Biotechnological reagent market growth is co-dependent on the development of biotechnological instrumentation market. Hence, the growth of the biotechnological instrumentation market along with rising number of biotechnological companies and growing spending in biotechnological R&D are key drivers for the development of the market over the forecast period. Biomedical research that involves drugs analysis and various API (Active Pharmaceutical Ingredients) and marking or labeling of the molecules also contributes towards the positive growth of the market. Along with the stated drivers, reagents are needed in the fields of stem cell research, genetics, immunology and education. Technological advancement such as proteomics, combinatorial chemistry, DNA chips, and high throughput screening is anticipated to increase the market share owning to increased usage rates of reagents.
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The biotechnology reagent market segmentation by product is the largest segment of the market. Chromatography reagents and tissue culture reagents are expected to witness lucrative growth over the forecast period due to innovations in biotechnology industry and increased use of chromatography for the purpose of analysis.
Hybridization of liquid chromatography with various other techniques opens new horizons for the market. The technology segment of the market particularly the life science reagents are the major contributors and held the highest share in 2014, owning to continuous work in the Human Genome Project that requires polymerase chain reaction reagents on a regular basis.
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Globally, North America dominates the market owing to state of the art analytical and R&D infrastructure, new product developments, encouraging government policies and high investments into the biotechnological reagent development market. Increasing demand of reagent utilization in the field of molecular biology is expected to sustain the supremacy. Asia-Pacific region is expected to show growth over the forecast period due to increasing research and outsourcing to the region. Forces driving outsourcing of research to the region are low cost, higher manpower, and compliant government regulation and policies.
Key market players in biotechnology reagent market are Bio-Rad Laboratories, Sigma-Aldrich, Betcon Dickinson, F. Hoffmann-La Roche, Agilent Technologies Inc., Water Corporation, Thermo Fisher Scientific Inc., Abbott, Beckman Coulter and Life Technologies. Bio-Rad Laboratories are one of the largest PCR reagent kit providers.
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