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The global Biotechnology Reagents market is expected to grow at a CAGR of 9.5% from 2022 to 2029, from USD 77.4 billion in 2020.
Biotechnology Reagents Market Overview
The market is divided into product types such as life science reagents, analytical reagents, and others. The analytical reagents segment is expected to grow at a rapid pace during the forecasted years, owing to the widespread use of chromatography procedures and techniques for a variety of pathological and academic purposes. Other analytical reagents, such as mass spectrometry, electrophoresis, and flow cytometry, have numerous applications due to benefits such as precise and accurate results, cost-effective separations, and superior reproducibility. Meanwhile, the science reagents segment is expected to account for a significant share during the forecast period due to the increasing use of reagents in bioscience research.
Chromatography is a separation technique used primarily in drug development to validate drug precision, sensitivity, and purity. Chromatography is expected to have a strong market share of around 30% of the total market share because it is frequently used to validate analytical techniques and processes for drugs and biologics. Because chromatography methods are widely used throughout the world, demand for their reagents remains high for a wide range of pathological and academic applications. Additionally, increased support for biotechnology research is assisting in segment expansion.
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