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 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 biotechnology reagents market size is expected to grow to $110.93 billion in 2027 at a CAGR of 9.0%.

North America was the largest region in the biotechnology reagents market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

Biotechnology Reagents Market Driver
Rise in demand for polymerase chain reaction (PCR) is likely to drive future expansion in the biotechnology reagents industry. Polymerase chain reaction (PCR) is a molecular technique used to amplify tiny segments of DNA into larger segments that are then used to diagnose infectious diseases and analyse genetic alterations. Biotechnology reagents are used in polymerase chain reaction (PCR) to maintain a steady pH during the PCR process to enable optimal DNA synthesis function, which may later be used for various genomic investigations and diagnosis. For example, because to its ability to detect diseases in a shorter amount of time, Weqaya UAE, a UAE-based national agency for awareness and reassurance overseen by the National Crisis & Emergency, completed more than 60 million RT-PCR tests across the emirates in July 2021. As part of the pandemic response, the UAE’s health officials boosted the number of tests performed each 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 a result, increased demand for polymerase chain reaction (PCR) is propelling the biotechnology reagents market forward.

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Prominent Biotechnology Reagents Market Trend
The primary trend that is gaining traction in the biotechnology reagent market is technological improvement. To strengthen their position in the biotechnology reagent market, major businesses are focusing on producing unique products based on new technologies. For example, in April 2022, CN BIO Innovations, a UK-based company that specialises 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), which can be used in an Organs-on-Chip system to provide researchers with in-house capabilities to study disease mechanics and physiological responses of disease concerning drug efficacy and safety toxicology, which facilitates more accurate and cost-effective drug development.

Biotechnology Reagents Market Prominent Players
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.

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Key Biotechnology Reagents Market Segments
The global biotechnology reagents market is segmented –
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

The Biotechnology Reagents Global Market Report 2023  provides a comprehensive overview on the biotechnology reagents market size, trends and drivers, opportunities, strategies, and companies 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.

View More Related Reports –
Biotechnology Services Global Market Report 2023
Hematology Analyzers And Reagents Global Market Report 2023
Molecular Biology Enzymes And Kits And Reagents Global Market Report 2023

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