Life science reagent is a compound that is often used in a chemical reaction to observe changes and draw out inferences. These reagents are rigorously used to develop a new reactant or determine the cause of an illness or a disease. In addition, they are used in chemical reactions to detect, examine, or measure other substances.
Life science reagents are an integral part of the biotechnology, pharmaceutical, and life science industries where they are primarily used for developing test kits and solutions, different types of assays, and culture media. Other than this, these reagents find their applications in chromatography and spectroscopy.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the biotechnology industry is expected to witness significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19.
COVID-19 is expected to have a significant impact on the life science reagents market as the supply chain of raw materials required to manufacture these reagents has been disrupted in many countries. In addition, the market growth of life science reagents is declining, as manufacturers of these products have slowed down their production due to the pandemic.
Top Impacting Factors
Life science reagents are often used to determine the cause of a disease. Hence, the rising cases of infectious diseases all over the world is the major factor driving the growth of the life science reagents market.
In addition, lack of healthcare facilities and structures can make different types of infectious diseases fatal, which is the case in most of the underdeveloped and developing countries. This factor is positively influencing the growth of the life science reagents market.
The adoption of life science reagents is increasing in diagnostic laboratories and hospitals is further increasing the growth of the global life science reagents market.
However, high cost of life science reagents and stringent regulatory framework regarding the launch and distribution of these reagents impede the growth of the market.
Key Market Trends
The diagnostic laboratories & hospitals segment is anticipated to hold a major share of the life science reagents market, as the adoption rate for life science reagents has increased in these institutions over the years. The increased adoption rate is attributable to the safety and efficacy of life science reagents.
In 2020, Corning, Inc. launched its 3D clear tissue clearing reagent, which helped expand the 3D cell culture imaging portfolio of the company. The 3D clear tissue clearing reagent helps in rapid and advanced imaging of tissues in three-dimensional cell cultures.
In 2020, Meridian Bioscience, Inc. announced the approval of its SARS-CoV-2 antigens and other related reagents from the U.S. Food and Drug Administration (FDA).
North America dominates the life science reagents market due to high investment in life science projects, new reagents developments, and a presence of sophisticated research & development infrastructure.
Asia-Pacific is expected to witness lucrative growth in the life science reagents market, due to increasing outsourcing activities in the field of life science and the adoption of advanced technological products in nations such as Japan, South Korea, Malaysia, and China.
Key Benefits of the Report
- This study presents the analytical depiction of the life science reagents industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Life Science Reagents Report
- Which are the leading players active in the life science reagents market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the life science reagents market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What are life science reagents?
- What are the current trends and predicted trends?
Life Science Reagents Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By End User |
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 By Region |
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 Key Market Players | Merck KGaA, Sysmex Corporation, Abbott, BioMerieux SA, Thermo Fisher Scientific, Inc, Hoffmann-La Roche, Becton, Dickinson and Company, Siemens Healthineers, DiaSorin S.p.A, Danaher Corporation |
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