The global life science tools market size reached USD 111.28 billion in 2022 and is projected to hit around USD 367.16 billion by 2032, poised to grow at a CAGR of 13% from 2023 to 2032.
Key Takeaway:
- North America is estimated to account for the share of 43.3% in 2023 and is projected to reach 44.9% by 2032
- Europe is estimated to account for the share of 25.6% in 2023 and is expected to reach 22.6% by 2032
- By Technology, in 2022, cell biology technology has captured a revenue share of 34.5%.
- The Proteomics technology segment is growing at the fastest CAGR over the forecast period.
- By Product, in 2022, cell culture systems and the 3D cell culture segment have captured a revenue share of 18.4%.
- Next-generation sequencing is growing at a CAGR of 7.8% from 2023 to 2032.
- By End-use, the healthcare segment has generated a revenue share of around 33.8% in 2022.
- The Asia Pacific region is growing at the highest CAGR over the projected period.
- The China biotechnology market is growing at a CAGR of 7.9% over the forecast period.
Introduction
Life science is a branch of science that deals with the study of microorganisms and organisms. It is an umbrella term for wide range of fields such as biotechnology, biomedicine, cell biology, molecular biology, genetics, and biochemistry. The global life sciences tools market includes reagents, consumables, instruments, and various other services. The growth of the healthcare industry, pharmaceutical industry, and the prominent rise in the research and development sector has significantly augmented the global life sciences tools market growth in the recent years.
Growth Factors
The availability of better instruments and improved reagents has speed up the research and development process of drug. Rising investments in the development of bleeding edge technologies that improves life science instruments expected to trigger the growth of life science tools during the analysis period. In addition, prevalence of cancer and other major diseases also fuel the need for genomic analysis to early diagnose and cure the disease. Increasing cases of genetic disorder and birth defects have also prominently triggers the demand for life science tools in the near future. World Health Organization (WHO) has also quoted that prevalence of single gene disease at the time of birth is approximately 10 out of 1000 across the world.
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1064
Regional Snapshots
North America led the global life science tools market with significant revenue share in 2019 due to prominent presence of major market leaders such as Thermo Fisher Scientific. Increasing investment for research & development in medical science contribute significantly for the market growth. In addition, the region is technologically advanced in terms of healthcare facilities as well as invests significantly on the development of hospitals and other medical centers that augment the growth of life science tools in the coming years.
On the other hand, the Asia Pacific seeks lucrative growth over the forecast period due to increasing expenditure on treatment coupled with emergence of the healthcare sector in the region projected to propel the growth of life science tools in the region.
Life Science Tools Market Scope
| Report Highlights | Details |
| Market Size in 2023 | USD 122.58 Billion |
| Market Size by 2032 | USD 367.16 Billion |
| Growth Rate From 2023 To 2032 | CAGR of 13% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Technology, Product, End User, Region |
Key Players & Strategies
The global life science tools market is dominated by the major market leaders such as Thermo Fisher Scientific and AgilentTechnologies. Thermo Fisher Scientific is among the largest suppliers of wide range of innovative solutions for life science tools and other solutions across the globe. Similarly, AgilentTechnologies is one of the market leaders in chromatography market that has strong foothold in the gas chromatography and high-performance liquid chromatography markets. Furthermore, biopharmaceutical companies are significantly collaborating and entering into partnership with medical research centers and health institutes to escalate the development of genomic science.
Read Also: Microcontroller (MCU) Market Size Hit US$ 69.08 Bn by 2032
Recent Developments
- In January 2023, Avida Biomed, a fledgling life sciences firm that creates high-performance target enrichment workflows with distinctive features for clinical researchers using next-generation sequencing (NGS) methods to study cancer, has been acquired by Agilent Technologies Inc.
- In January 2023, to enhance companion diagnostics for genetic disorders, QIAGEN established an exclusive strategic agreement with California-based population genomics company Helix.
- In August 2022, A framework has been established for the development, production, marketing, and commercialization of flow cytometry-based companion diagnostics (CDx), which are meant to complement patients with potentially life-altering therapies for cancer and alike diseases. Becton, Dickinson and Company, a leading global medical technology company, and Labcorp, a premier life sciences company, declared their strategic collaboration.
- In August 2022, the developer of cutting-edge technology solutions for the medical diagnostic and healthcare markets, Curiosity Diagnostics, with headquarters in Poland, announced that it has reached a deal to be acquired by Bio-Rad Laboratories, Inc. for a registered capital of up to $170 million, consisting of roughly $100 million in cash and up to $70 million in potential future milestone payments.
Some of the prominent players in the life science tools market include:
- Agilent Technologies
- Becton, Dickinson and Company
- Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- Danaher Corporation
- GE Healthcare
- Hitachi, Ltd.
- Illumina, Inc.
- Merck KGaA
- Oxford Instruments plc
- Qiagen N.V.
- Shimadzu Corporation
- Thermo Fisher Scientific, Inc.
- ZEISS International
Segments Covered in the Report
By Technology
- Genomic Technology
- Cell Biology Technology
- Proteomics Technology
- Lab Supplies & Technologies
- Other Analytical & Sample Preparation Technology
By Product
- NGS
- Sanger Sequencing
- Nucleic Acid Preparation
- Nucleic Acid Microarray
- PCR & qPCR
- Flow Cytometry
- Mass Spectrometry
- Separation Technologies
- Electron Microscopy
- NMR
- Others
By End-User
- Biopharmaceutical Company
- Government & Academic
- Industry
- Health Care
- Others
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/
