BIOTECHNOLOGY REAGENTS AND KITS MARKET ANALYSIS

The global biotechnology reagents and kits market was valued at US$ 595.3 Mn in 2022 and is forecast to reach a value of US$ 1426.7 Mn by 2030 at a CAGR of 11.5% between 2023 and 2030. The global biotechnology reagents and kits market is experiencing strong growth due to the Increasing research and development expenditure for life sciences and biotechnology research. Moreover, high investments in the molecular biology is expected to boost the market growth. However, factors such as high cost of advanced molecular testing equipment are expected to hamper the market growth

Global Biotechnology Reagents and Kits Market: Regional Insights

• Based on geography, the global biotechnology reagents and kits market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
• Among regions, North America is expected to gain highest share in the market during the forecast period due to the increasing adoption of inorganic growth strategies such as acquisition is expected to drive the growth of the global biotechnology reagents and kits market over the forecast period. For instance, in June 2022, Bio-Rad Laboratories, Inc., a U.S.-based developer and manufacturer of specialized technological products for the life science research and clinical diagnostics markets launched CFX Duet Real-Time PCR System to help researchers develop singleplex and duplex quantitative polymerase chain reaction assays. Bio-Rad Laboratories Inc., developer and manufacturer of specialized technological products for the life science research and clinical diagnostics markets announced the launch of the CFX Duet Real-Time PCR System on May 26, 2022. The CFX Duet is designed to help researchers develop singleplex and duplex quantitative polymerase chain reaction (qPCR) assays.
• Europe region is also expected to witness significant growth in the global biotechnology reagents and kits market due to increasing launch of new products in these region. For instance, august 2020, Eurofins technologies launched reagents for automated isolation of high-quality COVID-19 RNA from viral particles of a patient’s respiratory samples. The reagents magnetic bead based, automated method retrieves & isolates virus particles and their corresponding RNA on various sensitive stands, for subsequent RT-PCR analysis.

Figure 1. Global Biotechnology Reagents and Kits Market Share (%), by Region, 2023

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Global Biotechnology Reagents and Kits Market Drivers:

Growing demand for synthetic biology

• Supportive government policies associated with synthetic biology are key driving factors of the biotechnology reagents & kits market. Developed economies, such as the UK and the U.S., are actively engaged in providing funds for R&D initiatives in synthetic biology. For instance, in March 2021, a roundtable meeting was arranged by the National Academies of Sciences, Engineering, and Medicine. This initiative aims to explore synthetic biology and the associated science, policy, and industry capabilities. Government agencies such as the SynBERC (synthetic Biology Engineering Research Centre) and National Science Foundation (NSF) are instrumental in periodic synthetic biology evaluation.
• Moreover, synthetic biology is comparatively a new and unexplored technology. Industry participants dealing in this field, strive continuously toward developing proprietary and new technologies to increase market presence. This in turn is driving the growth of the global biotechnology reagents and kits market over the forecast period.

Increasing applications of sequencing in molecular biology

• With recent advances in the molecular biology arena, a number of engineering tools and strategies were developed to cope with rising market demand, thus key market players are focusing on research and development activities for developing technologically advanced products and this is attributed to the growth of the global biotechnology reagents and kits market over the forecast period. For instance, in June 2022, PerkinElmer, Inc., a global leader committed to innovating for a healthier world, announced the launch of the research use only (RUO) BioQule NGS System – an automated benchtop solution for next-generation sequencing (NGS) library preparation of up to eight samples
• Moreover, in June 2021, Thermo Fisher Scientific Inc., the leader in serving science, introduced a new rapid PCR combo kit 2.0 with CE-IVD marking to identify active SARS-CoV-2 infection. Similar to this, Illumina created a software toolbox in April 2020 that is free to use and supports the global COVID-19 pandemic.

Global Biotechnology Reagents and Kits Market Opportunities:

• The advent of long-read sequencing has made sequencing of longer strands of DNA possible by only reading single DNA molecules, thus the key market players are engaged in launch of new products and this is expected to offer lucrative growth opportunities for players in the global biotechnology reagents and kits market. For instance, in March 2021, Oxford Nanopore Technologies introduced the Ultra-Long DNA Sequencing Kit that enabled efficient sequencing of read lengths of up to 4.2 Mb. Similarly, in May 2020, Oxford Nanopore announced the availability of the Native Barcoding Expansion (96) kit that is designed to deliver 96 barcodes for sequencing without PCR, which enables a large number of samples to run on a single flow cell. More recently, this kit is used for whole genome sequencing of COVID-19 causing virus. This product availability broadened the PCR-free sequencing capacity for minimal cost per sample.  

Global Biotechnology Reagents and Kits Market Trends:

Increasing government activities

• Increasing government activities are also fostering commercial expansion in the global biotechnology reagents and kits market over the forecast period. For instance, the Global Action in Healthcare Network (GAIHN) and the Global AR Laboratory and Response Network (Global AR Lab & Response Network) were launched by the Centres for Disease Control and Prevention (CDC) and the Centres for Disease Control and Prevention (CDC) in December 2021 to combat antimicrobial resistance (AR), infectious diseases, and other healthcare threats.
• Furthermore, researcher community is actively engaged in assessing the potential of LAMP technology through various modes. For instance, in October 2020, researchers evaluated the feasibility of using dry reagents LAMP assay for COVID-19 detection. This study found the method to be highly sensitive and specific. The same study also stated that LAMP-based COVID-19 detection could enable POC diagnosis in low-cost settings.

