The global Biotechnology Reagents & Kits market size is expected to be worth around US$ 1.14 Trillion by 2030, according to a new report by Vision Research Reports.
The global Biotechnology Reagents & Kits market size was valued at US$ 437.28 billion in 2020 and is anticipated to grow at a CAGR of 26.5% during forecast period 2021 to 2030.
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.
Increasing research and development expenditure for life sciences and biotechnology research is expected to drive the market significantly in the coming years. Over the past few decades, the biotechnology sector has witnessed a paradigm shift toward new treatments & drugs, biologically controlled production processes, genetically modified foods, biologically based computing, and new materials, thereby propelling the market growth.
Advancements in molecular diagnostic techniques, such as droplet digital PCR, NGS, and genome-wide sequencing with respect to accuracy, reproducibility, and timeline, have influenced the adoption of biotechnology reagents & kits in the market. The advent of long-read sequencing has made sequencing of longer strands of DNA possible by only reading single DNA molecules, in turn, driving the market growth.
The detection kits segment dominated the market in 2020 with a revenue share of over 32%. This can be attributed to the widespread utilization of detection kits at various end-use settings, such as healthcare, industrial processing, food, and agriculture. With the growing need to curb the COVID-19 virus, the production of detection kits has increased over the past few months.
For instance, in May 2021, the Defence Research and Development Organisation’slaboratory, the Defence Institute of Physiology and Allied Sciences (DIPAS), introduced an antibody-dependent kit DIPCOVAN DIPAS-VDx SARS-CoV-2 IgG antibody Microwell ELISA for sero-surveillance. 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.
Cell culture technology dominated the market with a revenue share of more than 34% 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. The comprehensive portfolio of cell culture media and reagents owned by companies has supplemented the market 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. Currently, the PCR technique is considered the most accurate, for the detection of COVID-19, leading to a significant increase in the adoption of PCR testing kits and reagents.
The RNA segment accounted for the largest revenue share of over 39% owing to the increasing research on transcriptomics. Research on extracellular RNA for clinical diagnosis has increased over the past five years. Companies and universities are entering into the field for the development of RNA-based therapeutics by the virtue of transcriptomic technologies. Key industry participants are constantly introducing new products to drive the market. For instance, in March 2021, PromegaCorp. launched XpressAmp Direct amplification reagent.
It enables RNA extraction-free sample preparation, which is automation-friendly. Such advancements are expected to drive market growth.DNA testing has significant application in newborn genetic screening, identity diagnostics & forensics, pharmacogenomics diagnostic testing, and drug metabolism, which is expected to drive the segment growth. Increasing demand for DNA diagnostics technology is the major driver of this segment.
The virus segment accounted for the highest revenue share of over 41% 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. Increasing R&D to support the use of recombinant viral vectors in vaccine development further drives the segment.
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 rising number of SARS-CoV-2 cases has fueled the demand for tests and reagents for testing as well as research purposes, thereby driving developments in the segment.
The on-site purposes segment led the market in 2020 with a revenue share of over 65%. The rising utilization of Point-of-Care (POC) testing has primarily driven the segment growth. Efficient and timely POC testing based on the availability of POC reagents has supplemented 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. Microbiological on-site testing is used in the detection of viruses, bacteria, and molds in food. Enzymatic on-site testing is used in the measurement of constituents, such as acid or alcohol and sugar in foods. This test is essential when analyzing beverage and dairy products.
The healthcare sector dominated the market in 2020 with a revenue share of over 60%. 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. For instance, in March 2021, Roche and GenMark diagnostics entered into a merger agreement to introduce innovative technology to test a wide range of pathogens with one patient specimen. GenMark’sePlex platform provides quick and effective results.
North America dominated the global market with a revenue share of more than 47% in 2020. The presence of key players actively developing technologically advanced novel products coupled with the introduction of several new products by emerging start-ups has majorly contributed to the dominance of the region.
|Market Size||US$ 1.14 Trillion by 2030|
CAGR of 26.5% From 2021 to 2030
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Kit type, Technology, Tested Parameters, Micro-Organisms, Purpose, End Use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Thermo Fisher Scientific; QIAGEN; 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.|
Thermo Fisher Scientific
New England Biolabs
Agilent Technologies, Inc.
F. Hoffmann-La Roche Ltd.
Takara Bio, Inc.
Toyobo Co. Ltd.
Kit Type Outlook
Tested Parameters Outlook
Food & Agriculture
Natural Resources & Environment
Middle East Africa (MEA)
The Biotechnology Reagents & Kits market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Biotechnology Reagents & Kits market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Biotechnology Reagents & Kits market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Biotechnology Reagents & Kits market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Biotechnology Reagents & Kits market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Biotechnology Reagents & Kits capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Biotechnology Reagents & Kits by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Biotechnology Reagents & Kits market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Biotechnology Reagents & Kits market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Biotechnology Reagents & Kits market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Biotechnology Reagents & Kits industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Biotechnology Reagents & Kits market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Biotechnology Reagents & Kits market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Biotechnology Reagents & Kits market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Biotechnology Reagents & Kits market. These factors have benefited the growth of the global market for Biotechnology Reagents & Kits. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Biotechnology Reagents & Kits. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Biotechnology Reagents & Kits are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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