The global transfection reagents and equipment market has the potential to grow by USD 319.58 million during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (Asia, Europe, North America, and ROW) and product (reagents and equipment). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Agilent Technologies Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Lonza Group Ltd., MaxCyte Inc., Merck KGaA, Polyplus-transfection SA, Promega Corp., QIAGEN NV, and Thermo Fisher Scientific Inc.
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The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. The high prevalence of cancer and the improvement of healthcare infrastructure in emerging economies have been creating business opportunities for vendors in the transfection reagents and equipment market. Agilent Technologies Inc., Bio-Rad Laboratories Inc., and F. Hoffmann-La Roche Ltd. are a few of the major market participants. Although the accelerating growth momentum will offer immense business opportunities, risks associated with the extraction of DNA and RNA will challenge the growth of market participants. To increase their transfection reagents and equipment market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this transfection reagents and equipment market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this transfection reagents and equipment market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading transfection reagents and equipment manufacturers, including:
Agilent Technologies Inc.
Bio-Rad Laboratories Inc.
F. Hoffmann-La Roche Ltd.
Lonza Group Ltd.
Thermo Fisher Scientific Inc.
Transfection Reagents and Equipment Market: Segmentation by Region
North America was the largest market for transfection reagents and equipment in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. Factors such as rising incidences of cancer, an increasing number of clinical trials, presence of key vendors, and growing healthcare expenditure are contributing to the transfection reagents and equipment market growth in this region.
Over 41% of the market’s growth will originate from North America during the forecast period. The US is a key market for transfection reagents and equipment in North America. However, market growth in this region will be slower than the growth of the market in Asia.
Transfection Reagents and Equipment Market: Segmentation by Product
Transfection reagents are used in various applications, including stem cell transfection, siRNA transfection, transfection optimization, and transfection buffers. These reagents help in transporting and facilitating the cellular uptake of exogenous nucleic acids. The increasing commercial adoption, ease of application, and low prices of transfection reagents are a few factors fueling their demand during the forecast period.
However, market growth by the reagents segment will be slower than the growth of the market by the equipment segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the transfection reagents and equipment market size.
Transfection Reagents and Equipment Market: Key Drivers and Trends
The rising demand for timely disease diagnosis is one of the significant factors driving the transfection reagents and equipment market growth. The demand for timely disease diagnosis is increasing, especially among patients with a high risk of hereditary diseases. Direct-to-consumer (DTC) genetic testing procedures are widely being preferred for identifying gene-related risks of developing diseases such as cancer, Parkinson’s disease, and Alzheimer’s disease. The timely diagnosis of such diseases through DTC genetic testing will allow individuals to monitor indications through their physicians and take precautionary measures. The number of visits to doctors for regular checkups has also increased due to factors such as rising disposable income and increasing number of campaigns raising awareness about the importance of timely diagnosis of diseases. Such factors are expected to boost the demand for transfection reagents and equipment, which are widely used in genetic variation testing procedures and laboratories for investigative analysis.
The number of clinical trials conducted by pharmaceutical companies has increased across the world, especially in developing countries.
The rise in the number of clinical trials in developing countries can be attributed to factors such as access to a large patient pool, friendly market reforms, strong intellectual property and clinical trial infrastructure, and availability of skilled workforce.
Pharmaceutical companies conduct clinical trials to comply with stringent regulations and reduce their drug development costs.
Transfection reagents and equipment are widely used in such preclinical studies and clinical trials to support the development of novel therapies based on the delivery of nucleic acids.
During 2020-2024, the transfection reagents and equipment market will grow at a CAGR of over 6%.