Market Size of Transfection Technologies Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Transfection Technologies Market Analysis
The market for transfection technologies is expected to grow at a CAGR of about 9.1% over the next few years.
The COVID-19 pandemic had a significant impact on the market studied. There had been increasing research on coronavirus and its spread during the pandemic. Transfection, the process that enables the delivery of nucleic acids into cells to overexpress a protein of interest and/or inhibit gene expression, contributed significantly to the development of novel strategies to cope with COVID-19. Companies such as Polyplus supported COVID-19 research by providing innovative transfection reagents for gentle yet efficient delivery into cells. Owing to the movements of such companies, there was a high utilization of transfection technologies, which impacted the market positively. However, currently, the market is in its pre-pandemic state and is expected to witness healthy growth in the coming years.
The market is growing because of things like the rise in chronic diseases and the increase in research and development in the field of cell-based therapies.
According to the Centers for Disease Control and Prevention's March 2022 publication, six out of every ten adults in the United States have a chronic disease, and four out of every ten adults have two or more chronic diseases. Chronic diseases, such as cancer, chronic lung diseases, kidney diseases, arthritis, and many more, are the leading causes of death and disability and the leading drivers of the nation's USD 4.1 trillion in annual healthcare costs. With the increasing burden of chronic diseases across the globe, there is a rising need for better therapeutics, for which various technologies have been developed. Transfection is one of the technologies that is being used largely to cope with chronic diseases. Since chronic diseases are so common, it is thought that the use of transfection technology will help the market grow in the coming years.
According to the American Cancer Society, the number of new cancer cases in the United States in 2021 is expected to be 1.9 million, with 608,570 cancer deaths.Since there are more and more people with chronic diseases like cancer, there will be more research into treatments for these diseases, which is thought to help the market grow.
But in the coming years, the growth of the market is likely to be slowed by the high cost of transfection technology instruments.
