Biotechnology reagents are compound or substances which are mainly used to analyze other compounds by a chemical reaction process. These reagents are grouped into organic and inorganic mainly depending on its composition. The examples of certain commonly used biotechnological reagents are Fenton’s reagent, Collins reagent, and others. Generally, these reagents are used to discover certain substances present in the biological solutions. They have a number of applications in the various sectors such as research, diagnosis, bioscience, and education. Biotechnology reagents are also utilized in biomedical, therapeutics, and in commercialization. These reagents incorporate antibodies (monoclonal and polyclonal), all types of model organisms and immortalized cell lines, oligomers, reagents & processes for DNA replication & molecular cloning, and many others. The market for biotechnology reagent is enormous; it comprises numerous technologies such as cell culture, polymerase chain reaction, IVD, transfection & expression, spectrometry, chromatography, flow cytometry, and electrophoresis.
The application of the reagents in the DNA chips, high throughput screening, combinatorial chemistry, and proteomics helps boost the global biotechnology reagent market. Rising R&D spending by biotechnology organizations elicits the growth of biotechnology reagent market. Continuous product improvement by the pharmaceuticals, agro-biotech and food & beverage aptly contribute to the significant growth of the market. Though, the increasing price of biopharmaceutical products and high R&D expenditure may restrict the market growth. However, an extensive array of unexploited opportunities and environment applications are expected to open new avenues for the market in the coming period.
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The growth of the market for biotechnological reagent is co-dependent on the growth of the market for biotechnological instrumentation. Thus, the growth of the biotechnological instrumentation market coupled with increasing digit of biotechnological industries and rise in biotechnological research and development is anticipated propel the growth of the market in the coming period. Biomedical research that consists of drugs analysis and several active pharmaceutical ingredients and labeling or marking of the compounds also positively influences the market growth. Besides the abovementioned applications of reagents, they are also applied in the genetics, stem cell research, and immunology fields.
The global biotechnology reagents market is projected to achieve $77.6 Billion by 2018 that is equivalent to a growth rate of almost 8.6%.