Life Science Tools Market: Industry Analysis and Outlook, 2028

The global life science tools market size was computed at USD 92.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028.

The global Life Science Tools Market size is expected to reach USD 227.3 billion by 2028, expanding at a CAGR of 11.9% over the forecast period, according to a new report by Grand View Research, Inc. Technological advancements in different life science tools are expected to enhance their adoption among prominent end users of the market, thereby leading to the market growth. For instance, improvements in quantitative accuracy, MS resolution, and information sciences have enhanced the accuracy and utility of mass spectrometry-based methods in the field of proteomics.

Products such as Cell Culture Systems and 3D Cell Culture, Flow Cytometry, PCR and qPCR, Nucleic Acid Preparation, Nucleic Acid Microarray, and Transfection Devices and Gene Delivery Technologies have witnessed substantial growth after the COVID-19 pandemic. Novel research has suggested the use of a flow cytometry-based method for COVID-19 testing. Researchers have also used the technique to explore types of T cells involved in COVID-19 immune responses.

RT-PCR assay is the most commonly used method for the detection of viral RNA in patient samples. Researchers have also developed specific assays to detect SARS-CoV-2. The Center for Disease Control (CDC) has developed a different test protocol by validation and comparison of several kits used in the extraction of nucleic acids. They also used alternative prime and probe sets to detect SARS-CoV-2 in clinical samples.

Related Press Release@ Life Science Tools Market Report

Life Science Tools Market Report Highlights

• Cell biology accounted for the largest revenue share in 2020 and is projected to maintain its dominance throughout the forecast period
• The proteomics technology segment is expected to expand at the fastest CAGR throughout the forecast period owing to a rise in demand for precision medicine
• Researchers suggest that combined genomics and proteomics data can potentially be used for neurodegenerative, neuromuscular, and other chronic disorders; thereby enhancing market growth
• The cell culture systems and 3D cell culture segment was the largest revenue-generating product segment in 2020 as cell biology is gaining importance across multiple aspects of the life science industry
• The cloning and genome engineering segment is expected to expand at the fastest CAGR throughout the forecast period
• Gene cloning has gained significant traction in recent years, becoming a commonly opted approach to make copies of a gene, a science that otherwise remains unexplored
• The health care segment accounted for the largest revenue share in the end-use segment owing to the utility of life science tools in hospitals, clinics, diagnostic laboratories, community centers, and physician offices
• Lucrative opportunities offered by emerging nations has attracted investments from global firms in the Asia Pacific region, thus driving the region at the fastest growth rate throughout the forecast period