(PharmaNewsWire.Com, August 17, 2020 ) The Reporter Gene Assay Investigation Market is expected to reach USD 2.6 billion by 2024 from an estimated USD 1.6 billion in 2019, at a CAGR of 10.1%. The major factors driving the growth of this market include increasing funding for cell-based research, growing applications of gene expression, and a rising preference for cell-based assays.
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Market Size Estimation:
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization / adoption / penetration trends, by product, application, end user, and region).
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.
Merck is the leading player in the Reporter Gene Assay Investigation 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.
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.
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. 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.
North America to hold the largest regional market share in 2019
North America is expected to account for the largest share of the Reporter Gene Assay Investigation Market in 2019, followed by Europe. The large share of North America in the global market can be attributed to the growing academic and government investments in genomics and proteomics research; rising demand for cell-based assays in research; increasing focus on cell-based therapeutics; and rising focus of stakeholders on research projects involving proteins, associated biomolecules, and genes.
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