The Biochemical Reagents Market is expected to reach $39.61 billion by 2031 at a CAGR of 6.4% from 2024 to 2031. Biochemical reagents are employed to investigate compounds and elements, facilitating controlled chemical reactions. It encompasses various products, such as stains, peptides, histology products, proteins, carbohydrates, lipids, and more. When selecting biochemical reagents for an experiment, it is crucial to consider factors like batch-to-batch consistency, performance, and biophysical or biochemical properties to ensure reliable outcomes.
The growth of this market can be attributed to various factors, such as the growing demand for biochemical reagents in the pharmaceutical industry, the rising prevalence of chronic diseases, the continuous expansion of the pharmaceutical and biotechnology sector, the increasing utilization of biochemical reagents among forensic and agriculture companies, and the rising number of diagnostic and pathology laboratories. However, concerns about reagent cross-contamination restrain the market’s growth.
Furthermore, advancements in biochemistry techniques and a rising demand for biochemical reagents for diagnostics are expected to offer market growth opportunities. However, the short shelf life of biochemical reagents is a major challenge to the market’s growth.
The global pharmaceutical industry is experiencing rapid growth. This growth is attributed to various factors, including patent expirations, the introduction of new drugs, and improved accessibility to medicines in remote areas. For instance, in 2021, Pharmaceutical Research and Manufacturers of America (PhRMA) member companies invested USD 102.3 billion in research and development (Source: 2022 PhRMA member annual survey). Biochemical reagents play a crucial role in the pharmaceutical sector, serving both quantitative and qualitative purposes for determining pharmaceutical preparations. Furthermore, in drug discovery, these reagents are instrumental in studying elements, compounds, and reactions controlled by biomolecules within living organisms, contributing to the development of novel therapies.
In the biotechnology industry, biochemical reagents find extensive application in PCR, DNA cloning, sequencing, mutagenesis, labeling, and various other processes. Furthermore, these reagents play a crucial role in identifying specific bacterial or viral strains that could be potential candidates for the development of new vaccines and diagnostic reagents. The rising focus on research and development to innovate new therapies is contributing to a growing demand for biochemical reagents from both the pharmaceutical and biotechnology industries.
Furthermore, there is a significant rise in funding and investment within the pharmaceutical and biotechnology industries. For instance, in 2022, the investments and funding by venture capitalists in biotech and pharma companies in the U.S. increased to USD 30.7 billion from USD 18.7 billion in 2019 (Source: National Venture Capital Association). This increase in funding and investments supports the growth of the pharmaceutical industry, consequently driving the adoption of biochemical reagents within pharmaceutical and biotechnology laboratories.
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The food & beverage industry plays a crucial role in the distribution, production, retailing, and marketing of foods consumed by millions globally. This industry has experienced exponential growth. For instance, the European food & beverage sector generated an annual turnover of USD 1.15 trillion (EUR 1.1 trillion) and USD 242 billion (EUR 230 billion) value added in 2022, making it one of the largest manufacturing industries in Europe (Source: Eurostat).
In the food industry, biochemical reagents play a crucial role in both the production process and the quality control testing of food products. Gas chromatography (GC) analysis is employed for flavor and fragrance detection, as well as for determining contaminants such as pesticide residues, thereby driving the demand for chromatography reagents in the food & beverage industry. Furthermore, biochemical reagents, often in conjunction with kit systems or strips, are utilized for the identification and confirmation of microorganisms in food products. This widespread application of biochemical reagents in the food & beverage industry drives the growth of the biochemical reagents market.
Based on type, the biochemical reagents market is segmented into PCR reagents, chromatography reagents, cell & tissue culture reagents, flow cytometry reagents, electrophoresis reagents, immunoassay reagents, and other reagents. In 2024, the chromatography reagents segment is expected to account for the largest share of the biochemical reagents market.
The high reliance on chromatography across various sectors, including pharmaceuticals, forensics, food sciences, and environmental monitoring, contributes to the large market share of this segment. Pharmaceutical & biotechnology companies, food & beverage companies, and environmental monitoring laboratories extensively utilize chromatography.
