Global Life Science Tools & Reagents Market Grows with CAGR of 7.42%

Life science is changing rapidly and constantly. New discoveries lead to more efficient and faster development of innovative molecular research methods as well as small and large molecular therapeutics – thus creating a basis for sustainable growth in these markets.

Life Science Tools & Reagents are an integral part of the pharmaceutical, biotechnology, and life science industries, primarily for the development of various types of assays, test kits & solutions, and culture media in the tissue culture industry.

The global Life Science Tools & Reagents market was valued at US$ 79219 million in 2020; it will reach US$ 134298 million by the end of 2027, growing at a CAGR of 7.42% during 2022-2027.

Global Life Science Tools & Reagents Market- Key Players

Thermo Fisher Scientific, Merck, Danaher, BD, Roche, Agilent Technologies, BioMerieux, Bio-Rad Laboratories, PerkinElmer, Waters, Bruker, Shimadzu, Abcam, Abbott, Siemens Healthcare, Sysmex, Lonza Group, Meridian Life Science, Promega, are some of the key players in the global Life Science Tools & Reagents market. Thermo Fisher Scientific, Danaher, Merck are top 3 players in the market. The three players account for 15.36%, 15.35%, 10.91% revenue share respectively. Apart from three players, BD, Roche, Agilent Technologies also own a certain share.

Global Life Science Tools & Reagents Market: Type and Application Analysis

The classification of Life Science Tools & Reagents includes tool and Reagents. In 2020, Tools accounted for a share of 55.41% in the global Life Science Tools & Reagents market. In addition, this product segment is poised to reach US$ 72609 million by 2027 from US$ 48256 million in 2021.

Life Science Tools & Reagents is widely used in Commercial & Academic, Clinical and other field. In Life Science Tools & Reagents market, the Commercial & Academic holds an important share, and it is expected to reach a value of 79904 million USD by 2027, at a CAGR of 7.18% during 2021 and 2027.

As for the consumption, North America is the largest consumption place, with a consumption market share nearly 36.42% in 2020. Following North America, Europe is the second largest consumer with the share of 29.98%.

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