Restriction Endonuclease Market to Grow with a CAGR of 6.53% through 2028
Increasing use of
restriction endonucleases in various applications and growth of research
activities and large R&D investments is expected to drive the Global Restriction
Endonuclease Market growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Restriction Endonuclease Market - Industry
Size, Share, Trends, Opportunity, and Forecast, 2018–2028F”, the Global Restriction Endonuclease
Market stood at USD 370.76 Million in 2022 and is anticipated to grow with a
CAGR of 6.53% in the forecast period, 2024-2028. The restriction endonucleases
product market is projected to experience growth during the forecast period,
primarily driven by increased research and development expenditure from
biotechnology and pharmaceutical companies. Additionally, the market is fueled
by growing funding in genomics and life sciences, a rise in the geriatric
population, and an increasing prevalence of chronic diseases like diabetes,
cardiovascular diseases, and cancer. The market is further expected to benefit
from the adoption of advanced techniques such as DNA sequencing and gene
expression. DNA sequencing, a precise nucleotide extraction process, also
drives the growth of the molecular biology enzymes, kits, and reagents market.
The demand for clinical information systems is increasing due to the rising
need for healthcare facilities in both developed and developing countries.
This, in turn, is driving the demand for restriction endonucleases products. The
market development is significantly influenced by the considerable funding and
investment by various biotechnology and pharmaceutical players.
The growing influx of funding
and investments from biotechnology and pharmaceutical companies is
significantly influencing the development of the global restriction
endonucleases products (REP) market. Furthermore, the expanding utilization of
these restriction endonuclease enzymes for a wide range of applications,
including restriction digestion, cloning, and sequencing, is also positively
impacting the growth of the global REP market. The rapid development of the
global REP market is further supported by the increasing research and
development projects in the field of molecular biology, the rising global
geriatric population susceptible to severe and chronic diseases, and the rising
prevalence of major chronic diseases such as cancer, diabetes, and cardiovascular
ailments. Additionally, the growing preference for innovative techniques such
as DNA sequencing and gene expression is presenting manufacturers and players
in the global REP market with enticing growth and expansion opportunities.
Moreover, the extensive use
of restriction endonuclease enzymes in applications like restriction digestion,
cloning, and sequencing positively impacts the global restriction endonucleases
products market. However, the growth of the restriction endonucleases products
market in the forecast period may be hindered by high expenses associated with
production and the reliability concerns of restriction enzymes products. The
significant production costs associated with solutions in the global
restriction endonucleases products (REP) market, coupled with the unreliable
nature of restriction enzymes, could potentially impede industry growth in the
coming years. However, continuous research and development efforts leading to
an impressive inventory of solutions and therapeutics may foster industry
growth in the near future.
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Restriction Endonuclease Market”
The Global Restriction
Endonuclease Market is segmented into type, application, end user, regional
distribution, and company.
Based
on application, the market is segmented into genetic engineering, DNA mapping,
gene sequencing, and others. The field of genetic engineering involves
manipulating DNA sequences in genomes using various methods and molecular
biology techniques. Molecular biology tools such as restriction enzymes, DNA
sequencing, and DNA cloning allow scientists to efficiently modify chromosomal
DNA in cells and animals. The growth of this field is driven by increased
investments in research and development by biotechnology and pharmaceutical
companies, aiming to develop gene therapies for diseases like cancer, cystic
fibrosis, hemophilia, AIDS, and other conditions. A report published by the
Engineering Biology Leadership Council in June 2022 highlights the strong
support from the United Kingdom government for basic research and early
translation in Engineering Biology (EB). According to the report, engineering
biology has the potential to revolutionize sectors such as chemical and
material (industrial biotechnology), food and agriculture, and health-related
development within the next 5 to 10 years. By 2030-2040, it is projected that
engineering biology could have an annual direct global economic impact of USD
2-4 trillion. The government's increased support is expected to drive growth in
this field during the forecast period. Additionally, the market for genetic
engineering is expected to grow due to rising investments and funding from
governmental organizations. For example, in September 2021, the Nanocapsule
gene editing system received a grant of USD 2.3 million from the National
Institutes of Health (NIH) to advance the development of a novel nonviral
delivery system. This project aims to utilize restriction endonucleases for
precise DNA cutting during the research procedure. The project is part of NIH's
somatic cell genome editing program, in collaboration with UW-Madison, the
Grainger Institute, and the Wisconsin National Primate Research Center (WNPRC).
The funding and research initiatives in genetic engineering, focusing on the
development of therapies for genetic diseases using restriction endonucleases,
are expected to drive growth in this segment during the forecast period.
Based
on region, North America segment is expected to grow during the forecast
period. North America is projected to hold a significant share in the
restriction endonucleases market due to factors such as the presence of key
players, high investments, and growing research and development programs in the
region's biotechnology and pharmaceuticals field. Additionally, favorable
government initiatives and an increase in research partnerships are expected to
drive market growth. Restriction enzymes serve as valuable tools for scientific
research, particularly in genetics research, which contributes to market
expansion. For example, according to the NIH's Estimates of Funding for Various
Research, Condition, and Disease Categories (RCDC) 2022 update, research spending
on genetics projects in the United States was $10,544 million in 2020, $11,010
million in 2021, and is projected to reach $11,480 million in 2022.
The
substantial investment in genetics research in the region is anticipated to
leverage restriction endonucleases for the development of therapies targeting
genetic diseases. The Canadian government is also increasing its investments in
biotechnology research. In March 2022, the Minister of Innovation, Science, and
Industry invested $92 million in adMare BioInnovations to drive innovation and
training activities in Canada's life sciences sector. This investment aims to
translate promising health research into innovative therapies, fostering the
growth of biotechnology companies in Canada. Consequently, these substantial
government investments are expected to create opportunities for restriction
endonucleases and fuel market growth. Furthermore, in March 2022, Colossal
secured $60 million in Series A Funding to advance genetic engineering and
de-extinction technologies. This funding will be utilized to enhance the
application of genetics in human healthcare and species preservation. The
ongoing advancements in the field are projected to contribute to market growth
in the region throughout the forecast period.
Major companies
operating in Global Restriction Endonuclease Market
are:
- Agilent Technologies, Inc.
- Thermo Fisher Scientific Inc.
- Affymetrix, Inc.
- Illumina, Inc.
- Enzymatics, Inc.
- QIAGEN N.V.
- New England Biolabs, Inc.
- Sigma-Aldrich Co. LLC.
- Roche, Ltd.
- Takara Bio, Inc.
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“The market for restriction endonucleases is poised to
witness growth during the forecast period due to increased spending on research
and development in the biotechnology and pharmaceutical industries. Moreover,
advancements in technologies such as DNA sequencing and gene expression are
expected to drive market expansion. Sequencing, a process that retrieves
nucleotides from DNA in a specific order, plays a significant role in the
expansion of the market for molecular biology enzymes, kits, and reagents. The
demand for clinical information systems is on the rise, fueled by the growing
need for healthcare facilities in both developed and emerging nations. Furthermore,
increased investments, government support, and a strong presence of prominent
players, biotechnology research and development programs, pharmaceutical
companies, and well-established healthcare infrastructure are key factors
contributing to the market's growth.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Restriction Endonuclease
Market Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Type (Type I, Type II, Type III, and Type IV), By
Application (Genetic Engineering, DNA Mapping, Gene Sequencing, and Others), By
End User (Pharmaceutical & Biotechnology Companies, Academic Research
Institutes, and Others), By Region and Competition”, has evaluated the future
growth potential of Global Restriction Endonuclease 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 Global Restriction Endonuclease Market.
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