Life Science Tools Market Size USD 230.1 BN by 2030 with a CAGR of 14.9%

Latest Study on “Life Science Tools Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Life Science Tools market size is expected to be worth around US$ 230.1 billion by 2030, according to a new report by Nova one advisor.

The global Life Science Tools market size was valued at US$ 93.2 billion in 2021 and is anticipated to grow at a CAGR of 14.9% during forecast period 2022 to 2030.

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Key Takeaways:

• Cell biology accounted for the largest revenue share in 2021 and is projected to maintain its dominance throughout the forecast period
• The proteomics technology segment is expected to expand at the fastest CAGR throughout the forecast period owing to a rise in demand for precision medicine
• Researchers suggest that combined genomics and proteomics data can potentially be used for neurodegenerative, neuromuscular, and other chronic disorders; thereby enhancing market growth
• The cell culture systems and 3D cell culture segment was the largest revenue-generating product segment in 2020 as cell biology is gaining importance across multiple aspects of the life science industry
• The cloning and genome engineering segment is expected to expand at the fastest CAGR throughout the forecast period
• Gene cloning has gained significant traction in recent years, becoming a commonly opted approach to make copies of a gene, a science that otherwise remains unexplored
• The health care segment accounted for the largest revenue share in the end-use segment owing to the utility of life science tools in hospitals, clinics, diagnostic laboratories, community centers, and physician offices
• Lucrative opportunities offered by emerging nations has attracted investments from global firms in the Asia Pacific region, thus driving the region at the fastest growth rate throughout the forecast period

The anticipated growth in revenue is attributed to rapid technological advancements adopted by the life science tools companies in mass spectrometry, sequencing technologies, chromatography methods, NMR, and other products. An exponential rise in the COVID-19 cases globally boosts the demand for life science tools for rapid diagnosis.

As the world is engaged in curbing the spread of COVID-19, automation and robotic technologies play an important role in accelerating manual and redundant tasks in pharmaceutical companies and laboratories. To overcome the COVID-19 pandemic, drug developers are continuously working on the development of vaccines and other treatment options. The robotic companies are highly active in this space and are offering automated solutions to drug developers for rapid labor-extensive steps.

In March 2020, the Hamilton Company introduced two automated assay-ready workstations, the MagEx STARlet and Prep STARlet, to assist healthcare professionals and researchers engaged in coronavirus research. These two automated workstations are based on the Microlab STARlet liquid handling workstation of Hamilton, which, in turn, facilitates rapid, high-throughput research and diagnostic-based testing of SARS-CoV-2.

Technological advancements in different life science tools are expected to enhance their adoption among prominent end users of the market, thereby leading to the market growth. For instance, improvements in quantitative accuracy, MS resolution, and information sciences have enhanced the accuracy and utility of mass spectrometry-based methods in the field of proteomics.

Products such as Cell Culture Systems and 3D Cell Culture, Flow Cytometry, PCR and qPCR, Nucleic Acid Preparation, Nucleic Acid Microarray, and Transfection Devices and Gene Delivery Technologies have witnessed substantial growth after the COVID-19 pandemic. Novel research has suggested the use of a flow cytometry-based method for COVID-19 testing. Researchers have also used the technique to explore types of T cells involved in COVID-19 immune responses.

RT-PCR assay is the most commonly used method for the detection of viral RNA in patient samples. Researchers have also developed specific assays to detect SARS-CoV-2. The Center for Disease Control (CDC) has developed a different test protocol by validation and comparison of several kits used in the extraction of nucleic acids. They also used alternative prime and probe sets to detect SARS-CoV-2 in clinical samples.

Report Scope of the Life Science Tools Market

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Technology Insights

The cell biology technology segment dominated the market for life science tools and accounted for the largest revenue share of 35.9%in 2021. The segment is closely followed by genomics technology. Traditional genome editing technologies have a limited capacity of maintaining pace with the fast-progressing genome modification era, owing to the fact that these technologies are time-consuming, inefficient, and labor-intensive.

The advent of CRISPR/Cas9 nuclease and ZFN facilitates easy and precise genome editing. In recent times, the genomics industry has witnessed a substantial number of advancements and expansion of the application of gene editing tools for the treatment of genetic diseases. This has significantly impacted the growth of the market for life science tools.

The proteomics segment is expected to expand at a significant CAGR as proteome analysis can provide a complete depiction of functional and structural information of the cell and their response mechanisms against drugs and other foreign factors. Mass spectrometry is one of the key technologies employed during proteomic workflows. Therefore, technical advances in the field of mass spectrometry drive the capabilities for proteomic discovery.

Product Insights

The cell culture systems and 3D cell culture segment dominated the market for life science tools and accounted for the largest revenue share of 18.9% in 2021. However, the nucleic acid microarray and cloning and genome engineering segments are expected to register lucrative growth rates. The COVID-19 pandemic has significantly propelled the growth of the bioprocessing industry and thereby driving the cell culture systems and 3D cell culture systems. Companies have accelerated their efforts to develop the SARS-CoV-2 vaccine.

The PCR and qPCR segment witnessed substantial growth from 2019 to 2020 owing to high utilization in COVID-19 diagnosis. COVID-19 detection tests are based on RT-PCR technology for quantification of RNA in the samples of coronavirus-affected patients. Large-scale adoption of PCR across government bodies, such as the CDC, commercial laboratories, hospitals, and public health laboratories, has made significant contributions to the revenue generated by this product segment in the market for life science tools.

