Demand On Biotechnology Reagents Market to Witness Impressive Growth, Revenue to Surge to USD 159.2 Billion By 2028, at a CAGR of 9.4% (Including COVID-19 Impact Analysis): Zion Market Research
NEW YORK, Feb. 23, 2022 /PRNewswire/ -- As per Zion Market Research study, The Global Biotechnology Reagents Market accounted for USD 77.4 Billion in 2020 and is expected to reach USD 159.2 Billion by 2028, growing at a CAGR of around 9.4% between 2021 and 2028.
Biotechnology reagents are being used in a wide range of areas, including basic science, biomedical research, and therapeutics. Furthermore, biotech companies' significant R&D budgets would fuel demand for biotechnology reagents. Various sectors, such as pharmaceutical/biopharmaceutical, agri-biotech, and food and beverages, are constantly developing new products, which is expected to help the market expand. However, that biopharmaceutical product costs, as well as significant R&D spending, are expected to obstruct the growth of the biotechnology reagents industry in the coming years.
Technology Segment Analysis Preview:
Chromatography is a separation technique that is primarily used in drug development to verify drug precision, sensitivity, and purity. Chromatography is expected to witness a strong market share of around 30 % share of the total market share because for drugs and biologics, it's often used to validate analytical techniques and processes. Since chromatography methods are widely used around the world, demand for their reagents is still strong for a variety of pathological and academic applications. Additionally, expanded support for biotechnology research is helping to drive segment expansion
Application Segment Analysis Preview:
Protein synthesis is the development of new proteins by biological cells. The measures that involve an active gene product may be a target of regulatory bodies in most gene sequencing. For nucleic acid detection and biotech applications, DNA and RNA chromatography is widely used. Drug testing is one of the most popular uses for biotech reagents. The biotechnology reagents demand is expected to be driven by all of these applications, drug testing holding the largest market share.
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COVID-19 Impact Analysis:
The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand of auto parts of the vehicles. The market would remain bullish in upcoming year. The significant decrease in the global biotechnology reagents market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
Report Scope:
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The Global Biotechnology Reagents Market is segmented as follows:
Biotechnology Reagents Market: By Technology Outlook (2022-2028)
- Chromatography
- Electrophoresis
- PCR
- Mass spectrometry
- Flow cytometry
- Expression and Transfection
Biotechnology Reagents Market: By Application Outlook (2022-2028)
- DNA & RNA analysis
- Protein purification
- Drug testing
- Gene expression
Biotechnology Reagents Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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List of Key Players of Biotechnology Reagents Market:
- Abbott
- Beckman Coulter
- Agilent Technologies Inc.
- Water Corporation
- Bio-Rad
- Roche
- Sigma-Aldrich
- Life Technologies
- Betcon Dickinson
- Thermo Fisher Scientific
- Others.
Key questions answered in this report:
- What are the growth rate forecast and market size for Biotechnology Reagents Market?
- What are the key driving factors propelling the Biotechnology Reagents Market forward?
- What are the most important companies in the Biotechnology Reagents Market Industry?
- What segments does the Biotechnology Reagents Market cover?
- How can I receive a free copy of the Biotechnology Reagents Market sample report and company profiles?
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