The global biotechnology reagents market is expected to grow at a CAGR of 9.4% during the forecast period. The growth of the biotechnology reagents market is due to high R&D expenses of biotechnology companies, increasing number of biotechnology companies, increase in biopharmaceuticals, and technological developments. According to the Congressional Budget Office, in April 2021, global spending by biotech companies on various R&D activities has increased over the past two decades. Additionally, in 2019, the pharmaceutical industry spent about $83 billion on research and development of biotech products, according to the Congressional Budget Office. Another factor driving the market growth is the increase in protein analysis and the increasing use of biotech reagents in therapeutic and commercial applications.
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The COVID-19 pandemic has already affected the global economy due to a slowdown in manufacturing across various industries, including pharmaceuticals. However, during the COVID-19 period, the biotechnology reagents market has experienced significant growth owing to the rapid development and establishment of government research institutes in countries including India, China, Italy, and others. Research institutes as well as biotech and pharmaceutical companies are focusing on developing effective and rapid technologies to rapidly diagnose COVID-19 and develop vaccines/new treatments to overcome the current situation.
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Global Biotechnology Reagents Market Segmentation
by Life Science Reagents
- polymerase chain reaction (PCR)
- cell culture
- hematology
- In vitro diagnostics
- other
By analytical reagent
- Chromatography
- mass spectrometry
- electrophoresis
- Flow Cytometry
- other
By Application
- Protein Synthesis and Purification
- gene expression
- DNA and RNA Analysis
- drug test
- other
Regional Analysis
Kitami
- U.S.
- Canada
Europe
- U.K.
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of Asia Pacific
Rest of the world
Company Profile
- Aalto Biological Reagent Co., Ltd.
- bioMérieux
- biotech company
- Danaher Corporation / (Beckman Coulter)
- Hoffmann-La Roche GmbH
- Fitzgerald Industries International
- General Electric Company
- Lonza Group Limited
- Meridian Biosciences
- Merck & Co.
- Nautilus Biotechnology
- Olympus
- Ortho Clinical Diagnosis
- PerkinElmer
- Promega Corporation
- Quality Bio
- Siemens Healthineers
- Sysmex Corporation
- Treasure Holdings
- R. Grace & Co.
- waters co.
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