Increased applications, research activities boost market
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Increased applications, research activities to boost market

10:15 AM, 10th December 2019
Increased applications, research activities to boost market

Laboratory chemical reagent is a compound that is utilized in a chemical reaction to identify, examine, determine or produce other chemical substance. The chemical reagents play an essential role in the accuracy of a chemical experiment. Whereas preparing the chemistry reagents in a laboratory, correct proportion of chemicals and solvents as well as procedure is very crucial, said a report with a forecast from 2016 to 2021 based on revenue (USD Million).

The worldwide market for laboratory chemical reagent is expected to grow at a significant rate due to extensive chemical reagents applications and research activity.

Constant improvements and evolution in technologies such as bio-therapeutics, cell culture and recombinant DNA technology that facilitated the production of numerous essential therapeutic agents also fuel the demand for laboratory chemical reagents.

Furthermore, increasing demand from biotechnology industry may boost the market growth in upcoming years. Protein synthesis and DNA sequencing reagents market has increased dramatically in recent years.

Global laboratory chemical reagents market has been segmented on the basis of product, end user and region. On the basis of product, laboratory chemical reagent market is classified into molecular biology, cytokine and chemokine testing, carbohydrate analysis, immunochemistry, cell/tissue culture, environmental testing and biochemistry. Molecular biology accounted for largest share of the market in 2015. Whereas, cytokine and chemokine testing is expected to emerge as the fastest growing segment in near future.

End user segment includes biotechnology, academic segment, nonacademic segment and corporate segment. Currently, polymerase chain reaction (PCR) technologies are being used extensively in several applications such as forensic labs, gene expression and DNA sequencing. The reagents used in real time PCR testing offer quick and quality results compared to conventional PCR testing method which is consequently expected to increase the sales of PCR reagents. PCR market is rising on account of increasing acceptance and awareness for real time PCR.

Geographically, laboratory chemical reagent market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominated the laboratory chemical reagent market in 2015 owing to technological advancements and innovations in molecular biology. Asia Pacific region is estimated to emerge as the fastest growing region due to development of new academic centers across the region mainly in the biological and chemical science area. Additionally, entry of new pharmaceutical companies and increasing clinical research outsourcing activities in the Asia Pacific region can increase investment in research and development consequently enabling more laboratory test analysis.

Beckman Coulter Inc, Life Technologies Corp, Promega Corp, SAFC Biosciences Inc, EMD Chemicals Inc, Wako Pure Chemical Industries Ltd, GE Healthcare, Takara Bio Inc, Meridian Life Science Inc, Sigma-Aldrich Corp, Shimadzu Biotech and PerkinElmer Inc are some of the major players operating in laboratory chemical reagents market.

Source: Zion Market Research

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