Biotechnology Reagents Market To Prosper With 9.54% Of CAGR During The Forecast Period 2019-2027

Triton Market Research presents their Global Biotechnology Reagents Market report segmented by technology (life science reagent, analytical reagent market), applications (protein synthesis & purification, gene expression, DNA & RNA analysis, and drug testing); and by geographical region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).

Triton Market Research expects the global biotechnology reagents market to witness a compound annual growth rate of 9.54% during the forecasted period 2019-2027. The market growth is being propelled by factors like innovation in bioprocessing technologies, increasing use of protein profiling applications, and growing R&D. Over the forecast period, the market is also likely to enjoy opportunities like growing interests in environmental and stem cell research. However, regulatory issues all over the world and increasing cost of biopharmaceutical research could subsequently restrain the market expansion.

Gene expression is the most popular application area in this market. Other key applications include drug testing and DNA and RNA profiling. In terms of technology, the life science reagents contributed a significant share in 2018. These include PCR, cell culture, expression and transfection, etc.

Geographically, the Asia-Pacific biotechnology reagents market is likely to showcase a healthy growth over the forecast period of 2019-2026. China, India and Japan are the major geographies which help to drive the biotechnology reagents market in the Asia Pacific. GMO Crops plays a key role in the agricultural sectors of this region, which is a backbone of several APAC economies.  In the recent years, the investments by these economies have also significantly contributed to the market growth. For instance, in India, vaccines contributed the largest market share with 60% of the total biopharmaceutical market.  The Japanese biotechnology reagents market is prospering due to growing industries for fermentation, enzyme production, food additives etc. However, the lion’s share comes from the China biotechnology reagents market which has a strong pharmaceutical industry and has witnessed an increasing healthcare spending in the recent years.

Increasing R&D expenditure by companies is the singular reason why the market has prospered so much in the past few years.  It is estimated that in 2016, biotechnology companies globally spent nearly $44.11 billion on R&D. Some of the prominent companies that are competing in this market include Beckman Coulter Inc., Abbott Laboratories, Agilent Technologies Inc., Biotime Inc., Bio-rad Laboratories Inc., Cyano Biotech Gmbh, Becton, Dickinson & Company (BD), Biomeriux, and Bio-Techne Corporation.