Merck KGaA (Germany), Thermo Fisher Scientific (US), and Promega Corporation (US) are the leading players in the Reporter Gene Assays Market
The global reporter gene assays market is projected to reach USD 2.6 billion by 2024 from USD 1.6 billion in 2019, at a CAGR of 10.1%. Growth in this market is driven by increasing funding for cell-based research, the growing applications of gene expression, and a rising preference for cell-based assays. However, the high cost of cell biology research is expected to restrain the growth of this market to a certain extent during the forecast period.
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.
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Merck is the leading player in the reporter gene assays 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. In this regard, in 2018, the company invested USD 19 million in its new manufacturing and distribution center for the life science business in India. Similar investments have been made by the company in the last few years. The acquisition of Sigma-Aldrich significantly enhanced the company’s global presence and broadened its portfolio in the reporter gene assays market.
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. Moreover, its significant investment in R&D enables it to provide innovative products in the market space, thus enabling it to maintain and improve its competitive position in the reporter gene assays market. Thermo Fisher also focuses on geographic expansions. In line with this, the firm has opened its new GMP facilities in the US and South Korea in 2016. Moreover, the company aims to strengthen its presence in selected geographies in the Asia Pacific region, undertaking various organic and inorganic growth strategies.
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.
Related Reports:
Reporter Gene Assay Market by Reagents & Assay kits (Luciferase, Green Fluorescent Protein, â-glucuronidase, â-galactosidase), Application (Gene Regulation, Protein Interaction, Cell Signalling Pathways), End Users, Region - Global Forecast to 2024
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