According to a new market report published by Transparency Market Research "Life Science Reagents Market(Products- PCR Reagent Kits, Cell and Tissue Culture, Flow Cytometry, Electrophoresis, Chromatography, In-Vitro Diagnostic Reagents and Others; End Users- Commercial and Contract Manufacturers, Research and Academic Institutions, Clinical Laboratories, and Forensic Laboratories)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", the global life science reagents market was valued at USD 12.44 billionin 2012 and is expected to grow at a CAGR of 10.8% from 2013 to 2019, to reach an estimated value of USD 25.73 billion in 2019.
Being predominantly used in a wide range of analytical and manufacturing processes, reagents areone of the fastest moving and widely consumed products in the life science industry. Factors such as rise in the number of government initiatives for the growth of biotechnology industry and advancement in related technologies will have a tremendous impact on the growth of the life science reagents market.
Amongst the various typesof commercially available life science reagents, chromatography and in-vitro diagnostic reagents were the largest product segments in 2012, with a cumulative market share of more than 50% in the overall life science reagents market. In addition, the polymerase chain reaction (PCR) reagent kits market is expected to cannibalizethe market share of other product segments during the forecast perioddue to expansion of its application area from only commercial manufacturing to in-vitro diagnostics. It is expected that the global market for polymerase chain reaction (PCR) reagent kits will reach USD 4.26 billion in 2019 growing at a CAGR of 14.2% from 2013 to 2019.
Research and academic institutes from the largest set of consumers, by revenue, of life science reagents. Growth in research and development activities by biotechnology companies with an intention to introduce breakthrough technologies in the market has led to rise in consumption of life science reagents in related processes.
Geographically, North America dominated the global life science reagents marketin 2012 mainly due to the advantage of bigger patent repositorywith biotechnology companies based in this region. Factors that will drive future growthof the North American life science reagents market include existence of supportive economic base, highly developed research infrastructure, technological advancement and higher adoption rate of those technologies. However,countries in the Asia-Pacificregion such as China, Japan and India are expected to be potential markets with high prevalence of infectious diseases, development of healthcare infrastructure, aging of population resulting in rising incidencesof cardiac diseases, increasing government initiatives to boost the biotechnology industry in the respective countries and rapidly increasing awareness about disease diagnosis and prevention.
The global life science reagents market is characterized by the presence of a largenumber of market players. The matured market players intensively follow predatory business strategies such as acquisition of small market entrants with breakthrough technologies. Some of the key participants operating in this market includeAbbott laboratories, Agilent Technologies, bioMerieux, Life Technologies Corporation, Bio-Rad Laboratories, Inc., GE Healthcare, Merck Millipore, Sigma Aldrich Corporation and Lonza Group Ltd.
The global life science reagentsmarket is segmented as follows:
Life Science Reagents Market, by Product Type
- Polymerase chain reaction (PCR) reagent kits
- Cell and tissue culture reagents
- Flow cytometry reagents
- Electrophoresis reagents
- Chromatography reagents
- In-vitro diagnostic (IVD) reagents
Life Science Reagents Market, by End User
- Commercial and contract manufacturers
- Research and academic institutions
- Clinical laboratories
- Forensic laboratories
Life Science Reagents Market, by Geography
- North America
- Rest of the World (RoW)
Transparency Market Research