Restriction endonucleases product market is expected to grow during the forecast period owing to the increasing expenditure on research & development by biotechnology and pharmaceutical companies. Increasing funding in genomics and life science, an increasing number of geriatric population, and the growing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer are the vital growth propellers for this market. Furthermore, newly evolved techniques such as DNA sequencing and gene expression is expected to fuel market growth. DNA sequencing is the process through which nucleotides are extracted in a precise order. This process further drives the growth of molecular biology enzymes, kits & reagents market. As the demand for healthcare facilities is growing in both developed and developing countries, this is directly leading to an increase in demand for clinical information systems.
Restriction endonucleases product market is segmented on the basis of application and end-use. On the basis of the application market is divided into PCR (polymerase chain reaction), epigenetics, restriction fragment length polymorphism (RFLP), cloning, sequencing, and restriction digestion. Among these PCR application held the largest market share in 2013. PCR is a process through which multiple copies of DNA are generated from a particular DNA sequence, thereby helps in the diagnosis of hereditary diseases, identifies genetic fingerprints and detects various infectious diseases. On the basis of end-use, the market is divided into hospitals, academic research institutes, pharmaceutical, diagnostic centers, biotechnology companies, clinics, and other end users.
Geographically, the restriction endonucleases product market is divided into North America, Europe, Asia Pacific, and RoW. North America is dominating the whole region as of 2013, followed by Europe. The reason for its dominance is due to the presence of strong research and development in biotechnology, rising contract research outsourcing, and increasing funds for genomic and life science. Asia Pacific market is expected to show lucrative CAGR during the forecast period owing to the rapidly developing healthcare infrastructure, improving, patient awareness, and various government initiatives.
The major players of restriction endonucleases products market are Agilent Technologies, Inc., Affymetrix, Inc., Illumina, Inc., Enzymatics, Inc., QIAGEN N.V., New England Biolabs, Inc., Sigma-Aldrich Co. LLC., Roche, Ltd., Thermo Fisher Scientific, Inc. and Takara Bio, Inc. The market players are involved in developing novel technologies to meet the requirements of users. These companies are also involved in various mergers & acquisitions, to maintain substantial market share.
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Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19. The report will account for Covid19 as a key market contributor.