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The global biotechnology reagents market size was valued at USD 34.1 billion in 2023, driven by increasing innovations and funding activities. The market size is anticipated to grow at a CAGR of 8.03% during the forecast period of 2024-2032 to achieve a value of USD 68.4 billion by 2032.
Biotechnology reagents are used in biotechnological procedures to enable certain reactions, analyses, or manipulations within biological systems. These reagents are substances and compounds that play a crucial role in several lab procedures, experiments, and industrial applications associated with biotechnology. They can include a wide range of molecules, compounds, enzymes, buffers, antibodies, nucleic acids, and other materials necessary for tasks such as DNA amplification, protein analysis, cell culture, purification, sequencing, and more.
Biotechnology reagents are extremely useful in research and experiments related to fields such as fields like molecular biology, genetics, biochemistry, pharmaceuticals, and agriculture. Several types of biotechnology reagents can be categorized based on their applications. For instance, molecular biology techniques like PCR (Polymerase Chain Reaction) require reagents such as DNA polymerases, primers, nucleotides, and buffers.
The biotechnology reagents market growth is driven by certain factors such as increased research and development activities. Increasing investments by pharmaceutical companies to research more to find new reagents or explore the full potential of existing reagents. The market is further driven by the increasing interest of market players in stem cell research, and a rise in the number of biotechnology firms. The increasing research activities by pharmaceutical companies to develop new drugs are collectively contributing to market growth. Due to the increased drug development research activities, and number of clinical trials are simultaneously expected to increase and drive market growth in the forecast period.
Latest Launches in the Market to Drive the Biotechnology Reagents Market Demand
The market growth is driven by innovative launches backed by research and investments by the market key players exemplified by the recent launch of a new antibody by Aalto Bio Reagents in May 2023. They have launched their new Mouse Monoclonal Antibody (MAb) to Cholera Toxin B (CM 1431) in response to the escalating cholera outbreak in Africa and southern Asia, as well as a growing risk of a cholera outbreak in the Ukraine . Such developments can result in a brand-new revolution in the market with widespread applications in various fields, propelling the market growth in the forecast period.
Adaptation of Advanced Technologies to Drive the Growth
The market is further expected to be influenced by the increased adoption of advanced technologies. For instance, Biotech companies have started to deploy advanced technologies such as artificial intelligence (AI) to streamline a variety of operational processes via enhanced automation. With the integration of AI in these procedures, the identification of biomarkers that have applications for the development of drugs and diagnostics has become convenient, bolstering global biotechnology reagents market growth.
Research and Studies to Contribute to the Growing Market Size
The market is expected to witness significant growth in the forecast period driven by continuous efforts of key players towards making discoveries associated with market expansion. For instance, the recent innovation of a revolutionary recycling process technology to extract pure polypropylene (PP) from PCR multilayer packaging waste, currently hard to recycle, has been announced by Braskem. Braskem is a leading polyolefins producer in America and a leading producer of biopolymers globally. Braskem also mentioned that they have been awarded funding amounting to USD 600,000. This is a Research, Demonstration, and Development (RD&D) grant from the Reducing Embodied Energy and Decreasing Emissions (REMADE) Institute, a public-private partnership established by the United States Department of Energy (DOE) . Such announcements and funding activities are major factors aiding the biotechnology reagents market size as the procedure performing required activities will eventually require reagents to perform the activity efficiently.
Strategic Collaborations between Key Players to Aid the Market Growth
In May 2023, to continue providing the highest quality laboratory services and state-of-the-art technologies, FlowMetric collaborated directly with Cytek™Biosciences in providing feedback on the pre-designed panels associated with their next generation of flow cytometric instrumentation. Such strategic collaborations are expected to attract researchers and laboratories seeking innovative tools, and individuals preferring high-quality services, further bolstering the global biotechnology reagents market demand.
The Cytek Aurora harnesses full spectrum technology, offering remarkable flexibility and stability. It allows for a diverse range of new fluorochrome combinations without requiring system reconfiguration for each specific application. This system provides high-resolution data at the individual cell level, effectively addressing complex challenges like cells exhibiting high autofluorescence or limited expression of crucial biomarkers, irrespective of the assay's complexity.
Market Breakup by Technology
Market Breakup by Applications
Market Breakup by Region
North America is dominating the global market with increasing activities related to drug development and research dedicated to exploring the full potential of existing reagents, associated with the increasing competition among market players. This may further increase the demand for new reagents with widespread applications and enhanced performance resulting in continuous dominance of North America in the forecast period.
Rising collaborations for better innovations are likely to aid the biotechnology reagents market growth in the coming years. In September 2023, Navigate BioPharma and Becton Dickinson strategically collaborated to use flow cytometry to develop and commercialize companion diagnostics (CDx) and clinical decision-making solutions. Navigate BioPharma, an independently operating subsidiary of Novartis, provides biomarker and bioanalytic solutions for clinical development and CDx applications. The collaboration harnesses Navigate BioPharma's experience in designing and validating biomarker assays with BD’s expertise in flow cytometry and development services.
With this collaboration, the combination of Navigate BioPharma's proficiency in biomarker assays and CDx applications with BD’s specialized knowledge in flow cytometry, and development services is expected to result in a powerful synergy. This may potentially lead to the development of innovative solutions, further bolstering the market growth.
In May 2023, Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostic products, announced the launch of the IH-500TM NEXT System, a fully automated system for ID-Cards. Bio-Rad is one of the world's most respected suppliers of blood screening systems, serving blood banks and transfusion centers globally for over 70 years. In an evolving environment, with the IH-500 NEXT System, Bio-Rad offers enhanced benefits to address the current and future needs of laboratories.
The key features of the biotechnology reagents market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Applications |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 34.1 billion in 2023, driven by increased innovations.
The market is anticipated to grow at a CAGR of 8.03% during the forecast period of 2024-2032 and is likely to reach a market value of USD 68.4 billion by 2032.
The market growth is further driven by factors such as increased research and development activities, strategic collaborations, adaptation of advanced technologies, increasing interest of market players in stem cell research, and increasing investments are major factors driving the market growth.
The market growth is influenced by new launches by the key players in the market such as the launch of IH-500TM NEXT System by the Rad Laboratories.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Technologies used in biotechnology reagents are life science reagents and analytical reagents.
Biotechnology reagents find wide applications in protein synthesis and purification, gene expression, DNA and RNA analysis, and drug testing, among others.
Key players involved in the market are Abbott, Agilent Technologies Inc., Danaher, BD, Bio-Rad Laboratories Inc., General Electric, bioMérieux SA, LONZA, F. Hoffmann-La Roche Ltd., Hoefer, Inc., PerkinElmer Inc., Merck KGaA, Promega Corporation, Quality Biological, Siemens, Bio-Techne, TAKARA HOLDINGS INC., Sysmex Corporation, Tosoh Corporation, and Olympus Corpora.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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