The major factors that are driving the market growth include technological advancements in transfection, an increase in R&D expenditure and research activities by pharmaceutical and biotech companies, and a rise in demand for synthetic genes.
Introduction of transfection technologies has laid the foundation for genetic dissection of several causative agents of a number of diseases and recent years have seen the development of novel tools for genetic manipulation that will help the scientific community delineate the intriguing biology of a wide variety of parasites. Academic research trends continue to drive transfection technology advancements.
Over the forecast period, researchers are expected to use more biologically relevant yet hard-to-transfect cell models in addition to the standard immortalized cell lines, along with a broader range of nucleic acids, such as RNA variants. These possibilities lead to interesting twists that demands innovation.
Key Market Trends
Pharmaceutical & Biotechnology Companies are Expected to Hold a Significant Share in the End User Segment
The rapid progress of cell and gene therapies through clinical development is fueling the demand for late-stage clinical and commercial manufacturing capabilities. Transient transfection for vector production offers noteworthy flexibility for cell and gene therapy development. Pharmaceutical and biotechnology companies with the ability to achieve high-yielding clinical and commercial manufacturing of high-quality viral vectors using transient transfection are now offering their clients this flexibility combined with scalability and speed to market.
Moreover, the global pharmaceutical industry investment in research and development has increased over the years, Hence, with the increasing R&D expenditure, the market in the pharmaceutical industry is expected to attain a good growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the global market studied. Research in the region, especially in the United States, is widely believed to be essential to the economic growth of North America, and the innovations derived from basic and applied research provide enormous benefits to society. For this reason, the federal government devotes a significant amount of funding towards biopharmaceutical products research. Hence, the US is expected to dominate the global market over the forecast period as well.
The global transfection reagents and Equipment market is moderately competitive and consists of a number of major players. Companies like Bio-Rad Laboratories, Lonza Group, MaxCyte Inc., Merck KGaA, Mirus Bio, Polyplus-transfection SA, Promega Corporation, QIAGEN N.V., Thermo Fisher Scientific Inc.., among others, hold the substantial market share in the Transfection Reagents and Equipment market.
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