The global Biotechnology Reagents Market accounted for USD 77.4 Billion in 2020 and is expected to reach USD 159.2 Billion by 2028, growing at a CAGR of around 9.4% between 2021 and 2028.
The global Biotechnology Reagents market accounted for USD 77.4 Billion in 2020 and is expected to reach USD 159.2 Billion by 2028, growing at a CAGR of around 9.4% between 2021 and 2028.
Biotechnology reagents are compounds or substances used to synthesize, analyse, or detect the presence of another material to enable test reading in the fields of diagnosis, genetics, analysis, molecular biology, education, immunology, and bioscience. Fluorescence microscopy, DNA analysis, immuno phenotyping, and cell cycle analysis are some of the applications of biotechnology reagents. In the time of increasing research, exploration, and publishing in industry and academic research, biotechnological reagents play an important role. Several advanced research are being performed in healthcare-related labs, where a lot of study focuses around genes, proteins, peptides, antibodies, and cell lines, resulting in a high demand for biotechnological reagents.
Biotech industries' comprehensive R&D activities would fuel demand for biotechnology reagents even more. Biotechnology reagents industry growth is expected to be boosted in the coming years by consistent product advancement in the food & beverage, agro-biotech, and pharmaceuticals industries.
COVID-19 Impact Analysis
The global biotechnology reagents market has witnessed a slight decline in the growth for short term to the lockdown enforcement placed by governments in order to contain COVID spreading. But, to avoid contamination, the lockdown compliance procedures advised R&D staff as well as clinical trial researchers to stay home. This impacted on the use of biotechnology reagents and hence its production and supply.
The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand of auto parts of the vehicles. The market would remain bullish in upcoming year. The significant decrease in the global biotechnology reagents market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
Biotechnology reagents are being used in a wide range of areas, including basic science, biomedical research, and therapeutics. Furthermore, biotech companies' significant R&D budgets would fuel demand for biotechnology reagents. Various sectors, such as pharmaceutical/biopharmaceutical, agri-biotech, and food and beverages, are constantly developing new products, which is expected to help the market expand. However, that biopharmaceutical product costs, as well as significant R&D spending, are expected to obstruct the growth of the biotechnology reagents industry in the coming years.
Technology Segment Analysis Preview
Chromatography is a separation technique that is primarily used in drug development to verify drug precision, sensitivity, and purity. Chromatography is expected to witness a strong market share of around 30 % share of the total market share because for drugs and biologics, it's often used to validate analytical techniques and processes. Since chromatography methods are widely used around the world, demand for their reagents is still strong for a variety of pathological and academic applications. Additionally, expanded support for biotechnology research is helping to drive segment expansion.
Application Segment Analysis Preview
Protein synthesis is the development of new proteins by biological cells. The measures that involve an active gene product may be a target of regulatory bodies in most gene sequencing. For nucleic acid detection and biotech applications, DNA and RNA chromatography is widely used. Drug testing is one of the most popular uses for biotech reagents. The biotechnology reagents demand is expected to be driven by all of these applications, drug testing holding the largest market share.
Key Market Players & Competitive Landscape
Some of the major players of global Biotechnology Reagents market includes Abbott, Beckman Coulter, Agilent Technologies Inc., Water Corporation, Bio-Rad, Roche, Sigma-Aldrich, Life Technologies, Betcon Dickinson and Thermo Fisher Scientific and amongst Gene expression.
The global biotechnology reagents market is segmented as follows:
This report is based on in-depth qualitative and quantitative analyses of the global Biotechnology Reagents market. Zion Research has collected and analyzed key data belong to the global Biotechnology Reagents market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Biotechnology Reagents across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Biotechnology Reagents industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Biotechnology Reagents market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
The reagent can be a compound, substance or mixture, used for testing the presence of another compound or substance in the solution by chemical reaction. Reagents can be organic or inorganic depends on the composition. Grignard reagent Fenton's reagent and Collins reagent are the examples of organic reagents. Biotechnology reagents are used to detect other compound or substance present in the biological solutions. Biotechnology reagents are utilized in the field of bioscience, diagnosis, research, and education.
The increase in R&D expenditure by biotechnology firms witness the growth biotechnology reagent market. Biotechnology reagents are used in basic research, therapeutics, biomedical and commercialization and constant product development by the food and beverage. Pharmaceuticals and agro-biotech trigger the demand for biotechnology reagent market. Conventional techniques such as combinatorial chemistry, DNA chips, high through put screening and proteomics likely contribute to the splendid growth of biotechnology reagent market. However, the high cost of biopharmaceutical products and huge research and development expenditure hinder the growth of biotechnology reagent market. Widespread environment applications and untapped opportunities are likely to open new market avenues in the near future.
The biotechnology reagent market can be segmented on the basis of technology, application, end-user and region. Technology segment includes chromatography, electrophoresis, PCR, mass spectrometry, flow cytometry, expression, and transfection. Tissue culture and chromatography reagents are expected to exhibit strong growth in the estimated period due to numerous inventions in biotechnology industries. Applications of biotechnology reagents can be segmented into DNA & RNA analysis, protein purification, drug testing, and gene expression. Protein purification followed by drug testing and gene expression hold the highest share in 2014 due to immense demand from life science stream for developing new products. The end users for biotechnology reagents include biotech companies, pharmaceuticals, research institutes and diagnostic centers among others. Biotech companies emerged as potential segment due to high demand for R&D section.
The biotechnology reagents market has been classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. With the largest shares in total consumption, biotechnology reagent market was dominated by North America in 2014. This region is expected to be the fastest-growing market in near future owing to the development of new products, government support, advanced healthcare sector and large investments for biotechnology reagents. This growth was mainly supported by U.S. due to successfully completion of human genome project and increased use of reagents in molecular biology. Moreover, biotechnology reagents market in Asia Pacific is likely to witness high growth during the forecast period because of the rise in R&D sector.
Some of the key players for the biotechnology reagents market include Abbott, Beckman Coulter, Agilent Technologies Inc., Water Corporation, Bio-Rad, Roche, Sigma-Aldrich, Life Technologies, Betcon Dickinson and Thermo Fisher Scientific among others.
The global biotechnology reagents market was valued at USD 77.4 billion in 2020.
The global biotechnology reagents market is expected to reach USD 159.2 billion by 2028, growing at a CAGR of 9.4% between 2021 to 2028.
Biotech companies' significant R&D budgets would fuel demand for biotechnology reagents. Various sectors, such as pharmaceutical/biopharmaceutical, agri-biotech, and food and beverages, are constantly developing new products. All these aforementioned factors are likely to spur the market growth.
Because of the booming pharmaceutical industry and rising government investment in life science-based research, North America is predicted to have the largest market share by 2028. Due to massive investment of life science-based studies by government institutions, the United States region leads the industry. Over the forecast period, Asia-Pacific also has encouraging growth potential.