The rising concerns about air and water pollution have heightened the need to identify contaminants in samples, leading environmental laboratories to increasingly rely on chromatographic methods. This technique facilitates the detection of trace amounts of substances like polychlorinated biphenyls (PCBs) in wastewater, waste oils, and pesticides, thereby amplifying the demand for chromatography reagents.
Based on end user, the global biochemical reagents market is segmented into pharmaceutical & biotechnology companies, CROs & CDMOs, hospitals, diagnostic laboratories, food & beverage companies, academic & research institutes, and other end users. In 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market. The large market share of this segment is attributed to significant investments in research and development (R&D) activities and infrastructure development by pharmaceutical & biotechnology companies. The funding for research laboratories is increasing due to the rising demand for new drugs and therapies, which is driving the demand for biochemical reagents. For instance, global pharmaceutical R&D expenditure is expected to reach USD 213 billion in 2026 from USD 179 billion in 2020 (Source: International Federation of Pharmaceutical Manufacturers & Associations (IFPMA)).
In 2024, North America is expected to account for the largest share of the biochemical reagents market. North America's significant market share is attributed to several factors, including substantial R&D investments by pharmaceutical and biotechnology companies for drug and biomarker development, a growing prevalence of chronic diseases, increased healthcare expenditure, the presence of key market players in the region, and favorable government initiatives supporting research and development. The surge in R&D spending by pharmaceutical companies is anticipated to drive the demand for biochemical reagents, which are crucial for qualitative and quantitative testing in the pharmaceutical sector. According to the U.S. Congressional Budget Office, U.S. pharmaceutical R&D expenditure witnessed an increase from $91.1 billion in 2020 to $102.3 billion in 2021.
The report offers a competitive landscape based on an extensive assessment of the product offerings and geographic presence of leading market players and the key growth strategies adopted by them over the past few years. The key players operating in the global biochemical reagents market are Waters Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Merck KGaA (U.S.), Siemens Healthineers AG (Germany), QIAGEN N.V. (Germany), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), and Abbot Laboratories (U.S.).
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Particulars |
Details |
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Number of Pages |
~200 |
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Format |
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Forecast Period |
2024-2031 |
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Base Year |
2023 |
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CAGR |
6.4% |
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Estimated Market Size (Value) |
$39.61 billion by 2031 |
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Segments Covered |
By Type
By End User
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Countries Covered |
North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, RoE), Asia-Pacific (China, Japan, India, RoAPAC), Latin America (Brazil, Mexico, RoLATAM), and Middle East & Africa |
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Key Companies |
Waters Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Merck KGaA (U.S.), Siemens Healthineers AG (Germany), QIAGEN N.V. (Germany), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), and Abbot Laboratories (U.S.). |
The global biochemical reagents market covers the study of different types and end users of biochemical reagents. This report involves the analysis of various segments of biochemical reagents at the regional and country levels.
The global biochemical reagents market is projected to reach $39.61 billion by 2031 at a CAGR of 6.4% during the forecast period.
In 2024, the chromatography reagents segment is expected to account for the largest share of the biochemical reagents market. The high reliance on chromatography for various applications across various sectors, such as pharmaceuticals, forensics, food sciences, and environmental monitoring, contributes to the large market share of this segment.
The growth of this market can be attributed to various factors, such as the growing demand for biochemical reagents in the pharmaceutical industry, the rising prevalence of chronic diseases, the continuous expansion of the pharmaceutical and biotechnology sector, the increasing utilization of biochemical reagents among forensic and agriculture companies, and the rising number of diagnostic and pathology laboratories.
Furthermore, advancements in biochemistry techniques and a rising demand for biochemical reagents for diagnostics are expected to offer market growth opportunities.
The key players operating in the global biochemical reagents market are Waters Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Merck KGaA (U.S.), Siemens Healthineers AG (Germany), QIAGEN N.V. (Germany), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), and Abbot Laboratories (U.S.).
The emerging countries in Asia-Pacific are projected to offer significant growth opportunities for the vendors in this market due to the advancing healthcare infrastructure, increasing research laboratories, and rising research funding in the healthcare and pharmaceutical industry is driving the market.
