PUBLISHER: The Business Research Company | PRODUCT CODE: 1619696
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619696
Life science reagents are specialized chemicals or biological substances used in laboratories and research settings to detect, measure, examine, or produce other substances during experiments. These reagents are essential in biological and chemical research, especially in fields like molecular biology, biochemistry, genetics, and pharmaceutical development.
The main types of life science reagents include chromatography reagents, molecular diagnostic reagents, clinical chemistry reagents, flow cytometry reagents, cell and tissue culture reagents, hematology and hemostasis reagents, microbiology reagents, and others. Chromatography reagents are specific chemicals used in chromatography to separate, identify, and analyze the components of a mixture. Their applications encompass protein synthesis and purification, gene expression analysis, DNA and RNA analysis, drug testing, and more. These reagents are utilized by various end users, including hospitals and diagnostic laboratories, commercial and contract research organizations, academic and research institutions, and manufacturers.
The life science reagents market research report is one of a series of new reports from The Business Research Company that provides life science reagents market statistics, including life science reagents industry global market size, regional shares, competitors with a life science reagents market share, detailed life science reagents market segments, market trends and opportunities, and any further data you may need to thrive in the life science reagents industry. This life science reagents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The life science reagents market size has grown strongly in recent years. It will grow from $48.86 billion in 2023 to $52.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth during the historic period can be attributed to several factors, advancements in molecular biology, increased research funding, a rising prevalence of chronic diseases, the emergence of personalized medicine, and global health crises.
The life science reagents market size is expected to see strong growth in the next few years. It will grow to $69.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth during the forecast period can be attributed to several factors, the aging population and the prevalence of chronic diseases, advancements in diagnostic technologies, increased spending on research and development, the adoption of high-throughput screening methods, and adherence to regulatory and quality standards. Major trends expected to shape this period include a growing demand for high-purity reagents, the rise of automation and high-throughput technologies, a focus on sustainability and green chemistry, the integration of artificial intelligence and machine learning, and an expansion in life science research.
The life science reagents market is projected to grow due to the increasing prevalence of infectious diseases. Infectious diseases, caused by pathogens such as bacteria, viruses, fungi, or parasites, can spread through person-to-person contact or environmental sources. Factors contributing to the rise in infectious diseases include increased global travel, urbanization, climate change, and antibiotic resistance. Life science reagents play a crucial role in diagnosing, researching, and developing treatments for these diseases by facilitating the detection and analysis of pathogens. For example, the Centers for Disease Control and Prevention (CDC) reported in March 2024 that the number of tuberculosis (TB) cases in the United States rose to 8,331 in 2022, up from 7,870 in 2021, marking a 5.9% increase. This upward trend underscores the growing need for life science reagents.
Leading companies in the life science reagents market are concentrating on creating innovative solutions, such as customizable light settings, to optimize experimental conditions, enhance research accuracy, and advance the study of light-dependent organisms. Customizable light settings allow for the adjustment of light intensity, color, and duration to suit specific experimental or environmental requirements. For example, in June 2023, Beckman Coulter Life Sciences, Inc., a U.S.-based manufacturer specializing in life sciences and laboratory equipment, introduced the microbioreactor light array module to aid in the cultivation of photosynthetically active microalgae and microorganisms. The Light Array Module (LAM) for the BioLector XT Microbioreactor is specifically tailored for light-dependent organisms, offering customizable light settings within the 400-700 nm spectrum. Controlled by 16 different LED types, it delivers a high irradiance of up to 3500 μmol/m2/s. Additionally, the BioLector XT supports the growth of microbial, fungal, and algal species, with real-time monitoring of biomass, pH, dissolved oxygen, and fluorescence.
In December 2023, Danaher Corporation, a US-based life sciences company, acquired Abcam Ltd. for $5.7 billion. This acquisition aims to expand Danaher's product portfolio, strengthen its market presence, and accelerate innovation within the life sciences field. Abcam Ltd., a UK-based biotechnology company, offers a diverse range of life science reagents.
Major companies operating in the life science reagents market are Thermo Fisher Scientific Inc., Danaher Corporation, Merck Group, Becton Dickinson and Company, Agilent Technologies Inc., PerkinElmer Health Sciences Inc, Bio-Rad Laboratories Inc., Bio-Techne Corp, Promega Corporation, Genscript Biotech Corporation, Sino Biological Inc., New England Biolabs Inc., Kaneka Corporation, OriGene Technologies Inc., SeraCare Life Sciences Inc., Cayman Chemical Company, Takara Bio USA Inc., Cell Signaling Technology, Rockland Immunochemicals Inc., Santa Cruz Biotechnology Inc., Creative Diagnostics, HyTest Ltd, Geno Technology Inc., MyBiosource Inc., Fritz Hoffmann-La Roche, Enzo Life Sciences Inc.
North America was the largest region in the life science reagents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the life science reagents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the life science reagents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The life science reagents market consists of sales of specialized chemicals, enzymes, antibodies, nucleotides, buffers, and cell culture media. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Life Science Reagents Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on life science reagents market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for life science reagents ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The life science reagents market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.