|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The life science reagents market is projected to register a CAGR of 7.9% during the forecast period, with a revenue of approximately USD 42,170 million in 2020 and expected to reach USD 66,820 million by 2026.
During the COVID-19 pandemic, there is a rising demand for life science reagents, which is driving the market growth. COVID-19 is a type of infectious disease, and the infection rate of the disease has been rising exponentially across the world. The rising number of COVID-19 cases is increasing the demand for tests and several types of research that will require reagents, driving the market growth. In July 2020, Diazyme partnered with Maccura Biotechnology USA to launch a Food and Drug Administration Emergency Use Authorization (FDA EUA) approved SARS-CoV-2 RT-PCR diagnostics test.
Certain factors driving the market growth include the high prevalence of infectious diseases and technological advancements in the field of life sciences and biotechnology. Pathogenic microorganisms, such as bacteria, parasites, and viruses, are responsible for the high prevalence of infectious diseases. These diseases can be spread directly or indirectly from one person to another. They are highly transmittable and can easily spread if precautionary measures are not taken. The lack of healthcare structure and facilities can make these diseases fatal, which is the case in many developing and under-developed countries.
Hepatitis A virus (HAV) accounts for most acute viral hepatitis (AVH) globally. As per a report by Ashish Agrawal, published in the Journal of Infectious Diseases and Therapy 2019, there were around 1.5 million clinical cases of HAV each year globally. However, the report stated that the rate of infection is likely to be 10 times higher because of underreporting, especially in developing and under-developed countries.
The growing prevalence of infectious diseases, such as Zika, Dengue, and HIV, has a direct impact on the increased demand for the life science reagents market. Zika virus (ZIKV) infection has been known to be endemic in Africa and Southeast Asia. There have been major outbreaks of Zika virus infection in Asia-Pacific and South America. As per the statistics provided by World Health Organization (WHO), 2019, in the Americas, an estimated number of 31,587 confirmed cases were reported in 2018. Brazil reported 19,020 cases, Panama reported 2,752 cases, and Bolivia reported 1,736 cases of Zika infection. Moreover, according to the World Health Organization, dengue fever is the most critical and the most rapidly spreading mosquito-borne disease in the world. The global incidence of dengue has grown dramatically in recent decades. The number of dengue cases reported to the WHO increased by over 8-fold over the last two decades, from 505,430 cases in 2000 to over 2.4 million in 2010 and 4.2 million in 2019. The number of reported deaths also increased. Thus, the high and increasing prevalence rate of these infectious diseases resulted in the high demand for more tests and research, which require reagents.
However, the high cost associated with reagents and the stringent regulatory framework act as barriers to market growth.
Scope of the Report
As per the scope of this report, a reagent is a compound or mixture added to a system to occur a chemical reaction or a test if a reaction occurs. Life science reagents play a key role in cell-based products, manufacturing and testing pharmaceutical drug products, and several other healthcare-related solutions. The life science reagents market is segmented by product type (cell and tissue culture reagents, chromatography reagents, clinical chemistry reagents, immunoassay reagents, molecular diagnostic reagents, microbiology reagents, and other product types), end user (hospitals and diagnostic laboratories, academic and research institutes, and other end users), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above-mentioned segments.
|By Poduct Type|
|Cell and Tissue Culture Reagents|
|Clinical Chemistry Reagents|
|Molecular Diagnostic Reagents|
|Other Product Types|
|By End User|
|Hospitals and Diagnostic Laboratories|
|Academic and Research Institutes|
|Other End Users|
Key Market Trends
The Hospitals and Diagnostic Laboratories Segment is Expected to Hold a Major Market Share in the Market
During the COVID-19 pandemic, the demand for reagents increased, as hospitals and diagnostic laboratories were widely using life science reagents for testing the target patients. Researchers are also using reagents for knowing the epidemiology of the diseases, which will boost the segment growth. Moreover, there has been a rapid increase in the molecular point-of-care testing for suspected COVID-19 patients in hospitals across the world, leading to a surge in the usage of life science reagents products that are used in testing, positively influencing the overall market growth.
The reagents in molecular diagnostics are used for nucleic acid extraction, amplification (PCR or RT-PCR), human leukocyte antigens (HLA) typing, the detections of mutations, and other molecular diagnostic related workflows. Next-generation sequencing reagents containing novel DNA polymerases are engineered specifically for PCR applications. RT-PCR is widely used using for the detection of SARS-CoV-2 RNA, which is further driving the life science reagents growth in hospitals and diagnostic laboratories.
