New report: Life science tools market to reach over $80B by 2016

The life science tools market will reach over $80 billion by 2016, according to a new report on companiesandmarkets.com. The life science tools market has shown steady growth over the last couple of years despite the economic downturn. The life science tools market is currently valued at more than $42 billion and is projected to increase at compound annual growth rate (CAGR) of 13.6% to reach approximately $81 billion in 2016.

Reagents and tools for DNA and RNA research are currently worth $27 billion and expected to increase at a 12.2% compound annual growth rate (CAGR) to reach $48 billion in 2016. Cell biology reagents represent at least 30% of the life science research tools market. This particular segment is currently estimated at $10 billion and predicted to at least double its value in the next 5 years to reach $24 billion, a 19.1% compound annual growth rate (CAGR).

Life Science Tools and Reagents: Global Markets

Reagents and research tools used in the life sciences are essential parts of routine laboratory research. The discovery of the PCR (polymerase chain reaction) is one of the best examples where a technical method opened a new era of molecular biology, and its significance was acknowledged with a Nobel Prize in 1993.

While pharmaceuticals need more financial leverage and time to develop successful drugs, reagent development is less risky. Reagents companies develop various strategies to grow and expand their activities, offering new outlooks on biotechnology and pharmaceutical market development. In addition, scientific trends, government policies, and the economy in general affect this industrial market differently as compared to pharmaceutical and drug discovery ventures. For example, the launch of new reagents or products is not affected by strict FDA guidelines.

This report highlights the main segments of the life science tools and reagents industry and its major market participants, including current and future market trends. Drivers and challenges in each segment of this industry will be discussed in detail, including forecasts for the next 5 years.