The increasing incidence of genetic disorders is expected to drive the growth of the India Molecular Biology Reagents & Kits Market in the forecast period.
According to TechSci Research report, “India Molecular Biology Reagents & Kits Market – By Region, Competition, Forecast & Opportunities, 2018-2028F”, India Molecular Biology Reagents & Kits market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the growing prevalence of genetic disorders such as cystic fibrosis, and sickle cell diseases along with an increase in the cases of cancer, and genetic anomalies in newborns across the country. Similarly, growing awareness of genetic testing for screening cancer, pre-natal genetic screening the growing usage of NGS for the studies of different genetic diseases will further drive the growth of the market during the forecast period. Additionally, growing healthcare infrastructure and support by the government for the diagnosis of a genetic disease is expected to create lucrative growth for the market during the forecast period. Also, growing technological advancement such as Covid-19 testing kits will further boost the growth of the market over the years.
However, high cost of molecular biology reagents and kits may hamper the growth of the India Molecular Biology Reagents & Kits market in the forecast period. Additionally, lack of skilled professionals for handling the instruments and stringent regulatory requirements for approval of the new reagents and kits may hamper the growth of the market during the forecast period. Similarly, limited reimbursement for genetic testing can hamper the India Molecular Biology Reagents & Kits market during the forecast period.
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India Molecular Biology Reagents & Kits Market can be segmented by type, application, end user, region, and competitive landscape.
Based on Type, the India Molecular Biology Reagents & Kits Market can be segmented into Reagents & Kits, Enzymes, PCR Master Mixes, Others. The reagents and kits segment is expected to dominate the market during the forecast period because of growing development of novel products along with growing investment by key players for the development of new products. Similarly, the increasing scope in molecular biology and enzymes for diagnosis of chronic diseases is expected to create lucrative growth during the forecast period.
Based on Application, the India Molecular Biology Reagents & Kits market can be further segmented into PCR, NGS, Cloning, Gene Function, Nucleic Acid Purification, Proteomics, Others. The PCR segment dominated the market in 2022 and is expected to maintain its dominance throughout the forecast period. This can be attributed to increasing COVID-19 cases and other infectious diseases across the country along with growing demand for accurate and reliable results of genetic material detection. Similarly, advent of new technologies such as droplet digital PCR for detection of pathogens, gene mutation, gene copy number variation and mRNA expression level checking are expected to boost the growth of the market during the forecast period.
Major companies operating in India Molecular Biology Reagents & Kits Market are:
- Thermo Fisher Scientific India Pvt. Ltd.
- Agile Lifescience Technologies (India) Pvt Ltd
- Bio Lab Diagnostics (I) Private Limited
- Illumina India Biotechnology Private Limited
- Agilent Technologies India Pvt Ltd
- QIAGEN India Pvt. Ltd.
- Clementia Biotech
- ELK Biotechnology Co. Ltd.
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For instance, in February 2022, Singular Genomics collaborated with Agilent Technologies for the integration of Agilent’s SureSelect Target Enrichment Reagents with Singular’s G4 sequencing platform.
For instance, a new round of funding headed by LeapFrog Investments, a global impact investing business, raised USD 55 million (about INR 419 crore) for Bengaluru, India-based MedGenome in April 2020 .This company specializes in genetic diagnoses, research, and data.
“India Molecular Biology Reagents & Kits Market is expected to register significant growth during the forecast period on account of the increasing investments in proteomics and genomics research for development of novel drugs along with growing adoption of advanced technology across the country.. Similarly, the low cost of sequencing procedures and growing prevalence of infectious diseases such as COVID-19 has enhanced the demand for molecular biology reagents and kits during the forecast period. Additionally, growing investments by government in the life science industry for better research work across the country will further drive the growth of the market over the years. Besides, the growing incidence of genetic disorders such as immune system disorders, metabolic diseases and in born genetic disorders and rising number of genome projects across the country is further expected to increase the demand for the India molecular biology reagents & kits market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Molecular Biology Reagents & Kits Market By Type (Reagents & Kits, Enzymes, PCR Master Mixes, Others), By Application (PCR, NGS, Cloning, Gene Function, Nucleic Acid Purification, Proteomics, Others), By End User (Academic & Research Institutions, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others), By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential of India Molecular Biology Reagents & Kits market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Molecular Biology Reagents & Kits market.
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