Life Science Tools Market Size, Share & Industry Analysis By Product Type (Instruments, Consumables, Services), By Technology (PCR, Sanger Sequencing, Separation Technologies, Flow Cytometry, Nucleic Acid Microarray, Mass Spectrometry ), By Application (Proteomics Technology, Genomic Technology, Cell Biology Technology, Others), By End-user (Research Laboratories, Diagnostic Laboratories) And Regional Forecast, 2024-2032

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

Market Segmentation:

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.

Key Players Covered:

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.

Key Insights:

• Technological Advancements in Life Science Tools Market


• Key Industry Developments – Merger, Acquisitions, and Partnerships


• Key Product Launches


• COVID-19 Impact on Life Science Tools Market

Regional Analysis:

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.

Segmentation

Global Life Science Tools Market Industry Developments

• In March 2021, BioTools Innovator, by propelling the growth of best-in-class startups is intended to advance life science tools innovation and improve human health.


• In August 2021, Agilent Technologies announced that Researchers Develop COVID-19 Severity Screening Method Based on the Agilent Cary 630 FTIR Spectrometer.