|Biotechnology Reagents & Kits Market 2022 Product Definition, Regional Outlook, Forecast And CAGR 2030|
Biotechnology Reagents & Kits Industry Overview
The global biotechnology reagents & kits market size is expected to reach USD 1.14 trillion by 2028, registering a CAGR of 16.5% over the forecast period, according to a new report by Grand View Research, Inc. Key factors driving the market include the introduction of novel and advanced products, a rise in investments in the biotechnology sector, and increasing demand for synthetic biology.
Biotechnology Reagents & Kits Market Segmentation
Grand View Research has segmented the global biotechnology reagents & kits market on the basis of kit type, technology, tested parameters, micro-organisms, purpose, end use, and region:
Based on the Type Insights, the market is segmented into Purification, Amplification, Detection, Isolation, Others.
- The detection kits segment dominated the market in 2020 with a revenue share of over 22%. This can be attributed to the widespread utilization of detection kits at various end-use settings, such as healthcare, industrial processing, food, and agriculture.
- This kit can recognize both Spikes and Nucleocapsid (S&N) protein of coronavirus with 97% sensitivity and 99% specificity. The detection kit is manufactured in collaboration with Vanguard Diagnostics Private Limited.
- Increasing demand for molecular diagnostics is a major factor contributing to the growth of amplification kits. Biotechnology and healthcare companies have increased the production of RT-PCR-based testing kits due to the rapid rise in the number of COVID-19 cases around the world.
Based on the Technology Insights, the market is segmented into LAMP Technology, PCR, Electrophoresis, Chromatography, Flow Cytometry, Sequencing, Cell Culture, Other Technologies.
- Cell culture technology dominated the market with a revenue share of more than 24% in 2020 and is followed by Polymerase Chain Reaction (PCR) technology. Increasing demand for cell culture reagents by the research community is driving the segment growth.
- PCR is one of the key technologies used for the detection and analysis of specific gene sequences. Currently available real-time PCR assays offer high specificity and sensitivity, and are, thereby, considered the go-to methods for various genomic studies.
- Next-Generation Sequencing (NGS) is now considered a reliable and powerful tool for the characterization of cell lines used for the production of gene therapy, vaccines, and recombinant proteins.
Based on the Tested Parameters Insights, the market is segmented into DNA, RNA, Enzymes, Proteins, Others.
- The RNA segment accounted for the largest revenue share of over 29% owing to the increasing research on transcriptomics. Research on extracellular RNA for clinical diagnosis has increased over the past five years.
- It enables RNA extraction-free sample preparation, which is automation-friendly. Such advancements are expected to drive market growth.
Based on the Micro-Organisms Insights, the market is segmented into Bacteria, Virus, Fungi, Parasites.
- The virus segment accounted for the highest revenue share of over 31% in 2020, which is closely followed by the bacteria segment. The dominance of the segment can be attributed to the increasing application of viruses in gene therapy and vaccinology.
- Furthermore, the outbreak of SARS-COV-2 infection acts as a driving factor for the market as there is an increase in demand for viral reagents, which is propelling the segment growth.
- The use of therapeutic bacteria has revolutionized cancer management by enabling addressing certain limitations associated with conventional cancer therapies like surgery, radiotherapy, chemotherapy, and immunotherapy.
Based on the Purpose Insights, the market is segmented into On-Site, Laboratory.
- The on-site purposes segment led the market in 2020 with a revenue share of over 55%. The rising utilization of Point-of-Care (POC) testing has primarily driven the segment growth.
- On-site testing applications in the food and beverage industry also aided the market expansion. It includes microbiological on-site testing and enzymatic on-site testing.
- A broad variety of research reagents contribute to the growth of various fields in science and medicine. Laboratory reagents are employed in various assays and methodologies, such as to support Immunohistochemistry (IHC), cell culture, flow cytometry, cell selection, flow cytometry, protein purification, immunodepletion, and others. In vitro reagents are crucial in clinical chemistry and testing laboratories.
Based on the End-use Insights, the market is segmented into Healthcare, Food & Agriculture, Natural Resources & Environment, Industrial Processing, Others.
- The healthcare sector dominated the market in 2020 with a revenue share of over 50%. The segment will retain the leading position throughout the forecast years owing to the ongoing clinical trials and research & development activities for clinical diagnostics.
- Moreover, a shift in preference toward molecular diagnostics and personalized medicine has increased mergers and collaborations for developing novel technology. This has subsequently driven the demand for various advanced products in the healthcare sector.
- The rising penetration of biotechnology tools to create traits of organisms including animals, plants, as well as microbes for yield, size, and color is propelling the market growth for the food & agriculture segment.
Biotechnology Reagents & Kits Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is expected to witness tremendous growth in the near future. A rise in the number of technological collaborations between operating entities coupled with their expanding product portfolio has intensified the market competition.
Some prominent players in the global biotechnology reagents & kits market include
- Thermo Fisher Scientific
- New England Biolabs
- Illumina, Inc.
- Agilent Technologies, Inc.
- Bio-Rad Laboratories
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Promega Corp.
- Takara Bio, Inc.
- LGC Ltd.
- Toyobo Co. Ltd.
Order a free sample PDF of the Biotechnology Reagents & Kits Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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