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Biochemical Reagents Market - By Product Type (PCR, Cell & Tissue Culture, Electrophoresis, & Chromatography Reagents), Application (Genomics, Proteomics, Diagnostics, Drug Discovery & Development), End-use – Global Forecast (2024 – 2032)


Published on: 2024-07-10 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Biochemical Reagents Market - By Product Type (PCR, Cell & Tissue Culture, Electrophoresis, & Chromatography Reagents), Application (Genomics, Proteomics, Diagnostics, Drug Discovery & Development), End-use – Global Forecast (2024 – 2032)

Biochemical Reagents Market Size

Biochemical reagents market size was valued at around USD 24.3 billion in 2023 and is estimated to grow at 8.5% CAGR from 2024 to 2032. Biochemical reagents are substances utilized in biochemical experiments and analyses to facilitate the detection, measurement, or manipulation of specific biochemical components or processes. These reagents often interact with biological molecules such as proteins, nucleic acids, carbohydrates, and lipids, enabling researchers to study their properties, functions, and interactions within living organisms.

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The increasing R&D activities in life sciences and biotechnology is a significant driving factors for the market. For instance, in 2021, Hangzhou Sciwind Biosciences Co. Ltd. (Sciwind), a rapidly advancing clinical-stage biopharmaceutical firm, secured USD 37 million in Series B funding from LYFE Capital. This investment aims to expedite the research and development of groundbreaking biologics targeting chronic metabolic and immunological disorders.
 

Biochemical Reagents Market Report Attributes
Report Attribute Details
Base Year 2023
Biochemical Reagents Market Size in 2023 USD 24.3 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 8.5%
2032 Value Projection USD 50.4 Billion
Historical Data for 2021 - 2023
No. of Pages 170
Tables, Charts & Figures 229
Segments covered Product Type, Application, End-use, and Region
Growth Drivers
  • Increasing R&D activities in life sciences and biotechnology
  • Rising incidence of chronic and infectious diseases
  • Technological advancements in biochemical research
Pitfalls & Challenges
  • High cost of biochemical reagents
  • Stringent regulatory policies and quality control standards

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Furthermore, rising incidence of chronic and infectious diseases, expanding of the biopharmaceutical industry, increasing drug discovery services (market size is estimated to account for USD 61.6 billion by the end of year 2032), advancements in drug screening market, government initiatives and funding, and increasing education & awareness, are the promoting factors fostering the growth of the market.

Biochemical Reagents Market Trends

The rising incidence of chronic and infectious diseases growing awareness of infection control is a significant driver for market. These reagents play a vital role in various diagnostic tests, including immunoassay, molecular diagnostic, and microbiological assay, and guide treatment decisions.

  • The urgent need for effective treatments and vaccines for chronic and infectious diseases drives research and development efforts in the pharmaceutical and biotechnology industries. Biochemical reagents are essential tools in drug discovery, helping researchers identify potential drug targets, screen drug candidates, and assess drug efficacy, contributing to the development of new therapeutics.
  • Increasing cases of infectious diseases is a significant driver. For instance, according to the Centers for Disease Control and Prevention, in 2023, the tuberculosis cases increased from 8,320 in 2022 to 9,615 in 2023, an increase of 1,295 cases. The rate also increased from 2.5 per 100,000 persons in 2022 to 2.9 in 2023.
  • Heightened awareness of infection control measures, particularly in healthcare settings, drives the demand for biochemical reagents used in disinfection, sterilization, and environmental monitoring. These reagents enable healthcare facilities to maintain clean and safe environments, prevent healthcare-associated infections, and protect patients and staff from infectious pathogens.
  • With the growing emphasis on early disease detection and timely intervention, there is a rising demand for point-of-care testing technologies that provide rapid and accurate diagnostic results at the bedside or in community settings. Biochemical reagents are integral components of point-of-care testing devices, thereby increasing the growth of the market.

Biochemical Reagents Market Analysis

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Based on product type, the market is divided into polymerase chain reaction reagent kits, cell and tissue culture reagents, electrophoresis reagents, chromatography reagents, and other product types. The chromatography reagents segment is estimated to account for USD 15.6 billion by 2032.

  • Chromatography techniques including liquid chromatography (LC), gas chromatography (GC), and thin-layer chromatography (TLC), are versatile analytical tools used in various fields such as pharmaceuticals, biotechnology, food and beverage, environmental analysis, and clinical diagnostics. Thus, chromatography reagents are essential consumables in these applications, driving their widespread adoption and market demand.
  • It plays a crucial role in drug discovery and development processes including drug screening, pharmacokinetics, and purity testing. Chromatography reagents are used in the purification and analysis of drug candidates, ensuring their quality, efficacy, and safety throughout the development pipeline, from early-stage research to clinical trials and manufacturing.
  • Further, chromatography reagents, including columns, detectors, and mobile phases, support the development and optimization of chromatographic methods tailored to specific applications and analytes.
  • Ongoing advancements in chromatography technologies, such as high-performance liquid chromatography (HPLC), ultra-high-performance liquid chromatography (UHPLC), and mass spectrometry (MS) detection, drive the demand for chromatography reagents that complement these advanced systems. Innovative chromatography reagents offer improved performance, sensitivity, and efficiency, meeting the evolving needs of analytical laboratories.

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Based on application, the biochemical reagents market is classified into drug discovery and development, genomics, proteomics, diagnostics, biotechnology research, and other applications. The diagnostics segment accounted for USD 7.9 billion in 2023.

  • Biochemical reagents are critical components in diagnostic assays used to detect and quantify biomarkers associated with various diseases, including infectious diseases, cancer, cardiovascular disorders, autoimmune diseases, and metabolic disorders.
  • The rising cases of cancer is a significant driver for the adoption of diagnostics. For instance, according to the World Health Organization (WHO), over 35 million new cancer cases are predicted in 2050, a 77% increase from the 20 million cases in 2022.
  • Further, the expansion of point-of-care testing (POCT) in healthcare settings, including hospitals, clinics, and community pharmacies, drives the demand for biochemical reagents used in rapid diagnostic tests for infectious diseases, cardiac markers, glucose monitoring, and pregnancy testing.
  • Biochemical reagents are integral to imaging modalities such as positron emission tomography (PET), single-photon emission computed tomography (SPECT), MRI systems, and computed tomography (CT), which are used for diagnostic imaging and molecular imaging of diseases.
  • Thus, such aforementioned factors are expected to augment the segmental growth.

Based on end-use, the biochemical reagents market is segmented into biotechnology & pharmaceutical companies, academic and research institutes, hospitals and diagnostic laboratories, and contract research organizations (CROs) and contract development and manufacturing organizations (CDMOs). The biotechnology & pharmaceutical companies segment held a market share of 37.4% in the year 2023.

  • Hospitals conduct a large volume and variety of diagnostic tests to support patient care across multiple specialties, including pathology, microbiology, hematology, clinical chemistry, and immunology. Biochemical reagents are essential components of these tests, facilitating the accurate detection, quantification, and analysis of biomarkers and analytes in patient samples.
  • These settings provide comprehensive healthcare services, including inpatient care, outpatient services, emergency care, and specialized treatments. Biochemical reagents are used in various diagnostic and therapeutic applications, ranging from routine blood tests and infectious disease screening to complex molecular diagnostics.
  • Hospitals often have specialized departments and centers, such as clinical laboratories, pathology departments, microbiology labs, and oncology centers, which rely heavily on biochemical reagents for diagnostic testing, disease monitoring, and treatment selection.
  • Further, these settings benefit from economies of scale and purchasing power due to their large size and procurement capabilities. They can negotiate favorable pricing and volume discounts with suppliers of biochemical reagents, ensuring cost-effective procurement and efficient utilization of resources in laboratory operations, thereby expanding the growth of the market.

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U.S. biochemical reagents market is anticipated to grow at CAGR of 8.2% during the analysis timeframe.

  • The country possesses a highly advanced healthcare infrastructure, including hospitals, research institutions, diagnostic laboratories, and biotechnology companies. This infrastructure supports extensive diagnostic testing and research activities, driving the demand for biochemical reagents used in various applications.
  • Further, U.S. is home to a robust biotechnology and pharmaceutical industry comprising leading companies engaged in drug discovery, development, and manufacturing.

Netherlands biochemical reagents market is anticipated to witness lucrative growth between 2024 – 2032.

  • The Netherlands adheres to stringent regulatory standards and quality assurance requirements for healthcare products, including biochemical reagents. Compliance with these standards ensures the safety, efficacy, and reliability of reagents, enhancing the Netherlands' reputation as a trusted supplier in the global market.

Japan biochemical reagents market is expected to grow significantly over the years.

  • Japan is at the forefront of technological advancements in healthcare and precision medicine. The country's focus on personalized healthcare approaches, genomic medicine, and biomarker discovery drives demand for biochemical reagents used in molecular diagnostics and targeted therapies.

Saudi Arabia market is anticipated to witness lucrative growth between 2024 – 2032.

  • Saudi Arabia provides universal healthcare coverage to its citizens and residents through the Ministry of Health (MOH) and other government agencies. This ensures continuous research and development in the field of biochemicals.

Biochemical Reagents Market Share

The biochemical reagents industry is highly competitive, marked by several players striving for market dominance. Providers offer comprehensive biochemical reagents with improved accuracy and diagnostics. This includes innovations such as automated workflow systems for workflow efficiency, reducing hands-on time, and reproducibility. Competition is driven by factors such as the quality and reliability of these technologies, integration capabilities with existing platforms, and compliance with regulatory standards. Strategic partnerships with companies and healthcare networks play a crucial role in market positioning.

Biochemical Reagents Market Companies

Some of the eminent market participants operating in the biochemical reagents industry include

  • Abbott Laboratories
  • Agilent Technologies Inc.
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories, Inc.
  • Merck KGaA
  • F. Hoffmann-La Roche Ltd.
  • Johnson and Johnson
  • Siemens Healthineers AG
  • Thermo Fisher Scientific Inc.
  • Waters Corporation

Biochemical Reagents Industry News

  • In December 2023, Roche entered into a definitive agreement with select parts of the LumiraDx group related to LumiraDx’s innovative Point of Care technology. This further expanded the diagnostic horizon of the company, leading to increased production of various biochemical reagents. Therefore, this strategy generated noteworthy sales for the company.
  • In April 2023, Abbott Laboratories finalized its acquisition of Cardiovascular Systems, Inc. (CSI), a medical device company renowned for its innovative atherectomy system utilized in the treatment of peripheral and coronary artery disease. This acquisition encompassed a range of diagnostics and reagents tailored for the identification and management of these diseases, effectively broadening the product portfolio and boosting sales.

The biochemical reagents market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Product Type

 

  • Polymerase chain reaction reagent kits
  • Cell and tissue culture reagents
  • Electrophoresis reagents
  • Chromatography reagents
  • Other product types

Market, By Application

  • Drug discovery and development
  • Genomics
  • Proteomics
  • Diagnostics
  • Biotechnology research
  • Other applications

Market, By End-use

  • Biotechnology & pharmaceutical companies
  • Academic and research institutes
  • Hospitals and diagnostic laboratories
  • Contract research organizations (CROs) and contract development and manufacturing organizations (CDMOs)

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East and Africa

 

Table of Content

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