"Designing Growth Strategies is in our DNA"
Life sciences refer to the branch of science that studies living organisms, including biology, botany, zoology, microbiology, physiology, biochemistry, etc. Life science tools include various instruments, consumables, reagents, and other services that are useful in life science. The factors attributable to the market's growth are technological advancements and the growing demand for diagnostic tests for many infectious diseases. For instance, In May 2021, Ginkgo announced a strategic alliance with Quest Diagnostics to provide COVID-19 Kindergarten through Senior (K-12) school testing services to assist classroom learning nationwide
Increased adoption of technologies by life science tools companies in sequencing technologies, chromatography methods, and other products are augmenting the market growth. For example, in March 2020, Hamilton Company announced multiple automation-related initiatives to support healthcare workers and researchers in combatting the pandemic. The two new automated assay-ready workstations, based on the Company’s Microlab STARlet liquid handling workstation, enable fast diagnostic and research-based testing of SARS-CoV-2. Furthermore, amidst the pandemic, the sudden rise in the patient counts lead to an increase in the demand and need for the diagnostic instruments
However, the high cost associated with such advanced technologies is much higher than might hold back the market growth. Additionally, the increased competition from other industries in the market is hampering the growth
Key Market Driver -
Adoption of Technological advancements by the life science tools companies
Key Market Restraint -
Higher cost associated with the Technologies
Globally, the life science tools market can be segmented into product type, technology type, application, end-user, and geography. On the basis of product type, the market is segmented into instruments, consumables, and services. The market has been divided into PCR, sanger sequencing, separation technologies, flow cytometry, nucleic acid microarray, mass spectrometry, and other technologies based on technology type. The market can be segmented into proteomics technology, genomic technology, cell biology technology, and other applications. The market can be categorized into research laboratories, diagnostic laboratories, and others based on end-user segmentation. Geographically, the nerve repair biomaterials market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Major companies present in the life science tools market are Agilent Technologies, Illumina Inc., Thermo Fisher Scientific Inc., F. Hoffman-La Roche Ltd., Bio-Rad Laboratories, Inc., Danaher Corporation, Becton, Dickinson and Company, QIAGEN, Merck KGaA, Shimadzu Corporation, Hitachi, Ltd., Bruker, Oxford Instruments plc, Zeiss International and other prominent players.
To gain extensive insights into the market, Request for Customization
Based on the segmentation of the region, the global life science tools market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to retain its leading position over the forecast duration. Factors such as higher investments in biopharmaceutical and pharmaceutical industries, new product launches, and the presence of key players in the market are attributed to the market's growth in North America. For instance, in January 2021, Thermo Fisher Scientific Inc., a worldwide leader in serving science, and Groupe Novasep SAS, a prominent supplier of services and technologies for the life sciences industry, announced the acquisition of Henogen S.A., Novasep’s viral vector manufacturing business for approximately USD 857 million in cash. The APAC regions are estimated to show rapid growth due to investments to design advanced diagnostic methods and advancements in technologies. These factors combined with others are evaluated to augment the market growth APAC region for the coming years. Additionally, the governments are undertaking more significant initiatives, and the presence of various large population bases is boosting Asia Pacific's growth. Latin America, Middle East, and Africa are anticipated to grow slower than other regions due to limited patient awareness.
By Product Type
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry