Dublin, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The "European Life Science Tools and Reagents Market" report has been added to ResearchAndMarkets.com's offering.
The European market for life science tools and reagents and COVID-19 diagnostics products was valued at $14.7 billion in 2023. The market is expected to grow from $13.0 billion in 2024 to $15.4 billion by the end of 2029, at a compound annual growth rate (CAGR) of 3.4% from 2024 through 2029.
This report provides a comprehensive analysis of the European market for life science tools and reagents, including the leading companies, their revenues, product portfolios and recent activities. It looks at the competitive landscape, trends and market dynamics, such as drivers, restraints and opportunities. It also analyzes the current and future markets.
The reagents studied are antibodies, enzyme-linked immunosorbent assay (ELISA) kits, protein reagents and probes. The life science tools included are hybridization systems, PCR, Western blotting instruments and ELISA instruments. The countries whose markets are analyzed are Germany, France, the U.K., Italy, Spain, Switzerland and the Rest of Europe. Markets are also analyzed by application.
One of Europe's most significant strategic assets is the life science industry, which produces cutting-edge drugs and vaccines essential to the long-term health and security of European residents. Innovation in the field of life science has transformed the trajectory of a number of diseases. According to the EFPIA article on Competitiveness Strategy for European Life Science, HIV, which was once considered a deadly disease, has now been changed to a manageable disease, significant advances in cancer care have transformed survival rates, 95% of patients can now be cured of hepatitis C, and new tools have been developed to manage cardiovascular diseases and obesity.
During the 1980s Europe was considered the global leader in pharmaceutical discovery, development and manufacturing. However, that position has gradually been ceded to the U.S., which is currently dominating the global healthcare industry. Of the top 50 global pharmaceutical companies, only 10 are headquartered in Europe. As the highest revenue-generating companies will invest more in R&D, U.S. companies are expected to hold a competitive edge in the near future.
A recent report published in 2023, as an initiative of Biomed Alliance in Europe, EuropaBio, and Johnson & Johnson, highlights that by 2021, the public investments in healthcare research in the U.S. reached $43.6 billion (€40 billion), compared to $9.4 billion (€8.4 billion) annually in the Europe. The number of clinical trials conducted in European countries is also lower than in the U.S. In addition, as emerging markets such as China and Korea continue to expand, research activity is moving from Europe to these regions. Therefore, it is imperative for the European government to take certain measures to regain its position in the healthcare industry. Such measures include slowly increasing spending on research and ensuring research and development activities are not moving to other countries in the future.
The European market for life science tools and reagents is expected to grow from $12.5 billion in 2024 to $15.3 billion by the end of 2029, at a CAGR of 4.2% from 2024 through 2029. The European market for life science COVID-19 diagnostics products is expected to decline from $479.6 million in 2024 to $29.4 million by the end of 2029, at a negative CAGR of 42.8% from 2024 through 2029.
European Life Science Tools and Reagents Market Scope
- An analysis of the European market for life science tools and reagents, including COVID-19 diagnostics products
- Analyses of the market trends, with historic market revenue data (sales figures) for 2021-2023, estimates for 2024, and projected CAGRs through 2029
- Estimates of the market size and revenue forecasts for the market for life science tools and reagents, with market share analysis by product, application, and country
- Discussions of the market dynamics, opportunities and challenges, as well as emerging technologies
- Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG scores, and consumer attitudes
- Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
- Profiles of the leading companies, including Thermo Fisher Scientific Inc., Danaher Corp., Merck KGaA, Qiagen and Roche
Full List of Company Profiles Included in this Report:
- Agilent Technologies Inc.
- Altona Diagnostics Gmbh
- Analytik Jena GmbH+Co. KG
- BD
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Promega Corp.
- Qiagen
- Revvity Inc.
- Thermo Fisher Scientific Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 128 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $13 Billion |
| Forecasted Market Value (USD) by 2029 | $15.4 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Europe |
Key Topics Covered:
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- Market Summary
Chapter 2 Market Overview
- Overview
- Product Development in Life Science
Chapter 3 Market Dynamics
Market Drivers
- Increasing Investments in R&D
- Increasing Prevalence of Chronic Diseases
- Increasing Demand for Various Diagnostics Pathways and In Vitro Diagnostics
- Growth in Genomic and Biomarker Research
- Increasing Demand for Personalized Medicine
- Technological Advances
Market Restraints
- End of COVID-19 Pandemic
- High Cost of Instruments
- Lack of Skilled Personnel
Market Challenges
- Regulatory Hurdles
Market Opportunities
- Positive Impact from Some Revisions in Pharmaceutical Legislation
- New Technologies
Chapter 4 Emerging Technologies and Developments
- Overview
- Next-Generation Therapeutics
- Next-Generation Diagnostics
- Digitalization
- AI and Machine Learning
- Internet of Things (IoT)
- Robots in Life Science Labs
Chapter 5 Market Segmentation Analysis
European Market for Life Science Tools and Diagnostics, by Product Type
- COVID-19 Diagnostic Tests Market
- Market for Life Science Tools and Reagents
European Market for Life Science Tools and Diagnostics, by Application
- Genomics
- Proteomics
- Cell Biology, Antibodies and Recombinant Proteins
- Stem Cells Research
- Imaging Tools and Techniques
- Animal Models
- Epigenetics
- Metabolomics
- Other Applications
European Market for Life Science Tools and Diagnostics, by Country
- United Kingdom
- Germany
- France
- Switzerland
- Spain
- Italy
- Rest of Europe
Chapter 6 Competitive Intelligence
- PCR Technologies and Reagents
- Antibodies
- ELISA Instruments
- ELISA Kits and Assays
- Life Science Kits and Assays
- COVID-19 Diagnostics
- Strategic Initiatives
- Recent Product Introductions in the Market
Chapter 7 Sustainability in Life Science Tools and Reagents in the European Market: An ESG Perspective
- Introduction to ESG
- ESG Practices in the Industry
- Status of ESG in the Industry
- Concluding Remarks
Chapter 8 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/xl5cml
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