Life Sciences Tools Market

The global Life Sciences Tools Market is valued at USD 143.2 Billion in 2022 and is projected to reach a value of USD 328.1 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 11.1% between 2023 and 2030.

Premium Insights

Globally, the utilization of genomic technologies is on the rise, with a growing emphasis on comprehending diseases and contributing to the development of novel diagnostic tests and procedures. This trend is fueling the expansion of the market. For instance, Becton, Dickinson, and Company (BD) and CerTest Biotec introduced their latest molecular polymerase chain reaction (PCR) assay for the monkeypox virus, targeting both the US and international markets in September 2022. The companies have explicitly mentioned that this PCR assay is exclusively for research. These recent product launches are expected to drive robust market growth throughout the projected period.

• The 2022 WHO Factsheet shows 680,000 fatalities were attributed to HIV-related causes, and 1.5 million individuals contracted HIV. Consequently, a substantial patient population is anticipated to drive an increased demand for treatment, as well as a heightened utilization of Life Sciences Tools in identifying, diagnosing, and monitoring the progression of various infectious diseases
• North America generated more than 42.3% of revenue share in 2022
• Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
• Cell Biology Technology segment accounted for the most significant market growth and contributed over 32.1% of the total revenue share in 2022
• Cell Culture Systems & 3D Cell Culture segment revealed the most crucial market growth, contributing more than 22.3% of the total revenue share in 2022
• The healthcare segment accounts for the most significant revenue of 34.5% in 2022

Economic Insights

Economic changes also significantly affect the Life Sciences Tools market. Factors such as government funding for research and development, healthcare expenditure, and regulatory policies influence the growth and adoption of Life Sciences Tools. For example, companies may reduce their research and development budgets during economic downturns, impacting the demand for Life Sciences Tools. In addition, the supply chain of Life Sciences Tools involves multiple stages, including manufacturing, distribution, and sales. Major players in the market operate through direct sales channels, distributors, and online platforms to cater to the growing demand from academic and research institutions, pharmaceutical companies, and contract research organizations. The supply chain also includes raw material suppliers and component manufacturers, who play a crucial role in ensuring the availability of high-quality products.

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Top Market Trends

• Rising Adoption of Automation and Robotics: With increasing complexity in life sciences research, the need for automation and robotics has grown significantly. For example, high-throughput screening systems that automate the drug discovery process, such as robotic liquid handling systems, enable researchers to handle large volumes of samples efficiently and accurately.
• Growing Demand for Personalized Medicine: As precision medicine gains traction, there is a rising demand for tools that enable the analysis and understanding of individual genetic variation. For instance, next-generation sequencing (NGS) platforms provide researchers powerful tools to analyze an individual's genomic data and identify potential targets for personalized therapies.
• Increasing Focus on Data Analysis and Informatics: Generating large volumes of complex data in the life sciences has necessitated advanced data analysis and informatics tools. For example, bioinformatics software solutions allow researchers to manage, analyze, and interpret biological data obtained from experiments and clinical trials.
• Emergence of Gene Editing Technologies: The development of gene editing technologies such as CRISPR-Cas9 has revolutionized the life sciences field. These tools enable precise manipulation of genetic material, opening up new avenues for research and potential therapeutic applications. For instance, CRISPR-Cas9 gene editing tools have been used to develop possible treatments for genetic diseases.
• Increasing Adoption of Single-Cell Analysis: Traditional bulk analysis methods overlook cellular heterogeneity within tissues or samples. Single-cell analysis tools like single-cell sequencing and imaging technologies allow researchers to study individual cells, enabling a deeper understanding of cell behavior, disease mechanisms, and potential therapeutic targets.
• Growing Demand for Point-of-Care Diagnostics: With the need for rapid and precise diagnostics, the market for point-of-care (POC) diagnostics tools is expanding rapidly. For example, portable PCR machines and handheld biochemical analyzers enable healthcare providers to diagnose infections or monitor disease progression in real time without relying on centralized laboratories.

Market Segmentation

The Life Sciences Tools Market is segmented primarily as mentioned below:

The global Life Sciences Tools market can be categorized into Technology, Product, End-User, Region. The Life Sciences Tools market can be categorized into Genomic Technology, Proteomics Technology, Cell Biology Technology, Lab Supplies & Technologies, Other Analytical & Sample Preparation Technology based on Technology. The Life Sciences Tools market can be categorized into Cell Culture Systems & 3D Cell Culture, Liquid Chromatography, Mass Spectrometry, Flow Cytometry, Cloning & Genome Engineering, Microscopy & Electron Microscopy, Next Generation Sequencing, PCR & qPCR, Nucleic Acid Preparation, Nucleic Acid Microarray, Sanger Sequencing, Transfection Devices & Gene Delivery Technologies, NMR, Other Products based on Product. The Life Sciences Tools market can be categorized into Government & Academic, Biopharmaceutical Company, Healthcare, Industrial Applications, Other End-Users based on End-User. The Life Sciences Tools market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Technology

