Australia Biotechnology Reagents & Kits Market Size & Outlook
Australia biotechnology reagents & kits market, 2018-2028 (US$B)
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Australia biotechnology reagents & kits market highlights
- The Australia biotechnology reagents & kits market generated a revenue of USD 10.1 billion in 2020 and is expected to reach USD 39.0 billion by 2028.
- The Australia market is expected to grow at a CAGR of 18.4% from 2021 to 2028.
- In terms of segment, detection kits was the largest revenue generating kit type in 2020.
- Detection Kits is the most lucrative kit type segment registering the fastest growth during the forecast period.
Biotechnology reagents & kits market data book summary
| Market revenue in 2020 | USD 10.1 billion |
| Market revenue in 2028 | USD 39.0 billion |
| Growth rate | 18.4% (CAGR from 2020 to 2028) |
| Largest segment | Detection kits |
| Fastest growing segment | Detection Kits |
| Historical data | 2018 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Purification Kits, Amplification Kits, Detection Kits, Isolation Kits |
| Key market players worldwide | Thermo Fisher Scientific Inc, Qiagen NV, New England Biolabs, Illumina Inc, Agilent Technologies Inc, Bio-Rad Laboratories Inc, Merck KGaA, Promega, Takara Bio Inc, LGC Group, Toyobo Co Ltd |
Other key industry trends
- In terms of revenue, Australia accounted for 3.0% of the global biotechnology reagents & kits market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China biotechnology reagents & kits market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 106.0 billion by 2028.
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Biotechnology Reagents & Kits Market Scope
Biotechnology Reagents & Kits Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia biotechnology reagents & kits market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology reagents & kits market will help companies and investors design strategic landscapes.
Detection kits was the largest segment with a revenue share of 22.77% in 2020. Horizon Databook has segmented the Australia biotechnology reagents & kits market based on purification kits, amplification kits, detection kits, isolation kits covering the revenue growth of each sub-segment from 2018 to 2028.
The strong government funding and substantial tax breaks for companies investing on R&D are factors driving market growth. Australia’s biotechnology sector receives good funding from the government. The Medical Research Future Fund (MRFF) is a continuing research fund initiated by the Australian Government in 2015.
The government of Australia utilizes some net interest from this investment, to pay for medical research programs every year. In 2020, the fund was increased to USD 20 billion, which is a long-term investment focused on helping Australian medical research.
Collaborations and partnerships among the key players strengthen their market presence in the country as well as at the global level, driving revenue. For instance, in April 2020, BGI entered into a partnership with Minderoo Foundation to launch a Huo-Yan laboratory solution, to counter SARS-CoV-2 pandemic in the country.
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Our clientele includes a mix of biotechnology reagents & kits market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia biotechnology reagents & kits market , including forecasts for subscribers. This country databook contains high-level insights into Australia biotechnology reagents & kits market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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Australia biotechnology reagents & kits market size, by kit type, 2018-2028 (US$B)
Australia Biotechnology Reagents & Kits Market Outlook Share, 2020 & 2028 (US$B)
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