The DNA polymerase market is poised for robust growth, with a projected valuation of US$ 353.9 million in 2023, set to surge at a remarkable CAGR of 6.2% and reach US$ 647.5 million. By 2033. DNA polymerase plays a pivotal role in diagnostic applications, particularly PCR tests, due to its superior ability to synthesize new DNA strands. Advancements in processivity, specificity, fidelity, and thermostability have marked the past decade. Cutting-edge technologies like hot start and high-fidelity DNA polymerase are gaining traction, revolutionizing accuracy levels in colony screening assays, next-generation sequencing, and Sanger sequencing, unlocking new possibilities in the field.
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Increasing R&D activities is a key factor positively influencing the development and use of high-fidelity DNA polymerase. Increasing incidences of cancer, concerns over uncontrolled genetic mutations, increasing awareness on neurological disorders, and potential for treating chronic diseases create lucrative opportunities in the DNA polymerase market. Also, the growing importance being given to personalized medicine will provide impetus to market players through the coming decade.
On the other hand, DNA polymerase market players are expected to face a number of challenges during the forecast period. For instance, shortage of adequately skilled professionals is a restraining factor affecting the market. Lack of information and awareness associated to DNA polymerase also affects sales prospects. Also, a shortage of funding by governments in the sector are restraining market growth. These factors are especially true in developing countries with restricted access to capital and infrastructure.
Key Takeaways from DNA Polymerase Market Study
- The global DNA polymerase market is projected to grow at approximately 6.5% CAGR through the projection period.
- Molecular diagnostic applications will account for major market, with impetus from the covid-19 pandemic.
- The U.S. will hold the lead in North America accounting for more than 50% of the global valuation.
- China will reflect high growth potential accounting for a CAGR of over 7.5%, owing to rising healthcare spending.
- UK will reflect high demand in Europe supported by the rise of contract research and manufacturing organizations in biopharmaceuticals.
“The introduction of numerous government initiatives and rising levels of government funding efforts for R&D activities, are key factors that are expected to bolster the growth of high-fidelity DNA polymerase offerings. Furthermore, the increasing occurrence of genetic disease, is also one of the major factors supporting growth in the market through the assessment period,” said an FMI analyst.
Who is Winning?
The global DNA polymerase market is set to widen its scope of expansion through the assessment period, driven by a higher rate of adoption in molecular diagnostics, bioprocessing, cancer research and development of generic biologics in the biopharmaceutical sector. A shortage of adequately skilled professionals and lack of awareness has restrained revenue in the industry.
Some of the more prominent players in the DNA polymerase market include but are not limited to Thermo Fisher Scientific Inc., Hoffmann-La Roche AG, Merck KGaA, Qiagen N.V., Agilent Technologies Inc., Takara Bio Inc., Genescript, Illumina Inc., New England Biolabs, Inc., Bioline, and Promega Corporation.
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Future Market Insights provides an exhaustive report in terms of forecast on global, regional, and country levels, with actionable insights on the latest industry trends in key segments from 2016 to 2031. The DNA polymerase market is segmented in detail to encompass all aspects, providing readers with a complete market intelligence report approach. The study provides details on the basis of product type (prokaryotic and eukaryotic), and end use (molecular diagnostics companies, diagnostic laboratories, academic and research institutes, biopharmaceutical companies, and hospitals), across seven major regions.
Key SegmentsProduct Type
- Prokaryotic DNA polymerase
- Eukaryotic DNA polymerase
End Use
- Molecular diagnostics companies
- Diagnostic laboratories
- Academic and research institutes
- Biopharmaceutical companies
- Hospitals
Region
- North America (U.S. & Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru, & Rest of LATAM)
- Western Europe (Germany, U.K., France, Italy, Spain, BENELUX, Nordic, & Rest of W. Europe)
- Eastern Europe (Russia, Poland, CIS Countries and Rest of E. Europe)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Israel, & Rest of MEA)
- Japan
- Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, & Rest of APEJ)
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