The Cell Biology Technology Held the Largest Share in Recent Times

Cell Biology Technology in the Life Sciences Tools market holds most of the market share in 2022. Cell biology technology's importance in drug discovery is rising, coupled with a notable increase in funding from the NIH (National Institutes of Health) dedicated to advancing cell biology research. In addition, the advancements in flow cytometry and liquid handling have resulted in an increased utilization of cell-based assays within the field of drug discovery. Also, prominent market players have initiated collaborative research initiatives to reprogram newborn stem cells sourced from umbilical cord tissue and blood into Induced Pluripotent Stem Cells (iPSCs). For instance, in January 2022, EdiGene and Haihe Laboratory announced a strategic partnership to develop platform technologies and stem cell regenerative therapies. This collaboration is focused on exploring innovative biomarkers to enhance quality control in stem cell production. These cooperative ventures are poised to stimulate market growth throughout the forecast period.

Based on Product

Cell Culture Systems & 3D Cell Culture Dominated the Market

Cell Culture Systems & 3D Cell Culture has experienced significant market growth in 2022. Exploratory research efforts delving into the potential of cell biology have yielded significant breakthroughs, thereby contributing to revenue generation. A profound comprehension of cell biology has evolved into a valuable asset throughout laboratory workflows, unlocking fresh avenues for market growth. Furthermore, professionals in the life sciences field enthusiastically embrace novel and advanced instruments, which is anticipated to fortify this sector further. This industry trend has also prompted several prominent manufacturers, including Cytiva, BioTek Instruments, Horizon Discovery, and Seahorse Bioscience, to expand their portfolios by introducing cell analysis, cell biology, and imaging instruments.

Based on End-user

Healthcare Accounted for the Largest Market Share

The healthcare segment mentioned the potential growth of the market in 2022. The surge in adopting proteomic and genomic workflows within hospital settings to diagnose and treat various diseases is poised to propel market growth. Moreover, the increasing utilization of tissue diagnostic and next-generation sequencing (NGS) services in hospitals is expected to be a driving force in this industry. Numerous hospitals and clinics are equipping themselves with sequencing capabilities, incorporating advanced tools and technology into everyday medical practices. Stanford Medicine, for instance, is a notable example of a hospital offering sequencing services to individuals with rare or undiagnosed genetic conditions. In the United States, Partners HealthCare stands out as one of the pioneer hospital systems offering public genomic sequencing and comprehensive analysis and interpretation services. The integration of genomic sequencing within hospital and clinical settings is anticipated to enhance patient care while simultaneously reducing healthcare costs, thus making the healthcare segment poised for the most rapid growth in the years to come.

Based on Region

North America will Lead the Market in the Projected Period

North America has led the Life Sciences Tools market due to the rapid adoption of genomics, proteomics, oncology, and diagnostic screening in the region. The market growth in the United States and Canada is driven by the increasing adoption of genomic medicine, biopharmaceuticals, diagnostic procedures, and innovative technologies for diagnosing and treating clinical disorders. This region also benefits from a significant number of market players actively involved in advancing tools for life science research. Additionally, market expansion is anticipated soon, thanks to the strictly controlled regulatory framework for authorizing and utilizing genomic and tissue diagnostic tests. Notably, in August 2021, Agilent Technologies, Inc. introduced the COVID-19 Severity Test Screening, which utilizes the Agilent Cary 630 FTIR Spectrometer.

Competitive Landscape

Intense competition, technological advancements, and strategic alliances characterize the competitive landscape of the Life Sciences Tools market. To keep a competitive advantage in the market, businesses continuously work to develop cutting-edge tools and technology. Additionally, mergers and acquisitions are common in this industry as companies seek to expand their product portfolios and enhance their market presence. For instance, Agilent Technologies, Inc. partnered with Biosciences, Inc. to integrate the AVITI System with SureSelect target enrichment panels for improved customer access to genomic tools in February 2022.

The players in the global Life Sciences Tools market include Agilent Technologies Inc. (U.S.), Becton Dickinson and Company (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories Inc. (U.S.), Danaher Corporation (U.S.), Illumina Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Hongkong), Merck KGaA, Shimadzu Corporation (Japan), Hitachi Ltd. (Japan), Bruker Corporation (U.S.), Oxford Instruments PLC (UK), Zeiss International (Germany) among others.

Recent Market Developments

• In April 2022, Sysmex Europe launched its Flow Cytometer XF-1600, which has received a CE marking, indicating its compliance with the European IVD Regulation and IVD use.
• In March 2022, Beckman Coulter Life Sciences launched a solution to manual sample preparation and data management bottlenecks in clinical flow cytometry: the CellMek SPS. This fully automated sample preparation system (SPS) offers on-demand processing for many sample types to help laboratories expand their capabilities.
• In February 2022, Agilent Technologies, Inc. partnered with Biosciences, Inc. to integrate the AVITI System with SureSelect target enrichment panels for enhanced customer access to genomic tools.

Segmentation of the Global Life Sciences Tools Market