Reagents are substance, mixture or compound, which are utilized for examination of other substance or compound by chemical reaction. They are either inorganic or organic based on the composition. Fenton’s reagent, Collins reagent, and Grignard reagent are few of the exemplars of organic reagents. Biotechnology reagents are utilized to recognize substance or compound in the biological solutions. These reagents are utilized in the field of diagnosis, bioscience, education, and research.
As per the report, in 2015, the global biotechnology reagents market was esteemed at over USD 56.4 billion, and by 2021, is projected to achieve above USD 94.6 billion, and between 2016 & 2021, is expected to develop at a CAGR of somewhat above 9.0%.
Increasing R&D spending by biotechnology industries stimulates the growth of the market for biotechnology reagents. Established techniques, including proteomics, DNA chips, high-throughput screening, and combinatorial chemistry show probable growth of the market. Continuous product development by the pharmaceuticals, agro-biotech, and food and beverage aptly contribute to the remarkable market growth. However, the increasing price of biopharmaceutical products and the high R&D expenditures hamper the growth of the market.
The biotechnology reagent market can be classified based on application, end-user, technology, and region. Applications segment of the biotechnology reagents market can be divided into protein purification, DNA & RNA analysis, gene expression, and drug testing. Protein purification followed by gene expression and drug testing are demonstrating the extraordinary growth recently owing to a huge requirement from life science field for developing new products. The end-users segment of the market includes pharmaceuticals, biotech companies, diagnostic centers, and research institutes among others. Biotech companies appear as biggest segment owing to the augmented requirement for R&D section. Technology segment consists of electrophoresis, chromatography, mass spectrometry, PCR, expression, transfection, and flow cytometry. Tissue culture reagents and chromatography reagents are projected to observe vibrant growth in the expected duration due to various developments in biotechnology industries.
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Recently, Quotient Limited declared about the clearance received for the 8 new rare antisera blood typing reagent products manufactured by it for commercialization in the United States.
Some of the major players in the biotechnology reagents market are Agilent Technologies Inc., Water Corporation, Beckman Coulter, Bio-Rad, Abbott, Sigma-Aldrich, Roche, Life Technologies, Thermo Fisher Scientific, and Betcon Dickinson among others.