Life science’ is an umbrella term that studies organisms and microorganisms. There are different fields that fall under life science such as cell biology, biotechnology, genetics, molecular biology, biomedicine, and biochemistry. The life science tools and services market is segmented on the basis of technique, products & services and applications.
Technological Advancements in Life Science Tools and Services Market to fuel its Global Demand
Continuous advancements in life science tools and services market have enabled to develop efficient products with advanced capabilities and increased applications, along with cost effectiveness. Such advancements tend to provide competitive edge to manufacturers and therefore, major players are continuously focusing on investing in research activities for new product development and expanding their geographic reach to strengthen their position in the life science tools and services market. Some of the technological advancements are listed below:
- In August 2022, Roche launched its Digital LightCycler System, a next-generation digital PCR system to assist clinical researchers in better understanding the nature of a patient’s infection, genetic disease or cancer, leading to early diagnosis.
- In June 2022, Waters Corporation introduced New Xevo G3 quadrupole time-of-flight mass spectrometer, a more sensitive spectrometer than its predecessor to drive drug discovery and development.
- In May 2022, Bio-Rad Laboratories, Inc. launched the CFX Duet Real-Time PCR System to help researchers develop singleplex and duplex quantitative PCR (qPCR) assays by offering a robust thermal performance featuring its proprietary and accurate optical shuttle system.
- In March 2022, Element Biosciences Inc. launched its benchtop sequencer - Element AVITI System, that offers combination of performance, cost, and flexibility in an unprecedented way. This system consists of a benchtop NGS instrument and related consumables.
In August 2021, Becton, Dickinson and Company launched its benchtop cell analyzer “FACSymphony A1”, offering new capabilities to researchers in small as well as large labs by performing exploratory experiments without tying up freestanding cell analyzers.
Emerging Opportunities in the Life Science Tools and Services Market
- Greater Acceptance of Genomics
- NCCN guideline adoption: The National Comprehensive Cancer Network (NCCN) has recommended adoption of genetic panel testing in ovarian and breast cancer testing, to help find mutations.
- Shift towards consumerism: Shift towards a more consumer-oriented model is expected to drive the demand for genomic technologies to understand future health outcomes.
- Bioproduction, a fast-growing area
- Growth within biosimilars: The biosimilars market exhibit a high CAGR due to low cost and increased demand which further drive the expansion for the bioproduction industry.
- Access to healthcare in emerging markets: Large molecule drugs have seen a high growth in emerging market and is expected that pharmerging economies will drive the medicine volume usage in next five years.
- Focus on Food Testing & Environmental Health
- Food testing: Increased global food safety regulations, corporate brand management, and increasing emphasis on efficient livestock and agricultural production have contributed to growth of life science tools market for food testing.
- Environmental health: Improving quality of the soil, air, and water as well as cleaning-up pollutants fall under environmental health agenda. Governments now seem to be more committed to these programs for better quality.
North America is expected to hold a major share in the Global Life Science Tools and Services Market
From a geographical perspective, North America holds a major market share of the life science tools and services market. This can be mainly attributed to the growing number of genomic procedures, rapid growth in biologics coupled with opportunities in biosimilars, and increased access to advanced technologies. However, the Asia Pacific is expected to ascend at the fastest CAGR over the forecast period on account of the large customer base and growing health concerns in key markets such as Japan, China & India and increasing focus of major players on pharmaceutical R&D outsourcing.
Competitive Landscape Analysis: Life Science Tools and Services Market
The global life science tools and services market is marked by the presence of key market players such as follows:-
- Agilent Technologies
- Thermo Fisher Scientific, Inc.
- Becton, Dickinson and Company
- F. Hoffmann-La Roche AG
- Bio-Rad Laboratories, Inc.
- Illumina, Inc.
COVID-19 has positively impacted the Life Science Tools and Services Market
Exponential rise in COVID-19 cases in 2020 and 2021 have led to the increased adoption of life science tools and technologies. Automation and robotic technology play a significant role in expediting manual and redundant tasks in pharmaceutical businesses and laboratories as the key players across the globe are working to stop the spread of COVID-19. Drug companies are constantly attempting to develop vaccinations and other treatments to combat the COVID-19 pandemic. Biopharma companies have launched a number of measures to obtain a competitive edge in the COVID-19 cell therapy market. The key players have employed a variety of market entry techniques, such as increase in the number of biopharmaceutical facilities, partnerships with other significant stakeholders, and the development of CMOs.
Irrespective of the challenges such as high cost of advanced technologies, unfavorable reimbursement scenario, and lack of experienced technicians, the global life science tools and services market is growing and is expected to gain further momentum in the coming years due to a strong emphasis on new product development, greater acceptance of genomic sequencing, and focus on food and environmental testing, among others.
