Pune, India -- (SBWIRE) -- 01/20/2016 -- The report “Life Sciences & Analytical Reagents Market - Applications, Current Trends, Opportunities & Global Forecasts (2011 – 2016)”, the global life sciences and analytical reagents market was valued at $40,308.8 million in 2011 and is expected to reach $59,319.2 million by 2016; growing at a CAGR of 8% from 2011 to 2016.
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Biotechnology (life sciences and analytical) reagents are the substances or compounds used to detect or synthesize another substance in order to provide a test reading. These reagents are used in the field of research, diagnosis, bioscience, and education.
The life science and analytical reagents market studied in this report is vast; it consists of several technologies such as PCR, cell culture, IVD, expression and transfection, chromatography, spectrometry, electrophoresis, and flow cytometry. The biotechnology reagents market, by technology, studied in this report, are segmented as life sciences reagents and analytical reagents; of which life sciences segment accounted for the largest share of 59.37% of the total market in 2011.
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The life science and analytical reagents market is driven by the increasing use of reagents in therapeutics, basic research and commercial applications. The demand for biotechnology reagents is largely dependent on the growth of the biotechnology instrumentation market. The biotechnology instrumentation market continues to witness significant growth due to an increase in the number of biotechnology firms and increase in research and development expenditure by biotechnology companies, thus augmenting the demand for biotechnology instruments. Continual product developments are being witnessed in industries such as pharmaceutical/bio-pharmaceutical, agri-biotech, and food and beverages; this is expected to facilitate market growth.
North America dominated the life science and analytical reagents market with 46.28% share in 2011. Successful completion of the first phase of the Human Genome Project, ahead of schedule, has given rise in the U.S. reagent market. Investments, government funding, and new products are driving the reagents market in the U.S. The Asian market, however, shows greater opportunities, when compared to other regions, with the highest CAGR of 11.8% from 2011 to 2016; due to increased research outsourcing activities in the life technology field.
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Major players in the global life science and analytical reagents market include Life Technologies, (U.S.), Bio-Rad (U.S.), Thermo Fisher Scientific (U.S.), Water Corporation (U.S.), Sigma-Aldrich (U.S.), Agilent Technologies Inc. (U.S.), Betcon Dickinson (U.S.), Beckman Coulter (U.S.), Roche (Switzerland), and Abbott (U.S.).
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