According to the latest report by IMARC Group, titled “Biotechnology Reagents Market Report by Technology (Life Science Reagents, Analytical Reagents), Application (Protein Synthesis and Purification, Gene Expression, DNA and RNA Analysis, Drug Testing, and Others), and Region 2023-2028,” the global biotechnology reagents market size reached US$ 78,719 Million in 2022. Biotechnology reagents refer to essential substances utilized in diagnostic, research, and experimental procedures within the biotechnology field. They facilitate specific biological reactions that aid in detecting, quantifying, and studying various biological entities and phenomena. Biotechnology reagents are predominantly composed of organic compounds or biological substances, such as enzymes, antibodies, and nucleic acids. They are classified into deoxyribonucleic acid (DNA) sequencing, cell culture, polymerase chain reaction (PCR), and immunoassay reagents. Biotechnology reagents exhibit properties such as high specificity, stable nature, and predictability in response. They are utilized in drug discovery and development, forensic testing, disease research, and genomic studies. Biotechnology reagents provide numerous benefits, including enhanced experimental efficiency, increased reliability in results, and cost-effectiveness when used at scale. Moreover, they save considerable research time, ensure precision, yield consistent outcomes, adapt to diverse tests, support rapid diagnostics, enhance reproducibility, and amplify sensitivity in assays.
Global Biotechnology Reagents Market Trends:
The exponential growth in the biopharmaceutical sector is one of the major factors creating a positive outlook for the market. In line with this, the widespread utilization of high-quality reagents that ensure precision in research as companies strive to discover novel drugs and therapies is bolstering the market growth. Additionally, the growing reliance on biotechnological processes owing to the escalating prevalence of diseases and the global focus on personalized medicine is positively influencing the market growth. Besides this, the increasing allocation of funds by academic and research institutions to biological research, leading to the consumption of reagents, is propelling the market growth. In addition, the widespread product utilization in genomics and proteomics for sequencing and protein analysis is anticipated to drive the market growth. Apart from this, rapid advancements in high-throughput screening, allowing researchers to conduct millions of biochemical, genetic, or pharmacological tests, are favoring the market growth. In addition to this, the rising establishment of contract research organizations (CROs) that offer research services on behalf of another organization, such as a pharmaceutical or biotechnological company, is acting as a growth-inducing factor. Furthermore, the implementation of governmental initiatives, fostering a conducive environment for biotechnological research, is providing remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 126,677 Million by 2028, expanding at a CAGR of 8.50% during 2023-2028.
- Based on the technology, the market has been divided into life science reagents (PCR, cell culture, hematology, in-vitro diagnostics, and others) and analytical reagents (chromatography, mass spectrometry, electrophoresis, flow cytometry, and others).
- On the basis of the application, the market has been classified into protein synthesis and purification, gene expression, DNA and RNA analysis, drug testing, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for biotechnology reagents.
- The competitive landscape of the market has also been examined, with some of the key players being Agilent Technologies Inc., Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories Inc., Illumina Inc., Lonza Group AG, Merck KGaA, Meridian Bioscience Inc. (SD Biosensor), PerkinElmer Inc., Promega Corporation, Thermo Fisher Scientific Inc., and Waters Corporation etc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Life Science Reagents: PCR, Cell Culture, Hematology, In-Vitro Diagnostics, Others
- Analytical Reagents: Chromatography, Mass Spectrometry, Electrophoresis, Flow Cytometry, Others
||Protein Synthesis and Purification, Gene Expression, DNA and RNA Analysis, Drug Testing, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Agilent Technologies Inc., Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories Inc., Illumina Inc., Lonza Group AG, Merck KGaA, Meridian Bioscience Inc. (SD Biosensor), PerkinElmer Inc., Promega Corporation, Thermo Fisher Scientific Inc., and Waters Corporation etc.
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