Global Biotechnology Reagents Market to Reach US$38.3 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.
San Jose, California, Apr 19, 2012 (PRWeb.com via COMTEX) --
Follow us on LinkedIn - Biotechnology industry has grown immensely in the past years. Modern biotechnology combines molecular and cellular biotechnology, genetics and human immunology, drawing heavily upon research in genetic engineering or recombinant DNA technology. Fortunes of the industry depend to a large extent on innovative products and addressing unmet needs. This scenario presents enormous opportunities for related markets such as reagents and supplies, which are dependent to a large extent on the market for biotechnology instrumentation, which continues to witness significant growth. Biotechnology instruments' major application areas include the pharmaceutical industry, forensic medicine, and the agricultural industry. Emerging sectors in drug discovery arena such as proteomics, DNA chips, combinatorial chemistry, and high throughput screening, are fuelling demand for bioinstruments by the life science industry. Agriculture and food and beverage markets are also accepting biotech instrumentation.
Increasing research in the biomedical field is leading to an upsurge in the demand for biomedical research reagents and kits. Growing usage of kits can be attributed mainly to increasing realization about efficient use of resources for productive and result-oriented research. This has also resulted in a booming market for biotechnology research reagents that are used by universities, state-run laboratories, biotechnology and drug companies. With the focus shifting from the gene towards the protein, disciplines such as molecular biology and protein synthesis continue to gain wide attention from the academic and commercial sectors alike. Constant refinement and advances in technologies, such as conventional cell culture, recombinant DNA, high throughput screening and bio-therapeutics, have enhanced the scientific community's ability to identify and produce important human therapeutic agents. The availability of bulk quantities of reagents, such as monoclonal antibodies (MAbs), revolutionized basic research, medicine, and commerce.
Serum-free media is one of the rapidly growing segments in the reagents market. Growth in serum-free products can be attributed to strategic and regulatory merits of using little or no animal-based raw materials. Use of standard media by the industrial sector climbed up due to breakthroughs in application areas of monoclonals for diagnostics, biopharmaceutical therapeutics, and human and veterinary vaccines. Apart from the serum-free media, chromatography reagents market is also forecast to witness robust growth in the upcoming years, primarily driven by the robustly growing biopharmaceuticals sector. Additionally, chromatography reagents market also experienced a definite boost from the increase in quality control and research applications in the field of life sciences.
The United States represents the largest market for biotechnology reagents, as stated by the new market research report on Biotechnology Reagents. Asia-Pacific represents the fastest growing market for biotechnology reagents, exhibiting a CAGR of more than 7.52% during the analysis period 2009-2017. Immunoassay Reagents represents the largest segment. Cell Culture Reagents is the fastest growing segment, and is expected to grow at a compounded annual growth rate of 12% during the analysis period. Nucleic-Acid reagents, particularly DNA sequencing reagents are expected to witness significant growth in the US. Approximately 10,000 US laboratories perform sequencing, and of these, one-third mainly uses automatic techniques. Manual sequencing uses slab gels, electrophoresis, and radioisotope (or alternative) labels for tracing.
A major challenge faced by the biotechnology reagents industry is the rising presence of highly automated instrumentation, which is tempering use of reagents. Automation results in highly efficient and optimal utilization of reagents and minimizes wastage, thereby leading to a significant reduction in the usage of reagents. However, continued popularity of manual procedures and a marked reluctance by scientists to upgrade their software skills is likely to ensure robust consumption of biotech reagents.Major players profiled in the report include Abbott Diagnostics, Beckman Coulter Inc., Becton Dickinson and Company, BioMérieux SA, EMD Biosciences Inc., EMD Millipore Corp., Fitzgerald Industries International, GE Healthcare, Life Technologies Corp., Ortho-Clinical Diagnostics, PerkinElmer Inc., Promega Corp., Roche Diagnostics Ltd., Siemens Healthcare Diagnostics Inc., Sigma-Aldrich, among others.
The research report titled "Biotechnology Reagents: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the biotechnology reagents market, current market trends, key growth drivers, an insight into the biotechnology market, new product innovations/launches in biotech reagents space, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the global Biotechnology Reagents market for the years 2009 through 2017 for the regions, including US, Canada, Japan, Europe, Asia-Pacific, and Latin America. Key product segments analyzed include Cell/Tissue Culture Reagents, DNA Sequencing/Synthesis Reagents, Electrophoresis Reagents, Flow Cytometry Reagents, Immunoassay Reagents, Liquid Chromatography Reagents, Polymerase Chain Reaction Reagents, and Protein Synthesis Reagents. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit -
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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