Life Science Tools Market Share, Demand, Growth Rate, and Forecast by 2028

According to IMARC Group’s latest research report, titled “Life Science Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” provides an extensive analysis of the industry, including life science tools market share, size, trends, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the global market.

How big is the Life Science Tools Market?

The global life science tools market size reached US$ 142.13 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 229.07 Billion by 2028, exhibiting a growth rate (CAGR) of 8.12% during 2023-2028.

What are Life Science Tools?

Life science tools represent numerous instruments, equipment, and techniques used in scientific research and analysis of living organisms, their systems, and processes. They comprise several devices, reagents, and other services that are utilized to study the advanced areas of biotechnology, genetics, molecular biology, biochemistry, etc. Life science tools are highly precise and accurate, that aid in developing new drugs and therapy, improving human health, and ensuring faster development of new treatments and technologies. Consequently, they enhance the quality and standard of living by being applied to agriculture, health, and food science industries.

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What are the Growth Prospects and Trends in the Life Science Tools Market?

The widespread adoption of proteomic and genomic workflows in hospitals to diagnose and treat various diseases is among the key factors driving the life science tools market. Moreover, the rising focus on drug discovery and development, on account of the growing number of disorders and conditions requiring new therapies, is also stimulating the market growth. Besides this, the incorporation of artificial intelligence (AI) with life science tools that aid in conducting efficient clinical trials, uncovering and creating new drugs, and diagnosing diseases more accurately is acting as another significant growth-inducing factor. Furthermore, the increasing utilization of next-generation sequencing (NGS) technology that is used to determine the order of nucleotides in entire genomes or targeted regions of deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) is further propelling the global market. Apart from this, biopharmaceutical companies are introducing large-sale genome sequencing projects in collaboration with community health systems and academic medical centers, which is positively influencing the market growth. Additionally, extensive research and development (R&D) activities and the escalating demand for personalized medicine are anticipated to fuel the life science tools market over the forecasted period.

Who are the key Players Operating in the Industry?

Agilent Technologies Inc.
Becton Dickinson and Company
Bio-Rad Laboratories Inc.
Bruker Corporation
Danaher Corporation
F. Hoffmann-La Roche AG
Illumina Inc.
Merck KGaA
Oxford Instruments plc
Qiagen N.V.
Shimadzu Corporation
Thermo Fisher Scientific Inc.

What is included in Market Segmentation?

The report has segmented the market into the following categories:

Type Insights:

Instruments
Consumables
Services

Technology Insights:

Cell Culture Systems and 3D Cell Culture
PCR and qPCR
Sanger Sequencing
Separation Technologies
Flow Cytometry
Nucleic Acid Microarray
Mass Spectrometry
Others

Application Insights:

Proteomics Technology
Genomic Technology
Cell Biology Technology
Others

End User Insights:

Government and Academic
Biopharmaceutical Company
Healthcare
Industrial Applications
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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