Life Sciences Tools Market Major Driving Factors for Industry Growth
Life science is the field of science that deals with the study of variety of living organisms, such as, plants, animals, human beings and microorganisms. Life sciences is also considered as a multidisciplinary scientific and research field as it comprises of a wide number of fields of study, such as molecular biology, genetics, biotechnology, cell biology, biochemistry, biomedicine etc. Some of the major life sciences tools include, instruments, reagents, consumables and services that are offered to various academic, medical, scientific and research professionals worldwide.
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Life sciences tools market can be classified into five major segments, namely, genomics, proteomics, cell biology, other analytical tools and laboratory supplies & disposables. The genomics tools segment can be further classified into sub segments, such as, PCR, digital PCR, qPCR, CE sequencing, microarrays, next generation/third generation sequencing and molecular biology. The proteomics tools can be further segmented into segments such as, ELISA, protein isolation and analysis, protein microarrays, protein production and western blotting tools. And, the other analytical tools will include, media and sera, basic cell biology reagents, flow cytometry, electroporation, transfection, microscopy, cell culture equipment, whole cell imaging, cells and tissues. The laboratory supplies and disposables include sub segments such as, mass spectroscopy, liquid chromatography, multiplex technologies, in vivo study, sample preparation, glassware, LIMS and magnetic beads.
Some of the major driving factors for the growth of life sciences tools market include, rising demand from various research and pharmaceutical companies, increasing incidences of new and drug resistant diseases and technological advancement in various fields of life sciences. Various research and pharmaceutical companies increasingly demand for better and improved reagents and other instruments that will add to their faster research and drug development processes. Also, various life science tools do not face strict regulations for their approval and marketing such as other drugs and other medical devices. Increasing incidences of infectious diseases and related research and development of new treatment methods require assistance of various life science tools, which will further help in the growth of this market. Current ongoing innovations and technological advancements in life science instruments will add to the growth of life sciences tools market in the near future.
Geographically, North America dominates the life sciences tools market followed by Europe. Major factors responsible for the growth of this market in these regions were high rate of research and drug development activities in the region and most of the research and big pharmaceutical firms are located in these regions. However, Asia-Pacific represents the most lucrative market for the life sciences tools due to its rapid rate of growth in recent past. The major factors responsible for this region’s fast rate of growth include increasing demand for various life sciences tools due to rising healthcare expenditure in the region along with the rising economic condition of various countries of the region.
Some of the major players operating in the life sciences tools market are Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., EMD Millipore (Merck KGaA), Life Technologies (Thermo Fisher Scientific Corporation), F. Hoffmann-La Roche Ltd. and Sigma-Aldrich Corporation.