Next-Generation Sequencing Is Witnessing High Growth In The Global Life Science Instruments and Reagents Market
The global life science instruments and reagents market is expected to witness a CAGR of 9.6% to reach revenue of $94.98 billion by 2025
Bangalore, India, April 15, 2019: With its recently published study “Global Life Science Instruments and Reagents Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global life science instruments and reagents market will continue to grow, owing to increasing spending on R&D by pharmaceutical & biotechnology companies, increasing incidences of chronic (including cancer), infectious, autoimmune disorders, & other types of diseases globally, growing interest & increasing awareness levels about the benefits of early-stage diagnosis, increasing spending on R&D by biotechnology & pharmaceutical firms, emerging applications, and growing adoption of emerging innovative testing technologies, particularly in the life sciences sector. Emerging applications of life science instruments and increased focus on the development of new products & product approvals are projected to support the market growth during the forecast period 2019–2025.
The life science instruments and reagents market, by technology type, is segmented into spectrometry, chromatography, polymerase chain reaction (PCR), biochips, next-generation sequencing (NGS), flow cytometry, centrifugation, electrophoresis, microscopy, liquid handling systems, laboratory freezers, and others. Among various technologies, spectrometry occupied a dominant share in 2018 and NGS is expected to grow at a high CAGR during the forecast period 2019–2025. Wide-spread application of systems across all the disciplines of the life science industry made the spectrometry segment a dominant shareholder in 2018.
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The global life science instruments and reagents market is segmented in the regions of North America, Europe, Asia Pacific, and Rest of the World. North America occupied a significant market share in 2018, and Asia Pacific is likely to grow at a high CAGR during the forecast period. The existence of huge number of biotechnology & pharmaceutical companies and established healthcare infrastructure make North America a dominant shareholder. Increase in the funding for healthcare research, growing patient pool, increasing healthcare expenditure, and favorable regulatory environment make Asia Pacific the fastest growing region during the forecast period.
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“Currently, the life science instruments and reagents market is growing steadily due to increasing genetic analysis and growing demand for early disease diagnosis. Drug discovery & biomarker analysis, increased use of instruments in developing personalized medicine, and other emerging applications are further expected to enhance the demand for technology in the coming years.” – Arpitha Shetty, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- By Technology:
- Polymerase Chain Reaction (PCR)
- Next-generation Sequencing (NGS)
- Flow Cytometry
- Liquid Handling Systems
- Laboratory Freezers
- By Regions:
- North America
- Asia Pacific
- Rest of the World
- Industry Outlook: Market trends, drivers, restraints, and opportunities