Global life science tools market size to register 8.7% CAGR through 2027
Description: The core objective of the business intelligence report on ‘global life science tools market’ is to illuminate the different segments and regions in terms of sizes and shares, and forecast the values for 2020-2027. The study is designed to incorporate qualitative as well as quantitative aspects of the industry within each regional market and countries involved. It factors in all crucial aspects such as the driving forces and challenges that will define the further growth of this industry vertical. Furthermore, it scrutinizes the competitive landscape and elaborates on the sales amassed by the leading companies. Additionally, a descriptive overview of the available opportunities in micro markets for industry partakers to invest and reap strong profits in the upcoming years, is contained in the document.
According to industry experts, worldwide life science tools industry size valuation was USD 47.4 billion in 2019 and is projected to register a year-over-year growth rate of 8.7% during the forecast period 2020-2027. Increasing burden of infectious diseases across the globe is the primary growth driver of the industry. Further, soaring R&D expenditure in pharmaceuticals is expected to add momentum to the market growth over the forecast timeframe. In fact, in 2019, global research and development spending in pharmaceutical industry increased from USD 136 billion in 2012 to USD 186 billion in 2019, and is on track to reach USD 233 billion in 2026, cites Statista.
Also, Indian government’s Ministry of Science & Technology reported that the Gross Expenditure on R&D (GERD) in the nation has been witnessing a continuous increase, and has tripled from USD 5.2 billion in 2007-09 to USD 15.02 billion in 2017-18. Whereas, the Centers of Medicare & Medicaid Services claims that U.S. healthcare expenditure grew by 4.6% in 2018, accounting for USD 3.6 trillion. Similar trends in other developed as well as in developing economies, together with development of the healthcare infrastructure are expected to present new opportunities for global life science tools industry expansion.
For the uninitiated, life science tools including medical instruments, clinical trial services, analytical tools, consumable and supplies, are mainly utilized in pharmaceutical and biotechnology industries. The applicability of these tools in the discovery, development, and production of drugs will continue to sustain the overall life science tools industry growth. However, high costs of instruments will negatively impact the business outlook over the projected timeline.
Global life science tools market size is fragmented into North America, Latin America, Europe, Asia Pacific, and Rest of the World. North America currently holds a coveted position in the industry owing to presence of leading vendors, a reputable informatics network, and an authoritative regulatory framework for usage and approval of genomic tests.
To access a sample pages of this report titled “Global Life Science Tools Market Size, by Technology (Genomic Technology, Proteomics Technology, Cell Biology Technology and Lab Supplies & Technologies), by Product (Sanger Sequencing, NGS, Nucleic Acid Preparation, PCR & qPCR, Nucleic Acid Microarray, Flow Cytometry, Separation Technologies, Mass Spectrometry, Electron Microscopy, NMR and Others), by End-Use (Government & Academic, Biopharmaceutical Company, Health Care, Industry and Others) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
Global Life Science Tools Market Technology Sub-Segments (Revenue, USD Billion, 2017-2027)
- Genomic Technology
- Cell Biology Technology
- Proteomics Technology
- Lab Supplies & Technologies
Global Life Science Tools Market Product Gamut (Revenue, USD Billion, 2017-2027)
- Sanger Sequencing
- PCR & qPCR
- Nucleic Acid Preparation
- Nucleic Acid Microarray
- Separation Technologies
- Flow Cytometry
- Mass Spectrometry
- Electron Microscopy
Global Life Science Tools Market by Vertical (Revenue, USD Billion, 2017-2027)
- Biopharmaceutical Company
- Government & Academic
Global Life Science Tools Market Regional Bifurcation (Revenue, USD Billion, 2017-2027)
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of APAC
Rest of the World
Global Life Science Tools Market Competitive Dashboard (Revenue, USD Billion, 2017-2027)
- Merck KGaA
- Illumina, Inc.
- Hitachi, Ltd.
- GE Healthcare
- Danaher Corp.
- Bruker Corp.
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- Becton, Dickinson and Company
- Agilent Technologies, Inc.
Global Laboratory Information Management System (LIMS) Market size and Regional Forecasts 2020-2027
Global Laboratory Information Management System (LIMS) Market is valued approximately USD 0.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.1 % over the forecast period 2020-2027. Laboratory Information Management System (LIMS) is a software-based laboratory and information management system. It has the following features including data tracking support, flexible architecture, and data exchange interfaces, which fully support its use in regulated environments. LIMS can also use for enterprise resource planning tool that manages multiple aspects of laboratory informatics. The global Laboratory Information Management System (LIMS) is being highly demanded due to the coronavirus pandemic as employees are asked to work from home and LIMS tools can manages multiple aspects of laboratory informatics.
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