Life Science Reagents Market to Reach US$25.7 bn by 2020 owing to Rising Activities of R&D within the Field of Pharmaceuticals A new Transparency Market Research report states that the global life science reagents market was valued at US$12.4 bn in 2012 and is expected to reach US$25.7 bn by 2019. It is expected to expand at a healthy CAGR of 10.80% from 2013 to 2019. The title of the report is “Life Science Reagents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 2019�. Life science reagents include reagents that are used in biotechnology, bioscience and pharmaceutical industries. Since the last decade, the global life science reagents market has experienced impressive growth due to factors such as technology advancement and expansion in applications of biotechnology and biosciences in the field of healthcare and pharmaceuticals.
Some other factors contributing to the growth of the life science reagents market include increasing disease prevalence and rise in their mortality rates, aging of population and increased research and development activities in the field of biosciences, biotechnology and pharmaceuticals. Based on the commercially available life science reagent products, the global life science reagents market is categorized as PCR reagent kits, cell and tissue culture reagents, flow cytometry reagents, electrophoresis reagents, chromatography reagents, in-vitro diagnostic reagents and others. In addition, the global life science reagents market is segmented on the basis of end users, namely, commercial and contract manufacturers, research and academics, clinical laboratories, and forensic laboratories. Chromatography reagents are the most widely used reagent products thus, capturing the highest market share in the overall life science reagents market. Wide use of chromatography in almost every aspect of biotechnology-related research and product development is the prime contributing factor for the dominance of this segment. On the other hand, the market share of electrophoresis reagents is the lowest as compared to other products available in the overall life science reagents market. Technological advancement and increasing initiatives towards the expansion of scope of biotechnology and life science has led to perpetual rise in demand for life science reagents worldwide. In terms of end users, research and academic institutions are the largest consumers of life science reagents. Technological development and corresponding rise in the number of available skilled labor in emerging economies have widened the scope for research outsourcing in the developing