The Global Market for Laboratory Reagents is Projected to Reach US$23.4 Billion by 2022
Growing Life Sciences
R&D and Medical Diagnostic Procedures to Drive 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 volumes
of medical diagnostic and lifesciences R&D procedures, amid increased
prevalence of lifestyle and infectious diseases and rising focus on new drugs
and treatments.
Laboratory
reagents are the specially formulated solutions intended for use in clinical,
healthcare, pharmaceutical, bioscience and biotechnology laboratories. Research
and academic institutions, clinics and hospitals, pharmaceutical companies, and
forensic departments rely on reagents to carry out various procedures on a
specimen to detect, measure, examine and analyze its features and characteristics.
Some of the widely used laboratory reagents include antibody reagents, gene
analysis reagents, IVD reagents, immunoassay reagents, cell culture reagents,
and environmental testing reagents among others.
Dramatic
expansion in applications of biosciences and biotechnology within the spheres
of life sciences and healthcare, along with technology advancements in
laboratory equipment has created massive opportunities for laboratory reagents.
Increased spending in healthcare and research verticals, growing awareness
about early diagnosis and medical treatment, and steep expansion of healthcare
and life sciences sectors in developing regions are other major factors steering
the demand for laboratory reagents. Full-scale
research programs for antibacterial, antiviral and antifungal diseases, rising
emphasis on genetic therapeutics, and growing prevalence of geriatric diseases
are favoring robust growth in laboratory reagents market.
Acceptance
of analytical techniques such as chromatography, electrophoresis, flow
cytometry and mass spectrometry in clinical analysis, bioanalysis, medicine,
and forensics applications is expected to remain firm in the coming years,
while providing impetus to market expansion.
Ongoing upward momentum in Next Generation Sequencing
(NSG)
technology is another major factor poised to steer the demand for laboratory
reagents. With steady increase in the number of laboratory processes in
pharmaceuticals, biotechnology and bioscience verticals, reagents market is likely
to sustain growth momentum in the approaching years.
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 in the market include A.G. Scientific Inc., Abbott Diagnostics, Agilent
Technologies Inc., BD Biosciences, Beckman Coulter Inc., bioMérieux, Bio-Rad
Laboratories Inc., Exalpha Biologicals Inc., F. Hoffmann-La Roche Ltd.,
FUJIFILM Wako Pure Chemical Corporation, 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., 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).
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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