Life science products market | Coherent Market Insights

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• LIFE SCIENCE PRODUCTS MARKET ANALYSIS
• Life Science Products Market, By Product
  (Recombinant Proteins (Immune Checkpoint
  Regulators, Chemokines, Growth Factors,
  Cytokines, Colony Stimulating Factors, Hormones,
  Enzymes Inhibitors, Others), Cell Lines
  (Immunotherapy Cell Lines, Ion Channel Cell
  Lines, GPCR Cell Lines, Cell Signaling Pathway
  Cell Lines, Gene Knockout Cell Lines, Cancer Cell
  Lines, Others), Antibodies (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),
  Others(Viable Tumor Samples, Tumor Tissue
  Microarrays)), By Application (Drug Discovery
  Development, Basic Research, Toxicity Screening,
  Biopharmaceutical Production, Drug Screening,
  Tissue Engineering, Forensic Testing), By End
  User (Biopharmaceutical Companies, Contract
  Research Organizations (CROs), Academic
  Research Institutes, Forensic Science
  Laboratories, Food Beverage Companies,
  Diagnostic Centers, Others), and By Region (North
  America, Latin America, Europe, Asia Pacific,
  Middle East Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2019 - 2027

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• Life science, also referred as biology, is the
  study of life and living things. It includes
  anatomy, animal biology, bacteriology,
  biochemistry, cell biology, ecology, evolutionary
  biology, genetics, molecular biology, plant
  biology, physiology, and virology. Life science
  plays major role in drug discovery, tissue
  engineering, drug screening, forensic testing,
  and genetic analysis.
• Statistics
• The global life science products market is
  estimated to account for US 4,735.8 Mn in terms
  of value by the end of 2027.

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• Global Life Science Products Market Drivers
• Increasing funding in the life science sector is
  expected to boost growth of the global life
  science products market over the forecast period.
  For instance, in February 2020, Purdue-affiliated
  Amplified Sciences LLC and Brightlamp Inc.
  received a grant of US 250,000 each from the
  Purdue Foundry Investment Fund for RD in life
  science technologies.
• Moreover, RD in rare diseases is also expected
  to aid in growth of the market. For instance,
  Oraxion Therapeutics, Inc., a subsidiary of
  India-based Aten Porus, is undergoing preclinical
  and efficacy study of the drug, ORX-301, which
  can be used in the treatment of FSGS. In February
  2018, Oraxion Therapeutics, Inc. entered into an
  Option Agreement with a U.S-based
  biopharmaceutical company. Under the, agreement,
  the U.S.-based company gets exclusive rights for
  further clinical studies and license of ORX-301
  in the U.S.

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• Figure 1. Global Life Science Products Market
  Share (), by Region, 2019

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Global Life Science Products Market Restraints

• High cost of life science products is expected to
  hinder growth of the market. Development of novel
  products in the life science domain requires
  complex processes, which lead to expensive
  products.
• Moreover, several users do not prefer to invest
  in such expensive products, especially for
  research groups with limited budgets and funding,
  due to the uncertainties in the results expected
  from complex experiments. Most of the research
  products procured from different vendors tend to
  show ambiguous results and products have also
  been known to have lot-to-lot variability.
  Therefore, researchers find it difficult to
  reproduce published research, thereby severely
  limiting progress of research. Such scenarios are
  expected to limit growth of the market.

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Global Life Science Products Market
Opportunities

• Market players may focus on expanding their
  presence in emerging regions. Biotech projects
  can be outsourced in emerging economies such as
  India, owing to significant availability of
  skilled labor and qualified manpower at
  affordable costs.
• Increasing government initiatives to boost the
  life science sector is expected to offer
  lucrative growth opportunities for players in the
  market. For instance, in March 2020, the U.K.
  government pledged an investment of US 24.57
  billion per year by 2024-25 in its budget for RD
  investment, including in the life sciences.

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Academic Research Institutes segment in the
global life science products market was valued at
US 1,444.8 Mn in 2019 and is expected to reach
US 1,967.6 Mn by 2027 at a CAGR of 3.9 during
the forecast period.

• Market Trends/Key Takeaways
• The adoption of big data in the life science
  sector allowed market players to classify
  potential clients, thereby allowing them to offer
  appropriate content and to track the
  effectiveness of campaigns. However, in May 2018,
  the EU implemented the General Data Protection
  Regulation (GDPR), which strengthened the data
  protection laws. Therefore, market players need
  to reassess their policies to suit the European
  market.
• The life science sector in Europe has witnessed
  an increase in the number of patents. For
  instance, according to the European Patent
  Office, in 2019, the pharmaceutical sector
  witnessed a 4.4 rise in number of patents over
  2018, whereas and biotechnology sector recorded a
  rise of 1.7 over 2018.

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Regulations

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Global Life Science Products Market Competitive
Landscape

• Major players operating in the global life
  science products market include, Abcam Plc.,
  A.M.S. Biotechnology (Europe) Limited, Bio-Rad
  Laboratories Inc., BPS Bioscience Inc., Crown
  Bioscience Inc., Genscript Biotech Corporation,
  Merck Millipore Limited, PerkinElmer Inc., Sigma
  Aldrich Corp., and Thermo Fisher Scientific Inc.
• Global Life Science Products Market Key
  Developments Major players in the market are
  focused on launching new products to expand their
  product portfolio. For instance, in October 2019,
  Thermo Fisher Scientific Inc. launched Cytomat 2
  C-LiN Series Automated Incubator, which is
  designed to offer cell growth and environmental
  control across a range of micro plate
  applications that include cell-based screening,
  immuno-capture assays, microbiology, and enzyme
  testing.
• Major players in the market are also focused on
  conducting clinical trials to expand their
  product portfolio. For instance, in March 2020,
  Achieve Life Sciences, Inc., a clinical-stage
  pharmaceutical company, presented additional
  analyses from the ORCA-1 Phase 2b trial that
  assessed the efficacy of Cytisinicline, a
  plant-based alkaloid with a high binding affinity
  to the a4ß2 nicotine receptor, at the SRNT Annual
  Meeting in New Orleans (U.S).

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