Los Angeles, CA -- (SBWIRE) -- 10/20/2021 -- By presenting a new market study on Life Science Reagents in its latest report, QY Research has offered an extensive market analysis. The report is titled, "Global Life Science Reagents Sales Market Report 2019" that thoroughly examines the market to provide the readers with dashboard view of the market. According to the report, the Global Life Science Reagents Sales market is likely to obtain US$ 51.8 Bn by the end of 2025 from an earlier valuation of US$ 26.1 Bn in 2018, registering a robust CAGR of 10.4% from 2019 to 2025.
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Life Science Reagents Market – Drivers
? Rising prevalence of genetic disorders and increasing usage of genome sequencing for treatment of diseases and disorders is creating a lucrative growth opportunity for the market
? Increasing research activities by biotechnology and pharmaceutical companies along with increased funding for academic and research institutions is likely to propel the growth of the market
Increasing Usage of Reagent Kits in Laboratories to Foster the Growth of the PCR Reagent Kits Segment
The type segment of the Life Science Reagents market is bifurcated into IVD Diagnostics Reagents, PCR Reagents Kits, Chromatography Reagents, Tissue & Cell Culture Reagents, and Others. PCR Reagents kits have a high demand due to its increasing application in sequencing, cloning, sequencing, forensic identification, and others. The PCR reagent kits are mainly used in research, laboratories, pharmaceutical, and chemical industries, which is likely to foster the growth of the PCR Reagents Kits segment. Based on application, the market is segmented into Clinical, commercial & academic, and others.
North America Emerges as Profitable Market
Increasing research activities in the field of pharmaceuticals and genomics are fostering the growth of the market in North America. Increasing government support for genomic studies for the development of personalized medicines is likely to drive the growth of the market. Increasing investment in genomic sequencing and increasing research funding in Europe particularly in countries such as Germany and the UK is likely to fuel the market growth.
Leading Companies Introduce New Products to Generate Revenue
The market is highly competitive with leading players involved in expansions and product launches.
For instance, in 2017, Sysmex announced an initiative to offer clinical lab products by introducing Cyflow Antibodies in its portfolio which will enable pathology laboratories to use the clone for their Laboratory Developed Tests.
In another instance, Roche Diagnostics India launched its latest technology - cobas® pro integrated solutions with time-saving efficient features, automated maintenance, and reagent loading mechanism.
The report consists of profiles of top players active in the Life Science Reagents market which includes Roche, Danaher, Merck Millipore, BioMerieux, Abbott, Siemens Healthcare, BD, Lonza Group, Bio-Rad Laboratories, Meridian Life Science, PerkinElmer, Promega, Waters, Agilent Technologies, and Sysmex.
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