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Biotechnology Reagents & Kits Market To Reach $1,377.2 Billion By 2030

The global biotechnology reagents & kits market size is expected to reach USD 1,377.2 billion by 2030, expanding at a CAGR of 10.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Key factors driving the market include the introduction of novel and advanced products, a rise in investments in the biotechnology sector, and increasing demand for synthetic biology.

Increasing research and development expenditure for life sciences and biotechnology research is expected to drive the market significantly in the coming years. Over the past few decades, the biotechnology sector has witnessed a paradigm shift toward new treatments & drugs, biologically controlled production processes, genetically modified foods, biologically based computing, and new materials, thereby propelling the market growth.

Advancements in molecular diagnostic techniques, such as droplet digital PCR, NGS, and genome-wide sequencing with respect to accuracy, reproducibility, and timeline, have influenced the adoption of biotechnology reagents & kits in the market. The advent of long-read sequencing has made sequencing of longer strands of DNA possible by only reading single DNA molecules, in turn, driving the market growth.

Cell culture technology accounted for the largest revenue share in 2022 owing to the vast product portfolio offered by the key entities and expanding cell biology research. RNA-Seq using NGS technology has emerged as the method of choice for research communities investigating the transcriptome. The virus segment dominated the market in 2020 with increased adoption in cell & gene therapies and vaccinology. The ongoing pandemic has positively impacted the market growth as focused efforts are being conducted for vaccine development using viral vectors.

North America captured the maximum revenue share in 2022 with the U.S. being the largest contributor. The presence of key players coupled with active involvement in research activity has contributed to the maximum share of the region. Asia Pacific is projected to register the fastest CAGR from 2023 to 2030 owing to the improvements in health care infrastructure, entry of large biotechnological organizations, and increasing R&D activities. The key players in the global market are engaged in collaboration with biopharma developers to support their product development process.

Biotechnology Reagents & Kits Market Report Highlights

The detection kits segment accounted for the maximum revenue share in 2022 owing to the high demand due to the pandemic
Amplification kits are anticipated to register a considerable growth rate due to the expanding applications of LAMP technology and PCR
The development of Point-of-Care (POC) testing has primarily driven the market for on-site testing
On-site DNA testing administers a broad array of DNA paternity and family relationship, including forensic DNA testing services and prenatal testing options
Currently, the healthcare segment is the key end-user of the market with the highest penetration of reagents & kits, in terms of usage, in this segment

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Biotechnology Reagents & Kits Market Segmentation

Grand View Research has segmented the global biotechnology reagents & kits market based on kit type, technology, tested parameters, purpose, end-use, and region:

Biotechnology Reagents & Kits Kit Type Outlook (Revenue, USD Billion, 2018 - 2030)