Global Laboratory Chemical Reagents Market to Reach US$16.5 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Laboratory Chemical Reagents markets. The global market for Laboratory Chemical Reagents is forecast to reach US$16.5 billion by the year 2015. This is primarily driven by increased use of laboratory chemical reagents in basic research coupled with large-scale commercial applications. In addition, growing inclination of world scientific community towards laboratory chemical reagents also will contribute to the market growth.
San Jose, CA (Vocus/PRWEB) January 18, 2011
Constant refinement and advances in technologies such as cell culture, recombinant DNA, and bio-therapeutics enhanced the scientific community’s ability to identify and produce important human therapeutic agents over the years. The scenario fueled robust growth in laboratory chemical reagents market during the past several years. Further, factors including large-scale commercial applications and increasing application in basic research are fueling the demand for laboratory chemical reagents. In addition, emerging disciplines such as neurosciences and proteomics are expected to fuel the market growth. The market witnessed a drop in revenues during 2008 and 2009 because of soft consumer demand, impacted by global economic recession.
Antibodies are becoming increasingly significant, both as diagnostic as well as therapeutic tools for targeting the diseased cells and cell compounds. A wide variety of new antibodies that could offer effective treatment for a range of diseases are being released into the market, owing to technological advances in the field. The market for antibodies, especially for monoclonal antibodies that offer effective treatment for diseases including infectious and cardiovascular, inflammatory diseases and cancer and autoimmune diseases, is rapidly expanding all over the world. Physicians are turning more and more towards monoclonal antibodies, as a method of treating various diseases, since the effectiveness of traditional medicines is found to be limited and could even cause dangerous side effects. The market indicators indicate the growing importance of antibodies and particularly the monoclonal antibodies, as effective therapy for several diseases, due to its negligible and low toxicity level and potential to serve as a catalyst to deliver a drug. With the growing launches of new monoclonal antibody therapeutic products and rising indications for current products, the market for antibodies is expected to rise through the forecast period. The global market for antibodies is projected to expand significantly in the coming years. Laboratory chemical reagents market is poised to benefit from such growth in the antibodies sector.
The United States represents the largest regional market for laboratory chemical reagents worldwide, as stated by the new market research report on Laboratory Chemical Reagents. The US laboratory chemical reagents market is being driven by technological developments and innovations in the nucleic acid testing procedures, advancements in molecular pathology assays and improvements in cell/tissue culture technology among others. Asia-Pacific represents the fastest growing market, with sales of laboratory chemical reagents projected to grow at a compounded annual rate of 5.7% through 2015.
Molecular Biology constitutes the largest application area of laboratory chemical reagents. Molecular biology, the study of interaction of macromolecules present in living cells, utilizes reagents of classes such as Monoclonal & Polyclonal Antibodies; Gene Expression, Vectors, Cloning & Sequencing; and Gene Synthesis among others. Cytokine & Chemokine Testing represents the fastest growing application area with consumption projected to grow at a compounded annual rate of 6.2% over the analysis period.
A plethora of new opportunities in molecular biology were unveiled with the conclusion of the human genome project, consequently expanding the versatility of Polymerase Chain Reaction (PCR). Currently, PCR technologies are extensively used in numerous molecular biology applications including gene expression, paternity testing, forensic finger printing and DNA sequencing, apart from the conventional drug discovery segment. Increasing sales of thermal cyclers are driving the market sales of PCR reagents as well. The market for PCR reagents is growing, on account of the increased awareness and acceptance of real-time PCR concept. Real-time PCR reagents score over standard PCR reagents by offering capabilities to instantly quantify improved DNA sequences. Predicted substantial increase in real-time PCR reagents’ sale is expected to concurrently improve the value of the PCR reagents market. The reagents are now user friendly and sophisticated on account of premixes, which are also gaining momentum.
Major players and suppliers profiled in the report include BD Biosciences, Beckman Coulter Inc., bioMérieux, CALTAG Laboratories, EMD Chemicals Inc., GE Healthcare, Life Technologies Corporation, Lonza Biologics Ltd., Meridian Life Science Inc., PerkinElmer Inc., Promega Corporation, QIAGEN, R&D Systems, SAFC Biosciences Inc., Shimadzu Biotech, Sigma-Aldrich Corp., Strategic Diagnostics Inc., Takara Bio Inc., Wako Pure Chemical Industries Ltd., Waters Corp, among others.
The research report titled “Laboratory Chemical Reagents: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. provides a comprehensive review of the laboratory chemical reagents markets, current market trends, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Laboratory Chemical Reagents market for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key application areas analyzed include Molecular Biology (Monoclonal & Polyclonal Antibodies, Gene Expression Vectors, Cloning & Sequencing, Gene Synthesis, Extraction Kits, PCR Reagents, Enzymes, and Others), Biochemistry (IVD), Cytokine & Chemokine Testing, Cell/Tissue Culture, Carbohydrate Analysis, Immunohistochemistry, and Environmental Testing (Pesticide Residues and Others). Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www. strategyr. com/Laboratory_Chemical_Reagents_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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