Biotechnology Reagent Market is expected to grow at a CAGR of 9.6% during the forecast period 2022-2030


The biotechnology reagents market is expected to grow with a CAGR of 9.6% during the forecast period of 2022-2030.  Biotechnology reagents can be defined as a chemical compound that promotes a biochemical reaction and gets consumed within the process. A diverse range of biochemical reagent are known for the identification of certain metabolomics as well as to differentiate between bacteria’s. For example, in gram staining crystal violet and safranin used to difference between gram positive and gram negative bacteria. Some of the finest examples of biotechnology reagents include Ellman’s reagent, N-Ethylmaleimide, Maltosides, 3-Azidocoumarin and so on. The global biotechnology reagent market has been driven by factors such as growth of biotechnology pharmaceuticals, increasing R&D expenditure in the biotechnology sector and rising number of biotechnology firms. On the other hand, high cost is restraining the growth of the industry.

Life science reagents is the major revenue generating segment in the technology segment. This segment is projected to attribute to the maximum revenuesand is expected to witnessa growth rate of 9.4% duringthe forecast period 2022-2030. High prevalence of genetic disorders such as cystic fibrosis, neurofibromatosis etc. coupled with its growing application in numerous sectors are the key driving forces for the life science reagents segment. In the U.S., approx. 30,000 individuals are living with cystic fibrosis in current scenario. Life science reagents are majorly employed in biosciences, pharmaceuticals, biotechnology and also in areas of education, research and diagnosis. Increase in number of clinics and hospitals that deploys PCR techniques have also attributed towards the growth of the life science reagents segment. Technological advancements in life science reagents techniques such as real time PCR and reverse transcriptase PCR have also added up towards the life science reagents segment growth.

Gene expression reagents are chemicals which are used in gene expression to study the gene expression pattern.This segment is to be the leading application in biotechnology reagents market. The growth of this segment is propelled by the rising prevalence of genetic disorders such as cystic fibrosis. This factor attributes towards the market growth of this segment.

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The top growing market segments include protein synthesis & purification, drug testing and analytical reagents with a CAGR of 9.8%, 9.8% and 9.4% during the forecast period. Protein Synthesis &Purification & drug testing applications to grow at highest CAGR of 10.3%. In the application segment, protein synthesis & purification and drug testing applications is expected to be witness the highest growth rate of 10.3% during 2022-2030 in comparison to other applications. The market for Protein Synthesis & Purification application, which is the second largest application of biotechnology reagents. Whereas drug testing applications is also emerging with 10.3% CAGR. Rising need for personalized medicines to cure chronic disease have attributed towards the growth of the biotechnology reagents in drug testing. As reagents are being used within the drug testing process for screening the drug sensitivity. One of the finest example of biotech reagents used for detection of cocaine in the blood is Cobalt Thiocyanate reagent.

In case of technology segment, analytical reagents have also witnessed impressive growth. Analytical grade reagents are said to be high purity reagents which are deployed for analytics and clinical purposes within the laboratories.These reagents are used for identification of molecules sorting of molecules and widely used in separation techniques. These grades have made its presence felt in numerous applications including DNA sequencing, genome testing etc. The analytical reagents market is expected to grow at a CAGR of 10.0% during 2022-2030. The increasing demand for high standard purity is to drive the market growth.

North America holds the largest revenue share of 47.9% in global biotechnology reagents market. The expected growth of the region is primarily driven by the increasing R&D expenditure and the high revenue generation from the biotechnology sector. Increasing R&D expenditure has widened the scope for the biotechnology reagents market in North America. North America biotechnology reagent market is expected to witness a growth rate of 9.3% during the forecast period 2022-2030. Moreover, the biotechnology reagent market in North America is driven by the research going on areas such as genome editing and treatment of rare diseases such as cancer and Alzheimer. CRISPR-Cas9—the revolutionary gene-editing technology—is being tested on humans. Researchers will remove T cells from cancer patients, genetically modify them, and then deliver the cells back to the patient, in an attempt to see if CRISPR is safe for use in people.The other key factors that has attributed significantly towards the growth of the North America biotechnology reagents market is the presence of high number of biotech R&D firms within the region.

The market is filled with huge number of companies, each of which is specialized into biotechnology reagents for specific purposes such as drug testing, gene expression etc. Some of the major companies involved in biotechnology reagents market are Danaher; Thermo fisher; Beckton, Dickinson & Company, Bio-Rad, Agilent Technologies and Abbott Laboratories. The competitive rivalry is high in the market due to availability of large number of companies such as Merck, Abbott. The small firms are also giving strong competition to large companies by active involvement in R & D activities and improving quality and cost. The companies are also using various strategies to expand their market share.

KEY MARKET MOVEMENTS

  • The biotechnology reagents market is expected to grow with a CAGR of 9.6% during the forecast period of 2022-2030.
  • This segment is projected to attribute to the maximum revenuesand is expected to witnessa growth rate of 9.4% during the forecast period 2022-2030.
  • The top growing market segments include protein synthesis & purification, drug testing and analytical reagents with a CAGR of 9.8%, 9.8% and 9.4% during the forecast period.
  • Protein Synthesis & Purification & drug testing applications to grow at highest CAGR of 10.3%.
  • In the application segment, protein synthesis & purification and drug testing applications is expected to be witness the highest growth rate of 10.3% during 2022-2030.
  • The analytical reagents market is expected to grow at a CAGR of 10.0% during 2022-2030. The increasing demand for high standard purity is to drive the market growth.
  • North America holds the largest revenue share of 47.9% in global biotechnology reagents market.
  • North America biotechnology reagent market is expected to witness a growth rate of 9.3% during the forecast period 2022-2030.
  • The market is filled with huge number of companies, each of which is specialized into biotechnology reagents for specific purposes such as drug testing, gene expression etc.
  • Some of the major companies involved in biotechnology reagents market are Danaher; Thermo fisher; Beckton, Dickinson & Company, Bio-Rad, Agilent Technologies and Abbott Laboratories.
  • The competitive rivalry is high in the market due to availability of large number of companies such as Merck, Abbott.

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