagents and kits market sphere are F. Hoffmann-La Roche Ltd., Takara Bio Inc., Promega Corporation, Merck KGaA, Bio-Rad Laboratories Inc., Agilent Technologies Inc., Thermo Fisher Scientific Inc., Illumina Inc., New England Biolabs Inc. (NEB), and Qiagen.