Latest News On (COVID-19 Updates) Life Science Products Market – Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
SEATTLE, May 04, 2021, (PHARMIWEB) —
Laboratory supplies and accessories, cell culture and fermentation systems, cell therapy technologies, chromatography products, bioprocess filtration, fixed and live cell imaging and examination, sample processing products, recombinant proteins, cell lines, and antibodies are all examples of life science products.
The global life science products market is expected to account around US$ 4,735.8 Mn in terms of value by the end of 2027.
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Rising investment in cell culture is expected to drive growth of the global life science products market during the forecast period. For instance, May 2019, Bayer AG announced to invest around US$ 150 million in its pharmaceutical development and manufacturing site at Berkeley, CA, to create a Cell Culture Technology Center for biological therapy research and development.
Entry of new players in the global life science products market with their sole focus on life science products is also expected to propel growth of the market. Despite the market having several large players as well as multiple smaller companies, there are limited companies that have a complete focus on being a provider of life science products and reagents. Different vendors have different specializations and product offerings, with most large companies combining research products and reagents with equipment, in-vitro diagnostics tools, and others.
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Long lead times for custom research requirements are expected to hamper growth of the global life science products market over the forecast period. When creating research products for complex experiments, end-user expectations are normally considered. These instruments are difficult to obtain and have long lead times, which delays the testing process. Several manufacturers have changed their processes to meet clients’ special demands, which has resulted in faster delivery times. Furthermore, there could be many delays as the provider attempts to comprehend the user’s particular requirements and create custom solutions.
Rising adoption of advance technologies including analytics, AI, blockchain, IoT and cloud platforms is expected to propel growth of the global life science products market during the forecast period. For instance, in March 2020, rMark Bio, the Medical Affairs Artificial Intelligence Center of Excellence, which is focused on promoting transformation within life science organizations, was launched by a company focused on using AI in life sciences and West Monroe Partners, a business and technology consultancy.
The life science products market in the U.S. is witnessing heavy growth, due to growing geriatric population in the country and resultant heavy demand for new therapies and drugs. For instance, according to the U.S. Census Bureau, geriatric population in the U.S. is expected to reach 77 million by 2035.
Major players are dominating in the global life science products market such as, A.M.S. Biotechnology (Europe) Limited, Abcam Plc., BPS Bioscience Inc., Bio-Rad Laboratories Inc., Genscript Biotech Corporation, Crown Bioscience Inc., PerkinElmer Inc., Merck Millipore Limited, Thermo Fisher Scientific Inc. and Sigma Aldrich Corp.
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- Life Science Products Market, By Product:
- Recombinant Proteins
- Immune Checkpoint Regulators
- Growth Factors
- Colony Stimulating Factors
- Enzymes & Inhibitors
- Cell Lines
- Immunotherapy Cell Lines
- Ion Channel Cell Lines
- GPCR Cell Lines
- Cell Signaling Pathway Cell Lines
- Gene Knockout Cell Lines
- Cancer Cell Lines
- Immune Checkpoint Antibodies
- Epitope Tag Antibodies
- Isotype Control Antibodies
- Research Use
- In-vivo Grade
- Primary Antibodies
- Research Use
- In-vivo Grade
- Assay Antibodies (includes secondary antibodies)
- Viable Tumor Samples
- Tumor Tissue Microarrays
- Recombinant Proteins
- Life Science Products Market, By Application:
- Drug Discovery & Development
- Basic Research
- Toxicity Screening
- Biopharmaceutical Production
- Drug Screening
- Tissue Engineering
- Forensic Testing
- Life Science Products Market, By End User:
- Biopharmaceutical Companies
- Contract Research Organizations (CROs)
- Academic & Research Institutes
- Forensic Science Laboratories
- Food & Beverage Companies
- Diagnostic Centers
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