Overview and Scope
Biotechnology reagents refer to chemical compounds that are used in detecting, measuring, and preparing a product, and others by facilitating chemical. Biotechnology reagents are used in the quantification and detection of desired substances, as the binding of reagents to the substance or other related substances triggers certain reactions.
Sizing and Forecast
The biotechnology reagents market size has grown strongly in recent years. It will grow from $78.82 billion in 2023 to $86.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rise in biopharmaceutical development, genomics and proteomics research expansion, drug discovery and development, increasing life sciences research funding, global focus on precision medicine.
The biotechnology reagents market size is expected to see strong growth in the next few years. It will grow to $124.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to single-cell analysis techniques, expansion of synthetic biology, rising importance of glycomics, expansion of cell culture applications, biobanking and biorepository growth, global response to health crises. Major trends in the forecast period include rapid advancements in biotechnology research, technological advances in flow cytometry, focus on stem cell research, demand for crispr-cas9 reagents, customized and specialty reagents, focus on quality control and standardization.
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Segmentation & Regional Insights
The biotechnology reagents market covered in this report is segmented –
1) By Type: Life Science Reagents, Analytical Reagents,Other Reagents
2) By Applications: Protein synthesis and purification, Gene expression, DNA and RNA analysis, Drug testing
3) By End-Users: Biotech companies, Research institutes, Pharmaceuticals, Diagnostic centers, Academic Institute, Other End-Users
North America was the largest region in the biotechnology reagents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biotechnology reagents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for polymerase chain reaction (PCR) is expected to propel the growth of the biotechnology reagents market going forward. Polymerase chain reaction (PCR) refers to the molecular technique that is used to amplify smaller segments of DNA into large segments used to diagnose certain infectious diseases and study genetic changes. For polymerase chain reaction (PCR), biotechnology reagents are used to maintain a stable pH during the PCR process to ensure proper DNA synthesis function, which can later be used for various genomic studies and diagnosis purposes. For instance, in July 2021, Weqaya UAE, a UAE-based national agency for awareness and reassurance under the supervision of the National Crisis & Emergency, conducted more than 60 million RT-PCR tests across the emirates due to its capabilities in detecting infections in a shorter period of time. The UAE health officials increased the number of tests per day from an average of 10,000 by the end of March 2020 to 120,000 in November and more than 270,000 in July 2021 as part of measures to combat the pandemic. Therefore, the rising demand for polymerase chain reaction (PCR) is driving the growth of the biotechnology reagents market.
Key Industry Players
Major companies operating in the biotechnology reagents market report are Life Technologies Corporation, Abbott Laboratories, Abcam plc, Agilent Technologies Inc., Beckman Coulter Inc., Becton Dickinson and Company, BioLegend Inc., bioMérieux SA, Bio-Rad Laboratories Inc., Bio-Techne Corporation, Cell Signaling Technology, Danaher Corp., General Electric incorporated, Hoefer Inc., Illumina Inc., Lonza Group Ltd., Merck KGaA Group, Meridian Bioscience Inc., Millipore Corporation, New England Biolabs Inc., Novus Biologicals LLC, PerkinElmer Inc., Promega Corporation, Quality Biological Inc., Roche Holding AG, Siemens Healthineers AG, Sigma-Aldrich Corp., Sysmex Corporation, Takara Bio Inc., Thermo Fisher Scientific Inc., Tosoh Corporation, Water Corporation
The biotechnology reagents market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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