The World Health Organization (WHO) states that 37.7 million people were living with human immunodeficiency virus/acquired immunodeficiency syndrome (HIV/AIDS) in 2020 globally. This disease was responsible for 680,000 fatalities in 2020. Further, the organization reveals that cervical cancer caused due to human papillomavirus (HPV) accounted for 311,000 deaths globally. The WHO also states that hepatitis C virus (HCV) infects around 1.5 million people each year, and it was responsible for 290,000 fatalities in 2019.
Additionally, the International Agency for Research on Cancer (IARC) recorded 19,292,789 new cancer cases in 2020. As per this institution, breast, lung, colorectum, prostate, stomach, liver, cervix uteri, and esophagus cancers were the most prevalent ones in 2020. Thus, the surging incidence of infectious diseases and cancer is expected to drive the molecular biology kits and reagents and enzymes market at a healthy CAGR of 17.2% during the forecast period (2016–2022). According to P&S Intelligence, the market revenue stood at $4,928.3 million in 2015.
Currently, the molecular biology kits and reagents and enzymes market is consolidated in nature, wherein Merck KGaA and Thermofisher Scientific Inc. account for the largest share. Other key players of the market include Promega Corporation, Illumina Inc., Agilent Technologies, F. Hoffmann-La Roche Ltd., Takara Bio Inc., Qiagen N.V., New England Biolabs Inc., and Becton, Dickinson and Company. These companies are currently focusing on acquisitions and product launches to march ahead of their competitors.
Whereas, the Asia-Pacific (APAC) molecular biology kits and reagents and enzymes market is expected to witness the fastest growth throughout the forecast period, owing to the surging genetic disorder cases and rising public awareness regarding molecular diagnostics in the region. For example, the Down Syndrome Federation of India estimates that 1 in every 800 babies in India is born with down syndrome. Furthermore, the Centers for Disease Control and Prevention (CDC) states that sickle cell disease (SCD) affects millions of people in India.
Therefore, the increasing cases of infectious diseases and cancer will facilitate the requirement for molecular biology kits and reagents and enzymes in the upcoming years.
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