Globally, chronic diseases are a leading cause of death, particularly in low-income countries, especially in young children. According to the World Health Organization (WHO) 2019, chronic diseases account for over 41 million deaths each year, equivalent to 71% of all deaths globally. Thus, the increasing prevalence of chronic and viral infectious diseases requires efficient testing in medical specialties and diagnostic care centers.
In diagnostic laboratories and hospitals, the adoption of life science reagents increased, which is likely in the foreseeable future to maintain the pace of the market for life science reagents.
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North America is Expected to Hold a Significant Share in the Market in the Forecast Period
The United States is the most affected country across the world, as the reagents are widely used in any diagnostic, therapeutic, drug discovery, or other research. Thus, the demand for the same will be significantly higher in North America, as the patient population is increasing compared to other countries.
North America is expected to hold a major market share in the global life science reagents market due to the rise in the geriatric population, increasing prevalence, and higher incidence of infectious diseases in this region. The incidence of other chronic diseases, like cancer, is also high in the United States. As per the 2019 report by the American Cancer Society, there were an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in 2019. As per a 2018 report by the Center for Disease Control and Prevention, there are around six in ten Americans living with at least one chronic disease, and chronic diseases are the leading causes of death and disability in America.
According to the data provided by the Canadian government, in 2019, 44% of adults aged 20+ had at least 1 of 10 common chronic conditions, and the prevalence of chronic diseases is rising in Canada. The rising prevalence of chronic and infectious diseases in the United States and Canada is fueling the overall market growth.
Moreover, the increase in research and development activities and the presence of favorable healthcare infrastructure are fueling the growth of the overall regional market to a large extent.
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The life science reagents market is fragmented and competitive, with several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the major market players are Hoffmann-La Roche, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Abbott, BioMerieux SA, Merck KGaA, Danaher Corporation, Siemens Healthineers, DiaSorin SpA, and Sysmex Corporation.
In July 2020, Corning Incorporated launched 3D Clear Tissue Clearing Reagent and expanded its 3D cell culture imaging portfolio. This reagent will help in the rapid imaging of tissues in 3D cell culture.
In May 2020, Meridian Bioscience Inc., a leading provider of diagnostic testing solutions and life science raw materials, announced the approval of SARS-CoV-2 antigens and related reagents from the United States Food and Drug Administration (FDA) Emergency Use Authorization (EUA).
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Burden of Infectious Diseases
4.2.2 Technological Advancements in the Field of Life Sciences and Biotechnology
4.3 Market Restraints
4.3.1 High Cost of Reagents
4.3.2 Stringent Regulatory Framework
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Poduct Type
5.1.1 Cell and Tissue Culture Reagents
5.1.2 Chromatography Reagents
5.1.3 Clinical Chemistry Reagents
5.1.4 Immunoassay Reagents
5.1.5 Molecular Diagnostic Reagents
5.1.6 Microbiology Reagents
5.1.7 Other Product Types
5.2 By End User
5.2.1 Hospitals and Diagnostic Laboratories
5.2.2 Academic and Research Institutes
5.2.3 Other End Users
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 F. Hoffmann-La Roche Ltd
6.1.2 Thermo Fisher Scientific Inc.
6.1.3 Becton, Dickinson and Company
6.1.4 Abbott Laboratories
6.1.5 BioMerieux SA
6.1.6 Merck KGaA
6.1.7 Danaher Corporation
6.1.8 Siemens Healthineers
6.1.9 DiaSorin SpA
6.1.10 Sysmex Corporation
6.1.11 Bio-Rad Laboratories
6.1.12 Promega Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Life Science Reagents Market market is studied from 2018 - 2026.
What is the growth rate of Global Life Science Reagents Market?
The Global Life Science Reagents Market is growing at a CAGR of 7.9% over the next 5 years.
What is Global Life Science Reagents Market size in 2018?
The Global Life Science Reagents Market is valued at 42170 Million USD in 2018.
What is Global Life Science Reagents Market size in 2026?
The Global Life Science Reagents Market is valued at 66820 Million USD in 2026.
Which region has highest growth rate in Global Life Science Reagents Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Life Science Reagents Market?
North America holds highest share in 2020.
Who are the key players in Global Life Science Reagents Market?
F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Inc, Abbott Laboratories, Becton, Dickinson and Company, BioMerieux SA are the major companies operating in Global Life Science Reagents Market.