Life Science Tools Market to Increase 13.6% Annually Through 2016
Rockville, MD, /Marketwire - MarketResearch.com has announced the addition of BCC Research’s new report “Life Science Tools and Reagents: Global Markets,” to their collection of Pharmaceuticals market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6314971
Reagents and research tools used in the life sciences are essential parts of routine laboratory research. The discovery of the PCR (polymerase chain reaction) is one of the best examples where a technical method opened a new era of molecular biology, and its significance was acknowledged with a Nobel Prize in 1993.
Yet, despite such contributions and its importance in biomedical research, potential investors often overlook the life science tools industry. It is important to understand that this market follows different business models as compared to the pharmaceutical industry. While pharmaceuticals need more financial leverage and time to develop successful drugs, reagent development is less risky. Reagents companies develop various strategies to grow and expand their activities, offering new outlooks on biotechnology and pharmaceutical market development. In addition, scientific trends, government policies, and the economy in general affect this industrial market differently as compared to pharmaceutical and drug discovery ventures. For example, the launch of new reagents or products is not affected by strict FDA guidelines.
The life science tools market has shown steady growth over the last couple of years despite the economic downturn. This market is currently valued at more than $42 billion and is projected to increase at compound annual growth rate (CAGR) of 13.6% to reach approximately $81 billion in 2016.
Reagents and tools for DNA and RNA research are currently worth $27 billion and expected to increase at a 12.2% compound annual growth rate (CAGR) to reach $48 billion in 2016. Cell biology reagents represent at least 30% of the life science research tools market. This particular segment is currently estimated at $10 billion and predicted to at least double its value in the next 5 years to reach $24 billion, a 19.1% compound annual growth rate (CAGR).
This report highlights the main segments of the life science tools and reagents industry and its major market participants, including current and future market trends. Drivers and challenges in each segment of this industry will be discussed in detail, including forecasts for the next 5 years.
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