At 7.7% CAGR, Europe Transfection Reagents and Equipment Market is Projected to be Worth US$ 555.46 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe transfection reagents and equipment market was valued at US$ 306.04 million in 2022 and is expected to reach US$ 555.46 million by 2030, registering a CAGR of 7.7% from 2022 to 2030. Growing economic burden of cancer and ramping up small-scale processes to large-scale processes are among the critical factors attributed to the Europe transfection reagents and equipment market expansion.

According to the World Health Organization (WHO), cancer is one of the leading causes of death worldwide, and it accounted for ~10 million deaths in 2020. As per the International Agency for Research on Cancer, the global cancer burden is likely to increase with the addition of 30.2 million more cases by 2040. According to the Breast Cancer Organization, approximately 5-10% of breast cancer cases worldwide are hereditary and are caused by abnormal genes passed from generations. According to the article "Lifestyle, Genetic Risk and Incidence of Cancer," published in the International Journal of Epidemiology in 2023, nearly 33% of cancer conditions that occur are hereditary, and the risk of genetic mutations is high in the disease. Hence, people are opting for genetic profiling for the early detection and personalized treatment of hereditary cancer cases. BRCA1 and BRCA2 are sometimes referred to as tumor suppressor genes. People who inherit the harmful variants of one of these genes are at a greater risk of several cancers, most notably breast and ovarian cancer, among other types. These people also tend to develop cancer at younger ages compared to people who do not have variations in the said genes. Studies focused on nucleic acid processing by cancer cells are likely to help understand cancer metabolism. DNA is typically packaged into a viral or non-viral particle to be transferred into the cell that is to be transfected. Gene transfer has been proposed as a new approach to enhance the effectiveness of antitumor drugs in treating intractable or metastatic cancers. The association of gene therapy and drugs (similar therapy) has been reported to strengthen the antiproliferative effects of classical treatments in lung, colorectal, pancreatic, bladder, and breast cancers, among others. Thus, the elevating economic burden of cancer bolsters the Europe transfection reagents and equipment market.

On the contrary, high cost of instruments and consumables hampers the growth of Europe transfection reagents and equipment market.

Based on product, the Europe transfection reagents and equipment market is bifurcated into reagents and instruments. The reagents segment held 74.9% share of the Europe transfection reagents and equipment market in 2022, amassing US$ 229.09 million. It is projected to garner US$ 419.64 million by 2030 to expand at 7.9% CAGR during 2022-2030.

In terms of method, the Europe transfection reagents and equipment market is segmented into viral methods, non viral methods, and hybrid methods. The non-viral methods segment held 57.5% share of the Europe transfection reagents and equipment market in 2022, amassing US$ 176.00 million. It is estimated to garner US$ 323.30 million by 2030 to expand at 7.9% CAGR during 2022-2030. The viral segment is sub categorized into retrovirus, adenovirus, adeno associated virus, and herpes virus. The non-viral segment is bifurcated into physical/mechanical method and chemical method. Further, the physical/mechanical method segment is sub categorized into electroporation, microinjection, biolistic method, laser method, magnetofection, and sonoporation. Also, the chemical method segment is subcategorized into liposomal based/high lipid and non-liposomal/high lipid based.

By application, the Europe transfection reagents and equipment market is segmented into biomedical research, protein production, and therapeutic delivery. The biomedical research segment held 52.9% share of Europe transfection reagents and equipment market in 2022, amassing US$ 161.85 million. It is predicted to garner US$ 297.85 million by 2030 to expand at 7.9% CAGR during 2022-2030.

Based on end user, the Europe transfection reagents and equipment market is bifurcated into academics & research institutes and pharmaceutical & biotechnology companies. The academics & research institutes segment held 65.9% share of the Europe transfection reagents and equipment market in 2022, amassing US$ 201.56 million. It is projected to garner US$ 363.55 million by 2030 to expand at 7.7% CAGR during 2022-2030.

Based on country, the Europe transfection reagents and equipment market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The UK held 28.3% share of Europe transfection reagents and equipment market in 2022, amassing US$ 86.46 million. It is projected to garner US$ 160.34 million by 2030 to expand at 8.0% CAGR during 2022-2030.

Key players operating in the Europe transfection reagents and equipment market are Thermo Fisher Scientific Inc, Promega Corp, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Mirus Bio LLC, QIAGEN NV, Merck KGaA, Lonza Group AG, MaxCyte Inc, and Polyplus-Transfection SA, among others.

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