DUBLIN--(BUSINESS WIRE)--The "Global Biotechnology Reagents Market - Segmented by Technology, Application, and Geography - Growth, Trends, and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global biotechnology reagents market is expected to witness a CAGR of 7.4% during the forecast period (2018-2023).
The 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 identify new therapies. These researchers and pharmaceutical companies are studying stem cells for basic research, toxicity test, drug discovery, and future applications. A wide range of reagents, such as stem cell culture media, laboratory reagents, etc., are necessary to meet the stem cell culture needs. With the booming stem cell research, it is anticipated that the demand for biotechnology reagents will grow over the forecast period.
The other factors that also drive the market are - exponential rise of the biotechnology industry across the globe, significant investments by private players in R&D, and rise in the number of market players.
North America dominates the global biotechnology reagents market and incurs the highest expenditure for global R&D. The United States accounted for the largest share of 73%, in 2016. The North American segment is on a rise, because of the ongoing research in biological sciences, considerable investments by various biotechnology companies, and the consistently increasing utilization of biotechnology reagents in the market. Due 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.
- Significant Investments by Private Players in Biotechnology
- Increasing Interest in Stem Cell Research
- Growing Number of Biotechnology Firms
- Increasing Usage of Reagents in Commercial and Research Fields
- Stringent Government Regulations for Approval of Reagents
- High Cost of Reagents
- Contamination Problems
Key Developments in the Market
- August 2016: GE Healthcare expanded its cell therapy portfolio, with the license of STEMCELL Technologies T-Cell reagents.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
- GE Healthcare
- Siemens Healthcare
- Waters Corp.
- Beckman Coulter
- EMD Biosciences
- Bio Rad Laboratories
- Sigma Aldrich
- Olympus Biotech
10. Future of the Market
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