Life Science Reagent Market Huge Growth For The Upcoming Few Years

Life science reagents are compounds or substances used to determine the cause of a disease or to develop a new reactant. Life science reagents play an important role in the cell-based products, manufacturing and testing of drug products, and several other healthcare-related solutions. The global life science reagent market is divided into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa.
 
Rise in the geriatric population and increasing prevalence of chronic diseases, such as stroke, cancer, and diabetes, are expected to drive growth of the global life science reagent market during the forecast period. For instance, according to the World Health Organization (WHO), cardiovascular diseases account for around 17.9 million deaths each year, followed by cancers (9 million) and diabetes (1.6 million). Increase in research and development activities and the presence of favorable healthcare infrastructure is also expected to propel the market growth. Moreover, an increasing number of product launches and approvals across the globe are also expected to fuel the global life science reagent market growth. For instance, in May 2018, Grifols received the U.S. FDA approval to commercialize the antisera reagent range.
 
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Competitive Section:
Key players active in the global life science reagent market are Roche Holding, Abbott Laboratories, Danaher Corporation, Merck KGaA, GE Healthcare, Bio-Rad Laboratories, Siemens Healthineers, Dickinson and Company, Becton, bioMérieux SA, Waters Corporation, Perkin Elmer Inc., Ortho Clinical Diagnostics, Agilent Technologies Inc., Sysmex Corporation, and Thermo Fisher Scientific.
 
In December 2019, Shimadzu Corporation the Earle A. Chiles Research Institute signed an agreement to develop tools for personalized cancer immunotherapeutics.
In November 2019, Thermo Fisher Scientific teamed up with Owlstone Medical to advance early disease detection using non-invasive breath biopsy.
In April 2019, Roche launched the new VENTANA HER2 Dual ISH DNA Probe Cocktail assay for the detection of the HER2 biomarker in breast and gastric cancer.
In March 2019, Dolomite Bio launched a new scRNA-Seq reagent kit to expand the Nadia Instrument portfolio.
In February 2019, GE Healthcare agreed to sell BioPharma business to Danaher Corporation for US$ 21.4 billion.
 
Restraint:
The high cost of instruments and the dearth of skilled professionals are expected to hamper the global life science reagent market growth.
 
Opportunities:
Growth of the pharmaceutical and biotechnology industries is expected to create significant growth opportunities in the market.
 
Regional Insights:
Europe is expected to witness significant growth in the global life science reagent market due to a rise in the number of approvals from the European Union for assays and reagents. For instance, in March 2017, HTG Molecular Diagnostics received CE marking for its HTG EdgeSeq ALKPlus Assay. 
North America is expected to witness significant growth in the global life science reagent market due to a rise in the geriatric population and increasing incidence & prevalence of infectious diseases in this region.
 
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