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The molecular biology kits and reagents and enzymes market is expected to reach $15.0 billion by 2022, growing at a CAGR of 17.2% between 2016-2022. The molecular biology kits and reagents and enzymes market is growing due to increasing geriatric population, increasing prevalence of infectious diseases, and growing cases with genetic disorders. In addition, increasing healthcare expenditure resulting in improvement in research activities is further driving the market growth.

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In terms of product, the molecular biology kits & reagents and enzymes market has been segmented into kits & reagents and enzymes. The kits & reagents segment led the molecular biology kits & reagents and enzymes industry in 2015, and it is expected to witness higher growth compared to enzymes, during 2016 - 2022.

In terms of application, the molecular biology kits & reagents and enzymes market has been segmented into PCR, sequencing, cloning, epigenetic, restriction digestion, synthetic biology, and others. The PCR was the largest application of the molecular biology kits & reagents and enzymes industry in 2015, and sequencing is expected to witness the highest growth during 2016 - 2022.

Asia-Pacific is expected to be the fastest growing region in the molecular biology kits & reagents and enzymes market during 2016 - 2022. The major reasons for the fastest growth of the market in this region are improving healthcare infrastructure, increasing prevalence of cancer, increasing geriatric population and increase in R&D spending. In 2015, Japan was the largest contributor to the Asia-Pacific molecular biology kits & reagents and enzymes industry, accounting for a 42.6% share. The Asia-Pacific molecular biology kits & reagents and enzymes is expected to grow at a CAGR of 18.3% during the forecast period, to reach $1,240.4 million by 2022.

Some of the competitors in the molecular biology kits & reagents and enzymes market are Thermo Fisher Scientific, Inc., Merck KGAA, Qiagen N.V., Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Becton, Dickinson and Company, Promega Corporation, New England Biolabs, Inc., Illumina, Inc. and Takara Bio Inc.

Source: P&S Intelligence