BCC Research Study Projects Steady Growth with a 4.6%
CAGR, Driven by Advances in COVID-19 Diagnostics and Other
Innovations
BOSTON, July 24,
2024 /PRNewswire/ -- Discover how cutting-edge
technologies and essential laboratory reagents are driving
breakthroughs in medical research, drug development, and
personalized medicine across the globe.
"Life Science Tools and Reagents" refer to the essential
instruments and substances used by scientists and researchers to
study living organisms and their processes. These tools include
equipment like microscopes for viewing tiny cells, centrifuges for
separating different components of a sample, and DNA sequencers for
decoding genetic information. Reagents are the chemicals and
biological materials, such as enzymes and antibodies, that
scientists use to conduct experiments and analyze results.
Together, these tools and reagents are fundamental in advancing our
understanding of biology, developing new medicines, and diagnosing
diseases.
"According to the latest BCC research study, the demand for
Life Science Tools and Reagents: Global Markets including
COVID-19 diagnostics was valued at $59.4
billion in 2023. This market is expected to grow from
$53.2 billion in 2024 to reach
$66.5 billion by the end of 2029, at
a CAGR of 4.6% during the forecast period of 2024-2029".
This report examines the market for life science tools and
reagents, highlighting top companies, their earnings, products, and
recent developments. It covers the competitive landscape, market
drivers, challenges, and opportunities, and provides current and
future market sizes. The reagents analyzed include antibodies,
ELISA kits, protein reagents, and probes. Instruments studied
include hybridization systems, PCR machines, Western blotting, and
ELISA instruments. The report also breaks down markets by region
(North America, Europe, Asia-Pacific, and the Rest of the World) and
application.
Some Interesting Facts about Life Science Tools and
Reagents
- There are many smaller companies in the market, but they don't
contribute much to the overall revenue.
Factors contributing to this growth include:
- Increasing investments in R&D. means that more funds
and resources are being allocated to research and development
activities. This allows companies and organizations to innovate,
develop new products, improve existing technologies, and advance
scientific knowledge. It often leads to new discoveries,
technological advancements, and improved solutions in various
fields.
- New and innovative diagnostic pathways.: means coming up
with new and creative ways to diagnose diseases and medical
conditions. These methods use advanced technologies and techniques
to find health problems more quickly and accurately. This could
involve new kinds of medical tests, advanced imaging methods, or
different ways to study biological information. The goal is to
improve how we care for patients and make healthcare more
effective.
- Prevalence of chronic diseases.: refers to how common
long-lasting health conditions are within a population. These
diseases typically persist over a long period and can include
conditions like diabetes, heart disease, asthma, and arthritis.
Understanding their prevalence helps healthcare professionals and
policymakers assess the impact on public health and plan
appropriate interventions and treatments.
- Broadening range of applications.: refers to expanding
the variety of ways a particular technology, product, or method can
be used. It implies finding new uses or adapting existing ones to
different fields or purposes. This expansion often leads to
increased versatility, effectiveness, and potential benefits across
various industries or areas of study.
Request a Sample Copy of the Life Science
Tools and Reagents: Global Markets
Report
Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2023
|
Forecast Period
considered
|
2024-2029
|
Base year market
size
|
$59.4
Billion
|
Market Size
Forecast
|
$66.5
Billion
|
Growth Rate
|
CAGR of 4.6% from 2024
to 2029
|
Segment
Covered
|
By Type, Application,
and Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and Rest of the World (RoW)
|
Key Market
Drivers
|
• Increasing
investments in R&D
• New and
innovative diagnostic pathways
• Prevalence of
chronic diseases
• Broadening
range of applications
|
this report on global market for life science tools
and reagents: global markets provide comprehensive insights and
analysis, addressing the following key questions:
1. What is the projected market size and growth rate of
the market?
The global market for life science tools and
reagents and COVID-19 diagnostics market is valued at $59.4 billion in the year 2023 and is expected to
reach $66.5 billion by 2029, at a
growth rate of 4.6% from 2024 to 2029.
2. What are the key factors driving the growth of the
market?
- Growing field of diagnostic
- Rising prevalence of infectious diseases
- Increasing investment in research and development
3. What segments are covered in the market?
The life science tools and reagents market has
been studied by type, by region and by application.
4. By Application, which segment will dominate the
market by the end of 2029?
The genomics segment will continue dominating
the life science tools and reagents market in 2029.
5. Which region has the highest market share in the
market?
North America
holds the highest share in the market.
Some of the Key Market Players Are:
- BD
- BIO-RAD LABORATORIES INC.
- DANAHER
CORP.
- F. HOFFMANN-LA ROCHE LTD.
- MERCK KGAA
- PROMEGA CORP.
- QIAGEN REVVITY
- TAKARA BIO
INC.
- THERMO FISHER SCIENTIFIC INC.
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touch with info@bccresearch.com.
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