The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s biotechnology reagents market report forecasts the biotechnology reagents market size to grow to $110.93 Billion by 2027, with a CAGR (compound annual growth rate) of 9%.

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Biotechnology Reagents Market Size Forecast
The global biotechnology reagents market is expected to grow from $72.01 billion in 2022 to $78.47 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biotechnology reagents market size is expected to grow to $110.93 billion in 2027 at a CAGR of 9.0%.

North America held the largest biotechnology reagents market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Biotechnology Reagents Market Driver ­– Rise In Demand For Polymerase Chain Reaction
For polymerase chain reaction (PCR), biotechnology reagents are used to maintain a stable pH during the PCR process to ensure proper DNA synthesis function, which can later be used for various genomic studies and diagnosis purposes. For instance, in July 2021, Weqaya UAE, a UAE-based national agency for awareness and reassurance under the supervision of the National Crisis & Emergency, conducted more than 60 million RT-PCR tests across the emirates due to its capabilities in detecting infections in a shorter period of time. The UAE’s health officials increased the number of tests per day from an average of 10,000 by the end of March 2020 to 120,000 in November and more than 270,000 in July 2021 as part of measures to combat the pandemic. Therefore, the rising demand for polymerase chain reaction (PCR) is driving the growth of the biotechnology reagents market.

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Key Biotechnology Reagents Market Trend – Technological Advancement
Major companies are focused on developing innovative products based on new technologies to strengthen their position in the biotechnology reagent market. For instance, in April 2022, CN BIO Innovations, a UK-based company operating in single and multi-organ micro-physiological systems and innovative lab technologies, introduced the PhysioMimix in-a-box reagent kit for non-alcoholic steatohepatitis (NASH) and severe non-alcoholic fatty liver disease (NAFLD) that can be used in an Organs-on-Chip system to provide researchers with in-house capabilities to study mechanics and physiological responses of disease concerning drug efficacy and safety toxicology, which facilitates more accurate and cost-effective drug development.

Biotechnology Reagents Market Segment
1) By Type: Life Science Reagents, Analytical Reagents,Other Reagents
2) By Applications: Protein synthesis and purification, Gene expression, DNA and RNA analysis, Drug testing
3) By End-Users: Biotech companies, Research institutes, Pharmaceuticals, Diagnostic centers, Academic Institute, Other End-Users

Biotechnology Reagents Market Major Players and Strategies
Major players in the biotechnology reagents market are Life Technologies Corporation, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Water Corporation, Sigma-Aldrich, Agilent Technologies Inc., Becton Dickinson and Company, Beckman Coulter Inc., Roche Holding AG, Abbott Laboratories, General Electric incorporated, PerkinElmer Inc., Merck Group, bioMérieux SA, Siemens Healthineers AG, Lonza Group, Hoefer Inc., Quality Biological Inc., Tosoh Corporation, Promega Corporation, Bio-Techne Corporation, Takara Bio Inc., and Sysmex Corporation.

In April 2022, Meridian Bioscience, a US-based life science company that develops, manufactures, and distributes purified reagents and related products, acquired Euprotein Inc for an undisclosed amount. This acquisition is expected to help Meridian increase its recombinant capabilities while accelerating its pipeline of novel immunological tools. Euprotein is a US-based biotechnology company that offers specialized development and manufacturing of bioresearch reagents.

The Biotechnology Reagents Global Market Report 2023 covers regional data on biotechnology reagents market size, biotechnology reagents market trends and drivers, opportunities, strategies, and biotechnology reagents market competitor analysis. The countries covered in the biotechnology reagents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Biotechnology reagents refer to chemical compounds that are used in detecting, measuring, and preparing a product, and others by facilitating chemical. Biotechnology reagents are used in the quantification and detection of desired substances, as the binding of reagents to the substance or other related substances triggers certain reactions.

View More Reports Related To The Biotechnology Reagents Market –
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Hematology Analyzers And Reagents Global Market Report 2023
Polymerase Chain Reactions (PCR) Devices, Reagents And Uses Global Market Report 2023

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