Global Biotechnology Reagents Market, By Technology (Life Sciences, Analytical), Applications (Protein Synthesis and Purification, Gene Expression, DNA and RNA Analysis, Drug Testing) – Industry Trends and Forecast to 2029.
Global Biotechnology Reagents Market Analysis and Size
The biotechnology reagents market is expected to witness significant growth during the forecast period. The biotechnological reagents play a major role in the age of rapid research, discovery, and publication in the industry and academic research purposes. The demand for biotechnology reagents is primarily dependent upon the growth of the biotechnology instrumentation market. In the pandemic era, the growth of several analytical tests used for Covid-19 has also boosted the market's expansion.
Data Bridge Market Research analyses a growth rate in the biotechnology reagents market in the forecast period 2022-2029. The expected CAGR of global biotechnology reagents market is tend to be around 12.20% in the mentioned forecast period. The market was valued at USD 338.00 million in 2021, and it would grow upto USD 848.91 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Biotechnology reagents are used in diagnostics, molecular biology, bioscience, genetics, educational research applications and immunology. The biotechnology reagents industry relies on the market growth of biotechnology instruments. Increasing investment in R&D by major biotechnology players and a growing number of biotechnology firms worldwide is expected to fuel the market. Besides, factors boosting the growth of this market are the growing use of biotechnology reagents in therapeutics, basic research and their commercialization. Continuous product development in the agricultural and pharmaceutical industries has a positive impact on the global market.
Global Biotechnology Reagents Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Million, Volumes in Units, Pricing in USD
By Technology (Life Sciences, Analytical), Applications (Protein Synthesis and Purification, Gene Expression, DNA and RNA Analysis, Drug Testing)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Abbott (U.S.), Agilent Technologies Inc. (U.S.), Danaher (U.S.), BD (U.S.), Bio-Rad Laboratories Inc. (U.S.), General Electric (U.S.), bioMérieux SA (France), LONZA (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Hoefer, Inc. (U.S.), PerkinElmer Inc. (U.S.), Merck KGaA (Germany), Promega Corporation (U.S.), Quality Biological (U.S.), Siemens (Germany), Bio-Techne (U.S.), TAKARA HOLDINGS INC. (Japan), Sysmex Corporation (Japan), Tosoh Corporation (Japan), Ortho Clinical Diagnostics (U.S.), Olympus Corporation (Japan)
Global Biotechnology Reagents Market Dynamics
- Rising Demand for Polymerase Chain Reaction (PCR)
Pre-screening analysis has often been carried out using PCR-based techniques. Single-stranded conformation polymorphism (SSCP) analysis and amplified fragment length polymorphism (AFLP) analysis are two PCR-based techniques that are frequently used in laboratories to screen for a variety of viral and chronic disorders. The advancement of PCR reagents has kept pace with how widely PCR techniques are being applied.
- Launch of New Products
Several new products are launching that are creating a positive impact on the market trend. Players in the market frequently introduce new products to obtain an edge over rivals. For instance, in March 2020, Thermo Fisher Scientific introduced PowerTrack SYBR Green PCR Master Mix, a pre-formulated, universal, 2X concentration Master Mix for real-time PCR workflows with built-in visual dye-based indicators for precise reaction set up. This was done to expand its Dye-based SYBR Green real-time PCR (qPCR) portfolio.
- Rising R&D Expenditure By Biotechnology Firms
Several biotechnological firms are setting up their research and investing hard for launch of many new products. For instance, The Department of Biotechnology received Rs. 2,581 crore (USD 343.56 million) in the Union Budget 2022–23 for the development of fundamental infrastructure, genetic engineering, technologies and bioinformatics, agricultural biotechnology, and training qualified professionals, according to a May 2020 update by the India Brand Equity Foundation (IBEF). This is expected to increase the quantity of product development-related research and development activities.
- Increase in Stem Cell Research
Many firms in the pharmaceutical sector are employing stem cells to assess the toxicity of medications, which enables them to find novel remedies. Drug manufacturing companies have started this study. For instance, The Stem Cell SpaceShot Grant, a $100,000 research grant in the fields of stem cell biology and regenerative medicine, was introduced by the cell therapy business TreeFrog Therapeutics in May 2022, according to the International Society of Stem Cell Research. Reagents get a large portion of funding for stem cell research since their characterisation and modification, along with instruments for evaluating stem cell findings, play a crucial role. There are various businesses on the market that are only focused on creating reagents that are suitable for cell-line investigations.
- Lack of skilled professionals
The lack of qualified personnel who are unable to use these reagents in the appropriate experiments could curb the growth of the global biotechnology reagents market over a forecast period.
- High Cost
The huge expenditure required for developing these reagents surely hamper the market growth. Several market players make huge investment in installing new and advanced machines to faster the process and in return the cost is increased.
This global biotechnology reagents market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global biotechnology reagents market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Biotechnology Reagents Market
Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period.
Due to the recent COVID-19 pandemic, increasing demand for the clinical diagnostic market segment has positively impacted the PCR reagent market. Almost all diagnostic tests use RT-PCR to test populations with COVID-19 symptoms and recommended by medical professionals to undergo diagnostic tests, as authorities do not recommend virus culture tests.
Global Biotechnology Reagents Market Scope
The global biotechnology reagents market is segmented on the basis of technology and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Life Sciences
- Protein Synthesis and Purification
- Gene Expression
- DNA and RNA Analysis
- Drug Testing
Biotechnology Reagents Market Regional Analysis/Insights
The global biotechnology reagents market is analysed and market size insights and trends are provided by technology and applications as referenced above.
The major countries covered in the biotechnology reagents market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the biotechnology reagents market because of the soaring capital spending, new product advancements, existence of suitable government strategies and modern healthcare foundation. Furthermore, the Achievement of human genome plan and the extreme need for chemicals in molecular biology sector further boosts the growth of the biotechnology reagents market in the region. Asia-Pacific is anticipated to observe significant amount of growth in the biotechnology reagents market because of the growing of the research and outsourcing actions in life science field.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Biotechnology Reagents Market Share Analysis
The global biotechnology reagents market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global biotechnology reagents market.
Key players operating in the global biotechnology reagents market include:
- Abbott (U.S.)
- Agilent Technologies Inc. (U.S.)
- Danaher (U.S.)
- BD (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- General Electric (U.S.)
- bioMérieux SA (Frnace)
- LONZA (Switzerland)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Hoefer, Inc. (U.S.)
- PerkinElmer Inc. (U.S.)
- Merck KGaA (Germany)
- Promega Corporation (U.S.)
- Quality Biological (U.S.)
- Siemens (Germany)
- Bio-Techne (U.S.)
- TAKARA HOLDINGS INC. (Japan)
- Sysmex Corporation (Japan)
- Tosoh Corporation (Japan)
- Ortho Clinical Diagnostics (U.S.)
- Olympus Corporation (Japan)