Global Biotechnology Reagents and Kits Market Restraints:

Challenges associated with the implementation of NGS

• The usage of sequencing technologies across various biotechnology fields is hindered due to several limitations that are associated with NGS technologies. Although NGS has paved way for clinical research, the solution for handling large data generated by NGS is still a great challenge. It is an ongoing research challenge for the compression of biological sequences in a way such that they can be easily accessible and stored. Although research is carried out for the development of the referential compression schemes to compress the data generated, the main challenges associated with it are scalability and compression rate. Handling of quality scores along with the sequence compression is another important factor to be considered. Such hurdles for the upcoming technology implementation are expected to restrain industrial growth to a certain extent. 

Risk pertaining to the usage of genetically modified food/crops

• Till date, due to their complex nature, a majority of biosystems have not been completely understood by scientists. This makes it difficult to predict the nature of an artificial organism or microorganism for food produced by a biotechnology-based experiment. This factor is expected to restrain the growth of biotechnology reagents & kits market up to a certain extent.
• On the other hand, farmers are adopting GM crops for several reasons such as increasing pesticide and herbicide resistance as well as increasing resistance against certain viruses or toxins. These modifications are mainly aimed at increasing farming profitability. Despite the huge success of GM crops, these are known to have certain potential side effects on organisms as well as the environment. The below figure demonstrates the negative impact of using GM food on the environment as well as on human health. These impacts are expected to hamper the use of GM products, thereby impeding the usage of reagents and kits in agricultural biotechnology applications.

Figure 2. Global Biotechnology Reagents and Kits Market Share (%), by Kit Type, 2023

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Global Biotechnology Reagents and Kits Market Segmentation:

• The global biotechnology reagents and kits market report is segmented into Product type, End Use, and Region.
• Based on Kit Type, the market is segmented into Purification Kits, Amplification Kits, Detection Kits, Isolation Kits, and Others. Of which, Detection Kits segment is expected to dominate the biotechnology reagents and kits market over the forecast period due to increasing launch of detection kits.
• Based on Technology, the market is segmented into LAMP Technology, PCR, Cell Culture, Sequencing, Chromatography, Electrophoresis, Flow Cytometry, and Other Technologies. Of which, PCR segment is expected to dominate the biotechnology reagents and kits market over the forecast period due to increasing prevalence of chronic and infectious diseases.
• Based on Tested Parameters, the market is segmented into DNA, RNA, Enzymes, Proteins, and Others. Of which, DNA segment is expected to dominate the biotechnology reagents and kits market over the forecast period due to increasing prevalence of chronic and infectious diseases.
• Based on Micro-organisms, the market is segmented into Bacteria, Virus, Fungi, and Parasites. Of which, Bacteria segment is expected to dominate the biotechnology reagents and kits market over the forecast period due to increasing bacterial infectious diseases.
• Based on Purpose, the market is segmented into On-site and Laboratory. Out of which, Laboratory segment is expected to dominate the market over the forecast period and this is attributed to the rise in research and development activities in the biotechnology sector.
• Based on End Use, the market is segmented into Healthcare, Food & Agriculture, Natural Resources & Environment, Industrial Processing, and Bioinformatics. Out of which, Healthcare segment is expected to dominate the market over the forecast period and this is attributed to the increased demand for the biotechnology reagents and kits in the numerous research organizations for the clinical trials and diagnostics.

Global Biotechnology Reagents and Kits Market: Key Developments

• In May 2023, QIAGEN, a provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research, announced that it makes its high-quality enzymes available as individual products, providing researchers and industrial customers worldwide with the flexibility to customize their assays and workflows. This makes QIAGEN a one-stop shop for all research needs – from dedicated enzymes and sample preparation solutions to automation and bioinformatics solutions.
• In June 2022, altona Diagnostics GmbH, a medical diagnostic company launched the RealStar Zoonotic Orthopoxvirus PCR kit a real-time RT-PCR-based reagent system for the detection of zoonotic (non-variola) Orthopoxvirus species-specific DNA including monkeypox virus DNA of the Central and West African strains.
• In March 2021, QIAGEN introduced QIAcube Connect MDx to improve sample processing in diagnostic laboratories. This is an automated & flexible platform for sample processing and is now available globally

Global Biotechnology Reagents and Kits Market: Key Companies Insights

• The global biotechnology reagents and kits market is highly competitive. During the forecast period, the rapid developments in the biotechnology industry and growing biomolecular applications, are anticipated to fuel future growth.
• Some of the key players in the global biotechnology reagents and kits market are Thermo Fisher Scientific, Inc., QIAGEN, New England Biolabs, Illumina, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Merck KGaA, Promega Corporation, Takara Bio Inc.

*Definition: In the era of quick research, discovery, and creating in both commercial and academic research, biotechnology reagents and kits play a key role. The demand for biotechnological reagents and kits is significant since several specialized studies are being carried out in healthcare-related facilities, where a lot of work is done around genes, proteins, DNA, enzymes, peptides, antibodies, and cell lines.