Chemical reagent is a substance or a compound that is used in a chemical reaction to detect, examine, measure or produce other chemical substance. The global market for laboratory chemical reagents is expected to witness significant growth due to increased usage of chemical reagents in the large scale commercial applications and basic research activities. Additionally, continuous technological advancements in the field of bio-therapeutics, recombinant DNA and cell culture have enhanced the scientific ability to identify and produce human therapeutics for ages. Hence, this has also contributed in robust growth of the market.
The global market for laboratory chemical reagents can be segmented on the basis of products segments and end users. The product segments category can be subdivided into molecular biology (gene expression, gene synthesis, vectors, monoclonal & polycolonal antibodies, extraction kits, enzymes, cloning & sequencing, PCR reagents, and others), cytokine and chemokine testing, carbohydrate analysis, immunochemistry, cell/tissue culture, environmental testing (pesticide residue & others) and biochemistry. Of these microbiology currently holds the largest share of the market whereas, cytokine and chemokine testing is expected to emerge as the fastest growing segment in near future. Biotechnology, academic segment, non-academic segment and corporate segment, are some of the end users of laboratory chemical reagents. Field of molecular biology witnessed plethora of new opportunities with the conclusion of human genome project which has expanded the usage of polymerase chain reaction. At present, PCR technologies are being used in wide range of applications such as paternity testing, forensic finger printing, gene expression and DNA sequencing. The market for PCR is growing on account of rising awareness and increased acceptance of real-time PCR. The reagents used in real time PCR offer instant and quality results as compared to conventional PCR which is consequently expected to increase the sales of PCR reagents.
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Furthermore, the market for laboratory chemical reagents would be fuelled by increasing launch of monoclonal antibody therapeutics products and growth in cell culture manufacturing. Monoclonal antibodies are being used for effective treatment for inflammatory disease, cardiovascular disease and cancer treatment. Physicians are turning towards prescription of monoclonal antibodies due to effectiveness of the antibiotics. Hence, increasing demand of monoclonal antibodies would also benefit the market for laboratory chemical reagents.
Geographically, North America is witnessed to be the largest market share holder of the global laboratory chemical reagents market. The dominance of this region is estimated on the basis of innovations in the nucleic acid testing procedures, technological advancements and improvements in cell and tissue culture technology. Additionally, advancements in molecular pathology assays is another major factor cited to drive the growth of this market. Asia-Pacific region is anticipated to emerge as the fastest growing region due to establishment of new academic centers across the region especially in the areas of chemical and biological sciences. Similarly, entry of new pharmaceutical companies in the region will increase investment in more research and development activities consequently enabling more test analysis. Similarly, increasing clinical research outsourcing activities in the Asian region will accentuate the demand for chemical lab for measuring drug quality or testing the quality of products in the chemical industry, food industry or biological areas of research and development.
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BD Biosciences, bioMérieux, Beckman Coulter Inc., CALTAG Laboratories, GE Healthcare, EMD Chemicals Inc., Life Technologies Corporation, Meridian Life Science Inc., Lonza Biologics Ltd., PerkinElmer Inc., QIAGEN, Promega Corporation, Sigma-Aldrich Corp., Shimadzu Biotech, Takara Bio Inc., Wako Pure Chemical Industries and others are some of the major players operating in laboratory chemical reagents market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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