Biochemical Reagents Market - Global Industry Analysis 2024.
Biochemical reagents, in combination with imaging and detection technologies, are used extensively in medicine, biotechnology, and pharmaceutical research in diagnosis, treatment, and monitoring of diseases and disorders. Factors driving the biochemical reagents market include high prevalence of infectious diseases, cardiovascular diseases, neurological diseases, cancer; rising awareness among patients; growing research and development activities; increasing demand for biochemical reagents for antibiotics, biological buffers, biological detergents, cell-viability kits and reagents, and mycoplasma kits and reagents. According to the World Health Organization (WHO), cardiovascular diseases is one of the leading causes of death globally. In 2016, out of 16 million deaths of people aged below 70 years were caused by non-communicable diseases, while 37% were caused by cardiovascular diseases. According to WHO, in 2015, the number of new cancer cases is expected to rise by about 70% in the next two decades. Development in technologies such as PCR (polymerase chain reaction) and DNA sequencing and biochips, which rely on sensitive biochemical reagents is likely to fuel the global biochemical reagents market. Cost of reagents and inexpensive hybrid products which lack quality as well as sensitivity toward storage conditions are factors expected to hamper the growth of the global biochemical reagents market.
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The biochemical reagents market has been segmented by product type, by application type, by end-user, and by geography. In terms of product type, the biochemical reagents market has been classified into PCR reagent kits, cell & tissue culture reagents, flow cytometry reagent kits, electrophoresis reagents, chromatography reagents, and others. The cell & tissue culture reagents segment has been further sub-segmented into antibiotics, biological buffers, biological detergents, cell-viability kits, mycoplasma kits and reagents, and cell dissociation enzymes. The chromatography reagents segment has also been further sub-segmented into ion chromatography reagents, LC-MS solvents & reagents, HPLC & UHPLC solvents, GC solvents, and others.
Based on application, the biochemical reagents market has been segmented into disease diagnosis, drug discovery & development, and forensic studies. Based on end-user, the market has been segmented into hospitals, contract research organizations (CROs), research and academic institutions, clinical laboratories, and forensic laboratories.
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Geographically, the global biochemical reagents market has been divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global biochemical reagents market, due to sophisticated infrastructure, awareness among patients, and high per capita health care expenditure in the region. Early-phase diagnosis and treatment of diseases is a factor driving the medical biotechnology industry in North America. This, in turn, is expected to propel the biochemical reagents market in the region. Europe follows North America in the market for biochemical reagents. There exist favorable government policies regarding health care infrastructure and awareness among population in the region. The market in Asia Pacific is expected to expand at a higher rate during the forecast period, due to rising population, changing lifestyles, rising awareness among patients, and increasing per capita expenditure in the region. In addition, economic growth is supporting the improvement in health care infrastructure in developing countries in the region such as India and China. This is another factor likely to augment the biochemical reagents market in Asia Pacific during the forecast period.
Major players operating in the global biochemical reagents market include Beckman Coulter Inc., Johnson & Johnson, Bayer Healthcare AG, Bracco Imaging, Siemens Healthcare, Cardinal Health, Piramal Healthcare Ltd., Thermo Fisher Scientific, Bioresearch Technologies, and Nanospehere Inc.
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