Biotechnology Reagents & Kits Market Trends, Industry | 2031

Report Description

Biotechnology Reagents & Kits Market Outlook 2031

The global biotechnology reagents & kits market size was valued at USD 454.63 Tillion in 2022 and is anticipated to reach USD 1.74 Trillion by 2031 expand at a CAGR of 16.1% during the forecast period, 2023–2031. The growth of the market is attributed to the rising advancements in the technologies and research activities, growing molecular biology application, and increasing demand of biotechnology.

Biotechnology reagents are compounds or substances that are used to synthesize or detect other compound to give a reading of test. These reagents have application in the field of diagnosis, research, education, and bioscience. The Biotechnology reagents utilize technology such as spectrometry, cell culture, IVD, flow cytometry, chromatography, expression and transfection, PCR, and electrophoresis.

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The development in several engineering tools, molecular biology field, and approaches are established to meet the growing demand in the market. Increasing research in molecular biology has boosted the application of biotechnology reagents & kits in the recent times. The advancements in the arena of genomic sequencing in the past few years has also propelled the market growth.

Over the past few years, the high technological advancements in the areas such as big-data analysis & storage, genome engineering, high-throughput sequencing, and gene therapy.

The COVID-19 pandemic outbreak showed a positive growth in the market as the use of biotechnology reagents were widely used for development of COVID-19 diagnosis. The research on the COVID-19 detection showed that the flow cytometry-based method was a potential candidate for COVID-19 testing. Scientists utilize the method for detecting the types of T cells that are released in the body for immune response against COVID-19 virus.

This result upsurge the use of flow cytometry reagents & kits, and propelled the market. RT-PCR assay technique is widely used method for diagnosis of viral RNA in COVID-19 suspected patients. The Center for Disease Control (CDC) has set a protocol for use and validation of various kits for the extraction of nucleic acid. Isolation of nucleic acids is an integral part of the COVID-19 testing workflow.

Biotechnology Reagents & Kits Market Trends, Drivers, Restraints, and Opportunities

• Heavy investments by the biotechnology companies in research and development, rise in the biopharmaceuticals, increasing quantity of biotechnology firms, and advancement of technology are anticipated to bolster the market in the near future.
• Rising commercial applications, increasing number of the protein profiling, as well as the growing use of biotechnology reagents in therapeutics are expected to boost the market growth.
• Inclusion of environmental implementations and stem cell research are the key factors expected to fuel the market growth during the forecast period.
• High cost of biopharmaceuticals is anticipated to act as a restraint for the market during the projected period.
• Rising demand for purification kits and nucleic acid isolation is offering new opportunities for the market expansion in the near future.

Scope of The Biotechnology Reagents & Kits Market Report

The report on the global biotechnology reagents & kits market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Biotechnology Reagents & Kits Market Segment Insights

Detection kits segment is expected to grow at a robust pace

Based on kit types, the global biotechnology reagents & kits market is divided into purification kits, amplification kits, detection kits, isolation kits, and others. The detection kits segment is estimated to grow at a robust pace during the forecast period owing to the COVID-19 outbreak and use of detection kits in diagnosis of COVID-19.

The increase in the demand for detection kits has tremendously boosted the production and sells of the kits in the recent months. The other sections of application of these kits are industrial processing, food, healthcare, and agriculture.

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The Defence Institute of Physiology and Allied Sciences (DIPAS) and the Defence Research and Development Laboratory in May 2021 launched a kit which is antibody-dependent named as DIPCOVAN DIPAS-VDx. These kits are able to identify both nuceleocapsid and spikes proteins of the COVID-19 virus with nearly 99% specificity and 97% sensitivity.

The molecular diagnostics is a key contributing segment in the coming years due to rising demand for the diagnostics. The RT-PCR-based kits is a part of molecular diagnostics has gained huge demand in the pandemic and hence the growth chart of the segment in inclining.

