Growth in this market is driven by increasing funding for cell-based research, the growing applications of gene expression, and a rising preference for cell-based assays. However, the high cost of cell biology research is expected to restrain the growth of this market to a certain extent during the forecast period.
The global reporter gene assays market is projected to reach USD 2.6 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 10.1%.
Players in the global reporter gene assays market, such as Merck KGaA (Germany), Thermo Fisher Scientific (US), Promega Corporation (US), Abcam plc (UK), PerkinElmer (US), Danaher Corporation (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Geno Technology (US), GeneCopoeia, Inc. (US), InvivoGen (France), PromoCell (Germany), and Biotium (US) are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies of product launches, expansions, agreements, collaborations, and acquisitions.
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Merck is the leading player in the reporter gene assays market. With regard to providing innovative products, Merck invests a significant amount of its sales revenue in R&D. In 2017, it invested around 14% of its sales revenue in R&D activities. This allows the company to extend its technological capabilities and provide superior-quality products, thereby helping it to achieve long-term growth.
The company is also investing a large sum into its expansion projects to increase its production capacity and cater to a larger consumer base. In this regard, in 2018, the company invested USD 19 million in its new manufacturing and distribution center for the life science business in India. Similar investments have been made by the company in the last few years. The acquisition of Sigma-Aldrich significantly enhanced the company’s global presence and broadened its portfolio in the reporter gene assays market.
Recent Developments:
# In 2018, Thermo Fisher acquired Advanced Bioprocessing business from BD, to expand Thermo Fisher Scientific’s cell-culture media products and strong technical services program.
# In 2017, Becton, Dickinson and Company acquired C.R Bard (US). This acquisition advanced BD’s product offerings and global reach.
# In 2018, Merck opened a new 3,800-square-meter laboratory in Singapore.
# In 2018, Thermo Fisher Scientific (US) opened its Bioprocess design center in Shanghai.
Thermo Fisher Scientific was the second-largest player in the global reporter gene assays market in 2018. The company’s stronghold in the market is largely attributed to its strong product portfolio and strong customer relations. It also leverages the advantage of three well-established brands—Thermo Scientific, Fisher Scientific, and Unity Lab Services. Additionally, its large number of production sites gives it a competitive advantage over other players in the market.
Moreover, its significant investment in R&D enables it to provide innovative products in the market space, thus enabling it to maintain and improve its competitive position in the reporter gene assays market. Thermo Fisher also focuses on geographic expansions. In line with this, the firm has opened its new GMP facilities in the US and South Korea in 2016. Moreover, the company aims to strengthen its presence in selected geographies in the Asia Pacific region, undertaking various organic and inorganic growth strategies.
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Promega Corporation was the third largest player in the reporter gene assays market. The company offers more than 4,000 products, which enable scientists to boost their knowledge in life science research, particularly in genomics, protein analysis & expression, cellular analysis, drug discovery, and genetic identity.
Critical questions the report answers:
# Where will all these developments take the industry in the mid-to-long term?
# What are the major end users of reporter gene assays?
# What are the application areas of the reporter gene assays?
# Which are the most commonly used reporter gene assays kits?
# What is the global scenario of the reporter gene assays market?
The company has a strong intellectual property portfolio, which helps it to maintain its position in the life sciences market. Promega has a strong direct presence across the globe. It has branches in 16 countries and more than 50 global distributors across 100 countries. The company’s strong distribution network helps cater to the growing demand of various cell-based assays and reagents used in research labs and academic institutes.
Leading Players in the Global Reporter Gene Assays Industry
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TBRC’s market report includes a chapter on the COVID-19 impact on the gene therapy industry, which gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market and how companies can strategize to bounce back from it. With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected gene therapy market growth numbers from 2022-2031. id=3395&type=smp The global gene therapy market is expected to grow from $5. The gene therapy market is expected to reach $21. Key Mergers And Acquisitions In The Gene Therapy Market30.
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Some of the key players in the market include:· Asahi Kasei Corporation (Japan)· Beijing Strong Biotechnologies· Inc. (China)· Diazyme Laboratories· Inc. (US)· DxGen Corp. (South Korea)· Weldon Biotech (India)· Hzymes Biotech (China)In 2022, Asahi Kasei Corporation (Japan) led the glycated albumin assay market. Hymes Biotech, a prominent player in the global glycated albumin assay market, secured a significant market share in the glycated albumin assay market in 2022.
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The global gene therapy market is currently dominated by several market players. The gene therapy is mainly of two types, somatic gene therapy, and germline gene therapy, depending on the type of cells its targets. The global gene therapy market has on the basis of indication is segmented, into oncology, genetic diseases/ disorders, and others. The gene therapy market in the Middle East & Africa has been divided into the Middle East and Africa. com/reports/gene-therapy-market-8399 About Market Research Future:At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
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Some of the key players in the market include:· Asahi Kasei Corporation (Japan)· Beijing Strong Biotechnologies· Inc. (China)· Diazyme Laboratories· Inc. (US)· DxGen Corp. (South Korea)· Weldon Biotech (India)· Hzymes Biotech (China)In 2022, Asahi Kasei Corporation (Japan) led the glycated albumin assay market. Hymes Biotech, a prominent player in the global glycated albumin assay market, secured a significant market share in the glycated albumin assay market in 2022.
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