LONDON--(BUSINESS WIRE)--The global biotechnology reagents market is expected to grow by USD 37.87 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 8%. Request free sample pages
Read the 120-page report with TOC on "Biotechnology Reagents Market Analysis Report by Technology (chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others) and Region (APAC, Europe, North America, and ROW), and the Segment Forecasts, 2020-2024".
The market is driven by the presence of high-throughput and novel technologies. In addition, the increasing R&D investments by federal agencies and biotechnology firms is anticipated to boost the growth of the biotechnology reagents market.
The availability of novel technologies such as highly personalized and predictive throughput screening, pre-disease and biomarker identification, gene therapy and genome editing for earlier disease detection, and rapid POC diagnostics is driving the demand for reagents. The popularity of DNA chips, proteomics, and combinatorial chemistry in drug discovery area will further boost reagent usage. Reagents are also being used as contrast enhancers or biosensors in spectroscopic methods such as fluorescence and nuclear magnetic resonance (NMR) for measuring the chemical and molecular dynamics of the cells. In addition, healthcare researchers are also conducting regular studies for the development of highly effective reagents which can be used in novel technologies, thus positively impacting the growth of the global biotechnology reagents market.
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Major Five Biotechnology Reagents Companies:
Abbott Laboratories has business operations under various segments, such as established pharmaceuticals products, nutritional products, diagnostic products, and medical devices. The company's key offerings include Multigent Reagent Architect, which is used for therapeutic drug monitoring lithium for Architect c16000 Analyzer.
Agilent Technologies Inc.
Agilent Technologies Inc. operates the business through various segments, such as life sciences and applied markets, diagnostics and genomics, and Agilient CrossLab. The company's key offerings include miRNA qPCR Detection Reagents, which contain specific forward primers and microRNA qPCR MM detection reagent used for polyadenylation of microRNAs from total RNA.
Becton, Dickinson and Co.
Becton, Dickinson and Co. has business operations under various segments, such as BD Medical, BD Life Sciences, and BD Interventional. The company's key offerings include CD20 PE Clone L27 (ASR), which contains phosphate buffered saline with gelatin and sodium azide used in flow cytometers.
Bio-Rad Laboratories Inc.
Bio-Rad Laboratories Inc. operates its business through two segments: life science and clinical diagnostics. The company's key offerings include iScript RT-qPCR Sample Preparation Reagent, which is a sample preparation reagent used for isolating total RNA from cultured cells to use for RT-qPCR.
Danaher Corp. has business operations under various segments: life sciences, diagnostics, and environmental and applied solutions. The company offers a wide range of genomic reagents developed with solid phase reversible immobilization technology, which is used for nucleic acid extraction from cells, tissue, and blood.
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Biotechnology Reagents Technology Outlook (Revenue, USD billion, 2020-2024)
- In-vitro diagnostics
- Polymerase chain reaction
- Cell culture
Biotechnology Reagents Regional Outlook (Revenue, USD billion, 2020-2024)
- North America
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