Biotechnology Reagents & Kits Industry Overview
The global biotechnology reagents & kits market size was valued at USD 337.28 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.5% from 2021 to 2028.
Increasing R&D expenditure by biotechnology companies, expanding applications of molecular biology, technological advancements in the field of biotechnology, and growing demand for synthetic biology are key driving factors for the growth of this market. The development of numerous diagnostic tests for COVID-19 has further driven market growth. Novel research has suggested the use of a flow cytometry-based method for COVID-19 testing. Researchers have also used the technique to explore the types of T cells involved in COVID-19 immune responses. This has resulted in high demand for flow cytometry reagents & kits, thereby augmenting the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Biotechnology Reagents & Kits Market
With recent advancements in the molecular biology arena, several engineering tools and strategies were developed to cope with rising market demand. Expanding research base in molecular biology has driven the usage of biotechnology reagents & kits over the past few years. The field of genomic sequencing has also witnessed several technological advancements over the recent years since the inception of the first revolutionary DNA sequencing technique. In the past few years, there have been extraordinary developments in areas, including high-throughput sequencing, genome engineering, big-data analysis & storage, and gene therapy.
RT-PCR assay is the most widely used method for the detection of viral RNA in patient samples. Researchers have also developed specific assays to detect COVID-19. The Center for Disease Control (CDC) has developed a different test protocol by validation and comparison of several kits used in the extraction of nucleic acids. They also used alternative prime and probe sets to detect SARS-CoV-2 in clinical samples. Isolation of nucleic acids is an integral part of the COVID-19 testing workflow.
The huge demand for nucleic acid isolation and purification kits led to a global shortage of these kits in the initial phase of the pandemic. Leveraging this opportunity, several companies undertook various initiatives, such as the expansion of their production capabilities, distribution agreements, and new product launches, to enhance their market positions. This also accelerated the entry of new players into the market, thereby intensifying the market competition.
Browse through Grand View Research’s Biotechnology Industry Research Reports.
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Market Share Insights
- May 2021: The Defence Research and Development Organisation’slaboratory, the Defence Institute of Physiology and Allied Sciences (DIPAS), introduced an antibody-dependent kit DIPCOVAN DIPAS-VDx SARS-CoV-2 IgG antibody Microwell ELISA for sero-surveillance.
- March 2021: Roche and GenMark diagnostics entered into a merger agreement to introduce innovative technology to test a wide range of pathogens with one patient specimen. GenMark’sePlex platform provides quick and effective results.
- March 2021: Agilent technologies acquired Resolution Bioscience Inc., a liquid biopsy firm, to offer an NGS-based noninvasive liquid biopsy test platform, in turn, strengthening its genomics business.
- January 2021: New England BioLab, Inc. launched the Luna SARS-CoV-2 RT-qPCR Assay Kit for the detection of SARS-CoV-2 nucleic acid.
Key Companies profiled:
Some of the prominent players in the global biotechnology reagents & kits market include:
- Thermo Fisher Scientific
- New England Biolabs
- Illumina, Inc.
- Agilent Technologies, Inc.
- Bio-Rad Laboratories
- Hoffmann-La Roche Ltd.
- Merck KGaA
- Promega Corp.
- Takara Bio, Inc.
- LGC Ltd.
- Toyobo Co. Ltd.
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