Biotechnology Reagents Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 Market Trends
This section covers the major market trends shaping the Biotechnology Reagents Market according to our research experts:
The Polymerase Chain Reaction (PCR) Segment is Expected to Witness Growth Over the Forecast Period
Polymerase chain reaction (PCR) is a technique that amplifies the amount of target nucleic acid in every cycle. It is a technique used to amplify target DNA and generate thousands to millions of copies of a particular DNA segment. PCR-based techniques have mostly been used for pre-screening analysis. PCR-based methods, like single-stranded conformation polymorphism (SSCP) analysis and Amplified fragment length polymorphism (AFLP), have been routinely used in labs to screen for various chronic and infectious diseases. As the application of PCR techniques is expanding to vast areas, developments in PCR reagents have followed suit. Different types of reagents used in PCR techniques include NA/RNA template, DNA polymerase, primers (forward and reverse), deoxynucleotide triphosphates (dNTPs), and PCR buffers.
Moreover, market players are continuously launching new products to gain a competitive advantage in the market which is expected to boost significant growth in the studied market. For instance, in March 2021, United Kingdom-based PCR Biosystems launched a range of IsoFast Bst Polymerase reagents for rapid, robust, and sensitive DNA and RNA amplification. Additionally, due to the COVID-19 pandemic, there is a positive impact on the Reagents market due to the high demand for clinical diagnostic products including reagents. As the authorities have not recommended viral culture tests, almost all the diagnostic tests use RT-PCR to test the population who have symptoms of COVID-19 and are advised by healthcare professionals to undergo a diagnostic test. For instance, in May 2020, Eurofins Technologies launched its GSD NovaPrime SARS-CoV-2 (COVID-19) CE-IVD marked real-time RT-PCR (polymerase chain reaction to reverse transcriptase chain reaction) multiplex for the direct qualitative detection of the pathogen of the new coronavirus (SARS-CoV-2). Therefore, due to the aforementioned factors, the PCR segment is expected to have a healthy growth over the forecast period.
North America Dominates the Market and the Region is Expected to Dominate during the Forecast Period
North America dominates the biotechnology reagents market and has the highest expenditure for global Research & Development activities due to which this region is expected to occupy a significant share in the biotechnology reagents market.
The major driving factors for the studied market in the North American region are the high burden of infectious diseases, huge funding for research and development activities, and the presence of robust and advanced research centers. For instance, California-based Amgen Inc. invests heavily in its research and development activities and its expenditure for research and development was USD 4.8 billion, USD 4.2 billion, and USD 4.1 billion, for 2021, 2020, and 2019, respectively, as per its 2021 company annual report. There are many other companies in the region that invest heavily in biotechnology research along with government entities such as the National Institute of Health of the United States which also provides funding for biotechnology research thus, owing to these factors, there is expected to be a high demand of biotechnology reagents in the region, and it will have significant growth over the years.
Furthermore, companies are either acquiring or merging with other companies for significant deals, and they are investing heavily in biotechnology and pharmaceutical research activities and launching new products in the region. For instance, in March 2021, PromegaCorp. launched XpressAmp Direct amplification reagent.
Moreover, the recent COVID-19 pandemic has also spurred the demand for biotechnology reagents in the region due to the increasing case of COVID-19 infection due to increased laboratory diagnosis of COVID-19 specimens. For instance, in June 2020, Galenvs Sciences Inc. entered an agreement with the Canadian Federal Government for the supply of functionalized magnetic reagents for Coronavirus RNA extraction necessary to enable the COVID-19 testing efforts across Canada.
Thus, the market is expected to grow significantly in the North American region during the forecast period
Biotechnology Reagents Industry Overview
The biotechnology reagents market is highly competitive, with a good number of players. The key players have been involved in various strategic alliances, such as acquisitions, collaborations, and the launch of advanced products to secure their position in the global market. The key Companies in this market are Abbott Laboratories, Agilent Technologies, Danaher Corporation (Beckman Coulter Inc.), Becton Dickinson & Company, Bio-Rad Laboratories, bioMérieux SA, Siemens Healthcare, Merck KGaA (Sigma Aldrich Corporation), Thermo Fisher Scientific Inc., Waters Corporation, Eurofins Scientific, Takara Bio, QIAGEN NV, and Illumina Inc.
Biotechnology Reagents Market Leaders
Bio-Rad Laboratories
Becton Dickinson & Company
Danaher Corporation (Beckman Coulter Inc)
Agilent Technologies
Thermo Fisher Scientific Inc.
*Disclaimer: Major Players sorted in no particular order
Biotechnology Reagents Market News
- In June 2022, Agilent Technologies Inc. reported that previously CE-IVD marked instruments, kits, and reagents were released as IVDR Class A on May 26, 2022, in compliance with the new EU IVDR regulation.
- In April 2022, CN Bio, an organ-on-a-chip (OOC) company, launched its PhysioMimix 'in-a-box' reagent kit for non-alcoholic steatohepatitis (NASH)-a disease that, to date, has no regulatory-approved therapeutics for treatment because of the inability to predict human responses to this complex disease via traditional in-vivo animal studies.
Biotechnology Reagents Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High R&D Expenditure by Biotechnology Companies coupled with the Rise in Number of Biotechnology Firms
4.2.2 Increasing Interest in Stem Cell Research
4.2.3 Growing Burden of Cancer, Genetic Disorders, and Chronic Infectious Diseases
4.3 Market Restraints
4.3.1 Stringent Government Regulations for Approval of Reagents
4.3.2 High Cost of Reagents
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Technology
5.1.1 Life Science Reagents
5.1.1.1 PCR
5.1.1.2 Cell Culture
5.1.1.3 Hematology
5.1.1.4 In-vitro Diagnostics
5.1.1.5 Other Technologies
5.1.2 Analytical Reagents
5.1.2.1 Chromatography
5.1.2.2 Mass Spectrometry
5.1.2.3 Electrophoresis
5.1.2.4 Flow Cytometry
5.1.2.5 Other Analytical Reagentss
5.2 By Application
5.2.1 Protein Synthesis and Purification
5.2.2 Gene Expression
5.2.3 DNA and RNA Analysis
5.2.4 Drug Testing
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Agilent Technologies
6.1.3 Danaher Corporation (Beckman Coulter Inc.)
6.1.4 Becton Dickinson & Company
6.1.5 Bio-Rad Laboratories
6.1.6 bioMérieux SA
6.1.7 Siemens Healthcare
6.1.8 Merck KGaA (Sigma Aldrich Corporation)
6.1.9 Thermo Fisher Scientific Inc.
6.1.10 Waters Corporation
6.1.11 Eurofins Scientific
6.1.12 Takara Bio
6.1.13 QIAGEN NV
6.1.14 Illumina Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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.
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Biotechnology Reagents Market Research FAQs
What is the current Global Biotechnology Reagents Market size?
The Global Biotechnology Reagents Market is projected to register a CAGR of 7.40% during the forecast period (2024-2029)
Who are the key players in Global Biotechnology Reagents Market?
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.
Which is the fastest growing region in Global Biotechnology Reagents Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Biotechnology Reagents Market?
In 2024, the North America accounts for the largest market share in Global Biotechnology Reagents Market.
What years does this Global Biotechnology Reagents Market cover?
The report covers the Global Biotechnology Reagents Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Biotechnology Reagents Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Biotechnology Reagents Industry Report
Statistics for the 2024 Biotechnology Reagents market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Biotechnology Reagents analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
