Europe Molecular Biology Enzymes, Kits, and Reagents Market Opportunities by 2028

The molecular biology enzymes, kits, and reagents market in Europe is expected to grow from US$ 4,125.28 million in 2021 to US$ 12,561.60 million by 2028; it is estimated to grow at a CAGR of 17.2% from 2021 to 2028.

France, Germany, Italy, Spain, and UK are major economies in Europe. Sequencing procedures becoming cheaper is the major factor driving the growth of the Europe molecular biology enzymes, kits, and reagents market. 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.

Italy, Spain, the UK, Germany, France, and several other European counties such as Russia and Switzerland were highly affected. The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK were among the most affected European countries, and the number of deaths was also high. The COVID-19 outbreak has been declared by the World Health Organization (WHO) as a Public Health Emergency of International Concern, according to the International Health Regulations. Increasing number of product launches in 2020 and the rising incidence of COVID-19 have positively impacted the Europe molecular biology enzymes, kits & reagents market. In 2020, European Medicines Agency (EMA) approved about 97 medicines for marketing authorization, of which 39 are novel drugs. Similarly, in October 2020, Eurofins introduced COVID-19 PCR tests with at-home self-sampling options in Europe.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe molecular biology enzymes, kits, and reagents market. The Europe molecular biology enzymes, kits, and reagents market is expected to grow at a good CAGR during the forecast period.

Europe Molecular Biology Enzymes, Kits, and Reagents Market Segmentation

 

Europe Molecular Biology Enzymes, Kits, and Reagents Market – By Product

• Enzymes
  • Polymerases
  • Ligases
  • Reverse Transcriptases
  • Phosphatases
  • Proteases and Proteinases
  • Restriction Endonuclease
  • Other
• Kits and Reagents

Europe Molecular Biology Enzymes, Kits, and Reagents Market – By Application

• Epigenetics
• Sequencing
• Synthetic Biology
• Polymerase Chain Reaction
• Other

Europe Molecular Biology Enzymes, Kits, and Reagents Market – By End User

• Biotechnological and Pharmaceutical Companies
• Hospitals and Diagnostic Centres
• Academic and Research Institutes

Europe Molecular Biology Enzymes, Kits, and Reagents Market, by Country

• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe

Europe Molecular Biology Enzymes, Kits, and Reagents Market - Companies Mentioned

• Agilent Technologies, Inc.
• F. HOFFMANN-LA ROCHE LTD
• Illumina, Inc.
• Merck KGAA
• MERIDIAN BIOSCIENCE, INC
• Promega Corporation
• Qiagen
• Rockland Immunochemicals Inc 
• THERMO FISHER SCIENTIFIC INC

Europe Molecular Biology Enzymes, Kits, and Reagents Report Scope