As per Precedence Research, the global life science reagents market size is predicted to garner around USD 90.05 billion by 2032 and is expanding at a CAGR of 6.10% over the forecast period 2023 to 2032.
As per Precedence Research, the global life science reagents market size is predicted to garner around USD 90.05 billion by 2032 and is expanding at a CAGR of 6.10% over the forecast period 2023 to 2032.
The life science reagents market size was valued at USD 50 billion in 2022, grew to USD 52.85 billion in 2023. North America led the global market with the major market share in 2022.
Market Overview
Life science reagents serve as essential components in chemical reactions, persistently observing and documenting alterations. Comparable to thorough investigators, these specialized substances play a crucial role in aiding medical researchers to discern the origins of diseases. Functioning with precision, life science reagents are adept at measuring, detecting, and scrutinizing various substances. Their analytical capabilities give researchers vital information, contributing to a comprehensive understanding of specific diseases' underlying factors.
Life science reagents are compounds frequently utilized in chemical reactions to observe changes and draw conclusions. They play a crucial role in developing new reactants and identifying the causes of illnesses. Additionally, these reagents detect, examine, or measure various substances in chemical reactions. Life science reagents are essential in the biotechnology, pharmaceutical, and life science industries. They are prominently used in creating test kits, solutions, various assays, and culture media. Moreover, these reagents find applications in chromatography and spectroscopy processes.
Enzymes, antibodies, nucleic acids, proteins, buffers, and standards commonly use reagents. These chemicals can be bought from retailers, academic institutions, and biotech companies. The demand for new and innovative methods for detecting and treating diseases drives the life science reagents market. The market is growing due to increased research and development spending by pharmaceutical and biotechnology companies and a rise in genomics and proteomics research projects.
Asia Pacific emerged as an up-and-coming market. Notably, the region boasts a significant presence of major CROs (Contract Research Organizations) and CMOs (Contract Manufacturing Organizations). The substantial growth in biotechnology companies and the increasing number of diagnostic laboratories are poised to contribute to the region's heightened demand for life science reagents. Furthermore, government initiatives to attract foreign direct investments (FDIs) incentivize pharmaceutical companies to expand their production facilities in Asia Pacific. This strategic expansion will propel the life science reagents market in the coming forecast period.
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Regional Stance:
In terms of revenue share, North America held the highest share in 2022. The biopharmaceutical business is expanding quickly in North America, and contract research organizations are also becoming more prevalent and growing. This is one of the main reasons why the use of life science reagents has increased. The demand for life science reagents is also anticipated to increase as a result of increased government backing for the biopharmaceutical industry. The US's growing need for the newest medications and diagnostics, along with the rising incidence of chronic illnesses, have significantly fueled the North American market's expansion.
Asia Pacific, on the other hand, is anticipated to be the most advantageous market during the projected decade. Asia Pacific is known for having a large number of CROs and CMOs. It is anticipated that the region's rapidly expanding diagnostic labs and biotechnology businesses will increase demand for life science reagents. The pharmaceutical industry is expanding its manufacturing facilities in the region as a result of growing government initiatives to draw foreign direct investment (FDI), and this will accelerate the growth of the life science reagents market over the forecast period.
Key Insights
- The immunoassay segment had the most revenue share in 2022 and is expected to continue to lead the market during the forecast period.
- In terms of revenue, the hospitals & diagnostic labs segment led the global market in 2022.
- Over the course of the projected period, contract research organizations are anticipated to increase at the quickest rate.
Life Science Reagents Market Scope
|
Report Highlights |
Details |
|
Market Size |
USD 90.05 Billion by 2032 |
|
Growth Rate |
CAGR of 6.10% From 2023 to 2032 |
|
Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
|
Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
|
Segments Covered |
Product, Application, Region |
|
Companies Mentioned |
Hoffmann-La Roche, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Abbott, BioMerieux SA, Merck KGaA, Danaher Corporation, Siemens Healthineers, DiaSorinSpA, Sysmex Corporation |
Growth Factors
- The global life science reagents market is witnessing remarkable growth, primarily fueled by crucial factors that demand our attention. A significant driver is the increasing prevalence of infectious diseases like Hepatitis A, HIV, Zika, and Dengue, creating a heightened need for advanced life science reagents. The ease with which these diseases can be transmitted emphasizes sophisticated reagents' critical role in diagnostic practices and research endeavors.
- Furthermore, the robust growth of the biotechnology sector, marked by substantial investments in research and development, along with continuous technological advancements in the life science domain, serves as a pivotal force propelling the expansion of the market. The global upsurge in the biopharmaceutical industry also contributes substantially, amplifying the demand for top-notch reagents. In essence, this paints a dynamic landscape shaped by the ever-evolving challenges in healthcare, highlighting the indispensable role of life science reagents in addressing these global health concerns.
- Life science reagents are crucial in predicting disease progression, developing medications, and monitoring treatment effectiveness. The escalating focus and investments in pharmaceutical research and development from government and private sectors are poised to propel technological advancements and foster innovation. This creates a lucrative landscape for manufacturers of life science reagents, presenting promising business opportunities soon.
