The Global Market for Laboratory Reagents is Projected to Reach US$23.4 Billion by 2022

Growth in Drug Discovery & Disease Research Drives the Global Laboratory Reagents Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Laboratory Reagents market. The global market for Laboratory Reagents is projected to reach US$23.4 billion by 2022, driven by growing opportunities in pharmaceutical research, primarily in drug discovery and oncology research, medical diagnostics, translational medicine, agriculture and forensics.

Laboratory reagents are the specially made formulations used in clinical, healthcare, pharmaceutical, bioscience and biotechnology laboratories in procedures involving molecular biology, cell biology, immunology, pharmacology, protein chemistry, biochemistry and biotechnology research applications.  These reagents include basic compounds for simple testing of an analyte to highly complex solutions such as multiplex assay reagents that analyze multiple analytes in a single test cycle. Significant expansion in application of biosciences and biotechnology in the spheres of pharmaceuticals and healthcare over the past two decades, along with technology advancements in laboratory equipment are creating parallel opportunities for laboratory reagents. Simultaneously, the ongoing large-scale research on antibacterial, antiviral and antifungal diseases and their treatments along with rising emphasis on genetic therapeutics and prevalence of geriatric diseases are expanding market prospects.

High growth areas in the life sciences sector include disease research and disease discovery supported by expanding research and breakthroughs in areas such as molecular biology and next generation sequencing. Growth in the academic sector is expected to come from ongoing shift to translational research. Various analytical techniques including chromatography, electrophoresis, flow cytometry and mass spectrometry are being widely used in areas including clinical analysis, medicine, bioanalysis and forensics for processes involving separation, identification, and quantification of matter, thus generating significant opportunities for laboratory reagents. Growth in Next Generation Sequencing (NSG) technology continues to drive the demand for highly pure reagents that facilitate precise and accurate processing of DNA/RNA samples to develop a library for various sequencing platforms.

As stated by the new market research report on Laboratory Reagents, the United States represents the largest market worldwide. Asia-Pacific constitutes the fastest growing market, with a CAGR of 7.3% over the analysis period, led by factors such as growing healthcare and research expenditure, increased demand for medical devices, and move towards laboratory automation.

Major players covered in the report include A.G. Scientific Inc., Abbott Diagnostics, Agilent Technologies Inc., BD Biosciences, Beckman Coulter Inc., bioMérieux, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Gallus Immunotech Inc., GE Healthcare, Lonza Biologics Ltd., Merck KGaA, Meridian Life Science Inc., PerkinElmer Inc., Promega Corporation, Qiagen N.V., R&D Systems, SDIX, LLC, Shimadzu Corporation, Takara Bio Inc., Thermo Fisher Scientific Inc., Wako Pure Chemical Industries Ltd. and Waters Corp. among others.

The research report titled “Laboratory Reagents : A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value and volume terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, Latin America and Rest of World. The report also analyzes the sales of Laboratory Reagents by Application Area – Molecular Biology (Monoclonal & Polyclonal Antibodies; Gene Expression, Vectors, Cloning & Sequencing; Gene Synthesis; PCR Reagents; Enzymes; and Others), Biochemistry (IVD), Cytokine & Chemokine Testing, Cell/Tissue Culture, Carbohydrate Analysis, Immunohistochemistry, and Environmental Testing (Pesticide Residues and Others).

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