Life Science Reagents Market - Snapshot
The global life science reagents market is witnessing strong growth due to high prevalence and rise in incidence of chronic, acute, and infectious diseases across the globe. The market was valued at US$ 35.00 Bn in 2017 and is projected to expand at a CAGR of 7.0% from 2018 to 2026 to reach US$ 67.00 Bn by 2026. The global market is driven by technological advancements in the life science and health care industries, rapidly growing biopharmaceutical industry, and large geriatric population requiring frequent clinical diagnostic tests.
Life science reagents are an integral part of the pharmaceutical, biotechnology, life science, and health care industries. These reagents have broad applications in in vitro diagnostics for the diagnosis of various chronic as well as infectious diseases, prediction of disease course, framing the treatment, and monitoring the effectiveness of the therapy. These reagents are widely used in the life science industry for isolation, separation, purification, and up to a certain extent amplification of the biological as well as chemical molecules from the tests samples.
High prevalence and rise in incidence rate of chronic and infectious diseases across the globe are projected to be the key drivers of the global life science reagents market during the forecast period. The emergence and outbreak of various infectious diseases have created challenges as well as new opportunities for researchers to develop new diagnostic tools and tests for early diagnosis and prevention of these diseases. According to the World Health Organization (WHO), as of October 2017, around 71 million people across the world were estimated to have hepatitis C infection. The WHO also stated that 36.7 million people were affected with HIV across the globe. Various chronic diseases such as chronic respiratory diseases (CRD), diabetes, chronic kidney diseases (CKD), cancer, stroke, and neurological disorders are the leading causes of disability and mortality across the globe. Demand for life science reagents largely depends on the growth of the life science and health care industries. Rapid growth of the life science industry has been observed in the emerging markets. This is projected to be one of the key drivers of the life science reagents market. Biopharmaceuticals is one of the fastest growing segments in the pharmaceutical industry, expanding at a CAGR of 8%, nearly double that of the overall pharmaceutical industry. Wide applications of life science reagents in the biopharmaceutical industry for the development of various biomarkers, production of biologic drugs, drug discovery, and therapeutic drug monitoring are factors likely to drive demand for life science reagents during the forecast period.
Development of tests for diagnosis of viral structural changes and new viral epidemics present significant opportunities in the global life science reagents market during the forecast period. For instance, in April 2017, Siemens Healthineers received an advance sum of US$ 8.9 Mn to develop immunoassays for Zika virus from the U.S. Department of Health and Human Services. Moreover, economic development coupled with rise in disposable income and increase in awareness are gradually shifting attention of the leading health care institutions toward countries in Asia Pacific and Latin America. Moreover, increased investments by the leading private players in the health care and life science industries in countries such as Brazil, India, China, and South Korea owing to favorable regulatory policies represents a potential business opportunity in these regions.
The global life science reagents market has been segmented based on product, end-user, and region. In terms of product, the global market has been classified into chromatography reagents, molecular diagnostic reagents, immunoassay reagents, clinical chemistry reagents, flow cytometry reagents, cell & tissue culture reagents, hematology & hemostasis reagents, microbiology reagents, and others. The others segment includes electrophoresis reagents, investigational markers, and histology & cytology reagents. The immunoassay reagents segment dominated the global life science reagents market, accounting for over 30% share in 2017. The segment is projected to expand at a moderate growth rate during the forecast period. However, the segment is poised to lose market share by 2026. The microbiology reagents segment is projected to expand at the highest CAGR during the forecast period. The segment is projected to gain market share by the end of 2026.
In terms of end-user, the global life science reagents market has been divided into hospitals & diagnostics laboratories, commercial & contract research manufacturers, academic & research institutes, and others. The others segment includes blood banks and forensic laboratories. The hospitals & diagnostic laboratories segment accounted for leading share of the global market and the segment is projected to continue to dominate the market during the forecast period. Rapidly increasing number of health care institutions in the emerging countries, large test volume for various diseases, and expansion of laboratory services has contributed to the dominant share of the segment in 2017. The commercial & contract research manufacturers segment held the second largest share of the global life science reagents market in 2017.
