The laboratory chemicals market is growing primarily due to a significant increase in their use in basic research applications, coupled with large-scale commercial applications. Moreover, growing interest of the world scientific community in such chemicals is anticipated to escalate the growth of the laboratory chemicals market.
An ongoing refinement and advancement of technologies such as cell culture, recombinant DNA, and bio-therapeutics, have enhanced the scientific community's ability to identify and produce important human therapeutic agents over the years. This has fueled the robust growth of laboratory chemicals market during the past few years. The emerging disciplines, such as neurosciences and proteomics, are also expected to help drive the market growth in the future.
The global laboratory chemicals market is segmented by type into molecular biology, cytokine & chemokine testing, carbohydrate analysis, immunochemistry, cell/tissue culture, environmental testing, and biochemistry, among others. By application, the market is segmented into academic, environmental, healthcare, research & development of life sciences, and quality control, among others.
Molecular biology, a study of the 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. This constitutes the largest application area of laboratory chemical. Cytokine & Chemokine Testing is the fastest growing application area regarding consumption and is projected to grow at a compounded annual rate of 6.1 per cent over the analysis period.
Some of the major companies dominating this market for its products, services, and continuous product developments are