Technological Advances Key to Life Sciences Tools and Reagents Markets, Reports BCC Research

Wellesley, May 20, 2016:The latest advances in technology such as high-throughput screening and rapid diagnostics are keying growth in the life sciences tools and reagents market. BCC RESEARCH reveals in its new report that these and other innovations are spurring development of efficient, user-friendly and affordable scientific techniques and products.

Life science, which is the study of living organisms and the factors that affect their well-being, generally comprises four main fields of research: genomics, proteomics, cell biology, and diagnostics. Reagents are the substances or compounds used to detect or synthesize another substance in order to measure a test reading.

The global life sciences tools and reagents market is anticipated to increase at a five-year compound annual growth rate (CAGR) of 3.8% from 2015 through 2020, reaching $58 billion by the end year. Proteomics, the  largest segment in 2015, should slip to second-largest by 2020 on anticipated sales of $12.8 billion, reflecting a five-year CAGR of 2.6%. Genomics as a segment should overtake proteomics as the largest segment by 2020 on sales of $12.9 billion, with a five-year CAGR of 4.2%. Epigenetics as a segment should lead all types during the forecast period with a five-year CAGR of 6.9%, reaching sales of $2.1 billion by 2020.

Global market drivers include technological advances, an aging population, longer-life expectancy, favorable government policies and the growing prevalence of chronic diseases. Other growth factors are increased research and development spending, growing competition, looming patent expiries, new product launches, and emergent technologies such as PCR technology, stem cell research and molecular diagnostics.

Overall, novel diagnostic methods and newer therapeutics are primary market drivers. As such, technology developments like next-generation sequencing and single-cell genomics, along with next-generation NMR  instruments, benchtop mass spectrometers and super-resolution microscopes should drive market growth, as well.

The advances in technology and the need to cater to the growing research and development needs of pharmaceutical companies and research organizations has led to the development of another allied industry that caters to manufacturers of high-quality reagents and techniques deemed necessary for research. The reagents of great value used today are _in vitro and in vivo labeling reagents, monoclonal antibodies, DNA and RNA probes, etc. The techniques/instruments employed include the DNA sequencer, PCR, mass spectrometer, chromatography, and microarray.

“The developments in the fields of ribonucleic acid (RNA) research, particularly RNA interference (RNAi), are showing promise for newer therapies for the treatment of neurodegenerative diseases as well as cardiovascular diseases,” says BCC Research analyst Shalini S. Dewan. “There is an ever-growing demand for high-throughput methods and ultrahigh-purity-grade reagents. Continuous improvements and innovations in this industry are enabling manufacturers to provide tools and reagents that are increasing the pace of research, which in turn, is aiding the life science sector.”

Life Science Tools and Reagents: Global Markets (BIO083C) analyzes how the scientific trends, government policies, and the economy in general affect this industrial market as compared to pharmaceutical and drug discovery ventures. The report also identifies existing products and new potential markets for novel products and assay development. Analyses of global market drivers and trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020 are provided.

 

Corporate Comm India (CCI Newswire)