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Global Biotechnology Reagents Market Size (2024 - 2029)

The biotechnology reagents market is experiencing growth driven by increased demand during the COVID-19 pandemic, as governments and research institutions focus on rapid diagnostic technologies and vaccine development. This demand is further supported by high research and development expenditures, a rising interest in stem cell research, and the expansion of biotechnology firms. Despite these growth drivers, the market faces challenges due to the high cost of reagents and stringent government regulations.

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Market Size of Global Biotechnology Reagents Industry

CAGR
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.40 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

Biotechnology Reagents Market Analysis

The biotechnology reagents market is expected to register a CAGR of nearly 7.4% over the forecast period (2022-2027).

In the context of COVID-19, government organizations in various countries, research institutes, and many biotech and pharmaceutical firms are focusing on effective and rapid technologies for the fast diagnosis of COVID-19 and developing vaccines/new therapeutics to overcome the current situation. Hence, there is a huge demand for biotechnology reagents during the COVID-19 pandemic, which, in turn, is driving the market growth. For instance, in March 2020, the German Federal Ministry of Education and Research (BMBF) committed EUR 145 million of immediate funding to the Coalition for Epidemic Preparedness Innovations (CEPI) to support the development of a vaccine against COVID-19. The development of numerous diagnostic tests for COVID-19 has further driven market growth. Thus, the growing demand for the diagnosis of COVID-19 and research and development activity for the vaccines of COVID-19 boosted the demand for reagents. Hence, the respective market has a significant impact of COVID-19 on it.

Certain factors driving the market growth include high research & development expenditure by biotechnology companies, increasing interest in stem cell research, and a rise in the number of biotechnology firms. As per a May 2020 update by the India Brand Equity Foundation (IBEF), in the Union Budget 2022-23, the Department of Biotechnology was allotted INR 2,581 crores (USD 343.56 million) for developing basic infrastructure, genetic engineering, technologies, and bioinformatics, agriculture biotechnology, and training skilled professionals. This is anticipated to boost the number of research and development activities for biotechnology reagents which would fuel the market growth during the forecast period.

Drug manufacturing companies have initiated stem cell research, and several players in the pharmaceutical industry are using these cells to test the toxicity of drugs, which helps them to identify new therapies. For instance, according to the International Society of Stem Cell Research, in May 2022, Cell therapy company TreeFrog Therapeutics launched The Stem Cell SpaceShot Grant, a USD 100,000 research funding in the field of stem cell biology and regenerative medicine. It's open to PhD-level scientists and Ph.D. students conducting research in stem cell biology, biophysics, gene editing, cell therapy, and bioproduction engineering. Huge investments are made in the field of stem cell research by reagents, as reagents help in the assessment of stem cells which play a major role in the identification of their characteristics. Several companies in the market specialize only in the development of reagents, which can be useful for cell-line experiments and related discoveries.

However, the high cost of reagents, coupled with stringent government regulations for approval of reagents, is the major factor restraining the biotechnology reagents market.

Biotechnology Reagents Industry Segmentation

The biotechnological reagents play a significant role in the age of rapid research, discovery, and publication in the industry and academic research. Several specialized studies are being conducted in healthcare-related facilities, where a lot of work happens around genes, proteins, peptides, antibodies, and cell lines, owing to which the demand for biotechnological reagents becomes highly important. The Biotechnology Reagents Market is Segmented by Technology (Life Science Reagents (PCR, Cell Culture, Hematology, In-vitro Diagnostics, Other Technologies), and Analytical Reagents (Chromatography, Mass Spectrometry, Electrophoresis, Flow Cytometry, Other Analytical Reagents), Application (Protein Synthesis and Purification, Gene Expression, DNA and RNA Analysis, Drug Testing, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.

By Technology
Life Science Reagents
PCR
Cell Culture
Hematology
In-vitro Diagnostics
Other Technologies
Analytical Reagents
Chromatography
Mass Spectrometry
Electrophoresis
Flow Cytometry
Other Analytical Reagentss
By Application
Protein Synthesis and Purification
Gene Expression
DNA and RNA Analysis
Drug Testing
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East & Africa
GCC
South Africa
Rest of Middle-East & Africa
South America
Brazil
Argentina
Rest of South America
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Global Biotechnology Reagents Market Size Summary

The biotechnology reagents market is poised for substantial growth, driven by increased demand for rapid diagnostic technologies and vaccine development, particularly in response to the COVID-19 pandemic. This surge in demand has been supported by significant investments from government bodies and research institutions worldwide, which have prioritized the development of effective diagnostic tests and therapeutics. The market is further bolstered by high research and development expenditures by biotechnology companies, a growing interest in stem cell research, and the proliferation of biotechnology firms. These factors are expected to fuel the market's expansion over the forecast period, despite challenges such as the high cost of reagents and stringent regulatory approvals.

North America is anticipated to maintain a dominant position in the biotechnology reagents market, supported by its substantial investment in research and development activities and the presence of advanced research centers. The region's market growth is driven by the high burden of infectious diseases and significant funding from both private and government entities. The COVID-19 pandemic has further accelerated demand for biotechnology reagents, particularly in diagnostic applications. The competitive landscape of the market is characterized by strategic alliances, product launches, and mergers and acquisitions among key players, ensuring continued innovation and market share consolidation.

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Global Biotechnology Reagents Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 High R&D Expenditure by Biotechnology Companies coupled with the Rise in Number of Biotechnology Firms

      2. 1.2.2 Increasing Interest in Stem Cell Research

      3. 1.2.3 Growing Burden of Cancer, Genetic Disorders, and Chronic Infectious Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Government Regulations for Approval of Reagents

      2. 1.3.2 High Cost of Reagents

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Technology

      1. 2.1.1 Life Science Reagents

        1. 2.1.1.1 PCR

        2. 2.1.1.2 Cell Culture

        3. 2.1.1.3 Hematology

        4. 2.1.1.4 In-vitro Diagnostics

        5. 2.1.1.5 Other Technologies

      2. 2.1.2 Analytical Reagents

        1. 2.1.2.1 Chromatography

        2. 2.1.2.2 Mass Spectrometry

        3. 2.1.2.3 Electrophoresis

        4. 2.1.2.4 Flow Cytometry

        5. 2.1.2.5 Other Analytical Reagentss

    2. 2.2 By Application

      1. 2.2.1 Protein Synthesis and Purification

      2. 2.2.2 Gene Expression

      3. 2.2.3 DNA and RNA Analysis

      4. 2.2.4 Drug Testing

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle-East & Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle-East & Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Global Biotechnology Reagents Market Size FAQs

The Global Biotechnology Reagents Market is projected to register a CAGR of 7.40% during the forecast period (2024-2029)

Bio-Rad Laboratories, Becton Dickinson & Company, Danaher Corporation (Beckman Coulter Inc), Agilent Technologies and Thermo Fisher Scientific Inc. are the major companies operating in the Global Biotechnology Reagents Market.

Biotechnology Reagents Market Report Snapshots

Biotechnology Reagents Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)