Global Life Science Instruments and Reagents Market Forecast up to 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global
Life Science Instruments and Reagents Market: Forecast up to 2025”
report has been added to ResearchAndMarkets.com’s
offering.

The report predicts that the global life science instruments and
reagents market will grow at a CAGR of 9.6% during the forecast period.

The global life science instruments and reagents market has massive
growth opportunities in both developed and developing regions. The
innovation in instruments and reagents will increase the competition
among the market players.

The market has witnessed a steady growth in the past few years, and the
development in technology with the introduction of novel products has
augmented the acceptance of life science instruments in the market. The
market is fueled by upsurge in chronic (including cancer), infectious,
autoimmune disorders, and other types of diseases globally, growing
interest & increasing awareness levels about the benefits of early-stage
diagnosis, increasing spending on R&D by biotechnology & pharmaceutical
firms, and growing adoption of emerging innovative applications,
particularly in the life sciences industry.

Globally, the market continues to grow steadily with all technologies
used widely by pharmaceutical, biotechnology, and diagnostic companies.
The vendors are focusing on new product introduction and targeting
toward end-users perspective. The industry consolidation rate is
increasing as well because of mergers, acquisitions, and collaborations
in the major markets of the US and Europe.

In the mature markets, the leading vendors are focusing on new product
launches and fast approvals as there is an increase in demand for
developing new diagnostic procedures. This has led to an increase in R&D
expenditure by the leading companies, mainly in the field of NGS,
oligonucleotides-based reagents/assays, and other emerging areas within
biological science.

The industry concentration is medium to high with the majority of the
revenue being generated by the key players operating in this field; few
of them include Thermo Fisher Scientific, Inc., Illumina, Inc., Agilent
Technologies, Inc., Merck KGaA, and Danaher Corporation.

North America accounted for the largest share of the global life science
instruments and reagents market in 2018 and will retain a high position
during the forecast period. North America is followed by Europe with a
share of more than 25% of the global market in 2018. The presence of a
large number of biotechnology and pharmaceutical companies in North
America makes it a dominant region in the global life science
instruments and reagents market. Asia Pacific is projected to grow at a
double-digit CAGR during the forecast period, owing to factors such as
early adoption of novel technologies, increasing funding for healthcare
research, growing healthcare expenditure, and favourable regulatory
environment.

In 2018, the spectrometry segment accounted for the largest share and is
expected to grow at a mid-single-digit CAGR during the forecast period.
The NGS segment is expected to grow at a high CAGR during the forecast
period 2019-2025 due to emerging diagnostic applications, continuous
technological advancements, and more efficient & user-friendly
techniques.

Many companies are focused on product approvals, funding, and
development of new products related to life science instruments and
reagents due to the increase in the demand for developing new diagnostic
procedures. For instance, in November 2018, Thermo Fisher Scientific
launched its FTIR spectrometer known as Nicolet iS20. The instrument
features a new LightDrive Optical technology that enhances the analysis
of complex samples to provide fast and accurate results. Exactly a year
before, in November 2017, GNA Biosolutions GmbH had launched Pharos V8,
the world’s first Laser PCR platform.

Another example is the launch of new INVENIO Fourier Transform Infrared
(FT-IR) research spectrometer by Bruker in April 2018. This instrument
is the successor to the renowned VERTEX 70 FT-IR for advanced R&D
applications. In addition, other leading vendors are focusing on hugely
investing in R&D activities to develop new products to obtain a high
share in the market.

Key Competitive Facts:

The market is highly competitive with all the players competing to gain
the market share. Intense competition, rapid advancements in technology,
frequent changes in government policies, and the prices are the key
factors that confront the market.

The requirement of high initial investment for the installation of
certain life science instruments and maintenance cost in the market are
also limiting the entry of new players.

Market Dynamics

Drivers

• Increased technological advancements in analytical devices
• Increase in spending on biotechnology and pharmaceutical R&D

Opportunities

• High demand for the instrument from various industries
• Growth opportunities in developing market

Restraints

• High instrument cost
• Lack of skilled professional

Vendor Profiles

• Thermo Fisher Scientific Inc.
• Illumina, Inc.
• Danaher Corporation
• Agilent Technologies Inc
• Merck KGAA

Companies to Watch For

• Becton Dickinson and Company
• Bio-Rad Laboratories
• F. Hoffmann-La Roche
• Shimadzu Corp.
• GE Healthcare
• Promega Corporation
• Bruker Corporation
• PerkinElmer, Inc.
• Waters Corporation

For more information about this report visit https://www.researchandmarkets.com/r/drai1n

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Related
Topics: Biotechnology