The market for biotechnological reagents and kits will reach 987.4 billion. USD in 2030

The global market size for biotechnological reagents and kits is expected to hit $ 987.4 billion by 2030 and is poised to grow at a compound annual growth rate (CAGR) of 11.4% from 2021 to 2030.

Ottawa, November 25, 2021 (GLOBE NEWSWIRE) – According to Precedence Research, the global the market for biotechnological reagents and kits was valued at $ 338 billion in 2021. Various factors such as increased stem cell research activities, growing number of biotechnology companies and increasing investment by biotechnology companies are driving the growth of the global biotechnology reagents and kits market significantly. The Australian government launched a mission in 2019 and announced to invest around $ 150 million over a 9-year period to support stem cell-related research activities to develop medicines for the incurable diseases. Stem cell research results in an extensive consumption of biotechnological reagents.

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North America dominated the global market for biotechnological reagents and kits and gained about 40% of the market share by 2020. The various development activities, such as partnerships, acquisitions and new product launches made by the local key players, significantly affect market growth in the area. Additionally, increasing government and corporate investment in the development of various drugs and vaccines is increasing the growth of the biotechnology industry in North America, leading to the growth of biotechnological reagents and kits.

The scope of the market for biotechnological reagents and kits

Report coverage

details

Market size in 2021

USD 338 billion

Growth rate from 2021 to 2030

CAGR of 11.4%

Fastest growing market

Asia and the Pacific

Largest market

North America

Base year

2021

Regional scope

Mentioned companies

Abbott Laboratories, GE Healthcare, Waters Corporation, Agilent Technologies, Danaher Corp., Siemens Healthcare, Becton Dickinson & Company, Bio-Rad Laboratories, Merck KGaA, Thermo Fisher Scientific Inc.

Asia Pacific is estimated to be the most opportunistic market in the forecast period. The rapidly growing biotechnology industry in Asia and the Pacific, the growing demand for innovative therapeutic agents and the growing influx of several biotechnology companies in the region are driving the growth of biotechnology reagents and kits market in the region.

The growing demand for synthetic biology, increasing use of molecular biology, increased investment in research and development from biotechnology companies are the primary drivers of the global market for biotechnology reagents and kits. In addition, the rapid spread of the COVID-19 virus across the globe has resulted in the excess demand for biotechnological reagents and kits for research, COVID-19 testing and vaccine development, significantly driving market growth.

The high cost of reagent acquisition combined with the strict government regulations for the clinical trials and approvals of biotechnological reagents is the major deterrent that may hinder market growth in the coming years.

Based on the technology, the cell culture dominated the market, closely followed by the PCR segment. The cell culture accounted for about 25% of the market share in 2020. The increasing demand for the cell culture reagents among the researchers is the main factor behind the segment’s growth. The increasing investments from the biotechnology companies further promote the growth of the segment. The PCR segment quickly gained ground in 2020 due to its increased demand for COVID-19 tests across the globe.

Based on the set type, the detection segment dominated the market and accounted for around 23% of the market share in 2020. The strong use of detection kits in various end-use applications such as healthcare, agriculture and industrial processing has significantly boosted market growth. In addition, the demand for detection children has witnessed a rapid increase in 2020 due to the increased demand for detection of COVID-19 virus among the global population.

Based on the microorganisms, the bacteria is considered to be the most opportunistic segment due to its increasing use in cancer treatment. According to the International Agency for Research on Cancer, around 19.3 million new cancer cases and around 10 million cancer-related deaths were reported by the year 2020 across the globe. The increasing incidence of cancer among the global population is expected to drive the growth of this segment as bacteria can potentially be used as a remedy against cancer.

Based on the parameters tested, the DNA is expected to be the fastest growing segment due to the growing use of DNA in genetic screening, pharmacogenomics and drug metabolism. In addition, the growing demand for DNA diagnostics is expected to drive segment growth during the forecast period.

Based on end use, the healthcare segment dominated the market and achieved a market share of around 52% in 2020. The increased demand for the biotechnological reagents in the various research organizations for clinical diagnostics and clinical trials is encouraging the growth of this segment. In addition, the personalized drugs are gaining momentum in the market, which is expected to drive the market further.

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Market segmentation

Of technology

  • PCR

  • Cell culture

  • LAMP

  • Chromatography

  • Sequencing

  • Flow cytometry

  • Electrophoresis

  • Others

By set type

  • Amplifier set

  • Insulation set

  • Cleaning kit

  • Detection set

  • Others

Of microorganisms

  • Virus

  • Bacteria

  • Mushrooms

  • Parasites

For parameters tested

  • RNA

  • DNA

  • Enzymes

  • Proteins

  • Others

By end user

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