Market Research Report
Biotechnology Reagents Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||390891|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Biotechnology Reagents Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: April 1, 2019||Content info: 115 Pages||
The biotechnology reagents market is expected to register a CAGR of nearly 7.4% during the forecast period, 2019-2024. Certain factors that are driving the market growth include high R&D expenditure by biotechnology companies, increasing interest in stem cell research, and rise in the number of biotechnology firms.
The biotechnological reagents play a significant role in the age of rapid research, discovery, and publication in the industry and academic research purposes. There are several specialized studies that are being conducted in the 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.
Chromatography is Expected to Hold Significant Market Share in the Type of Analytical Reagents
Chromatography is a separation technique mainly used in drug discovery to validate the specificity, sensitivity, and purity of drugs. Chromatographic procedures have been largely used for analytical procedures and methods validation for drugs and biologics. Chromatographic techniques provide accurate results to validate characters, such as specificity, linearity, accuracy, precision, range, quantitation limit, and detection limit of various drugs. Chromatography reagents are used in a variety of applications, including high-performance liquid chromatography (HPLC), ion chromatography, flash chromatography, and complexometric titration. These reagents provide more precise, cost-effective separations, superior reproducibility, and accurate results in all forms of analytical chromatography. Since the chromatography techniques are well-established across the world, the demand for their reagents are consistently high for various pathological and academic purposes.
North America Dominates the Market and is Expected to Dominate in the Forecast Period
North America dominates the biotechnology reagents market and incurs the highest expenditure for global R&D. The United States accounted for the largest share in 2018. The North American segment is on a rise, due to various ongoing research in biological sciences, considerable investments by various biotechnology companies, and the consistently increasing utilization of biotechnology reagents in the market. Owing to the ongoing research and outsourcing activities in the field of life science, Asia-Pacific also has lucrative opportunities for growth over the forecast period.
The biotechnology reagents market is highly competitive and with a good number of players. Companies like Abbott Laboratories, Agilent Technologies, Beckman Coulter, Becton Dickinson & Company, Bio-Rad Laboratories, GE Healthcare, Siemens Healthcare, Sigma Aldrich Corporation, Thermo Fisher Scientific Inc., and Waters Corp., among others, hold a substantial market share in the market studied.