Moreover, a number of approvals being granted for use of RT-PCR-based molecular diagnostic tests for early detection of COVID-19 drive the segment. The nucleic acid microarray segment is expected to expand at the fastest CAGR. Leading players have developed several advanced instruments for microarray analysis. This has increased the adoption of DNA microarrays among researchers and laboratories.

End-use Insights

The health care segment dominated the market for life science tools and accounted for the largest revenue share of 34.7% in 2021. This segment comprises hospitals, clinics, diagnostic laboratories, community centers, and physician offices. Increasing adoption of genomic and proteomic workflows in hospitals to diagnose and treat several clinical abnormalities is expected to drive the market for life science tools.

In addition, efforts taken by hospitals and clinics to expand their genomics research gateway are also expected to enhance the growth of life science tools. Several hospitals and clinics are currently offering sequencing services to patients and are determining the use of this technology in the daily practice of medicine.

Stanford Medicine is one such hospital that offers sequencing services to individuals who have a rare or undiagnosed condition that is believed to be genetic. Partners HealthCare in the U.S. is one of the first hospital systems to provide genomic sequencing, analysis, and interpretation services to the public. In addition, the growing adoption of NGS services and tissue diagnostic services in hospitals is expected to drive the market for life science tools.

In addition, owing to the rising demand for the diagnostic tests for Covid-19, a pandemic disease declared by the WHO, U.S. FDA has given an emergency approval to a diagnostic, under which, test manufacturer Roche, received an Emergency Use Authorization (EUA). Such initiatives are expected to drive the adoption of life science tools in the diagnostics sector.

Regional Insights

North America dominated the market for life science tools and accounted for the largest revenue share of 47.1% in 2021 owing to the factors such as the local presence of leading market players such as Thermo Fisher Scientific, a reputable informatics network, and a well-regulated framework for usage and approval of genomic tests in the region. In addition, a rise in the number of genomic procedures for academic and clinical use in the U.S. is expected to drive the market for life science tools in North America throughout the forecast period.

In Asia Pacific, the market for life science tools is poised to witness the fastest growth throughout the forecast period owing to the growing penetration of leading players in emerging Asian countries and investments for the design of advanced diagnostic methods. Asia Pacific is a lucrative destination for outsourcing pharmaceutical R&D as the region provides skilled professionals at a much lower cost than developed countries in North America and Europe. Therefore, global CROs have expanded their presence in the Asia Pacific owing to lucrative opportunities in several Asian countries.

Key Companies & Market Share Insights

Thermo Fisher Scientific is one of the largest suppliers of a wide range of innovative solutions for the life science community across the globe. The company’s products are used by researchers and healthcare professionals globally. The company’s portfolio includes nucleic acid purification solutions, flow cytometry instruments, sequencing solutions, thermal cyclers, and other laboratory supplies.

In addition, Affymetrix Inc, a subsidiary of Thermo Fisher Scientific is the leading player in the nucleic acid microarrays market. The chromatography market is dominated by AgilentTechnologies with a strong foothold in the High-performance liquid chromatography and gas chromatography markets. Some of the prominent players in the life science tools market include:

• Agilent Technologies
• Becton, Dickinson and Company
• F. Hoffmann-La Roche AG
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Illumina, Inc.
• Thermo Fisher Scientific, Inc
• QIAGEN
• Merck KGaA
• Shimadzu Corporation
• Hitachi, Ltd.
• Bruker
• Oxford Instruments plc
• Zeiss International

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Life Science Tools market

• Technology
  • Genomic Technology
  • Proteomics Technology
  • Cell Biology Technology
  • Other Analytical & Sample Preparation Technology
  • Lab Supplies & Technologies
• Product
  • Cell Culture Systems & 3D Cell Culture
    • Instrument
    • Consumables
    • Cell & Tissue Culture Services
  • Liquid Chromatography
    • Instrument
    • Consumables
    • Services
  • Mass Spectrometry
    • Instrument
    • Consumables
    • Services
  • Flow Cytometry
    • Instrument
    • Consumables
    • Services
  • Cloning & Genome Engineering
    • Kits, Reagents, and Consumables
    • Services
  • Microscopy & Electron Microscopy
    • Instrument
    • Consumables
    • Services
  • Next Generation Sequencing
    • Instrument
    • Consumables
    • Services
  • PCR & qPCR
    • Instrument
    • Consumables
    • Services
  • Nucleic Acid Preparation
    • Instrument
    • Consumables
    • Services
  • Nucleic Acid Microarray
    • Instrument
    • Consumables
    • Services
  • Sanger Sequencing
    • Instrument
    • Consumables
    • Services
  • Transfection Devices & Gene Delivery Technologies
    • Equipment
    • Reagents
  • NMR
    • Instrument
    • Consumables
    • Services
  • Other Separation Technologies
    • Instrument
    • Consumables
    • Services
  • Other Products & Services
    • Antibody Assays
    • General Supplies
    • Others
      • Instrument
      • Consumables
      • Services
• End-use
  • Government & Academic
  • Biopharmaceutical Company
  • Health Care
  • Industry
  • Others

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Objectives of the Study

• To define, describe, and forecast the Life Science Tools market based on type, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
• To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
• To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Life Science Tools market

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