The Europe transfection reagents and equipment market size is valued at USD 240.63 million in 2023. It is predicted to grow at a CAGR of 7.8% during the forecast period and reach USD 350.30 million by 2028.
The growing cancer patient population in Europe is one of the key factors driving the growth of the Europe transfection reagents and equipment market. Cancer is a leading cause of mortality across Europe and has seen a substantial increase in the number of new cases reported in 2020, with approximately 4 million cases. Factors such as increasing smoking rates, alcohol consumption and lifestyle changes contribute to the prevalence of cancer among the population. Cancer cells exhibit unique metabolic characteristics, including increased glucose levels, which fuel their rapid growth. Understanding cancer metabolism involves studying the processing of nucleic acids within cancer cells. In laboratory settings, this process can be simulated through transfection which involves the packaging of DNA into viral particles for cell transfer.
The growing utilization of transfection technology in the life science sector in Europe further contributes to the growth of the European market. Transfection plays a crucial role in introducing foreign nucleic acids into laboratory cell cultures and enables the study of various nucleic acid types such as DNA and RNA in mammalian cells. The growing investments in research and development, strong government support and increasing engagement from the biopharmaceutical sector contribute to the ongoing development of advanced transfection equipment and reagents. Such factors are predicted to support the European market growth.
The rising emphasis on genetic research such as gene therapy and gene editing fuels the demand for transfection reagents and equipment in Europe and drives the regional market growth. The favorable regulatory environment in Europe promotes research and development activities in the field of transfection reagents and equipment, the growing number of collaborations between academic institutions, research organizations, and industry players and growing investments in the biopharmaceutical sector such as gene-based therapies and personalized medicine propel the European transfection reagents and equipment market growth.
Stringent regulatory requirements, high costs associated with transfection reagents and equipment and limited availability of skilled personnel primarily hamper the growth of the European market growth. Limited awareness and understanding of transfection techniques, challenges in achieving high transfection efficiency and low cytotoxicity and the competition from alternative gene delivery methods hinder the European market growth. Uncertain reimbursement policies for gene-based therapies is another significant roadblock to the growth rate of the European market.
This research report on the Europe transfection reagents and equipment market has been segmented and sub-segmented into the following categories.
By Product:
By Method:
By Application:
By End User:
By Country:
The European region accounted for the major share of the global transfection reagents and equipment market in 2022 and is anticipated to hold a substantial share of the worldwide market throughout the forecast period. Germany held the leading share of the European market in 2022 and is expected to grow at a healthy CAGR during the forecast period owing to the increased investments in laboratory procedures for research and a growing number of laboratory centers. The rising prevalence of genetic disorders and the growing number of initiatives by the German government to approve and advance the development of transfection reagents and equipment further fuel the growth rate of the German market. The UK is predicted to witness a promising CAGR during the forecast period owing to the presence of several market participants, a rising number of clinical therapies and biological research and an increasing number of collaborations and partnerships drive the German market growth.
KEY MARKET PLAYERS:
Thermo Fisher Scientific Inc., Promega Corporation, Hoffmann-La Roche Ltd. (Switzerland), QIAGEN N.V. (Netherlands), Bio-Rad Laboratories, Lonza Group (Switzerland), Sigma-Aldrich Corporation, Mirus Bio LLC and MaxCyte Inc. are some of the major companies in the European transfection reagents and equipment market.
Frequently Asked Questions
Factors driving the growth of the Europe Surgical Equipment Market include the increasing number of surgical procedures, advancements in surgical technology, growing geriatric population, and rising prevalence of chronic diseases requiring surgical interventions.
Several countries in Europe have a significant presence in the surgical equipment market, including Germany, France, the United Kingdom, Italy, and Spain.
Major challenges faced by the Europe Surgical Equipment Market include the high cost of surgical equipment, stringent regulatory requirements, concerns regarding the safety and efficacy of certain devices, and limited healthcare budgets in some countries.
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