Pune, India, March 09, 2023 (GLOBE NEWSWIRE) -- The life science tools market size is rising due to the growing demand for diagnostic tests for infectious diseases. Furthermore, the rise in digitalization and growing adoption of technological advancements create opportunities for businesses to expand quickly. Fortune Business Insights™ has examined these responses in a research report titled, “Life Science Tools Market Size, Share & Industry Analysis By Product Type (Instruments, Consumables, Services), By Technology (PCR, Sanger Sequencing, Separation Technologies, Flow Cytometry, Nucleic Acid Microarray, Mass Spectrometry), By Application (Proteomics Technology, Genomic Technology, Cell Biology Technology, Others), By End-user (Research Laboratories, Diagnostic Laboratories) And Regional Forecast 2023-2030”
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historical Data for | 2019 to 2021 |
Key Takeaways:
The life science tools market refers to the industry that provides equipment, reagents, software, and services for life science research and development. Here are some key takeaways regarding this market:
- The global life science tools market is expected to continue to grow in the coming years due to factors such as increasing government funding for life science research and the rise in prevalence of chronic diseases.
- The market is highly competitive, with numerous players offering a wide range of products and services.
- Some of the key players in the market include Thermo Fisher Scientific, Agilent Technologies, Bio-Rad Laboratories, Illumina, and Qiagen.
- Key product segments in the market include molecular biology reagents, cell biology reagents, labware, and analytical instruments.
- North America is currently the largest market for life science tools, with Europe and Asia Pacific also experiencing significant growth.
Drivers & Restraints-
Growing Trend for Genomic Technologies to Promote Investment
The trend for life science tools is fueled as genomic technologies are used to understand and contribute to developing new diagnostics procedures for various diseases. Another reason driving the life science tools market growth is the growing adoption of digital instruments by life science tools companies in combating the virus. Meanwhile, the high costs associated with the technologies and increased competition from other industries could hinder growth.
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Segments-
Based on technology, the market is segregated into nucleic acid microarray, separation technologies, sanger sequencing, PCR, mass spectroscopy, and flow cytometry. In terms of product type, the industry is divided into consumables, services, and instruments. On the basis of application, the industry is divided into cell biology technology, genomic technology, proteomics technology, and others. With respect to end-users, the market is bifurcated into diagnostics laboratories and research laboratories. The market is categorized into the Middle East & Africa, Europe, North America, Latin America, and the Asia Pacific in terms of region.
Report Coverage-
Secondary and primary sources are used to get a detailed overview of the study in a prominent way. The report's context also considers the qualitative and quantitative approaches to achieve a detailed analysis. Meetings with the upper management, such as the board of directors and employees, have contributed to thoroughly recognizing the industry in the best possible way. For secondary resources, various press releases and journals are used to fetch the details of the industry. The report also includes a COVID-19 analysis to boost the market coverage.
Regional Insights
Investments in technologies Encourage Growth in North America Market
North America life science tools market share is expected to lead from the front over the forecast period. Also, rising investment in pharmaceutical and biopharmaceutical industries, new product launches and the presence of major players in the industry could spur the market’s growth. Another reason the product demand will grow is the shifting trend for technological advancements to diagnose many infectious diseases.
The Asia Pacific is anticipated to contribute significantly during the forecast period due to investments in the development of cutting-edge diagnostic methods and technological progress. Additionally, various large populations and focus on government initiatives in the technologies are expected to drive the market to grow rapidly.
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Competitive Landscape
Stakeholders Concentrate on Technical Developments to Penetrate Market
Leading companies, such as BioTools Innovator introduced life science tools to get a competitive edge in the marketplace. Major industry players are expected to invest in product launches, partnerships and mergers & acquisitions to get an additional lead. Developments in the business include:
- March 2021: BioTools Innovator announced the life science tools to improve human health.
- August 2021: Agilent technologies developed a COVID-19 severity security method to diagnose and recover patient health.
A List of Prominent Companies in the Market:
- Thermo Fisher Scientific Inc., (U.S.)
- Danaher Corporation (U.S.)
- Hitachi Ltd (Japan)
- Oxford Instruments plc (U.K.)
- Zeiss International (Germany)
- Shimadzu Corporation (Japan)
- Dickinson and Company (U.S.)
Market Segmentation:
By Product Type
- Instruments
- Consumables
- Services
By Technology
- PCR
- Sanger Sequencing
- Separation Technologies
- Flow Cytometry
- Nucleic Acid Microarray
- Mass Spectrometry
By Application
- Proteomics Technology
- Genomic Technology
- Cell Biology Technology
- Others
By End-user
- Research Laboratories
- Diagnostic Laboratories
By Geography
- North America (USA, Canada, Mexico)
- Europe (UK, Germany, France, Italy, Spain and the Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, South Korea, and the Rest of Asia Pacific)
- Latin America (Brazil, Argentina the Rest of Latin America)
- Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
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