Life Science Instruments & Reagents Market Size, Share, and Industry Analysis, By Type (Instruments and Reagents), By Application (Commercial, Clinical, Academic, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Life Science Instruments and Reagents Market REPORT OVERVIEW

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The global life science instruments & reagents market size was USD 70190 million in 2021 and market is projected to touch USD 127059.2 million by 2031, at a compound annual growth rate (CAGR) of 6.1% during the forecast period.

Life sciences reagents are chemicals or mixtures that are employed in chemical reactions to track and detect changes. To ascertain a disease's underlying aetiology, medical researchers examine this data. Chemical reactions employ analytical and life science reagents to quantify, find, or study other compounds.  Pharmaceutical, biotechnology, life science, and healthcare sectors all depend on life science reagents. Due to the rise in the use of life science reagents in in vitro diagnostics for the diagnosis of numerous chronic and infectious diseases, the global life science instruments & reagents market is anticipated to experience rapid expansion during the forecast period. Life science instruments & reagents are also used to design treatments, forecast how diseases will develop, and assess how well they are working.

COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement

The need for life science instruments & reagents is increasing due to the COVID-19 pandemic, which will drive the market's expansion. A certain infectious disease called COVID-19 has been spreading uncontrollably around the world. The growing number of COVID-19 instances is driving up the demand for tests and various sorts of research that need reagents, which is driving the market under study towards expansion. Furthermore, the market under consideration is anticipated to rise over the course of the forecast period due to the widespread usage of different agents in vaccine research and development.

LATEST TRENDS 

"Increasing Geriatric Population to Stimulate Market Development "

The lifespan of the world's elderly population is increasing as a result of developments in the health care and life sciences sectors, improvements in public health policies, and a decline in infectious diseases that can be fatal in developed nations. Globally, the elderly population is expanding more quickly than the youth. The elderly population and those with chronic illnesses including diabetes, respiratory conditions, and cancer frequently need medical tests like blood tests and urine tests as part of preventive health care. During the forecast period, this is anticipated to boost the life science instruments & reagents market growth.

Life Science Instruments and Reagents Market SEGMENTATION 

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• By Type

Based on type; the market is divided into Instruments and Reagents.

• By Application

Based on the application; the market is divided into Commercial, Clinical, Academic, and Others.

DRIVING FACTORS

"Technological Advancements to Aid Market Expansion "

The increased frequency of infectious disorders and technical developments in the life sciences and biotechnology industries are some of the reasons boosting market expansion. Viruses, parasites, and other pathogenic microbes are to blame for the high occurrence of infectious disorders. These illnesses can be passed from one person to another either directly or indirectly. If precautions are not taken, they are easily spread and highly transmittable. In many impoverished and underdeveloped nations, these diseases can be fatal due to a lack of healthcare infrastructure and facilities.

"R&D Activities to Foster Industry Progress "

The expansion of the global life science reagent market is anticipated to be driven by an increase in product launches for reagents to support various sorts of diagnostic testing and research purposes. For instance, to increase the Nadia Instrument offering, single cell technologies company Dolomite Bio introduced a new scRNA-Seq reagent kit in March 2019.

RESTRAINING FACTORS

"Harmful Effects to Hinder Market Advancement "

The high cost of reagents and the strict regulatory environment serve as roadblocks to market expansion.

Life Science Instruments and Reagents Market REGIONAL INSIGHTS 

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"Increasing patient Pool to Foster Market Advancement in North America "

North America holds the largest part of the global life science instruments & reagents market share. This is due to the region's abundance of biotechnology and pharmaceutical firms. Due to the reagents' widespread use in all types of research—diagnostic, therapeutic, drug development, and other—the U.S. is the nation that is most impacted globally. Due to the fact that the patient population in North America is growing relative to other nations, the demand for the same will be substantially larger.

Due to factors like early adoption of cutting-edge technology, rising funding for medical research, rising healthcare spending, and a supportive regulatory framework, Asia Pacific is expected to develop at a double-digit CAGR during the projection period.

KEY INDUSTRY PLAYERS

"Innovative Creations by Manufacturers to Increase Market Growth"

The life science instruments & reagents market is competitive and fragmented, with a number of significant companies. A select number of the big firms presently control the majority of the market in terms of market share.

List of Market Players Profiled

• Thermo Fisher Scientific (U.S.)
• Merck (U.S.)
• Danaher (U.S.)
• GE Healthcare (U.S.)
• BD (U.S.)
• Roche (Switzerland)
• Agilent Technologies (U.S.)
• BioMerieux (France)
• Bio-Rad Laboratories (U.S.)
• PerkinEkmer (U.S.)
• Waters (U.S.)
• Bruker (U.S.)
• Shimadzu (Japan)
• Abcam (U.K.)

REPORT COVERAGE

This assessment conveys a report with getting evaluations that consider the portrayal freed from the affiliations that exist in the market influencing the focusing in on a time span. The report offers a sensible procedure for driving associations with their strong appearance structures, market risk, and late new developments. With the help of point-by-point research done, it offers a full-scale assessment by looking at the parts like division, expected open segments, present day refreshes, plans, improvement, size, shares, drivers, blocks, and others. This assessment can be changed supporting through the focal people and possible assessment of market parts changes.