Biochemical Diagnostic Reagent Market Report 2024 (Global Edition)

Global Biochemical Diagnostic Reagent Market Report 2024 Market Size Split by Product Form (Liquid Reagents Lyophilized Reagents, Solid Reagents), by Type (Enzymes, Antibodies, Assay Kits, Chemical Re...

Biochemical Diagnostic Reagent Market Report Description

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Biochemical Diagnostic Reagent Market Insights Video

Competitive Landscape of the Biochemical Diagnostic Reagent Market

In the biochemical diagnostic reagent market's competitive landscape, numerous key competitors are driving innovation and growth. Market rivalry is encouraging technological and design innovations to create biochemical diagnostic reagents that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In March 2019, Ortho Clinical Diagnostics introduced four new essential assays to satisfy the fast-growing diagnostics industry in China. To meet the needs of the constantly developing diagnostics market, Ortho Clinical Diagnostics, a global leader in in vitro diagnostics, has introduced four new important tests. (Source: https://www.orthoclinicaldiagnostics.com/webresources/File%20Library/pdf/en-us/MPA/J33015_5600-UDAGuide_EN.pdf In December 2021, Sino Biological Inc launched a panel of research reagents for the recently discovered Omicron version of the SARS-CoV-2 virus, causing worry around the world. (Source: https://www.sinobiological.com/news/omicron-reagents-launch) In March 2021, Promega Corporation introduced XpressAmp Direct Amplification reagents, which enable RNA extraction-free sample preparation that is automation-friendly. (Source: https://www.promega.in/products/clinical-laboratory-products/amplification/xpressamp-direct-amplification-reagents/?catNum=A8882)

Top Companies Market Share in Biochemical Diagnostic Reagent Industry: (In no particular order of Rank)

• Siemens (Germany)
• Hologic
• Inc. (U.S.)
• Shenzhen Mindray Bio-Medical Electronics Co.
• Ltd. (China)
• Abbott (U.S.)
• BD (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Thermo Fisher Scientific Inc. (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• NeuroLogica Corp.(U.S.)
• Shimadzu Medical (India) pvt. Ltd. (Japan)
• GENERAL ELECTRIC (U.S.)
• Quest Diagnostics Incorporated (U.S.)
• Sysmex India Pvt. Ltd. (Japan)
• Hitachi
• Ltd. (Japan)
• Canon Inc. (Japan)
• FUJIFILM Holdings Corporation (U.K.)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Biochemical Diagnostic Reagent Market

Which Region Dominates the Biochemical Diagnostic Reagent Market in 2024?

According to cognitive market research, North America currently dominates the biochemical diagnostic reagents market, and the region is expected to have significant growth during the projected period. The presence of key market players and large pharmaceutical and biopharmaceutical industries, combined with increasing expenditures in the country for the adoption of modern technologies, are likely to drive regional market growth throughout the projection period. Other chronic diseases, such as cancer, are also prevalent in the United States.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The rising popularity of molecular tests over traditional tests, such as microbiological tests, has resulted in a rise in the occurrence of lifestyle-related and chronic disorders.

The current report Scope analyzes Biochemical Diagnostic Reagent Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Biochemical Diagnostic Reagent

According to cognitive market research, the global biochemical diagnostic reagent market size was estimated at USD 24581.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 9832.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.

• According to cognitive market research, the US had a major share in the biochemical diagnostic reagent market with a market size of USD 7757.83 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. In the U.S, rising prevalence of chronic diseases boosting diagnostic needs
• The Canada biochemical diagnostic reagent market had a market share of USD 1179.90 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. Canada’s expanding healthcare infrastructure and advanced diagnostic capabilities.
• The Mexico biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 894.76 million in 2024.

Europe Biochemical Diagnostic Reagent

According to cognitive market research, the global biochemical diagnostic reagent market size was estimated at USD 24581.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 7374.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.

• The United Kingdom's biochemical diagnostic reagent market had a market share of USD 1238.89 million in 2024 and is projected to grow at a CAGR of 8.1% during the forecast period. In the UK, Biochemical Diagnostic Reagent sales witness an upswing due to the increasing focus on environmental sustainability.
• The France biochemical diagnostic reagent market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 678.44 million in 2024.
• According to cognitive market research, the German biochemical diagnostic reagent market size was valued at USD 1460.12 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. In Germany, Biochemical Diagnostic Reagents surged due to the Increased focus of the manufacturers and major market players.
• The Italy biochemical diagnostic reagent market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 634.19 million in 2024.
• The Russia biochemical diagnostic reagent market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 1143.03 million in 2024.
• The Spain biochemical diagnostic reagent market is projected to witness growth at a CAGR of 6.4% during the forecast period with a market size of USD 604.70 million in 2024
• The Luxembourg biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.4% during the forecast period, with a market size of USD 228.61 million in 2024.
• The Portugal biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 154.86 million in 2024.
• The Greece biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 88.49 million in 2024.
• The Rest of Europe's biochemical diagnostic reagent market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 1143.03 million in 2024.

Asia Pacific Biochemical Diagnostic Reagent

According to cognitive market research, the global biochemical diagnostic reagent market size was estimated at USD 24581.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5653.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2031.