This report provides pre & post COVID-19 market estimates.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecasting
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Drivers
4.2.1. Increasing Demand for Biochemical Reagents from the Pharmaceutical Industry
4.2.2. Increasing Prevalence of Chronic and Infectious Diseases
4.2.3. Expansion of the Pharmaceutical & Biotechnology Sector
4.2.4. Increasing Utilization of Biochemical Reagents among Forensic and Agriculture Companies
4.3. Restraint
4.3.1. Concerns About Reagent Cross-Contamination
4.4. Opportunities
4.4.1. Advancements in Biochemistry Techniques
4.4.2 Increasing Demand for Biochemical Reagents in Diagnostics
4.5. Challenges
4.5.1. Short Shelf Life of Biochemical Reagents.
4.6. Factor Analysis
4.7. Trends
4.8. Regulatory Analysis
4.9. Pricing Analysis
4.10. Porter’s 5 Force Analysis
5. Biochemical Reagents Market Assessment—by Type
5.1. Overview
5.2. PCR Reagents
5.3. Chromatography Reagents
5.4. Cell & Tissue Culture Reagents
5.5. Flow Cytometry Reagents
5.6. Electrophoresis Reagents
5.7. Immunoassay Reagents
5.8. Other Reagents
6. Biochemical Reagents Market Assessment—by End User
6.1. Overview
6.2. Pharmaceutical & Biotechnology Companies
6.3. CROs & CDMOs
6.4. Hospitals
6.5. Diagnostic Laboratories
6.6. Food & Beverage Companies
6.7. Academic & Research Institutes
6.8. Other End Users
7. Biochemical Reagents Market Assessment–by Geography
7.1. Overview
7.2. North America
7.2.1. U.S.
7.2.2. Canada
7.3. Europe
7.3.1. Germany
7.3.2. France
7.3.3. U.K.
7.3.4. Italy
7.3.5. Spain
7.3.6. Rest of Europe (RoE)
7.4. Asia-Pacific
7.4.1. Japan
7.4.2. China
7.4.3. India
7.4.4. Rest of Asia-Pacific (RoAPAC)
7.5. Latin America
7.5.1. Brazil
7.5.2. Mexico
7.5.3. Rest of Latin America (RoLATAM)
7.6. Middle East and Africa
8. Competition Analysis
8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
8.4.1. Industry Leaders
8.4.2. Market Differentiators
8.4.3. Vanguards
8.4.4. Emerging Companies
8.5. Market Share Analysis/Market Ranking, by Key Players (2022)
9. Company Profiles (Company Overview, Financial Snapshot, Product Portfolio, and Strategic Developments)
9.1. Waters Corporation
9.2. Thermo Fisher Scientific Inc.
9.3. Bio-Rad Laboratories, Inc.
9.4. Agilent Technologies, Inc.
9.5. F. Hoffmann-La Roche AG
9.6. Merck KGaA
9.7. Siemens Healthineers AG
9.8. QIAGEN N.V.
9.9. Becton, Dickinson and Company
9.10. Johnson & Johnson
9.11. Abbott Laboratories
(Note: SWOT Analysis Will be Provided for the Top 5 companies)
10. Appendix
10.1. Available Customization
10.2. Related Reports
List of Tables
Table 1 Global Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 2 Global PCR Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 3 Global Chromatography Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 4 Global Cell & Tissue Culture Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Global Flow Cytometry Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 6 Global Electrophoresis Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Global Immunoassay Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Global Other Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 9 Global Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 10 Global Biochemical Reagents Market for Pharmaceutical & Biotechnology Companies, by Country/Region, 2022–2031 (USD Million)
Table 11 Global Biochemical Reagents Market for CROs & CDMOs, by Country/Region, 2022–2031 (USD Million)
Table 12 Global Biochemical Reagents Market for Hospitals, by Country/Region, 2022–2031 (USD Million)
Table 13 Global Biochemical Reagents Market for Diagnostic Laboratories, by Country/Region, 2022–2031 (USD Million)
Table 14 Global Biochemical Reagents Market for Food & Beverage Companies, by Country/Region, 2022–2031 (USD Million)
Table 15 Global Biochemical Reagents Market for Academic & Research Institutes, by Country/Region, 2022–2031 (USD Million)
Table 16 Global Biochemical Reagents Market for Other End Users, by Country/Region, 2022–2031 (USD Million)
Table 17 Global Biochemical Reagents Market, by Region, 2022–2031 (USD Million)
Table 18 North America: Biochemical Reagents Market, by Country, 2022–2031 (USD Million)
