Acumen Research and Consulting, Recently Published Report on “Life Science Reagents Market Pipeline Review, Size, Share, Trends, Growth and Forecast 2019-2026”.
LOS ANGELES, June 25, 2019 (GLOBE NEWSWIRE) -- The global life science reagents market size is estimated to grow at CAGR above 7.4% over the forecast time frame 2019 to 2026 and reach the market value around USD 69 billion by 2026.
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In the production and testing of pharmaceuticals, cell-based products and several other health alternatives, life science reagents play a critical part. The development of the worldwide market for life sciences is due to the rise in the worldwide geriatric population, which is more likely to suffer from distinct kinds of infectious illnesses. In addition, the development in the worldwide life-science reagents market is boosting incidences of infectious disease and technological developments in the life sciences sector.
In 2018, North America dominated the world's market for life science reagents, and this trend will remain in the forecast period as well. This is ascribed to the increased research and development operations in the region, which drive a number of research operations to demand for life science reagents.
The rise in local producers, however, which creates price stress on the market is likely to hamper the development of North America's worldwide life science industry during the latter half of the predicted era. In the forecast period, Asia Pacific is anticipated to be a extremely profitable market for life science reagents.
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Market Drivers
In the fields of life sciences and biotechnology, the technological advances have resulted in numerous changes in the areas of health diagnostics, medication discovery, personalized medicines, forensics, and clinical research and development, driving the growth of the reactives market.
The worldwide market for life science reagents is being driven by developments in enzyme-linked immune assay (ELISA), polymerase chain reaction (PCR) technology like digital PCR, rtPCR, chromatography, single cell technology, Next-generation sequencing (NGS) and flow cytometry techniques.
Furthermore, in-vitro diagnostics are one of the major applications of diagnosis for infectious and chronic diseases. In all of the diagnostic tests, life science reagents (biological as well as chemical reagent) are integral and essential.
The in vitro diagnosis sector was favorably affected by the outbreak of infectious viruse such as Zika in 2015. As a result, demand for life sciences reactives has risen.
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Regional Stance
Geographically, the worldwide market for life science reagents has been divided into five key areas: North America, Europe, Asia-Pacific, the Middle East and Africa. North America, followed by Europe, dominated the world market for life sciences reagents in 2018. Due to the elevated research and development operations in the region, the region accounted for a significant share of the worldwide life science reagents market in 2018.
From 2019 to 2026, the market for Life Sciences Reagents in Asia Pacific will grow at a high level of CAGR. The rise in health care and in big patient populations, notably in nations such as India and China in the area, can be ascribed to this.
Key Players & Strategies
The market of life science reagents is divided and the intensity of competition in the landscape is increasing. The market is extremely controlled by the top actors –F. Hoffmann-La Roche, Abbott, Thermo Fisher Scientific, Inc. Both organic and inorganic approaches are employed by these firms for their place on the market for life sciences reagents. As their organic growth policies, research and development have provided them with the focus for the diversification of their product portfolios. Other players are Beckman Coulter, Inc, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., BD, bioMérieux SA, Merck KGaA, PerkinElmer Inc., Lonza Bioscience, more.
However, Local players concentrate on providing their international competitors relative cost-effective products. The product offering has helped local players with a widespread supply network in many geographies at comparatively reduced prices than average selling prices. The availability of products at competitive rates has pressured top players, which intensifies competition in the landscape of life sciences.
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