Life Science Tools Market Size, Share & Trends Analysis Report By Technology (Cell Biology, Proteomics), By Product, By End-use (Government & Academic, Healthcare), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global life science tools market size was valued at USD 144.08 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2030. The growth in revenue is mainly due to rapid advancements by the life science tools companies in sequencing, MS, chromatography, NMR, and other various products. Moreover, investments and funding for the development of advanced therapeutics along with continuous demand for novel medicine and treatments due to rising incidence of diseases such as cancer, kidney and thyroid disorders, and diabetes will drive the market. The COVID-19 pandemic has impacted several industries and the associated supply chains across the globe. This is due to disruption in the supply of key materials such as scarcity of raw materials and labor. In addition, the transportation of raw materials across regions had been put on hold. These factors have led to a shortage of medical supplies, such as molecular and immunoassay kits, digital solutions, life-support machines, and drugs in different regions of the globe. 

Besides this, the pandemic had a positive impact on the market as the race for developing rapid diagnostics for the SARS-CoV-2 virus led manufacturers to provide innovative breakthroughs. Some of these tests detect the SARS-CoV-2 nucleic material using the PCR technique or via nucleic acid hybridization-related methods or while others are serological and immunological assays that detect antibodies produced in response to the virus. For example, in December 2021, Siemens Healthineers received Emergency Use Authorization from the U.S. FDA for its COVID-19 rapid test, CLINITEST Rapid COVID-19 Antigen Self-Test that can be used for self-testing by individuals aged 14 and above. The pandemic-related new developments, government funding, product approvals, and continuous launches will drive the market.

The growth of gene and cell therapies and their rising demand is anticipated to boost market growth. With the growing demand for robust disease treatment therapies, companies have focused their efforts to accelerate their R&D for effective gene therapies that target the cause of disease at the genomic level. With a rise in the number of FDA-approved products, a healthy outlook for gene therapies is expected in the near future. In addition, advancements in recombinant DNA technology are expected to expand the number of ongoing clinical trials for gene therapy. For instance, in 2020, FDA expected more than 200 applications annually for cell and gene therapy clinical trials by 2029.

The increased understanding of drug interaction with the genetic makeup of patients has led to improvements in targeted therapies. The life science industry is now capitalizing on novel innovations such as predictive analytics to enhance the manufacturing of biological therapeutics to meet the growing demand. This combined with low-cost and robust genetic profiling will improve treatment outcomes and help reduce the drug development cost. The rise in demand for biologics is expected to propel market growth as most biologics are manufactured with the help of recombinant DNA technology.

Furthermore, monoclonal antibodies are rapidly evolving in the field of cancer therapy. For instance, according to an article published in January 2021, by mAbxience, 27 monoclonal antibodies have been approved for treating different types of cancer. Moreover, FDA approvals of monoclonal antibodies in diagnostics and cancer therapy are increasing the applications of biologics. For instance, in January 2022, FDA approved Tebentafusp-tebn monoclonal antibody that aids in the treatment of metastatic uveal melanoma. Government support coupled with rising demand for novel therapeutics will boost the growth of the market.

Technology Insights

In 2022, cell biology technology accounted for the largest share of over 34.2%. The relevance of cell biology technology in drug discovery and the increase in NIH funding for cell biology are contributing to segment growth. Additionally, innovations in flow cytometry and liquid handling have led to an upsurge in the applications of cell-based assays for drug discovery. Furthermore, key market players have undertaken collaborative research efforts to reprogram newborn stem cells from umbilical cord tissue and blood into Induced Pluripotent Stem Cells (iPSCs). For example, in January 2022, EdiGene and Haihe Laboratory announced a strategic collaboration to develop platform technologies and stem cell regenerative therapies. The collaboration aims to explore novel biomarkers to optimize quality control for stem cell production. These collaborations are expected to drive the market over the forecast period.

The genomics technology segment is expected to grow at a significant rate over the forecast period. Genomics involves evolutionary, comparative, and functional studies of genomes. The product scope to carry out genomic analysis has expanded very rapidly with the introduction of different technologies that support genomic studies. Thermo Fisher Scientific, QIAGEN, Illumina, and Pacific Biosciences of California, Inc. are the major innovators of instruments required for various genomic applications.

Growing recognition of genomics’ potential in human disease management and other nonconventional applications has fueled the implementation of genomic data. This, in turn, has increased competition among the firms to introduce products and technologies by leveraging on available genetic information, and, thereby, capitalizing on the ample avenues present in the market.

Product Insights

In 2022, cell culture systems and 3D cell culture segment held the largest share of over 21.2%. Research activities exploring the potential of cell biology have led to important advancements, thus contributing to revenue generation. An in-depth understanding of cell biology has become a key asset across laboratory workflows, opening new avenues of expansion in the market. Moreover, scientists in the life science field are eager to adopt new and advanced instruments, which is expected to further bolster the segment. This industry trend has also encouraged several key manufacturers to expand their instrument portfolios. For instance, Cytiva, BioTek Instruments, Horizon Discovery, and Seahorse Bioscience, among others, are aiming on introducing instruments relating to cell analysis, cell biology, and imaging.

Next-generation sequencing is anticipated to exhibit the fastest growth rate of 21.2% from 2023 to 2030. Next-generation sequencing (NGS) systems allow massively parallel sequencing of genome samples. The systems are efficient in analyzing a large number of sequencing reactions simultaneously. In addition, simplification of NGS workflow and continued cost reductions in instruments and reagents are likely to boost the adoption of this life science technology. Moreover, with enhancement in bioinformatics, adoption of NGS is likely to grow in high- and even low-throughput research. For example, in February 2022, Beckman Coulter Life Sciences signed an application development agreement with Illumina, Inc. for the Biomek NGeniuS Next Generation Library Preparation System.