Table 19 North America: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 20 North America: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 21 U.S.: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 22 U.S.: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 23 Canada: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 24 Canada: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 25 Europe: Biochemical Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 26 Europe: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 27 Europe: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 28 Germany: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 29 Germany: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 30 France: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 31 France: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 32 U.K.: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 33 U.K.: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 34 Italy: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 35 Italy: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 36 Spain: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 37 Spain: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 38 Rest of Europe: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 39 Rest of Europe: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 40 Asia-Pacific: Biochemical Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 41 Asia-Pacific: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 42 Asia-Pacific: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 43 China: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 44 China: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 45 Japan: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 46 Japan: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 47 India: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 48 India: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 49 Rest of Asia-Pacific: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 50 Rest of Asia-Pacific: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 51 Latin America: Biochemical Reagents Market, by Country/Region, 2022–2031 (USD Million)
Table 52 Latin America: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 53 Latin America: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 54 Brazil: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 55 Brazil: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 56 Mexico: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 57 Mexico: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 58 Rest of Latin America: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 59 Rest of Latin America: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 60 Middle East and Africa: Biochemical Reagents Market, by Type, 2022–2031 (USD Million)
Table 61 Middle East and Africa: Biochemical Reagents Market, by End User, 2022–2031 (USD Million)
Table 62 Recent Developments, by Company, 2020–2024
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6 Market Size Estimation
Figure 7 Global Biochemical Reagents Market, by Type, 2024 VS. 2031 (USD Million)
Figure 8 Global Biochemical Reagents Market, by End User, 2024 VS. 2031 (USD Million)
Figure 9 Biochemical Reagents Market, by Geography
Figure 10 Global Biochemical Reagents Market, by Type, 2024 VS. 2031 (USD Million)
Figure 11 Global Biochemical Reagents Market, by End User, 2024 VS. 2031 (USD Million)
Figure 12 Global Biochemical Reagents Market, by Geography, 2024 VS. 2031 (USD Million)
Figure 13 North America: Biochemical Reagents Market Snapshot
Figure 14 Europe: Biochemical Reagents Market Snapshot
Figure 15 Asia-Pacific: Biochemical Reagents Market Snapshot
Figure 16 Latin America: Biochemical Reagents Market Snapshot
Figure 17 Key Growth Strategies Adopted by Leading Players, 2020–2024
Figure 18 Global Biochemical Reagents Market: Competitive Dashboard
Figure 19 Global Biochemical Reagents Market: Competitive Benchmarking, by Type
Figure 20 Global Biochemical Reagents Market: Market Share Analysis/Market Ranking (2023)
Figure 21 Waters Corporation: Financial Snapshot (2022)
Figure 22 Thermo Fisher Scientific Inc.: Financial Snapshot (2022)
Figure 23 Bio-Rad Laboratories, Inc.: Financial Snapshot (2022)
Figure 24 Agilent Technologies, Inc.: Financial Snapshot (2023)
Figure 25 F. Hoffmann-La Roche AG: Financial Snapshot (2022)
Figure 26 Merck KGaA: Financial Snapshot (2022)
Figure 27 Siemens Healthineers AG: Financial Snapshot (2022)
Figure 28 QIAGEN N.V.: Financial Snapshot (2022)
Figure 29 Becton, Dickinson and Company: Financial Snapshot (2022)
Figure 30 Johnson & Johnson: Financial Snapshot (2022)
Figure 31 Abbott Laboratories: Financial Snapshot (2022)
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: Aug-2023
Published Date: May-2023
Published Date: Jul-2022
