GENOMICS AND PROTEOMICS REAGENTS, RESEARCH KITS, & ANALYTICAL INSTRUMENTATION MARKET ANALYSIS

Genomics and Proteomics Reagents, Research Kits, & Analytical Instrumentation MarketSize and Trends

The global genomics and proteomics reagents, research kits, and analytical instrumentation market is estimated to account for US$ 59,185.3 Mn in terms of value in 2020 and is expected to reach US$ 132,162.2 Mn by the end of 2027.

Figure 1: Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market Share (%) Value, By Region, 2019

Thermal cyclers held dominant position in the global genomics and proteomics reagents, research kits, and analytical instrumentation market in 2019, accounting for 34.8% share in terms of value, followed by Europe and Asia Pacific, respectively.

The global genomics and proteomics reagents, research kits, and analytical instrumentation market was valued at US$ 52,353.2 Mn in 2019 and is forecast to reach a value of US$ 132,162.2 Mn by 2027 at a CAGR of 12.2% between 2020 and 2027.

Figure 2: Global Genomics and Proteomics Reagents, Research Kits, and Analytical Instrumentation Market Value (US$ Mn), 2016 dash; 2027

Market Trends/Key Takeaways

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in October 2019, Illumina, Inc. partnered with QIAGEN N.V. to broaden the availability and use of NGS-based in-vitro diagnostic kits, including companion diagnostics, for patient management.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2018,  Agilent Technologies Inc. acquired ACEA Biosciences Inc., a developer of cell analysis tools, for US$ 250 million in cash.