Biotechnology Reagents Market by Technology, Applications and End-Users - Current Trends, Opportunities and Global Forecasts to 2016
Dallas 7/30/2012 07:05 AM GMT (TransWorldNews)
Biotechnology reagents are the substances or compounds used to detect or synthesize another substance in order to provide a test reading. These reagents are used in the field of research, diagnosis, bioscience, and education.
The biotechnology reagent market is vast; it consists of several technologies such as PCR, cell culture, IVD, expression and transfection, chromatography, spectrometry, electrophoresis, and flow cytometry. This report studies the biotechnology reagents market, by technology, end-users, and applications. The biotechnology reagents market, by technology studied in this report are segmented as life science reagents and analytical reagents; of which life science segment accounted for the largest share of 59.37% of the total market in 2011. The global biotechnology reagents market was valued at $40.3 billion in 2011 and is expected to reach $59.3 billion by 2016; growing at a CAGR of 8% from 2011 to 2016.
The biotechnology reagents market is driven by the increasing use of reagents in therapeutics, basic research and commercial applications. The demand for biotechnology reagents is mainly dependent upon the growth of the biotechnology instrumentation market. The biotechnology instrumentation market continues to witness significant growth due to an increase in the number of biotechnology firms around the globe and increase in research and development expenditure by the biotechnology companies, thus augmenting the demand for biotechnology instruments. Continual product developments are being witnessed in various industries, such as pharmaceutical/bio-pharmaceutical, agri-biotech, and food and beverages; this is expected to facilitate market growth.
North America dominated the biotechnology reagents market with 46.28% share in 2011. Successful completion of the first phase of the Human Genome Project, ahead of schedule, has given rise in the U.S. reagent market. Investments, government funding, and new products are driving the reagents market in the U.S. The Asian market, however, shows greater opportunities, when compared to other regions, with the highest CAGR of 11.8% from 2011 to 2016; due to increased research outsourcing activities in the life technology field.
Major players in the global biotechnology reagents market include Life Technologies, (U.S.), Bio-Rad (U.S.), Thermo Fisher Scientific (U.S.), Water Corporation (U.S.), Sigma-Aldrich (U.S.), Agilent Technologies Inc. (U.S.), Betcon Dickinson (U.S.), Beckman Coulter (U.S.), Roche (Switzerland), and Abbott (U.S.).