The widespread applications of biotechnology reagents in imaging and diagnostics procedures such as PCR, cell culture, chromatography, flow cytometry and others globally, which are the major driving factors and is expected to support the rise in the biotechnology reagents market in the near future
Global biotechnology reagents market, By Applications (Fluorescent Microscopy, DNA Analysis, Immunophenotyping, Cell Cycle Analysis), By Product (DNA Sequencing Reagents, Electrophoresis Reagents, Flow Cytometry Reagents, Immune Assay, Liquid Chromatography, Polymerase Chain Reagents, Cell/Tissue Culture Reagents, Protein Synthesis Reagents), By Technology (IVD, PCR, Transfection, Gene Expression, Cell Culture) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global biotechnology reagents market is estimated for more than US$ 76.6 Bn in the year 2020 and expected to grow at a significant CAGR of 7.5% during the forecast period and expected to reach the value of more than US$ XX Bn in 2028.
As per the report,any substance, compound, or an amalgam which serves its utility for the trial of the existence of another substance or compound in the emulsion by chemical reaction.
Reagents can be both inorganic and organic relying on their properties and content. Biological reagents promote its utility in several different areas such as genetics, research, diagnosis, molecular biology, bioscience, and immunology. Owing to which, the global biotechnology reagents market is expected to advance further in the near future.
The surging research activities in different fields such as food and beverages, pharmaceuticals, as well as agriculture biotechnology is also projected to give a breakthrough to the growth of the global biotechnological reagents market in the forthcoming future.
Likewise, the climbing usage of biotechnology reagents in commercial fields across the world is also supporting the positive growth of the global biotechnology reagents market. Along with that, the rising R&D expenditure from several governments as well as biotech companies all around the world is also giving a positive push to global market growth.
Moreover, traditional methods such as DNA chips, proteomics, combinatorial chemistry, and high throughput screening are also projected to propel the growth of the global biotechnology reagents market in the near future.
In addition to that, stem cell research gaining momentum in the past few years with respect to further research and development activities across the world, which is also acting as a positive driver to the growth of the global biotechnology reagents market. Simultaneously, the swelling count of biotechnology firms all around the world is also similarly boosting the growth of the global market.
However, there are several rigorous principles by several governments across the world for the authorization of reagents is likely to hold back the growth of the global biotechnological reagents market in the near future. Furthermore, the expensive pricing of biotechnology reagents is also expected to hinder the growth of the global biotechnology reagents market in the coming years.
MMC study identifies some of the key participating players in the biotechnology reagents market globally are Thermo Fisher Scientific Inc., Sigma-Aldrich, Bio-Rad Laboratories, F. Hoffmann-La Roche, Agilent Technologies Inc., Water Corporation, Becton Dickinson, Abbott, Beckman Coulter and Life Technologies, Bio-Rad Laboratories, and among several others.
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