Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market Forecast by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Enzymes and Kits & Reagents), Application (Epigenetics, Sequencing, Synthetic Biology, Polymerase Chain Reaction, and Other), and End User (Biotechnological & Pharmaceutical Companies, Hospitals & Diagnostic Centers, and Academic & Research Institutes)
- Report Date : Nov 2021
- Report Code : TIPRE00025776
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 167
The molecular biology enzymes, kits, and reagents market in MEA is expected to grow from US$ 537.68 million in 2021 to US$ 1,566.09 million by 2028; it is estimated to grow at a CAGR of 16.5% from 2021 to 2028.
Saudi Arabia, South Africa, and UAE are major economies in MEA. Personalized medicines are at high demand and this is the major factor driving the growth of the MEA molecular biology enzymes, kits, and reagents market. According to the WHO suggestions, 30–50% of deaths caused due to cancer can be prevented by adequate treatment in early stages. In this scenario, personalized medicine offers the most promising approach to tackle diseases that have not been well-known for responding effectively to the existing treatments or cures. As per a study published in the PMC, personalized medicines accounted for only 5% of the new FDA-approved molecular entities in 2005, whereas they accounted for more than 25% of the same in 2016. Additionally, 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to be personalized medicines. Moreover, biopharmaceutical companies have nearly doubled their R&D investments in personalized drugs in the past five years, and they are expected to increase by 33% in the next five years. Biopharmaceutical researchers also predict a 69% increase in the number of personalized medicines in development in the coming five years.Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and cannot implement any public health measures. Iran was in a deep economic recession due to the US sanctions. Also, the major source of economic stabilization in the Middle East countries is oil production and export. However, the recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage are major impacts observed in the region.The Saudi government policies favor domestic pharmaceutical manufacturers, including no import duties on raw materials & intermediate products and interest-free funding, thus supporting the growth of the pharmaceutical market in this region.
Similarly, the increasing incidence of COVID-19 is creating a massive demand for kits and reagents used to detect the COVID-19 virus. In April 2020, BGI Group, a Chinese genomics company, and Group-42, a UAE technology company, unveiled a new massive-throughput laboratory in the UAE to help with testing and diagnosis of the novel coronavirus. According to BGI, the lab will use RT-PCR diagnostic kits that have been approved by medical regulatory authorities in China, Europe, the US, and Japan. As molecular biology enzymes, kits, and reagents are majorly used in the detection of a novel coronavirus, so there was a high impact of COVID-19 on the molecular biology enzymes, kits & reagents market.
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 MEA molecular biology enzymes, kits, and reagents market. The MEA molecular biology enzymes, kits, and reagents market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
MEA Molecular Biology Enzymes, Kits, and Reagents Market Segmentation
MEA Molecular Biology Enzymes, Kits, and Reagents Market – By Product
Enzymes
- Polymerases
- Ligases
- Reverse Transcriptases
- Phosphatases
- Proteases and Proteinases
- Restriction Endonuclease
- Other
- Kits and Reagents
MEA Molecular Biology Enzymes, Kits, and Reagents Market – By Application
- Epigenetics
- Sequencing
- Synthetic Biology
- Polymerase Chain Reaction
- Other
MEA Molecular Biology Enzymes, Kits, and Reagents Market – By End User
- Biotechnological and Pharmaceutical Companies
- Hospitals and Diagnostic Centres
- Academic and Research Institutes
MEA Molecular Biology Enzymes, Kits, and Reagents Market, by Country
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
MEA 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
- THERMO FISHER SCIENTIFIC INC
Middle East and Africa Molecular Biology Enzymes, Kits, and Reagents Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 537.68 Million |
| Market Size by 2028 | US$ 1,566.09 Million |
| Global CAGR (2021 - 2028) | 16.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- Agilent Technologies, Inc.
- F. HOFFMANN-LA ROCHE LTD
- Illumina, Inc.
- Merck KGAA
- MERIDIAN BIOSCIENCE, INC
- Promega Corporation
- Qiagen
- THERMO FISHER SCIENTIFIC INC
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