The biotechnology reagents global market is predicted to evolve at 9.99% of CAGR over the forecast period of 2018-2026

The global biotechnology reagents market is predicted to evolve at 9.99% of CAGR over the forecast period of 2018-2026. Factors such as rising investments in biotechnology by corporate as well as research organizations, changing biotechnology landscape, and the rising use of proteomic technology for high-throughput and high-resolution identification of cancer biomarkers are mainly responsible for driving the market across the globe.

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MARKET INSIGHTS

The global biotechnology reagents market is segmented on the basis of technology and applications. Technology can further be segmented into Life science reagents and analytical reagents. In terms of analytical reagents, Flow cytometry is growing rapidly with the highest growth rate. However, the life science reagent segment is expected to grow with the highest revenue. The applications for this market are DNA & RNA analysis, protein synthesis & purification, gene expression, and drug testing. The most popular application segment for the market is gene expression. The various advances in stem cell research and environmental biotechnology are presenting the market with potential growth opportunities. However, the fast-moving technological advancements resulting in increased cost of biopharmaceuticals and the various contamination issues for cell cultures are the major factors restraining the market growth.

REGIONAL INSIGHTS

The global biotechnology reagents market is segmented into four major regions like North America, Asia-Pacific, Europe and Rest of World. The North American region is expected to hold the highest market share by the end of the forecast period with the U.S being a major contributor to the region. This exceptional growth is a direct result of the booming pharmaceutical industry, rising demand for personalized medicine and growing demand for GMO crops in the region. On the other hand, the Asia-Pacific market is predicted to be the fastest-growing region over the forecasting period with countries like China, India, and Japan being its key contributors.

COMPETITIVE INSIGHTS

Some of the well-established companies in the global market are Abbott Laboratories, Agilent Technologies Inc., Beckman Coulter Inc., Becton, Dickinson & Company (BD), Biomerieux (holding company is Biomérieux S.A), Bio-Rad Laboratories Inc., Bio-Techne Corporation, Biotime Inc., C.B.S. Scientific Company Inc., Cyano Biotech Gmbh, Ge Healthcare, Invivoscribe Technologies Inc., Lonza Group Ltd., Meridian Biosciences Inc., PerkinElmer, Signalchem Lifesciences Corp, and Thermo Fisher.

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