The “Biotechnology Reagents & Kits Market Size, Share, Trends, and Growth Analysis Report By Technology: PCR, Cell Culture, LAMP, Chromatography, Sequencing, Flow Cytometry, Electrophoresis, and Others; By Kits Type: Amplifications Kits, Isolation Kits, Purification Kits, Detection Kits, and Others; By Micro-Organisms: Virus, Bacteria, Fungi, and Parasites; By Tested Parameters: RNA, DNA, Enzymes, Proteins, and Others; By End Use Healthcare, Food & Agriculture, Industrial Processing, Natural Resource & Environment, Others, by Region, and Segment Forecasts, 2022-2030″ report has been added to Precedence Research’s offering.
The global biotechnology reagents & kits market size is forecasted to reach from US$ 338 billion in 2021 to US$ 890.01 billion by 2030, growing at a CAGR of 11.4% from 2022 to 2030.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2022 to 2030. The biotechnology reagents & kits market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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Various factors such as increased research activities related to stem cell, growing number of biotechnology companies, and rising investments by the biotechnology firms are the significantly driving the growth of the global biotechnology reagents & kits market. The Government of Australia launched a mission in 2019 and announced to invest around US$ 150 million during the period of 9 years, to support the research activities related to stem cell in order to develop medicines for the incurable diseases. The stem cell research results in the extensive consumption of biotechnology reagents.
North America dominated the global biotechnology reagents & kits market, garnering around 40% of the market share in 2020. The various developmental activities such as partnerships, acquisitions, and new product launches undertaken by the local key players, significantly influences the market growth in the region. Further, rising government and corporate investments in the development of various medicines and vaccines is boosting the growth of the biotechnology industry in North America, which led to the biotechnology reagents & kits market growth.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rapidly growing biotechnology industry in the Asia Pacific, rising demand for the innovative therapeutics, and growing penetration of numerous biotechnology companies in the region is propelling the growth of the biotechnology reagents & kits market in the region.
The growing demand for the synthetic biology, surging usage of molecular biology, increased investments in the R & D by the biotechnology companies are the primary drivers of the global biotechnology reagents & kits market. Further, the rapid spread of the COVID-19 virus across the globe has resulted in the excess demand for the biotechnology reagents & kits for the purpose of research, COVID-19 testing, and vaccine development, which significantly drives the growth of the market.
The high costs associated with the acquisition of reagents coupled with the stringent government regulations for the clinical trials and approvals of the biotechnology reagents is the significant restraining factor that may hinder the market growth in the forthcoming years.
Based on the technology, the cell culture dominated the market, closely followed by the PCR segment. The cell culture accounted for around 25% of the market share in 2020. The growing demand for the cell culture reagents among the researchers is the major factor behind the segment’s growth. The rising investments by the biotechnology companies is further fueling the segment growth. The PCR segment gained rapid traction in 2020 owing to its increased demand for the COVID-19 testing across the globe.
Based on the kits type, the detection segment dominated the market, accounting for around 23% of the market share in 2020. The surged use of detection kits in various end use applications such as healthcare, agriculture, and industrial processing has significantly fostered the market growth. Moreover, the demand for the detections kids has witnessed a rapid surge in 2020 due to the increased demand for the detection of COVID-19 virus among the global population.
Based on the micro-organisms, the bacteria is estimated to be the most opportunistic segment due to its increasing adoption in the cancer treatment. According to the International Agency for Research on Cancer, around 19.3 million new cancer cases and around 10 million cancer related deaths were reported in the year 2020, across the globe. The rising prevalence of cancer among the global population is expected to drive the growth of this segment, as bacteria can be potentially used as an anti-cancer agent.
Based on the tested parameters, the DNA is expected to be the fastest-growing segment owing to the growing applications of DNA in genetic screening, pharmacogenomics, and drug metabolism. Moreover, the rising demand for the DNA diagnostics is expected to drive the segment growth during the forecast period.
Based on the end use, the healthcare segment dominated the market, garnering a market share of around 52% in 2020. The increased demand for the biotechnology reagents in the various research organizations for clinical diagnostics and clinical trials is spurring the growth of this segment. Moreover, the personalized medicines are gaining momentum in the market, which is expected to further drive the market.
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global biotechnology reagents & kits market are listed as below:
- Abbott Laboratories
- Agilent Technologies
- Danaher Corp.
- Becton Dickinson & Company
- Bio-Rad Laboratories
- GE Healthcare
- Siemens Healthcare
- Merck KGaA
- Thermo Fisher Scientific Inc.
- Waters Corporation
- Cell Culture
- Flow Cytometry
By Kits Type
- Amplifications Kits
- Isolation Kits
- Purification Kits
- Detection Kits
By Tested Parameters
By End User
- Food & Agriculture
- Industrial Processing
- Natural Resource & Environment
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global biotechnology reagents & kits market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for biotechnology reagents & kits are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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