Market Trends of Global Reporter Gene Assay Industry
This section covers the major market trends shaping the Reporter Gene Assay Market according to our research experts:
The Assay Kits Segment is Expected to Hold a Major Market Share in the Reporter Gene Assay Market
The assay kits segment is expected to register significant revenue over the forecast period. The sudden outbreak of COVID-19 has increased the demand for reporter gene assays owing to their efficiency in studying the gene expression of the unknown virus to produce suitable vaccination.
The assay kits mostly used are fluorescent protein-related assay kits, secreted alkaline phosphate(SEAP) assay kits, luciferase assay kits, beta-galactosidase assay kits, and others. This is attributed to their increased usage in expression studies and signaling pathway analysis during gene transcription or translation levels. Also, the extensive usage of assays enables precise signal measurement, maintaining the consistency of the outcomes. In addition, they are convenient, fast, sensitive, and display a broadly linear pattern for detection. Moreover, the rising focus of researchers on establishing high-throughput assays of beta-galactosidase for reporter systems based on bacterial cells contributes to the fastest growth rate of the assay kit segments. This huge surge in demand for the assay kits segment is expected to propel the market's growth.
The launch of assay kits by market players is also propelling the growth of the segment. For instance, in June 2021, QIAGEN launched the QIAprep& amp; CRISPR Kit and CRISPR Q-Primer Solutions that allow researchers to analyze edited genetic material with unparalleled speed and efficiency to determine how their interventions have changed the function of the DNA sequence.
Thus, owing to the abovementioned factors, the market segment is expected to propel the growth of the market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.
The North American region is likely to dominate the global market owing to the technological innovations in the diagnostic and reporter gene assay products used for disease testing. The region will retain its dominant position over the forecast years on account of investments by biotechnology companies and health care facilities to accelerate the development of gene therapies.
The growing investment by biotechnological and pharmaceutical companies in establishing facilities dedicated to research and manufacturing of gene therapy and related genetic products also drives the growth of the market. For instance, in December 2020, Taysha Gene Therapies, Inc. entered into a lease agreement to occupy and configure an approximately 187,000-square-foot commercial-scale current Good Manufacturing Practices (cGMP) manufacturing facility in Durham, North Carolina for preclinical, clinical, and commercial production of its gene therapy pipeline. Additionally, in December 2021, Pfizer Inc. reported the opening of a new, state-of-the-art clinical manufacturing facility in Durham, North Carolina. The facility expands Pfizer's end-to-end capabilities in gene therapy and builds on the company's existing footprint in North Carolina. The Durham facility is part of a USD 800 million investment over the past six years to build three scalable, state-of-the-art gene therapy manufacturing facilities to support Pfizer's continued investment in gene therapy research, development, and manufacturing.
In addition, the launch of products such as assay kits in the region is also propelling the growth of the market. For instance, in November 2021, Asuragen, Inc., a Bio-Techne brand, launched a new kit to detect pathogenic variants in the CFTR gene, namely the AmplideX PCR/CE CFTR kit, intended for research use only. It provides broader coverage of the diverse United States population than any other commercially available, targeted CFTR testing assay. Such products, specifically targeting the United States population, are also propelling the growth of the market.
Thus, owing to the abovementioned factors, the market in the North American region is expected to show growth over the forecast period.