Cell culture technology segment is projected to expand at a considerable CAGR

On the basis of technology, the market is segmented into lamp technology, PCR, cell culture, sequencing, chromatography, electrophoresis, flow cytometry, and other. The Cell culture technology segment is projected to expand at a considerable CAGR during the forecast period attributed to the high demand and extensive R&D activities in the field. The biotechnology companies are adopting to the segment, which is boosting the growth rate of the segment.

The PCR is the second high grossing segment in the market as the technique is highly effective for the analysis and detection of gene sequences. The genomic studies utilize this technique due to its high effectiveness as well as accurate results. The COVID-19 pandemic has also increased the use of PCR for the detection of virus.

Next-generation Sequencing (NGS) is also a segment with considerable market growth opportunities as it is a strong tool for characterization of cell line as well as it is a reliable technique. It has its application in gene therapy, recombinant proteins, and vaccines.

RNA segment is projected to grow at a substantial rate

In terms of tested parameters, the global biotechnology reagents & kits market is classified into DNA, RNA, enzymes, proteins, and others. The RNA segment is projected to grow at a substantial rate in the coming years due to rising research and development of improved techniques. Growing interest of universities and companies to develop the RNA-based therapeutics is boosting the market growth.

Meanwhile, the DNA segment is expected to exhibit fast growth pace as it has various applications in pharmacogenomics diagnostic testing, newborn genetic screening, identity diagnostics & forensics, and drug metabolism.

Virus segment is anticipated to expand at a significant growth rate

On the basis of micro-organisms, the market is divided into bacteria, virus, fungi, and parasites. The virus segment is anticipated to expand at a significant growth rate during the projected period owing to the wide application of virus-based clinical testing in the field of vaccines as well as gene therapy development.

Rising research and development activities in the use of virus as a vector in the vaccine development is a key factor for the dominance of this segment in the market. Moreover, the COVID-19 outbreak has significantly contributed for the segment improvement as the demand for viral reagent was increased in the period.

The bacterial segment accounted for a large revenue share in 2019 and is anticipated to hold a key market share in the coming years attributed to the use of bacteria in the cancer management. Bacteria’s ability to work as an anti-cancer agent is the major driving factor for the segment in the coming time period.

On-site segment is estimated to exhibit a considerable growth rate

On the basis of purposes, the global biotechnology reagents & kits market is bifurcated into on-site and laboratory. The on-site segment is estimated to exhibit a considerable growth rate owing to increase in Point-of-Care (POC) testing as well as accurate and quick POC testing. The segment has its extensive applications in the beverage and food industry.

The on-site testing includes enzymatic and microbiological testing. The enzymatic o-site testing measures the constituents as alcohol, sugar, and acid in food. The microbiological on-site testing has its application in identification of bacteria, molds, and virus in food.

The laboratory reagent segment, however, is expected to grow substantially in the coming years owing to the presence of several methodologies and assays which are flow cytometry, support Immunohistochemistry (IHC), protein purification, cell culture, cell selection, immunodepletion, and others. 

Healthcare segment is projected to expand at a fast pace

Based on end-users, the market is segmented into healthcare, food & agriculture, natural resources & environment, industrial processing, and others. The healthcare segment is projected to expand at a fast pace during the projected period and represented with more than 50% of the global revenue share in 2019.

This is because of extensive R&D and clinical trials for clinical diagnostics as well as rising number of collaborations and mergers of the key market players. On the other hand, the food & agriculture segment is expected to boost rapidly in the near future owing to the use biotechnological tools in plants and animals for improving their yield, color, and size.

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North America is anticipated to constitute a key market share

In terms of regions, the global biotechnology reagents & kits market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the well-developed healthcare facilities as well as extensive high quality research and presence of skilled professionals.

Furthermore, the high number of novel product development and the presence of new major companies in the region play key roles in the regional market development. Meanwhile, the market of Asia Pacific is anticipated to grow at an impressive  pace as high disposable income of a large number of the population, rising research activities, and development of therapeutic and diagnostic infrastructure in the region.

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