Life science products include laboratory supplies & accessories, cell culture & fermentation processes, cell therapy technologies, chromatography products, bioprocess filtration, fixed and live cell research through imaging and analysis, sample collection products, recombinant proteins, cell lines, and antibodies.

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.

Global Life Science Products Market: Drivers

Increasing investment in cell culture is expected to propel growth of the global life science products market over the forecast period. For instance, May 2019, Bayer AG announced to invest US$ 150 million in its pharmaceutical development and manufacturing site at Berkeley, CA, to build a Cell Culture Technology Center for R&D in biological therapies.

Global Life Science Products Market: Opportunities

Entry of new players in the market with their sole focus on life science products is also expected to aid in growth of the market. Despite the market having several large players as well as multiple smaller companies, there are limited companies that have a complete focus on being a provider of life science products and reagents. Different vendors have different specializations and product offerings, with most large companies combining research products and reagents with equipment, in-vitro diagnostics tools, and others.

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Global Life Science Products Market: Restraints

Long lead times for custom research requirements are expected to hinder growth of the market. Research products used in complex experiments are normally customized as per end user preferences. Such products are not immediately available and carry long lead times, thereby affecting the pace of research. Several vendors have optimized processes to cater to custom requirements from clients leading to quick turnaround times. However, occasional delays can result from vendor trying to understand user specific requests and build custom solutions.

Key Takeaways:

The Antibodies segment in the global life science products market was valued at US$ 2,794.9 Mn in 2019 and is expected to reach US$ 3,983.9 Mn by 2027 at a CAGR of 4.5% during the forecast period. Increasing research and development activity for production of new drugs to treat rare diseases during the forecast period is expected to propel the segment growth.

The Basic Research segment held dominant position in the global life science products market in 2014, accounting for 63.2% share in terms of value, followed by drug screening, respectively. Increasing investment in cell culture is expected to propel growth of the segments market over the forecast period.

Market Trends


Adoption of technologies such as AI, analytics, IoT, blockchain, and cloud platforms is expected to significantly impact the life science sector. For instance, in March 2020, rMark Bio, a company focused in using AI in life sciences, and West Monroe Partners, a business and technology consultancy, launched Medical Affairs Artificial Intelligence Center of Excellence focused on supporting transformation within life science organizations.

The life science industry in the U.S. is witnessing rapid growth, owing to increasing geriatric population in the country and resultant high demand for novel drugs and therapies. For instance, according to the U.S. Census Bureau, geriatric population in the U.S. is expected to reach 77 million by 2035.

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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

March 2020: Pressure BioSciences, Inc., a company focused on developing pressure-based instruments, consumables, and platform technology solutions for life sciences and other industries, received a purchase order from Can B Corp for its proprietary BaroShear K45 Ultra Shear Technology-based systems for processing CBD Oil into stable, effectively water-soluble, highly absorbable nanoemulsions of oil in water

June 2019: Thermo Fisher Scientific Inc. partnered with Scinogy, an automated manufacturing systems provider for cell therapies, for the development and commercialization of instrumentation and reagent systems designed to improve productivity and scalability of cell and gene therapy manufacturing

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