The global life science reagents market size is forecasted to reach from US$ 43 billion in 2021 to US$ 88.22 billion by 2030, growing at a CAGR of 8.3% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The life science reagents market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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The rising prevalence of infectious diseases, increased demand for various diagnostic tests, rising investments in the research activities by the biotechnology companies, rapidly growing biopharmaceutical industry, and technical advancements in the life science research are the significant factors that propels the growth of the global life science reagents market across the globe. The rising prevalence of various infectious diseases such as Hepatitis A virus, HIV, Zika, and Dengue has resulted in the increased demand for the life science reagents. According to the Journal of Infectious Diseases and Therapy 2019, around 1.5 million clinical cases of Hepatitis A Virus is reported across the globe each year. Zika Virus was declared an endemic in Africa.
According to the World Health Organization, more than 31,000 confirmed cases of Zika Virus had been reported in Americas in 2018. Furthermore, the rapidly growing prevalence of the dengue across the globe is fostering the demand for the life science reagents market.According to the WHO, the cases of dengue fever increased rapidly from 505,430 cases in 2000 to 4.2 million in 2019, all over the globe. The global life science reagents market is fragmented due to the presence of numerous market players. The various developmental strategies adopted by them such as new product launches, partnerships, and acquisitions highly influences the market growth. Therefore, the rapid penetration of the life science reagents market players across the globe is significantly contributing towards the growth of the global life science reagents market.
Report Scope of the Life Science Reagents Market
|Market Size||USD 88.22 Billion by 2030|
|Growth Rate||CAGR of 8.3% From 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application, Region|
North America dominated the global life science reagents market. The rapid growth in the biopharmaceutical industry in the US has boosted the consumption of the life science reagents. Further, the rapidly growing CROs in the region is fostering the demand due to the increased research activities related to new drugs and diagnostics methods. The rising prevalence of various chronic diseases and growing geriatric population in US is further expected to fuel the growth of the life science reagents market across North America in the upcoming years.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rising government initiatives to develop pharmaceutical industry and healthcare infrastructure in the region is expected to drive the market growth. Countries like China, South Korea, Singapore, and India is presenting lucrative growth opportunities owing to the presence of several top contract research organizations. Further, the rising prevalence of infectious diseases like dengue is presenting a growth aspect to the life science reagents market players.
The recent outbreak of the COVID-19 pandemic resulted in an increased demand for the life science reagents across the globe. The life science reagents were extensively used for the diagnosis of the COVID-19 among the target patients. The rapid spread of the virus in almost all the countries of the world, spiked the demand for the life science reagents.
The high capital investments associated with the research of the life sciences for the development of various diagnostic tests and drugs may hamper the growth of the market during the forecast period.
Based on the product, the immunoassay segment was the dominating segment in 2020. The extensive demand for the immunoassay reagents among the hospitals and diagnostic labs has boosted the growth of this segment. Moreover, the rapid growth in the number of the diagnostic centers and biopharmaceutical companies has fueled the demand for the immunoassay reagents that spurs the growth of this segment.
Based on the application, the hospitals& diagnostic labs segment dominated the global life science market in 2020. The rising prevalence of various diseases and the increasing need for the diagnostics is boosting the demand for the life science reagents across the hospitals and diagnostic labs all over the globe. Moreover, the rapid growth and penetration of the hospitals, clinics, and diagnostic labs in the developed and developing nations has increased the consumption, thereby fostering the market growth in the past few years.In 2020, the demand for the life science reagents suddenly spiked due to the rapid spread of the COVID-19 virus. Diagnostic labs and hospitals were increasingly using the life science reagents to test their patients.
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global life science reagents market are listed as below:
- Hoffmann-La Roche
- Thermo Fisher Scientific Inc.
- Dickinson and Company
- BioMerieux SA
- Merck KGaA
- Danaher Corporation
- Siemens Healthineers
- Sysmex Corporation
Segments Covered in the Report
- Cell Culture
- Clinical Chemistry
- Flow Cytometry
- Hospitals & Diagnostic Labs
- Academic Research & Institutes
- Contract Research Organizations
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global life science reagents market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for life science reagents are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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