Life Science Tools Market, 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 Technology, By Application and By Region - Trends, Analysis, and Forecast till 2029

Life Science Tools Market accounted for USD 51.3 Billion in 2019 and is estimated to be USD 117.1 Billion by 2029 and is anticipated to register a CAGR of 8.7%

Life science is a division of science that deals with the study of living organisms that include biology, microbiology, botany, zoology, etc. Life science and healthcare industry have been generating a huge amount of data related to scientific research, patient profiles, compliance and regulatory requirements over the period. The life sciences tools market includes consumables, instruments, reagents, and several other services. Life science tools help to manage a large number of datasets with conventional software and hardware. It enhances work efficiency, eases data management, improves patient care, and also to lower costs. The growth of the healthcare industry, pharmaceutical industry, and the rise of the research and development sector has resulted in a significant boost for the life science tools market in recent years. 

The federal government in Germany clearly emphasizes on higher education and research through various strategies and initiatives across the country. Some of these strategies include the Excellence Strategy, the Excellence Initiative, the new High-Tech Strategy, and the Internationalization Strategy. The federal governments and German state provide around 30% of the overall spending on R&D in the country. Additionally, the federal and state governments have also collaborated for subsidy projects of national significance. Thus, growth in investments by government and non-government organizations for R&D linked life sciences tools research and academics are projected to boost the target market growth. Conversely, high implementation cost and lack of skilled professionals are the major factors restraining the growth of the life science tools market.

Trend & Opportunity

Growing demand for flexible wearables, flexible displays, and smartwatches is anticipated to further support the growth of the market. Additionally, the growing adoption of flexible electronics in smart applications is projected to create a lucrative business opportunity for major manufacturers and vendors in the market over the forecast period.

The life science tools market is segmented based on the product, technology, application, and region.

On the basis of the product, the life science tools market is segmented into sanger sequencing, NGS, nucleic acid preparation, PCR & qPCR, nucleic acid microarray, flow cytometry, separation technologies, mass spectrometry, electron microscopy, NMR, and Others. Based on the technology, the target market is segmented into genomic technology, proteomics technology, cell biology technology, lab supplies & technologies, and other analytical & sample preparation technology. Based on the application, the target market is classified into government & academic, a biopharmaceutical company, health care, industry, and others.

Regional Insights:                                              

In the region, the life science tools market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America estimated for the highest share in 2019 due to the terms such as the local presence of prominent key players such as Thermo Fisher Scientific, reputable informatics network, and well-regulated framework for approval and usage of genomic tests in the region. Moreover, the growth in the number of genomic procedures for clinical and academic use in the U.S. is projected to fuel the North America market growth in the coming years. The Asia Pacific is accounted to register the fastest growth over the estimated period due to rising penetration of leading players in developing Asian countries and investments for the design of advanced diagnostic methods. Asia Pacific is a profitable terminus for subcontracting pharmaceutical R&D as the region provides skilled professionals at a much lower cost than emerged economies in North America and Europe. Thus, CROs have lengthened their presence in the Asia Pacific due to lucrative openings in several Asian countries.

Segments Covered in the Report:

This report forecasts revenue growth at , regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Life Science Tools Market report based on Product, Technology, Application and Region.

Life Science Tool Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the life science tools market include Agilent Technologies, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Bruker Corporation, GE Healthcare, Hitachi, Ltd., Danaher Corporation, Illumina, Inc., and Merck KGaA. Prominent key players are involved in technological advancements in different life science tools in order to enhance their adoption among prominent end users of the market, thus leading to market growth. Thermo Fisher Scientific is one of the biggest suppliers of extensive innovative solutions for the life science community worldwide. The company’s portfolio includes nucleic acid purification solutions, sequencing solutions, flow cytometry instruments, thermal cyclers, and other laboratory supplies. The company’s products are utilized by healthcare professionals and researchers across the globe.

• Aidan Products LLC
• Agilent Technologies
• Becton, Dickinson and Company
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd.
• Bruker Corporation
• GE Healthcare
• Hitachi, Ltd.
• Danaher Corporation
• Illumina, Inc.
• Merck KGaA