• According to cognitive market research, the China biochemical diagnostic reagent market size was valued at USD 2544.15 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period. Biochemical Diagnostic Reagent surged in China due to the Increased focus of the manufacturers and major market players.
• The Japan biochemical diagnostic reagent market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 780.21 million in 2024.
• The India biochemical diagnostic reagent market had a market share of USD 678.44 million in 2024 and is projected to grow at a CAGR of 12.6% during the forecast period. India's rising awareness among the populations .
• The South Korean biochemical diagnostic reagent market is projected to witness growth at a CAGR of 9.9% during the forecast period, with a market size of USD 565.37 million in 2024.
• The Australian biochemical diagnostic reagent market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 293.99 million in 2024.
• The South East Asia biochemical diagnostic reagent market is projected to witness growth at a CAGR of 11.8% during the forecast period, with a market size of USD 390.10 million in 2024.
• The Rest of Asia Pacific's biochemical diagnostic reagent market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 401.41 million in 2024.

South America Biochemical Diagnostic Reagent

According to cognitive market research, the global biochemical diagnostic reagent market size was estimated at USD 24581.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 1229.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

• According to cognitive market research, the Brazil biochemical diagnostic reagent market size was valued at USD 526.04 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Biochemical Diagnostic Reagents flourished in Brazil due to increasing demand for packaged food and beverages.
• Argentina's biochemical diagnostic reagent market had a market share of USD 206.48 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period. Argentina's rising personal disposable income .
• Colombia's biochemical diagnostic reagent market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 109.39 million in 2024.
• Peru's biochemical diagnostic reagent market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 100.78 million in 2024.
• Chile's biochemical diagnostic reagent market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 88.49 million in 2024.
• The Rest of Latin America's biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 197.88 million in 2024.

Middle East and Africa Biochemical Diagnostic Reagent

According to cognitive market research, the global biochemical diagnostic reagent market size was estimated at USD 24581.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 491.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031..

• The GCC Countries' biochemical diagnostic reagent market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 210.42 million in 2024. Biochemical Diagnostic Reagent sales flourish due to the presence of major market players.
• The Egypt biochemical diagnostic reagent market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 51.62 million in 2024.
• The South Africa biochemical diagnostic reagent market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 77.68 million in 2024. Biochemical Diagnostic Reagent sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey biochemical diagnostic reagent market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 42.28 million in 2024.
• The Nigeria biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 51.62 million in 2024.
• The Rest of the MEA biochemical diagnostic reagent market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 58.01 million in 2024.

Biochemical Diagnostic Reagent Market Analysis

Biochemical Diagnostic Reagent Market Product Form Segment Analysis

According to cognitive market research, liquid reagents, lyophilized reagents biochemical diagnostic reagents are likely to dominate the biochemical diagnostic reagent market over the forecast period. Liquid reagents often dominate due to their broad use in diagnostic techniques such as clinical chemistry and immunoassays. Liquid reagents are preferable in automated diagnostic systems because they are ready to use, which reduces preparation time and errors.

Solid reagents are the fastest-growing segment in the biochemical diagnostic reagent market. Solid reagents are more widely used because they are easier to store, have a longer shelf life, and are more stable than liquid reagents.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Biochemical Diagnostic Reagent Industry. Request a Free Sample PDF!

Biochemical Diagnostic Reagent Market Type Segment Analysis

According to cognitive market research, the enzymes segment holds the largest share of the market. Enzymes play an important role in biochemical diagnostics because they act as catalysts in a variety of diagnostic assays, including clinical chemistry, immunology, and molecular diagnostics. This category is a major participant due to the significant need for enzyme-based diagnostic tools in illness detection and monitoring.

In the biochemical diagnostic reagent market, assay kits have been expanding at a rapid pace. Assay kits, which contain prepackaged reagents and instruments for performing diagnostic tests, are quickly expanding. These kits streamline the diagnosis procedure, providing accuracy and ease in both clinical and research settings. This segment's growth is being driven by advances in customized medicine and the increased usage of diagnostics in both healthcare and research institutions.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Biochemical Diagnostic Reagent Application Segment Analysis

Biochemical Diagnostic Reagent Market Application Segment Analysis

According to cognitive market research, The clinical diagnostics segment holds the largest market share. The rising prevalence of chronic diseases like cancer and diabetes, as well as developments in healthcare infrastructure, are all contributing to an increase in the demand for reliable and speedy diagnostic tests. Clinical diagnostics have a significant proportion since they are necessary for diagnosing and monitoring a variety of medical problems.

In the biochemical diagnostic reagent market, the rapidly growing sector is the research & development category. However, despite continual improvements in biochemical technology and pharmacological research, it has a smaller market share than clinical diagnostics.

• Clinical Diagnostics
• Research & Development
• Environmental Testing

Biochemical Diagnostic Reagent End-user Segment Analysis

Biochemical Diagnostic Reagent Market End-User Segment Analysis

According to cognitive market research, the hospitals & clinics segment dominates the market. There is a strong need for diagnostic tests for a variety of health issues. Hospitals and clinics require diagnostic reagents on a constant basis for disease diagnosis, monitoring, and management, which contributes to their significant market share.

Diagnostic laboratories are projected to be the fastest-growing segment in the biochemical diagnostic reagent market. Driven by an increase in outsourced diagnostic services, technological developments, and a greater emphasis on specialist diagnostic tests. These laboratories profit from economies of scale and efficiency, resulting in rapid growth, particularly in developed markets. The increased demand for early diagnosis, as well as the shift toward individualized therapy, are propelling this category forward.

• Hospitals & Clinics
• Diagnostic Laboratories
• Research Institutions
• Pharmaceutical Companies

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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