Life Science Reagents Industry: PCR Reagent Kits Market to Cannibalize Share of Other Product Markets

Investors Look to Improving Response Time of Global Life Science Reagents Market against Increased Disease Prevalence

Life science reagents are the substances or compounds that are utilized to identify or synthesize another compound to provide a test reading. These reagents are employed in bioscience, biotechnology, and pharmaceutical industries and are utilized in the area of research, education, and diagnosis.

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A new research report pegs the global life science reagents market at US$25.73 bn in 2019. The market will be able to achieve this value if it maintains its CAGR of 10.8% from 2013 to 2019. Transparency Market Research, the publisher of the report, is a leading market intelligence provider in a wide array of industry verticals. The report, titled “Life Science Reagents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” explains how this market is expected to shape up in the coming years and what factors are and will be responsible for its growth rate.

Since the last decade, the global life science reagents market for is showing a remarkable growth owing to factors such as technical development and expansion in applications of biosciences and biotechnology in the area of pharmaceuticals and healthcare. Other factors such as increase in prevalence of diseases and the rise in the mortality rates, growing geriatric population, the rise in initiatives from the governments in the sector for biotechnology, and amplified research and development activities in the area of biosciences, pharmaceuticals, and biotechnology are also adding greatly to the growth of this market. On the other hand, the shortage of skilled labor, huge patent repositories with very less market participants, and high capital investment are the major hurdles in the growth trajectory of the global life science reagents industry.

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The list of chemicals in the global life science reagents market include those used in the fields of pharmaceuticals, bioscience, and biotechnology. This market has received major focus over the past few years owing to a boom in the biotechnology industry in terms of applications, along with breakthrough advancements in technology.

According to the report, the global life science reagents market is being driven by the rapidly increasing number of diseased patients. The mortality rates are high is some regions, which is fuelling demand from the global life science reagents market. This is expected to continue for most of the forecast period.

Regionally, the global life science reagents market was led by North America in 2012 owing to an advanced healthcare infrastructure. This region is followed by Europe in terms of market size. On the other hand, Asia Pacific is showing the fastest growth rate due to positive investment opportunities in the region. This region is gaining share in the global life science reagents market due to the increasing rate of outsourcing practices. Other factors boosting the market include the increasing scope of skilled labor, the rising aid given by governments, and the rapid growth in research and development efforts.

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This release was published on openPR.