End-use Insights

The healthcare segment captured the largest share of over 32.1% in 2022. Rise in adoption of proteomic and genomic workflows in hospitals to diagnose and treat various diseases is expected to fuel the growth. In addition, growing adoption of tissue diagnostic and NGS services in hospitals is expected to drive the market. Several hospitals and clinics are currently providing sequencing facilities to patients and are determining the use of advanced tools and technology in daily practice of medicine. Stanford Medicine is one such hospital that provides sequencing services to people who have a rare or undiagnosed genetic condition. Partners HealthCare in the U.S. is one of the first hospital systems to offer public genomic sequencing, analysis, and interpretation services. Genomic sequencing in a hospital or clinical setting is expected to improve patient care while lowering healthcare costs. Due to this, the healthcare segment is expected to witness the fastest growth in the years to come. 

Biopharmaceutical companies are initiating large-sale genome sequencing projects in collaboration with community health systems and academic medical centers in the life science tools space. Grail, Inc., an emerging firm, is conducting studies to detect genomic fingerprints from tumors that can be detected in a blood sample, with an aim to identify cancer at an early stage. The growing interest of biopharmaceutical companies in genomics also results in significant revenue generation and thus is expected to drive the market.

Regional Insights

North America accounted for a dominant revenue share of over 38.7% in 2022 due to fast adoption of genomics, proteomics, oncology, and diagnostic screening in the region. The rise in the adoption of genomic medicine, biopharmaceuticals, diagnostic procedures, and novel technologies in the U.S. and Canada for diagnosis and treatment of clinical disorders is responsible for the market growth in the region. The region also leverages the presence of a large number of market players that are continuously engaged in the development of advanced tools for life science research. Furthermore, the presence of a well-regulated environment for approvals and usage of genomic and tissue diagnostic tests is expected to propel the growth of the market over the forecast period. Recently, in August 2021, COVID-19 Severity Test Screening using Agilent Cary 630 FTIR Spectrometer was launched by Agilent Technologies, Inc.

The Asia Pacific region will grow at the highest rate during the projected period. Investments and efforts by global companies in this region to utilize the untapped avenues and increase their presence will fuel the growth. For instance, in January 2022, FUJIFILM Corporation announced the acquisition of Atara Biotherapeutics T-Cell Operations and Manufacturing (ATOM) facility for USD 100 million to produce commercial and clinical treatments, including CAR-T and T-cell immunotherapies. Moreover, this region offers relatively inexpensive manufacturing and operating unit for conducting research. These factors are expected to play a major role in the expansion of life science tools and technologies in this region.

Key Companies & Market Share Insights

The market is highly competitive due to the presence of multiple players with similar product offerings. These players are continuously expanding product portfolios and launching new platforms with intensive R&D to sustain market position. Furthermore, strategic initiatives by major firms including collaborations, mergers and acquisitions, and new product launches are fueling the market growth along with intensifying the competition. For instance, in February 2022, Agilent Technologies, Inc. partnered with Biosciences, Inc. to integrate the AVITI System with SureSelect target enrichment panels for enhanced customer access to genomic tools. The initiative was expected to create new growth opportunities for the company. Some prominent players in the global life science tools market include:

• Agilent Technologies, Inc.

• Becton, Dickinson and Company

• F. Hoffmann-La Roche Ltd.

• Bio-Rad Laboratories, Inc.

• Danaher Corporation

• Illumina, Inc.

• Thermo Fisher Scientific, Inc.

• QIAGEN N.V.

• Merck KGaA

• Shimadzu Corporation

• Hitachi, Ltd.

• Bruker Corporation

• Oxford Instruments plc

• Zeiss International

Life Science Tools Market Report Scope

Global Life Science Tools Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the global life science tools market report on the basis of technology, product, end-use, and region:

• Technology Outlook (Revenue, USD Billion, 2018 - 2030)

  • Genomic Technology

  • Proteomics Technology

  • Cell Biology Technology

  • Other Analytical & Sample Preparation Technology

  • Lab Supplies & Technologies

• Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Cell Culture Systems & 3D Cell Culture

    • Instruments

    • Consumables

    • Cell & Tissue Culture Services

  • Liquid Chromatography

    • Instruments

    • Consumables

    • Services

  • Mass Spectrometry

    • Instruments

    • Consumables

    • Services

  • Flow Cytometry

    • Instruments

    • Consumables

    • Services

  • Cloning & Genome Engineering

    • Kits, Reagents, and Consumables

    • Services

  • Microscopy & Electron Microscopy

    • Instruments

    • Consumables

    • Services

  • Next Generation Sequencing

    • Instruments

    • Consumables

    • Services

  • PCR & qPCR

    • Instruments

    • Consumables

    • Services

  • Nucleic Acid Preparation

    • Instruments

    • Consumables

    • Services

  • Nucleic Acid Microarray

    • Instruments

    • Consumables

    • Services

  • Sanger Sequencing

    • Instruments

    • Consumables

    • Services

  • Transfection Devices & Gene Delivery Technologies

    • Equipment

    • Reagents

  • NMR

    • Instruments

    • Consumables

    • Services

  • Other Separation Technologies

    • Instruments

    • Consumables

    • Services

  • Other Products & Services

    • Antibodies

    • General Supplies

    • Others

      • Instruments

      • Consumables

      • Services

• End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • Government & Academic

  • Biopharmaceutical Company

  • Healthcare

  • Industrial Applications

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

    • Switzerland

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

    • Singapore

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait