Life science is the study of organisms and microbes. It includes wide range of fields such as biotechnology, cell biology, molecular biology, genetics, biomedicine, and biochemistry. Instruments, consumables, reagents, and other services are all part of the life sciences tools industry. In recent years, the global life sciences tools market has benefited from the growth of the pharmaceutical & healthcare industries, as well as the increase of the research and development sector. The tools & reagents used to conduct research in the domains of genomics (DNA and RNA research) are cell biology research, bioinformatics, epigenetics, proteomics, metabolomics, stem cell research, and imaging & microscopy.
COVID-19 Impact analysis
- The COVID-19 virus has infected nearly every country in the world, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19 has had a wide range of consequences, including flight cancellations, travel bans, quarantines, and more. The COVID-19's global effects will have a substantial impact on the Life Science Tools & Reagents industry in the forecasted years. The need for life science reagents is increasing as a result of the COVID-19 pandemic, which is propelling the industry further. The increased number of COVID-19 cases is driving market expansion by boosting demand for tests and other sorts of research that would require reagents. Diazyme collaborated with Maccura Biotechnology USA to offer a SARS-CoV-2 RT-PCR diagnostics test that was approved by the Food and Drug Administration Emergency Use Authorization (FDA EUA) in July 2020.
Top Impacting Factors
Rise in prevalence of chronic and infectious diseases such as Zika, Dengue, and HIV, among others, has a direct impact on the increased demand for life science tools and reagents in the search for treatment.
The market is predicted to benefit from increased demand for life sciences tools and reagents in the pharmaceutical industry, as well as a high prevalence of drug-resistant diseases and increase in spending on healthcare during the forecast years.
In addition, product launches and technological advancements such as PCR technology, molecular diagnostics, and stem cell research in the field of life sciences and biotechnology propel the growth of the market.
Furthermore, R&D expenditures, increased competition, and patent expirations contribute toward the expansion of the market.
However, high cost of reagents and the strict regulatory framework hinder the expansion of the industry.
New product launches to flourish the market
- In July 2020, the company Corning Incorporated launched 3D Clear Tissue Clearing Reagent and have expanded its 3D cell culture imaging portfolio. This reagent is projected to help in rapid imaging of tissues in 3D cell culture.
- In May 2020, the company Meridian Bioscience, Inc. who is a leading provider of diagnostic testing solutions and life science raw materials had announced the approval of SARS-CoV-2 antigens and related reagents from the U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA).
Key Benefits of the Report
- This study presents the analytical depiction of the Life Science Tools and Reagents 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 detailed analysis of the Life Science Tools and Reagents market share.
- The current market is quantitatively analyzed to highlight the Life Science Tools and Reagents market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Life Science Tools and Reagents market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Life Science Tools and Reagents Report
- Who are the leading market players active in the Life Science Tools and Reagents market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Life Science Tools and Reagents"?
- What is "Life Science Tools and Reagents" Market prediction in the future?
- Who are the leading global players in the "Life Science Tools and Reagents" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Life Science Tools and Reagents" Market report?
Life Science Tools and Reagents Market Report Highlights
By Product Type
By End User
Key Market Players
EMD Millipore (Merck KGaA), Sigma-Aldrich Corporation, Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche Ltd, Agilent Technologies Inc, Life Technologies (Thermo Fisher Scientific Corporation).