Biotechnology reagent market is expected to grow at a 9.4% CAGR during the forecast period. The reason behind the growth of the biotechnology reagent market is high R&D expenses by biotechnology companies, the growing number of biotechnology firms, an increase in biopharmaceuticals, and development in technology. According to the Congressional Budget Office, in April 2021, global spending of the biotech firms o various R&D activities has been increased over the past two decades. Further, according to the Congressional Budget Office, in 2019, the pharmaceutical industry spent around $83 billion dollars on the R&D of biotechnology products. Another factor propelling the growth of the market is the rising protein profiling and the increasing utilization of biotechnology reagents in therapeutics and commercial applications.
The COVID-19 pandemic has impacted the global economy due to a slowdown in the manufacturing of various industries including pharmaceuticals, among others. However, during COVID-19, the biotechnology reagent market experienced a significant growth owing to the rapid development and establishment of government research organizations in various countries including India, China, Italy, and others. Research institutes along with the biotech & pharmaceutical firms are focusing on developing effective and fast technologies for the fast diagnosis of COVID-19 and developing vaccines/new therapeutics to overcome the current situation.
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Biotechnology Reagent Market Segmentation
By Life Science Reagents
- Polymerase chain reaction (PCR)
- Cell Culture
- Hematology
- In-vitro Diagnostics
- Others
By Analytical Reagents
- Chromatography
- Mass Spectrometry
- Electrophoresis
- Flow Cytometry
- Others
By Application
- Protein Synthesis and Purification
- Gene Expression
- DNA and RNA Analysis
- Drug Testing
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Aalto Bio Reagents Ltd.
- bioMerieux SA
- Bio-Techne Corp.
- Danaher Corp. / (Beckman Coulter Inc.)
- Hoffmann-La Roche Ltd.
- Fitzgerald Industries International
- General Electric Co.
- Lonza Group Ltd.
- Meridian Bioscience, Inc.
- Merck KGaA
- Nautilus Biotechnology
- Olympus Corp.
- Ortho Clinical Diagnostics
- PerkinElmer, Inc.
- Promega Corp.
- Quality Biological, Inc.
- Siemens Healthineers AG
- Sysmex Corp.
- Takara Holdings, Inc.
- R. Grace & Co.
- Waters Corp.
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