Life Science Reagents Market to Expand at 10.8% CAGR owing to Rising Occurrence of Diseases A new Transparency Market Research report states that the global life science reagents market stood at US$12.44 billion in 2012 and is predicted to expand at a CAGR of 10.8% between 2013 and 2019, to reach an estimated value of US$25.73billion by 2019. The title of the report is “Life Science Reagents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019�. The utilization of life science reagents is on the rise owing to the swift technological developments in and rising utilization of life science technologies. Life science reagents comprise reagents utilized in bioscience, pharmaceuticals, and biotechnology. In the past 10 years, the market for life science reagents has witnessed exponential development owing to increasing applications of biosciences and biotechnology in the healthcare sector. The rising occurrence of diseases, rising global geriatric population, increasing mortality rate, and the rise in activities pertaining to research and development in biotechnology, pharmaceuticals, and biosciences are amongst the other factors stimulating the growth of the market for life science reagents.
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