Global In-vitro Transcription Templates Market: Overview
The global market for in-vitro transcription template is growing significantly owing to the biotechnology advancements including molecular biology and nanotechnology. This process enables healthcare experts to create different sizes of RNA molecule ranging from milligram, microgram, and to kilograms. These sizes are purely dependent on the template-directed procedures. Formation of RNA molecules allows healthcare researchers to perform various reactions so as to identify biochemical processes of the human body. In addition to this, in-vitro transcription needs DNA-based templates and other transcription factors.
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The in-vitro transcription templates global market is fragmented as per application, type, and end-user. According to type, the plasmids segment is anticipated to dominate the market on the back of higher adoption towards plasmids in the form of templates by various end-users. Also, oligonucleotides segment is expected to grow significantly in terms of CAGR from 2018 to 2026. The growth of this segment is primarily due to the rise in therapeutics, diagnostics of oligonucleotide templates, and application in research. In the year 2017, the drug discovery segment as per application held an accountable share in the in-vitro transcription template market. The biotechnology and pharmaceutical companies as per end-user are expected to grow in the coming years owing to the rising focus and expenditure on R&D activities.
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The report published discusses a detained overview of the global in-vitro transcription templates market. An in-depth qualitative and quantitative analysis is performed to find the market share and size. Significant projections have been made according to the data collected from various primary and secondary sources. The market also showcases competitive landscape of key players by performing value chain and stakeholder analysis. Furthermore, it also covers Porter’s Five Force analysis to derive the vendor competitive landscape of the market. Primary data has been collected from interviewing some experts in this field. Secondary data has been taken from sources such as journals, press releases, relevant research papers, and publications.
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Global In-Vitro Transcription Templates Market: Drivers and Restraints
The global in-vitro transcription template market is driven by rising focus on pharmaceutical and healthcare firms in R&D. Furthermore, gene editing and drug discovery has resulted in the increasing demand for innovation and advanced transcription methods. These methods are adopted to introduce new drugs and products in the pharmaceuticals industry which in turn, is anticipated to boost the demand for in-vitro transcription market based on templates. Rising adoption of customized medicines and drugs by healthcare providers is also estimated to surge the demand for this market in the upcoming years. Some of the drivers existing in the in-vitro transcription template market include rising prevalence of rare disorders, gene editing technology, and enabling targeted drugs with the use of RNA synthesis to stick to specific targets.
On the contrary, huge capital investment is required and this restricts new entrants to penetrate into the in-vitro transcription templates market. This has further given more bargaining power to manufacturers which leads to high price of in-vitro transcription templates. Owing to the aforementioned factor, the adoption of this market has decreased and thus hampers the expansion of in-vitro transcription templates market globally.
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Global In-vitro Transcription Templates Market: Geography
According to region, the global market for in-vitro transcription templates market is segmented into different geographies which include Europe, North America, Asia Pacific, Latin America, and MEA. In 2017, North America dominated the market and is projected to continue dominating throughout the forecast period. Some of the factors influencing the demand of in-vitro transcription templates market in this region include high spending on R&D by biotechnology and pharmaceutical companies, rising initiatives by government to encourage drug delivery, and rising focus towards personalized drugs and medicines. Europe followed by Asia Pacific held second largest market share in the year 2017.
Global In-vitro Transcription Templates Market: Company Profiling
Some of the prominent players in the global in-vitro transcription templates market incorporate Lucigen, Promega Corporation, Enzynomics co Ltd., Enzo Life Sciences, Inc., Takara Bio USA (a Takara Bio Company), Bio-Synthesis Inc., Agilent Technologies, Thermo Fisher Scientific, and New England Biolabs among others.
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