For instance, the next-generation sequencing (NGS) market was valued at US$ 6.3 billion in 2021 and is set to witness a significant CAGR of 16% from 2022 to 2026, due to rapid developments in sequencing platforms, increasing applications of NGS, development of advanced bioinformatics tools, and growing incidence of cancer and infectious diseases.
Key Strategic Questions Addressed in this Report
- What is the market size & forecast of the life science tools and services market?
- What are historical, present, and forecasted market shares and growth rates of various segments and sub-segments of the life science tools and services market?
- What are the key trends defining the life science tools and services market?
- What are the major factors impacting the life science tools and services market?
- What are the opportunities prevailing in the life science tools and services market?
- Which region has the highest share in the global market? Which region is expected to witness the highest growth rate in the next 5 years?
- Who are the major players operating in the life science tools and services market?
- What are the key strategies adopted by players operating in life science tools and services market?
1. Research Methodology
1.1. Secondary Research
1.2. Primary Research
1.3. Market Estimation
1.4. Market Forecasting
2. Executive Summary
3. Market Overview
3.1. Market Dynamics
3.1.4. Market Trends
3.2. Industry Speaks
3.3. Technology Trends
4. COVID-19 Impact on Life Science Tools and Services Market
5. Looming Recession (2023) – Key Challenges & Impact
6. Global Life Science Tools and Services Market- Size & Forecast (2019-2027), By Technique
6.1. Next-Generation Sequencing (NGS)
6.2. PCR (Polymerase chain reaction) & qPCR (quantitative polymerase chain reaction)
6.3. Flow Cytometry
6.4. Nuclear Magnetic Resonance Spectroscopy (NMR)
6.5. Microscopy & Electron Microscopy
6.6. Liquid Chromatography (LC)
6.7. Mass Spectrometry (MS)
6.8. Nucleic Acid Preparation (NAP)
6.9. Transfection Devices & Gene Delivery Technologies
6.10. Cell Culture Systems & 3D Cell Culture
6.11. Cloning & Genome Engineering
6.12. Nucleic Acid Microarray
6.13. Sanger Sequencing
7. Global Life Science Tools and Services Market- Size & Forecast (2019-2027), By Product & Services
7.2. Reagents and Consumables
8. Global Life Science Tools and Services Market- Size & Forecast (2019-2027), By Application
8.4. Government & Academic
8.5. Industrial Applications
9. Global Life Science Tools and Services Market- Size & Forecast (2019-2027), By Region
9.1. North America (U.S. & Canada)
9.2. Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
9.3. Asia Pacific (China, India, Japan, Rest of Asia Pacific)
9.4. Rest of the World (Latin America, Middle East & Africa)
10. Competitive Landscape
10.1. Key Players and their Competitive Positioning
10.1.1. Market Share Analysis (2022)
10.1.2. Segment-wise Player Mapping
10.2. Key Strategies Assessment, By Player (2020-2022)
10.2.1. New Product & Service Launches
10.2.2. Partnerships, Agreements, & Collaborations
10.2.3. Mergers & Acquisitions
10.2.4. Geographic Expansion
11. Key Companies Scanned (Indicative List)
11.1. Danaher Corporation
11.2. Illumina, Inc.
11.3. Thermo Fisher Scientific, Inc.
11.4. Agilent Technologies, Inc.
11.5. Becton, Dickinson and Company
11.6. F. Hoffmann-La Roche Ltd.
11.7. Bio-Rad Laboratories, Inc.
11.8. QIAGEN N.V.
11.9. PerkinElmer Inc.
11.10. Shimadzu Corporation
The study has been compiled based on the extensive primary and secondary research.
Secondary Research (Indicative List)
To validate research findings (market size & forecasts, market segmentation, market dynamics, competitive landscape, key industry trends, etc.), extensive primary interviews were conducted with both supply and demand side stakeholders.
Supply Side Stakeholders:
- Senior Management Level: CEOs, Presidents, Vice-Presidents, Directors, Chief Technology Officers, Chief Commercial Officers
- Mid-Management Level: Product Managers, Sales Managers, Brand Managers, R&D Managers, Business Development Managers, Consultants
Demand Side Stakeholders:
- Stakeholders in Pharmaceutical & Biopharmaceutical Companies, CROs & CMOs, Academic & Research Institutes, Life Science Service Providers, Hospitals & Diagnostic Laboratories.
Breakdown of Primary Interviews
Market Size Estimation
Both ‘Top-Down and Bottom-Up Approaches’ were used to derive market size estimates and forecasts.
Research findings derived through secondary sources & internal analysis were validated with Primary Interviews, Internal Knowledge Repository, and Company Sales Data.