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The Global Biotechnology Reagents Market size is estimated to grow by USD 36,019.44 million at a CAGR of 7.51% between 2022 and 2027. Biotechnology reagents have a major role to play in diagnostic and therapeutic applications. In addition, the federal agencies investing in research ad development, the use of reagents in commercial applications, therapeutics, and basic research fields, and revolutionary innovations are leading the market growth. Vendors are consistently focussing on strategies such as joint ventures, mergers and acquisitions, partnerships, and other developments to improve their market share and expand their presence globally. In January 2022, Thermo Fisher completed its acquisition of PeproTech for a total cash purchase price of approximately USD 1,850.00 million.
Technavio has divided the biotechnology reagents market into three segments that are Technology, Application, and Geography. The technology segment is classified into chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others. The application segment is bifurcated into protein synthesis and purification, gene expression, DNA and RNA analysis, and drug testing. Under geography, key regions such as North America, Europe, Asia, and Rest Of World are included. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technology analysis is fragmented into five parts that are chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others. Based on technology, chromatography is leading the market growth. The chromatography segment was valued at USD 19,529.80 million in 2017 and continues to grow during the forecast period.
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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. 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 reagents, which propel the market growth.
Based on the application, there are four sub-segments that are protein synthesis and purification, gene expression, DNA and RNA analysis, and drug testing.
Gene expression 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, entered into an agreement 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 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Ongoing research in biological sciences, investments by various biotechnology companies, and high demand for biotechnology reagents, 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 and D expenditure, increasing research on 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.
The outbreak of COVID-19 led to a rise in the demand for biotechnology reagents in order to diagnose the coronavirus strains and for the development of possible treatments. Moreover, there has been continuous development in biotechnology in the region will propel the demand for biotechnology reagents.
There is high competition in the Biotechnology Reagents 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 biotechnology reagents where the presence of the virus can be detected by molecular RT-qPCR assay or by rapid antigen testing. For the biotechnology reagents market, the company also offers products for rhythm management, electrophysiology, heart failure, vascular, structural heart, and neuromodulation.
The biotechnology reagents market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Technavio’s report consists of a holistic analysis of the key development analysis, development stage, pipeline analysis, FDA approval, market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
There are multiple factors influencing the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
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 market growth. These entities are particularly interested in investing in areas such as proteomics, drug testing, high-throughput screening, combinatorial chemistry, and developing biotechnology reagents 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. 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 sciences. Biotechnology vendors' significant R&D investments have also been a driving force in market growth. For instance, Bio-Rad Laboratories invested USD 202.71 million and Thermo Fisher Scientific invested USD 1,003 million in R&D in 2019. In September 2022, Illumina invested in six genomics startups for the fifth global funding cycle of Illumina Accelerator in the San Francisco Bay Area and Cambridge, UK. The improvement of clinical laboratory services like immunology and allergy testing and rapid diagnostic testing require biotechnology reagents, which are fueling the market growth.
Increasing stem cell and biomedical research is a notable trend in the 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, provided by biotechnology reagents, are used in stem cell research to visualize cell and tissue lines.
Biomedical research aims to develop effective treatments by studying biological processes and disease mechanisms. Therefore, biotechnology reagents are utilized to enhance reactions or label DNA molecules for identifying specific nucleic acid sequences. Several prestigious universities worldwide, such as the Harvard Stem Cell Institute, the Oxford Stem Cell Institute (OSCI), the University for Stem Cell Biology and Regenerative Medicine, Stanford University, and Cambridge Stem Cell Institute, are actively researching stem cells and their potential benefits in medicine. Consequently, the continuous advancements in technology and increasing research in the fields of stem cells and biomedicine are driving the growth of the biotechnology reagents market.
Stringent regulations will notably restrain the market growth. Biotechnology reagents 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.
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The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biotechnology Reagents Market Customer Landscape
The biotechnology reagents market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Biotechnology Reagents Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.51% |
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Market growth 2023-2027 |
USD 36,019.44 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.89 |
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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 48% |
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Key countries |
US, Germany, France, China, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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., PerkinElmer Inc., Promega Corp., QIAGEN NV, Siemens AG, Sysmex Corp., Thermo Fisher Scientific Inc., Waters Corp., and Tosoh Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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