Biotechnology Reagents Market Trends, Industry Share and Size, Analysis and Forecast to 2033
Overview and Scope Biotechnology reagents refer to chemical compounds that are used in detecting, measuring, and preparing a product, and others by facilitating chemical. Biotechnology reagents are used in the quantification and detection of desired substances, as the binding of reagents to the substance or other related substances triggers certain reactions. Sizing and Forecast The biotechnology reagents market size has grown strongly in recent years. It will grow from $78.82 billion in 2023 to $86.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rise in biopharmaceutical development, genomics and proteomics research expansion, drug discovery and development, increasing life sciences research funding, global focus on precision medicine. The biotechnology reagents market size is expected to see strong growth in the next few years. It will grow to $124.95 billion in 2028 at a compound annual g...