Global Biotechnology Reagents Market 2019-2023| Increasing R&D Investments to Drive Growth| Technavio
The global biotechnology reagents market research report by Technavio predicts the market to post a CAGR of close to 9% during the period 2019-2023.
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Technavio has published a new market research report on the global biotechnology reagents market from 2019-2023.
A key driver for the global biotechnology reagents market is the increasing R&D investments by federal agencies and biotechnology firms. Biotechnology companies and research organizations have been investing massive amounts on R&D activities to develop new technologies which will enhance their products. These companies are investing in proteomics, drug testing, high-throughput screening, and combinational chemistry, for the development of environment-friendly biotechnology reagents.
As per Technavio, the increasing focus on emerging economies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global biotechnology reagents market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global biotechnology reagents market: Increasing focus on emerging economies
In emerging countries such as China, India, and Brazil, there is an increase in the use of biotechnology reagents. The factors driving market growth include the rising chronic illnesses, an increase in annual income levels of people, increasing awareness among people on healthcare, and growing investments in the private healthcare sector.
“The need for diagnostic procedures has been increasing due to the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes in emerging countries, which further results in determining the availability of treatment options. Most of the diagnostic treatment options demand the need for several test kits, which use biotechnology reagents to identify a specific anomaly and provide better treatment care with high accuracy,” says a senior research analyst at Technavio.
Global biotechnology reagents market: Segmentation analysis
This biotechnology reagents market analysis report segments the market by technology (chromatography, in-vitro diagnostics, polymerase chain reaction, cell culture, and others) and geography (the Americas, APAC, and EMEA).
The chromatography segment held the largest biotechnology reagents market share in 2018, accounting for more than 32% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018, followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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