Transparency Market Research (TMR) has
published a new report on the life
science reagents market for the forecast period of 2019–2027.
According to the report, the global life science reagents market was valued at
around US$ 37,000 Mn in 2018, and is projected to expand at a CAGR of nearly 8%
from 2019 to 2027.
Life Science Reagents
Market: Overview
- Life science reagents play a critical role in the manufacturing
and testing of pharmaceutical products, cell-based products, and several
other healthcare-related solutions. The growth of the global life science
reagents market is attributed to the increase in the global geriatric
population, which is more prone to different types of infectious diseases.
Moreover, the increase in the incidences of infectious diseases and
technical advancements in the life science industry are boosting the
growth of the global life science reagents market.
- North America dominated the global life science reagents market
in 2018, and this trend is expected to continue during the forecast period
too. This is attributed to the increase in research and development
activities in the region, which drive the demand for life science reagents
to perform various research activities.
- However, the increase in the number of local manufacturers
creating pricing pressure in the market is likely to hamper the growth of
the global life science reagents market in North America during the latter
half of the forecast period. Asia Pacific is expected to be a highly
lucrative market for life science reagents during the forecast period.
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Technological Advancements and High
Prevalence of Chronic and Infectious Diseases to Drive Market Growth
- Technological advancements in the field of life sciences and
biotechnology have resulted in numerous changes in healthcare diagnostics,
drug discovery, personalized
medicines, forensic sciences, and clinical research & development,
majorly driving the growth of the life science reagents market.
- Developments in enzyme-linked immune assay technology
(ELISA), polymerase
chain reaction (PCR) such as digital PCR, rtPCR, chromatography,
single cell technology, next-generation sequencing (NGS), and flow
cytometry techniques, and their applications in the healthcare industry
such as disease diagnostics and treatment monitoring are propelling the
growth of the global life science reagents market.
- Additionally, the diagnosis of infectious and chronic diseases
is one of the leading applications of in-vitro diagnostics. Life science
reagents (both, biological and chemical reagents) are integral and vital
parts of the any diagnostic test.
- The outbreak of infectious viruses such as Zika, in 2015,
positively impacted the in-vitro diagnostic industry. This, in turn,
increased the demand for life science reagents.
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Life Science Reagents Market:
Immunoassay Reagents Segment to Remain Prominent
In terms of product, the global life
science reagents market has been classified into chromatography reagents,
molecular diagnostic reagents, immunoassay reagents, clinical chemistry
reagents, flow cytometry reagents, cell & tissue culture reagents,
hematology & hemostasis reagents, microbiology reagents, and others. The
immunoassay reagents segment dominated the global life science reagents market
in 2018 and the trend is likely to continue during the forecast period.
Life Science Reagents
Market: Hospitals & Diagnostic Laboratories to be a Promising Segment
- In terms of end user, the global life science reagents market
has been divided into hospitals & diagnostic laboratories, commercial
& contract research manufacturers, academic & research institutes,
and others (blood banks, forensic laboratories, and government
institutes).
- The hospitals & diagnostic laboratories segment is expected
to be a highly lucrative segment of the global life science reagents
market during the forecast period. The segment is likely to be driven by
an increase in the number of diagnostic tests.
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Life Science
Reagents Market: Competitive Landscape
- Hoffmann-La Roche AG and Thermo
Fisher Scientific, Inc. lead the global life science reagents market.
- The global life science reagents
market is fragmented in terms of number of players. Key players in the global
market include Hoffmann-La Roche AG, Danaher Corporation, Abbott, Siemens
Healthineers, DiaSorin S.p.A, Sysmex Corporation, bioMerieux SA, Thermo
Fisher Scientific, Inc., BD, Merck KGaA, Agilent Technologies, Inc., and
Waters Corporation. Wide distribution network, new product development,
and mergers & acquisitions are the key strategies followed by these
major players to operate their businesses in the global life science
reagents market.
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