- The global growth of the life science reagents market is imminent, driven by their applications in healthcare diagnostics, forensic sciences, clinical research and development, personalized medications, and drug discovery. Advancements in biotechnology, life sciences, and molecular biology have yielded significant improvements, leading to a heightened demand for reagents, sera, biotechnology media, and biotechnology reagents. This underscores a clear trend towards increased reliance on life science reagents in various critical fields.
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Market Potential
North America is poised to dominate the global life science reagents market, driven by factors such as the growing elderly population and heightened prevalence of infectious diseases in the region. Recent data from the Centers for Disease Control and Prevention (CDC) reveals that a significant portion of Americans grapple with at least one chronic disease, with a notable proportion facing multiple chronic conditions. Chronic diseases, essential contributors to mortality and disability, underscore the critical need for advanced diagnostic tools in North America.
For instance, the Canadian Cancer Statistics report highlighted that a substantial number of Canadians were diagnosed with cancer. This emphasizes the urgency for effective diagnostic solutions, contributing to the region's increasing demand for life science reagents. This trend solidifies North America's position as a critical player in the global life science reagents market.
Contract research organizations (CROs) are anticipated to experience rapid growth in the life science reagents market due to increased investments by biotechnology and pharmaceutical companies in research activities. The expanding presence of CROs in developed and developing nations, particularly in endeavors related to new drug development and diagnostic tests, is expected to drive global demand for life science reagents.
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Industry Spotlight
- In June 2022, Exothera SA partnered with LogicBio Therapeutics and Polyplus-transfection SA to create an advanced AAV manufacturing platform that can scale seamlessly from 200 to 2,000 liters.
- In April 2022, H.U. Group Holdings Inc. and its subsidiary Fujirebio Holdings Inc. introduced Lumipulse Presto iTACT Tacrolimus, an in-vitro diagnostic reagent tailored for the automated chemiluminescence enzyme immunoassay system Lumipulse L2400.
- In June 2023, Merck invested in expanding production capacity at its Nantong site, reinforcing its commitment to delivering top-notch, highly purified reagents for quality control and testing. This move aligns with Merck's strategic focus on China and extends its partnership with Nantong Economic.
- In August 2023, Agilent Technologies Inc. unveiled a state-of-the-art Integrated Biology Center at Monash University in Malaysia. The center is dedicated to enhancing local capabilities for accelerated research and development in science. The grand opening coincided with Agilent's Academia-Industrial Day 2023, where esteemed guests from the research community were hosted.
Related Reports
- Primary Cell Culture Market: The global primary cell culture market size accounted for USD 6.28 billion in 2022 and it is expected to hit around USD 19.56 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 12.04% during the forecast period 2023 to 2032.
- 3D Cell Culture Market: The global primary 3D cell culture market size was estimated at USD 1.42 billion in 2022 and it is projected to hit around USD 5.29 billion by 2032, expanding at a CAGR of 14.1% during the forecast period 2023 to 2032.
- Process Chromatography Market: The global process chromatography market size was reached at USD 12.5 billion in 2022 and is projected to hit around USD 27.87 billion by 2032, poised to grow at a CAGR of 8.4% during the forecast period from 2023 to 2032.
Company Synopsis
- Becton
BD is a multinational medical technology company based in the United States. They specialize in manufacturing and selling medical devices, instrument systems, and reagents. Additionally, B.D. Offers consulting and analytics services in specific regions.
Becton Dickinson, a medical technology company, recently inaugurated a €4m research and development facility in Blackrock, Dublin. As part of its growth plans, an additional €30m investment will be directed towards expanding the manufacturing facility in Enniscorthy. These strategic initiatives are set to generate 85 new job opportunities.
- Merck KGaA
Merck operates in the healthcare, performance materials, and life sciences markets, with a global presence spanning Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa. The company is headquartered in Darmstadt, Hesse, Germany.
Israeli A.I. innovator Quris-AI has announced the expansion of its collaboration with Merck KGaA, Darmstadt, Germany. This comes after the success of their initial partnership that began in February 2022, focusing on a preclinical study to evaluate Quris-AI's BioAI Drug Safety Platform. The study demonstrated the platform's effectiveness in predicting potential drug toxicity, outperforming traditional in vitro and in vivo methods.
- Sysmex Corporation
Sysmex Corp is a medical device supplier specializing in researching, developing, manufacturing, and selling instruments, reagents, and software applications. Their products are designed to facilitate health checkups, treatment, and disease management.
Fujirebio Holdings, Inc. and Sysmex Corporation, based in Tokyo and Kobe, Japan, respectively, have entered into a Basic Agreement for Business Collaboration. The collaboration aims to enhance their partnership across various areas, including research and development, production, clinical development, and sales and marketing, specifically immunoassay.
Market Key Players:
- Hoffmann-La Roche
- Thermo Fisher Scientific Inc.
- Becton
- Dickinson and Company
- Abbott
- BioMerieux SA
- Merck KGaA
- Danaher Corporation
- Siemens Healthineers
- DiaSorinSpA
- Sysmex Corporation
Market Segmentation
By Product
- Molecular
- Cell Culture
- Chromatography
- Immunoassay
- Clinical Chemistry
- Microbiology
- Flow Cytometry
- Others
By Application
- Hospitals & Diagnostic Labs
- Academic Research & Institutes
- Contract Research Organizations
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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