PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174544
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174544
Restriction Endonucleases Market size was valued at USD 360.8 Million in 2021, expanding at a CAGR of 7.7% from 2022 to 2028.
In order to produce distinct DNA fragments that can be distinguished by gel electrophoresis, restriction endonuclease, an enzyme, cuts the DNA molecule at or close to a certain nucleotide sequence.
The increased use of restriction endonuclease enzymes in a variety of applications, including cloning, sequencing, and restriction digestion, is the main driver contributing to the market's growth. Moreover, the financial support and investment made by pharmaceutical and biotechnology firms. The key growth drivers for this market include rising funding for genetics and life science, an aging population, and the rising prevalence of chronic diseases like diabetes, cardiovascular disease, and cancer. The manufacture of restriction endonucleases is expensive, which limits market expansion.
The market for restriction endonucleases is anticipated to expand throughout the course of the forecast period as a result of rising biotechnology and pharmaceutical industry spending on research and development. Additionally, recently developed technologies like DNA sequencing and gene expression are anticipated to drive market expansion. Nucleotides are retrieved from DNA in a certain order through a process called sequencing. This method contributes to the market expansion for molecular biology enzymes, kits, and reagents. The demand for clinical information systems is rising as a result of the growing need for healthcare facilities in both developed and emerging nations. Furthermore, this rise in R&D effort is being supported by increased investment and the support of funding by the government is also fueling the market growth. The existence of prominent players, significant investments, expanding biotechnology research & development programs the presence of pharmaceuticals in the area, and well-established healthcare infrastructure are all contributing factors to the market growth.
The Global Restriction Endonucleases Market is segmented on the basis of Type, Application, End User, and Region.
The market is split into four categories based on Type: Type I, Type II, Type III, and Type IV. The Type II segment dominates the market. Growing demand for biological applications such as DNA analysis is mainly contributing to segment growth.
The market is segmented into four categories based on application: genetic engineering, DNA mapping, gene sequencing, and others. The DNA mapping segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for DNA fragmentation needs.
The market is segmented into four categories based on end-users: Academic research, pharma-biotech, and others. The pharma-biotech segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the need for restriction endonucleases in pharma operations.
The worldwide market for restriction endonucleases is highly fragmented and comprised of large and small-sized market players with a few large ones dominating the global market share. Key players are emphasizing adopting aggressive strategies to capture significant revenue share. For instance, in October 2022, Pfizer completed the acquisition of Biohaven Pharmaceuticals to expand its gene-related product portfolio.
The scope of this report covers the market by its major segments, which include as follows: