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The biotechnology reagents market size is projected to reach a value of USD 40.26 billion with a CAGR of 7.81% between 2023 and 2028. The growth of the market is driven by several key factors. A significant driver is the substantial investment by federal agencies in research and development, which fuels advancements in the biotechnology field. The use of reagents is expanding across various commercial applications such as agricultural biotechnology, therapeutics, and basic research areas, reflecting their critical role in scientific progress and innovation. Additionally, revolutionary innovations in biotechnology, including marine biotechnology, are further fuelling market growth. These strategic initiatives not only strengthen their competitive edge but also foster a dynamic and rapidly evolving market environment, ensuring continuous growth and development in the biotechnology reagents sector.
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The biotechnology reagents market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market share growth by the chromatography segment during the forecast period. Chromatography is a separation technique used for the purification and analysis of biomolecules and compounds between a mobile and stationary phase within a sample. It is used in life sciences, environmental testing, and food and beverage testing applications. Life science reagents encompass a broad spectrum of products, including biochemicals, antibodies, enzymes, buffers, stains, solutions, and other chemicals utilized in various biological and medical laboratory procedures.
The chromatography segment was valued at USD 20.58 billion in 2018 and continued to grow during the forecast period. Applications of life science reagents in molecular biology research these reagents are essential for DNA and RNA isolation, purification, amplification (PCR), DNA sequencing, cloning, and gene expression analysis. It is mostly used in the separation, quantification, and identification of low-concentrate drug analytes. Chromatography tests are required for the drug approval process, the growing need for the determination of chemicals present in the environment, government investments in chromatography technology, and rising collaborations between manufacturers and research laboratories are some of the factors augmenting the usage of chromatography instruments and biotech reagents industry, which propel the market growth during the forecast period.
Based on the application, four sub-segments are protein synthesis and purification, gene expression, DNA and RNA analysis, and drug testing. Genetic testing is the process by which the information encoded in a gene is turned into a function. The process of gene expression is carefully regulated, changing substantially under different conditions and cell types. The RNA and protein products of many genes serve to regulate the expression of other genes. There has been various R and D ongoing gene therapy by biotechnology companies. For instance, in February 2022, PerkinElmer announced that its SIRION Biotech business, a key player in viral vector-based gene delivery technologies for gene and cell therapy and vaccine development, and the Centre for Genomic Regulation (CRG), an international biomedical research center of excellence Spain, agreed to jointly develop new generation adeno-associated virus (AAV) vectors for type 1 and type 2 diabetes gene therapy in the pancreas. Thus, the growing R and D for gene therapy is expected to drive gene expression and, in turn, the market in focus during the forecast period.
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North America is estimated to contribute 51% to the growth of the global biotechnology reagents market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period in this market report.
Ongoing research in biological sciences, investments by various biotechnology companies, and high demand such as column chromatography for drug testing, are a few of the factors driving market growth in the region. In addition, government initiatives and federal laws, such as the Patient Protection Affordable Care Act (PPACA) and Health Information Technology for Economic and Clinical Health (HITECH) Act, and innovations in the biotechnology sector drive market growth in the region.
The market is primarily driven by the growing pharmaceutical and biotechnology industry, ever-increasing R&D expenditure, increasing research on immunology and molecular biology, rising funding from government agencies, such as the National Institutes of Health (NIH) and the National Science Foundation (NSF) toward life science-based research, as well as the rising demand for biopharmaceuticals. Hence, such factors are driving the market in North America during the forecast period.
The market is experiencing rapid growth driven by advancements in molecular biology, gene therapy, and synthetic biology. Testing kits and cytometry-based methods are essential tools for genomic sequencing and high-throughput sequencing, facilitating research in genetics, immunology, and educational applications. PCR-based techniques and SSCP analysis play a crucial role in molecular diagnostics, while chromatography and spectrometry enable precise analysis of nucleic acids and proteins. Electrophoresis is pivotal in DNA analysis, while life science reagents and analytical reagents support various applications in cell culture, IVD, and expression and transfection studies. With increasing demand from drug manufacturing companies, agricultural industries, and biotechnology firms, the Market continues to expand, offering essential tools for bioscience research and innovation.
Large sums of money are being invested in research and development activities by biotechnology companies and research organizations to enhance the quality and standards of their products, which is driving biotechnology reagents market growth. These entities are particularly interested in investing in areas such as proteomics, drug testing, high-throughput screening, combinatorial chemistry, and development that are environmentally friendly and innovative. The United States National Institutes of Health (NIH) is the primary funding source for both basic and applied research, investing around USD 3,700.3 million in universities and research institutes annually.
Moreover, Federal agencies, including the NIH and the National Science Foundation (NSF), provide financial support to improve research in the life sciences sector, resulting in progress in stem cell research and molecular life science reagents market. The life science reagents market refers to the sector within the life sciences industry that involves the manufacturing, distribution, and sale of various reagents used in biological and medical research, diagnostics, drug discovery, and other scientific applications. Biotechnology companies' significant R&D investments have also been a driving force in market growth. The development and availability of specialty contribute significantly to the advancement of biotechnology and life sciences research.
Increasing stem cell and biomedical research is a notable trend in the biotechnology reagents market. Stem cells possess the remarkable ability to self-renew or differentiate into various cell types, making them valuable for tissue repair, replacement, and regeneration applications. Human embryonic stem cells are particularly important in medical research for studying disease targets and pathways, identifying and validating new drug targets, and generating pharmacology and toxicology data.
Additionally, stem cells are used in drug development to facilitate personalized medicine. Biomarkers are used in stem cell research to visualize cell and tissue lines. Some of the latest innovations include, continued advancements in CRISPR-Cas technology have led to improved gene editing tools and reagents. With the growing interest in single-cell analysis, new reagents and kits have been developed to isolate, sequence, and analyze individual cells. Innovations in antibody development involve creating monoclonal antibodies with high specificity and affinity for their targets Consequently, the continuous advancements in technology and increasing research in the fields of stem cells and biomedicine are driving the growth during the forecast period.
Stringent regulations will notably restrain biotechnology reagents market growth. They serve as components that facilitate biochemical reactions in biological processes. However, their usage in activities such as protein purification, drug testing, gene expression, and RNA and DNA analysis can result in microbial contamination and toxicity. As a result, government regulations are implemented to ensure the safety of these reagents.
Numerous regulatory bodies have been established to guide biotechnology reagent manufacturers and marketers. For example, the FDA and EU authorities play critical roles in approving these reagents. The approval process involves fulfilling many stringent regulations and requirements. It becomes challenging for manufacturers to conduct validation studies without the authorization of regulatory authorities because analytical studies involve real-time sample collection. Hence, such factors are hindering the market during the forecast period.
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The biotechnology reagents market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the biotechnology reagents market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
There is high competition in the market. Among several market players, the organization Abbott Laboratories stands out among the competitors due to technological innovation and the on-point marketing strategy.
Abbott Laboratories- The company offers where the presence of the virus can be detected by molecular RT-qPCR assay or by rapid antigen testing. For the market, the company also offers products for rhythm management, electrophysiology, heart failure, vascular, structural heart, and neuromodulation.
This biotechnology reagents market analysis and report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Biotech lab consumables refer to the various supplies and materials used in laboratories engaged in biotechnology-related research, diagnostics, experimentation, and manufacturing processes. Biotech lab consumables are crucial components necessary for the smooth functioning and day-to-day operations within biotech laboratories. Various companies are offering lab consumables including PerkinElmer, Danaher and Thermofisher INC. Biotech lab consumables are crucial for experiments, maintaining sterility, conducting tests, ensuring accurate measurements, and supporting procedures within the biotech laboratory setting.
The biotechnology reagents market is witnessing significant growth driven by advancements in synthetic biology, genomic sequencing, and high-throughput sequencing technologies. Testing kits and cytometry-based methods are essential tools in healthcare, food and agriculture, and industrial processing, facilitating nucleic acid isolation and detection across various segments such as diabetes, cancer, and infectious diseases. Genome engineering and amplification kits play a pivotal role in drug discovery and development, enabling precise manipulation of nucleic acids labelling for targeted therapies. Next-generation sequencing technologies are revolutionizing research in the RNA and DNA segments, offering insights into the genetic makeup of micro-organisms, viruses, and bacteria. Overall, the biotechnology reagents market plays a critical role in advancing research and development across various scientific disciplines, contributing to progress in healthcare, drug discovery, and molecular biology. Immunohistochemistry, flow cytometry, and spectrometry are essential techniques in biochemistry and metabolism studies, supported by a wide range of research reagents and laboratory reagents.
Point-of-Care testing services are gaining traction in on-site diagnostics, offering rapid and accurate results for various applications, including liquid biopsy and clinical chemistry. The biotechnology reagents market encompasses a wide range of applications, including genetics, educational research, immunology, and PCR-based techniques. Key participants in this market include both biotechnology firms and drug manufacturing companies. These companies rely on advanced reagents and instruments to drive innovation and research in their respective fields. In the genetics sector, reagents are crucial for genetic analysis and research, while in immunology, they are essential for protein and antibody analysis. PCR-based techniques depend heavily on these reagents for DNA amplification and diagnostic purposes. In the agricultural industry, SSCP analysis and AFLP analysis facilitate test reading and IVD applications, contributing to advancements in agri-biotech and food and beverages industries. With the increasing demand for analytical reagents and expression and transfection technologies, the market continues to drive innovation and progress in biotechnological research and applications.
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Market Scope |
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Report Coverage |
Details |
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Page number |
196 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.81% |
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Market growth 2024-2028 |
USD 40.26 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.25 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 51% |
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Key countries |
US, China, Germany, France, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., bioMerieux SA, Danaher Corp., F. Hoffmann La Roche Ltd., Illumina Inc., Lonza Group Ltd., Merck KGaA, Meridian Bioscience Inc., New England Biolabs Inc., Perkin Elmer Inc., Promega Corp., QIAGEN NV, Siemens AG, Sysmex Corp., Thermo Fisher Scientific Inc., Tosoh Corp., and Waters Corp. |
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Market dynamics |
Parent market analysis, market trends and analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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