Biotechnology Reagents Market to Grow by USD 37.87 Bn during 2020-2024 at a CAGR of 8%

Strategic Insights -

The biotechnology reagents market is expected to witness significant growth due to the increasing R&D investments by federal agencies and biotechnology firms. This growth is driven by the presence of high-throughput technologies, which are fueling the demand for biotechnology reagents. The market is segmented by technology, including chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others.

Key Takeaways:

  • The biotechnology reagents market size is expected to grow by USD 37.87 billion during 2020-2024, progressing at a CAGR of about 8% during the forecast period.
  • The increasing R&D investments by federal agencies and biotechnology firms are driving the biotechnology reagents market growth during the next few years.
  • The presence of high-throughput technologies, such as chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others, is fueling the demand for biotechnology reagents.
  • Companies like Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Co., Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., General Electric Co., Merck KGaA, PerkinElmer Inc., and Thermo Fisher Scientific Inc. are covered in the vendor landscape of the biotechnology reagents market.
  • The market's growth momentum will be driven by the increasing adoption of biotechnology reagents in various industries, including life sciences, diagnostics, and pharmaceuticals.
  • The biotechnology reagents market analysis includes technology segment and geography landscape, with a focus on North America, Europe, APAC, and ROW.

Statistics:

  • USD 37.87 billion: The biotechnology reagents market size is expected to grow at a CAGR of 8% during the forecast period.
  • 8%: The CAGR of the biotechnology reagents market during the forecast period.
  • 2020-2024: The forecast period for the biotechnology reagents market growth.
  • Chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others: The biotechnology reagents market is segmented by technology.
  • North America, Europe, APAC, and ROW: The biotechnology reagents market analysis includes geography landscape.

Sources:

  • Business Wire: "Technavio's Latest Market Research Report on the Global Biotechnology Reagents Market 2020-2024"
  • Technavio: "Biotechnology Reagents Market by Technology (Chromatography, In-vitro Diagnostics, Polymerase Chain Reaction, Cell Culture, and Others) and Geography (North America, Europe, APAC, and ROW) - Forecast and Analysis 2020-2024"