Laboratory Chemical Reagents - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Laboratory Chemical Reagents Market is accounted for $17.34 billion in 2019 and is expected to reach $33.06 billion by 2027 growing at a CAGR of 8.4% during the forecast period. Increasing demand from the biotechnology industry is one of the major factors fuelling the market growth. However, the employee wages, transportation costs, and equipment depreciation will play a major role in promoting the cost of laboratory chemical reagents and thereby hampering the market growth.
Laboratory chemical reagent is a composite that is utilized in a chemical reaction to identify, examine, determine, or manufacture other chemical substances. The chemical reagents play an important role in the correctness 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.
Based on the product, the molecular biology segment is likely to have a huge demand due to the field of molecular biology witnessed a plethora of new opportunities with the end of human genome project which has prolonged the usage of polymerase chain reaction. The market for this segment is increasing on account of growing awareness and increased acceptance of real-time PCR.
By geography, the Asia Pacific is estimated to have a lucrative growth due to the 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.
Some of the key players profiled in the Laboratory Chemical Reagents Market include Thermo, Aladdin, American Element, Applichem, BOC Sciences, Euroasia Trans Continental, Glentham Life Sciences, Wako-chem, Jkchemical, JUNSEI, Kanto, Merck, Scientific OEM, Sinopharm, SRL Chemical, Xilongchemical.
• Carbohydrate Analysis
• Cell/tissue Culture
• Cytokine and Chemokine Testing
• Environmental Testing
• Molecular Biology
• Environmental Institutions
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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