Life Science Tools and Services Market Archives

Arising interest in biologics and biosimilars, technological advancements in life science tools, increased government funding for life science technologies, increased adoption of advanced technologies such as sequencing and chromatography, and a growing emphasis on food testing and environmental health are just a few of the key factors driving market growth. Life science’ is an umbrella term for the study of organisms and microbes. Cell biology, biotechnology, genetics, molecular biology, biomedicine, and biochemistry are all examples of life science areas. The market for life science instruments and services is divided into three segments: technology, goods and services, and applications. To know more about the research report, fill out a quick inquiry for a sample report: https://meditechinsights.com/life-science-tools-and-services-market/request-sample/ Technological advancements in the life science tools and services market will boost its global demand. Continuous improvements in the life science instruments and services market have made it possible to build efficient products with greater capabilities and expanded applications, all while being cost effective. Such improvements tend to provide manufacturers a competitive advantage, therefore leading companies are always investing in research efforts for new product development and increasing their geographic reach to enhance their position in the life science tools and services market.Some of the technological advancements are listed below: In August 2022, Roche launched its Digital LightCycler System, a next-generation digital PCR system to assist clinical researchers in better understanding the nature of a patient’s infection, genetic disease or cancer, leading to early diagnosis. In June 2022, Waters Corporation introduced New Xevo G3 quadrupole time-of-flight mass spectrometer, a more sensitive spectrometer than its predecessor to drive drug discovery and development. In May 2022, Bio-Rad Laboratories, Inc. launched the CFX Duet Real-Time PCR System to help researchers develop singleplex and duplex quantitative PCR (qPCR) assays by offering a robust thermal performance featuring its proprietary and accurate optical shuttle system. In March 2022, Element Biosciences Inc. launched its benchtop sequencer - Element AVITI System, that offers combination of performance, cost, and flexibility in an unprecedented way. This system consists of a benchtop NGS instrument and related consumables. In August 2021, Becton, Dickinson and Company launched its benchtop cell analyzer “FACSymphony A1”, offering new capabilities to researchers in small as well as large labs by performing exploratory experiments without tying up freestanding cell analyzers. Emerging Opportunities in the Life Science Tools and Services Market Greater Acceptance of Genomics NCCN guideline adoption: The National Comprehensive Cancer Network (NCCN) has recommended adoption of genetic panel testing in ovarian and breast cancer testing, to help find mutations. Shift towards consumerism: Shift towards a more consumer-oriented model is expected to drive the demand for genomic technologies to understand future health outcomes. Bioproduction, a fast-growing area Growth within biosimilars: The biosimilars market exhibit a high CAGR due to low cost and increased demand which further drive the expansion for the bioproduction industry. Access to healthcare in emerging markets: Large molecule drugs have seen a high growth in emerging market and is expected that pharmerging economies will drive the medicine volume usage in next five years. Focus on Food Testing & Environmental Health Food testing: Increased global food safety regulations, corporate brand management, and increasing emphasis on efficient livestock and agricultural production have contributed to growth of life science tools market for food testing. Environmental health: Improving quality of the soil, air, and water as well as cleaning-up pollutants fall under environmental health agenda. Governments now seem to be more committed to these programs for better quality. North America is expected to hold a major share in the Global Life Science Tools and Services Market From a geographical perspective, North America holds a major market share of the life science tools and services market. This can be mainly attributed to the growing number of genomic procedures, rapid growth in biologics coupled with opportunities in biosimilars, and increased access to advanced technologies. However, the Asia Pacific is expected to ascend at the fastest CAGR over the forecast period on account of the large customer base and growing health concerns in key markets such as Japan, China & India and increasing focus of major players on pharmaceutical R&D outsourcing. Competitive Landscape Analysis: Life Science Tools and Services Market The global life science tools and services market is marked by the presence of key market players such as follows:- Agilent Technologies Thermo Fisher Scientific, Inc. Becton, Dickinson and Company F. Hoffmann-La Roche AG Bio-Rad Laboratories, Inc. Illumina, Inc. COVID-19 has positively impacted the Life Science Tools and Services Market Exponential rise in COVID-19 cases in 2020 and 2021 have led to the increased adoption of life science tools and technologies. Automation and robotic technology play a significant role in expediting manual and redundant tasks in pharmaceutical businesses and laboratories as the key players across the globe are working to stop the spread of COVID-19. Drug companies are constantly attempting to develop vaccinations and other treatments to combat the COVID-19 pandemic. Biopharma companies have launched a number of measures to obtain a competitive edge in the COVID-19 cell therapy market. The key players have employed a variety of market entry techniques, such as increase in the number of biopharmaceutical facilities, partnerships with other significant stakeholders, and the development of CMOs. Irrespective of the challenges such as high cost of advanced technologies, unfavorable reimbursement scenario, and lack of experienced technicians, the global life science tools and services market is growing and is expected to gain further momentum in the coming years due to a strong emphasis on new product development, greater acceptance of genomic sequencing, and focus on food and environmental testing, among others. For instance, the next-generation sequencing (NGS) market was valued at US$ 6.3 billion in 2021 and is set to witness a significant CAGR of 16% from 2022 to 2026, due to rapid developments in sequencing platforms, increasing applications of NGS, development of advanced bioinformatics tools, and growing incidence of cancer and infectious diseases. Get Personalized Research Reports on Life Science Tools and Services Market @ https://meditechinsights.com/life-science-tools-and-services-market/

Tag: Life Science Tools and Services Market

Global life science tools and services market is expected to rise by 8% over the next five years

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