Reaction kinetics is the study of the rates at which chemical reactions occur. It examines how different factors, such as temperature, concentration, and the presence of catalysts, influence the speed of reactions. Understanding these rates helps chemists predict how long a reaction will take and how to control it for various applications. By analyzing the mechanisms of reactions, scientists can determine the steps involved and identify the rate-determining step, which is the slowest part of the process. This knowledge is crucial in fields like pharmaceuticals, where optimizing reaction conditions can lead to more effective drug development and production.