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The biotechnology reagents market size is projected to reach a value of USD 36,019.44 million with a CAGR of 7.51% between 2022 and 2027. One of the key factors driving the growth of the market is that federal agencies are investing in research and development, the use of reagents in commercial applications, therapeutics, basic research fields, and revolutionary innovations. Companies 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.
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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 continued 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. 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.
Applications of life science reagents in molecular biology research these reagents are essential for DNA and RNA isolation, purification, amplification (PCR), 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.
Based on the application, four sub-segments 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, 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 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 in this market report.
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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 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.
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 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.
Key Driver
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 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. 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 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:
Consequently, the continuous advancements in technology and increasing research in the fields of stem cells and biomedicine are driving the growth.
Stringent regulations will notably restrain the 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.
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The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Global Market Customer Landscape
The Global Biotechnology Reagents Market is witnessing substantial growth driven by the increasing demand for biotechnological reagents across various sectors. Primarily used for academic research purposes and in the biotechnology instrumentation market, these reagents hold significant market value and are segmented based on their applications and types, covering a wide geographical coverage. The current market scenario is subject to expert analysis, incorporating factors such as patient epidemiology, pipeline analysis, and pricing analysis. With a stringent regulatory framework, advancements in genetics and immunology drive the demand, attracting numerous biotechnology players and firms.
Key technologies like polymerase chain reaction (PCR) and its variants, such as PCR reagents, including PowerTrack SYBR Green PCR Master Mix, are pivotal, especially in the pharmaceutical sector for pre-screening analysis and viral disorders diagnosis. Additionally, the market witnesses innovation in real-time PCR workflows, including Dye-based SYBR Green real-time PCR (qPCR) portfolio, catering to emerging areas like stem cell biology and regenerative medicine, thereby fostering growth in the cell therapy business and attracting skilled professionals.
This market trends and analysis 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.
Biotechnology Reagents Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.51% |
Market growth 2023-2027 |
USD 36,019.44 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.89 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 48% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market growth and trends, 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 |
Customization purview |
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