Biotechnology Reagents

Biotechnology Reagents

Global Biotechnology Reagents Market to Reach US$135.1 Billion by 2030

The global market for Biotechnology Reagents estimated at US$99.3 Billion in the year 2023, is expected to reach US$135.1 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2023-2030. Chromatography Technology, one of the segments analyzed in the report, is expected to record a 3.5% CAGR and reach US$40.6 Billion by the end of the analysis period. Growth in the In-vitro Diagnostics Technology segment is estimated at 3.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$26.8 Billion While China is Forecast to Grow at 7.4% CAGR

The Biotechnology Reagents market in the U.S. is estimated at US$26.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$28.4 Billion by the year 2030 trailing a CAGR of 7.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.4% and 5.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

Biotechnology Reagents - Key Trends and Drivers

 Biotechnology reagents are critical in the realm of modern biotechnological research and applications, enabling a myriad of processes such as DNA cloning, sequencing, labeling, mutagenesis, and various polymerase chain reaction (PCR) methodologies. As central components in molecular biology, they support advanced genetic research, pharmacology, and diagnostics, with the development of new techniques necessitating an increased demand for specialized reagents and kits. This requirement is facilitating growth not only within established markets but also opening avenues in emerging fields where these reagents are integral to innovation and application expansion.

The global biotechnology reagents market is witnessing substantial growth fueled by significant investments in research and development from governments, academic institutions, and private sectors, particularly in areas such as stem cell research and synthetic biology. These investments are propelling advancements in CRISPR gene editing technology, next-generation sequencing (NGS), and personalized medicine, thereby increasing the need for high-quality reagents. The continuous expansion of biotechnological applications, coupled with the growing importance of diagnostics and biopharmaceuticals in healthcare, is boosting the demand for these specialized reagents.

Technological innovations within the sector are critical in driving the biotechnology reagents market forward, with developments in fluorescence-based assays, high-throughput screening technologies, and the production of biopharmaceuticals necessitating advanced reagents that offer higher sensitivity and specificity. The expansion of the diagnostics sector, spurred by the COVID-19 pandemic and the increasing prevalence of chronic diseases, further underscores the need for precise diagnostic reagents. Additionally, the growing trend of collaborations between academic and commercial entities to expedite the commercialization of research is enhancing the demand for sophisticated biotechnology reagents, supporting the dynamic growth of this market.

Select Competitors (Total 267 Featured) -

• Abbott Molecular, Inc.
• Agilent Technologies, Inc.
• BD Biosciences
• bioMerieux SA
• Bio-Rad Laboratories, Inc.
• Bio-Techne Coporation
• Danaher Corporation
• F. Hoffmann-La Roche AG
• Fitzgerald Industries International
• General Electric Company
• Hoefer, Inc.
• Lonza Group Ltd.
• Merck KGaA
• Meridian Bioscience, Inc.
• Olympus Corporation
• Ortho Clinical Diagnostics
• PerkinElmer, Inc.
• Promega Corporation
• Quality Biological, Inc.
• Siemens Healthineers
• Sysmex Corporation
• Takara Holdings, Inc.
• Thermo Fisher Scientific, Inc.
• Tosoh Europe N.V.
• W. R. Grace & Co.
• Waters Corporation

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