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Life science reagents plays a vital role in testing and manufacturing of cell based products and pharmaceutical products and other healthcare products. High investments in research have led to initiation of various clinical trials to innovate novel pharmaceutical products, thus promoting demand for these products in coming years.
Paradigm shift from treatment to wellness in healthcare industry has set up a trend of early diagnosis has developed effective cures which has become extremely important to beat increasing rate of viral epidemics along with improved patient mortality rates. Growing adoption of analytical instruments to reduce diagnosis time and early stage diagnosis will further accelerate market growth. Moreover, Medical agencies and research institutions are carrying out rigorous efforts to increase life expectancy along with inclusion of advance testing instruments, thereby promoting demand for these products.
The report analyses the global life science reagent market based on product, application, end use and geography.
Various product studied are segmented into cell & tissue culture, chromatography, clinical chemistry, flow cytometry, hematology & hemostasis reagents, immunoassay, microbiology, molecular diagnostic. Immunoassay reagent will observe robust gains during the foreseeable timeframe owing to its wide usage of immunoassay methods in the areas of pharmaceutical analysis supported by development of unique immune analytical reagents for effective analysis, thus promoting market growth. Growing need for immunoassay methods for effective diagnosis to treat chronic diseases has led to consumption of huge technical instruments developing need for these reagents thus, driving positive impact on life science reagent demand.
Furthermore, application studied in the market includes protein synthesis & purification, gene expression, DNA & RNA analysis, drug testing. Advancements in medical instruments supported by increasing adoption of automation in healthcare will propel demand for life sciences reagents in this application. Development of drug testing methods owing to innovation of novel drug with driven burden of diseases and increasing consumer spending on pharma products will drive demand for life science reagent.
Various end-user considered in this study includes academic and research institutes, commercial and contract research manufacturers, hospitals & diagnostic laboratories. Growing population has led to construction and development of various healthcare facilities and laboratories for effective diagnosis result in new hospitals and clinics, thus promoting demand for life science reagents.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America led by U.S. life science reagent market owing to high healthcare spending supported by growing prevalence of chronic diseases will favour regional growth. According to Central Disease Control and Prevention (CDC), these diseases drive over 3.5 trillion if the annual healthcare cost in the U.S., along with this Fight Chronic Disease Organization states that percentage of persons suffering with chronic disease in America is over 49.2% by 2030. Furthermore presence of key players in this region engaged in development of innovate products with high R&D expenditures will escalate market growth.
The key competitors of this market Abbott Laboratories, Becton, Dickinson and Company, BioMerieux SA, Danaher Corporation, DiaSorin S.p.A, F. Hoffmann-La Roche Ltd, Merck KGaA, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Inc.
The report analyses the global life science reagents market based on type, application, end user and geography. Various product studied are segmented into cell & tissue culture, chromatography, clinical chemistry, flow cytometry, hematology & hemostasis reagents, immunoassay, microbiology, molecular diagnostic. Furthermore, application studied in the market includes protein synthesis & purification, gene expression, DNA & RNA analysis, drug testing. Various end-user considered in this study includes academic and research institutes, commercial and contract research manufacturers, hospitals & diagnostic laboratories. The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan, Australia and Rest of Asia Pacific. The Rest of the world includes Latin America and Middle East & Africa.
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