Geographically, the global life science reagents market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the global life science reagents market, accounting for 35% share in 2017. Europe held the second largest share of the global market in 2017. Well-established health care infrastructure, rapidly increasing geriatric population, and large base of pharmaceutical and biotechnology industries has led to dominant shares of North America and Europe. The market in Asia Pacific is projected to expand at the highest CAGR during the forecast period owing to rise in foreign direct investment in the life science industry, rapidly increasing number of hospitals and diagnostic laboratories in the region, and large patient population with chronic and infectious diseases.
The global life science reagents market is fragmented, with large number of companies accounting for majority share in respective regions. Major players operating in the global market include F. Hoffmann-La Roche Ltd., Danaher Corporation, Abbott Laboratories, and Siemens Healthineers. Manufacturers are adopting strategies of mergers & acquisitions with parallel companies to strengthen their product portfolio and geographic reach. Other prominent players operating in the global market include Becton, Dickinson and Company, Agilent Technologies Inc., Waters Corporation, Ortho Clinical Diagnostics, bioMérieux SA, Sysmex Corporation, and DiaSorin S.p.A.
Life Science Reagents Market - Overview
This report on life science reagents market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in manufacturing, commercialization, providing life science reagents, and new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments considered in the scope of the study. This section also provides the overall information and data analysis of the global life science reagents market regarding leading market segments based on product, end-user, and region.
The global life science reagents market is divided into three segments: product, end-user, and region. Based on product, the market has been further segmented into nine major segments: chromatography reagents, molecular diagnostic reagents, immunoassay reagents, clinical chemistry reagents, flow cytometry reagents, cell & tissue culture reagents, hematology & hemostasis reagents, microbiology reagents, others. In terms of end-user, the market has been segmented into hospitals and diagnostics laboratories, commercial & contract research manufacturers, academic & research institutes, and others.
Each of the market segments have been extensively divided based on market related factors such as rise in incidence rate and prevalence of acute, chronic, and infectious diseases, technological advancements in health care diagnostics, emerging trends in health care, pharmaceutical, and biotechnology industries. Moreover, historical year-on-year growth has also been taken into consideration while estimating the market size. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2016 to 2026. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2018 to 2026, considering 2017 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, opportunities, and key trends that have a strong impact on the life science reagents market and could influence it in the near future. Market attractiveness analysis has been provided in an overview section to explain the intensity of competition in the market across different regions. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. These factors are likely to help market players to take strategic decisions to strengthen their positions and expand their shares in the global life science reagents market.
Geographically, the life science reagents market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size and forecast for each of these regions has been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The report also provides market size and forecast for major countries with each of the products and end-users in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global life science reagents market.
Major players operating in the global life science reagents market are F. Hoffmann-La Roche AG, Danaher Corporation, Abbott Laboratories, Siemens Healthineers (Siemens AG), Thermo Fisher Scientific Inc., Merck KGaA, Becton, Dickinson and Company, Agilent Technologies Inc., Waters Corporation, Ortho Clinical Diagnostics (a part of Carlyle Group), bioMérieux SA, Sysmex Corporation, and DiaSorin S.p.A.
The global life science reagents market is segmented as follows:
Global Life Science Reagents Market, by Product
- Chromatography Reagents
- Molecular Diagnostic Reagents
- Immunoassay Reagents
- Clinical Chemistry Reagents
- Flow Cytometry Reagents
- Cell & Tissue Culture Reagents
- Hematology & Hemostasis Reagents
- Microbiology Reagents
- Others (Histology & Cytology Reagents, Electrophoresis Reagents, Investigational Markers etc.)
Global Life Science Reagents Market, by End-user
- Hospitals and Diagnostics Laboratories
- Commercial & Contract Research Manufacturers
- Academic & Research Institutes
Global Life Science Reagents Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa