The life science tools market size is estimated to be USD 129,247.1 million in 2022 and is expected to witness a CAGR of 7.11% during the forecast period 2023-2033. Rising need for diagnostic tests for numerous infectious diseases and increasing prevalence of diseases including cancer, renal & thyroid disorders, and diabetes are factors contributing to the market growth. Furthermore, technological developments and rapid growth of monoclonal antibodies in the field of cancer therapy is predicted to support the market growth. However, expensive technologies that require substantial R&D and infrastructure investments is expected to hinder the growth.

Technological developments are expected to propel the market growth during the projected period. Mass spectrometry, chromatography techniques, sequencing technologies, and other items have all seen a rise in their use in diagnostic labs, hospitals, and other settings due to technological developments. For instance, liquid chromatography coupled to mass spectrometry (LC-MS) is a potent tool for characterising antibody-drug conjugates, according to a research study titled “Rapid Analysis of Reduced Antibody Drug Conjugate by Online LC-MS/MS with Fourier Transform Ion Cyclotron Resonance Mass Spectrometry” published in October 2020.

Rapid growth of monoclonal antibodies in the field of cancer therapy is projected to fuel the market growth during the forecast period. For instance, 27 monoclonal antibodies have received approval to treat various cancers, according to a report by mAbxience and released in January 2021. Additionally, the FDA’s approval of monoclonal antibodies for use in cancer therapy and diagnostics is expanding the uses of biologics. For instance, the FDA authorised Tebentafusp-tebn, a monoclonal antibody that helps treat metastatic uveal melanoma, in January 2022.

Segmentation

By Product

The market is categorized into Liquid chromatography, flow cytometry, cell culture systems & 3D cell culture, next generation sequencing, nucleic acid preparation, sanger sequencing, nucleic acid microarray, PCR & QPCR, cloning & genome engineering, mass spectrometry, microscopy & electron microscopy, transfection devices & gene delivery technologies, NMR, others. In 2022, the cell culture systems & 3D cell culture segment accounted for the highest revenue share due to the fact that cell biology-related research projects have made significant advancements and helped generate revenue. A thorough knowledge of cell biology has emerged as an essential tool for laboratory workflows, creating new opportunities for market growth. Additionally, professionals in the field of life sciences are eager to adopt new and advanced instruments, which is predicted to further support the sector. For instance, a number of companies, including Cytiva, BioTek Tools, Horizon Discovery, and Seahorse Bioscience, are planning to introduce instruments for cell analysis, cell biology, and imaging.

By Technology

The market is categorized into proteomics technology, cell biology technology, lab supplies & technologies, genomic technology, and other analytical & sample preparation technology. In the global market, the cell biology technology segment accounted for the largest revenue share in 2022 owing to increasing NIH funding for cell biology and the application of cell biology technology in drug discovery. Additionally, major market participants have conducted research collaborations projects to convert newborn stem cells from umbilical cord tissue and blood into induced pluripotent stem cells (iPSCs). For instance, EdiGene and Haihe Laboratory formed a strategic partnership in January 2022 to develop platform technologies and stem cell regenerative treatments. The proteomics technology segment is anticipated to increase significantly over the course of the projection period. Proteomics enables an extensive study of many protein types and offers a complete understanding of the structural and functional information of cells.

By End User

The market is segmented into healthcare, government & academic, industrial applications, biopharmaceutical company, and others. In 2022, the healthcare segment accounted for the largest revenue share owing to rise in the usage of proteomic and genomic processes in hospitals for the diagnosis and treatment of various diseases. In addition, the market is anticipated to be driven by hospitals’ increasing use of tissue diagnostic and NGS services. One such hospital that offers sequencing services to those with a rare or unidentified genetic disorder is Stanford Medicine. One of the first hospital systems in the United States to offer public services for genomic sequencing, analysis, and interpretation is Partners HealthCare. It is anticipated that genomic sequencing in a hospital or clinical setting will enhance patient care while bringing down medical expenses. As a result, the healthcare sector is anticipated to grow at the fastest rate moving forward. The market is anticipated to be driven by the increasing interest of biopharmaceutical companies in genomics, which also generates substantial revenue.

Regional Markets

In 2022, North America region accounted for the highest revenue in the life science tools market and is expected to maintain its dominance during the forecast period. This is attributed to the rapid penetration of genomics, proteomics, oncology, and diagnostic screening in the region. The expansion of the market in the region is attributable to the increase in the use of genomic medicine, biopharmaceuticals, diagnostic techniques, and novel technologies in the United States and Canada for the diagnosis and treatment of clinical disorders. The region also benefits from the existence of a large number of market participants who are consistently working to develop cutting-edge equipment for life science research. Additionally, the market is anticipated to increase over the course of the forecast period due to the availability of a well-regulated environment for the approval and use of genomic and tissue diagnostic tests. The Asia-Pacific area will exhibit the fastest growth during the forecast period. Growth will be fueled by investments and efforts made by international businesses in this region to take advantage of unexplored opportunities and strengthen their presence. For instance, in January 2022, FUJIFILM Corporation announced the purchase of the ATARA Biotherapeutics T-Cell Operations and Manufacturing (ATOM) facility for USD 100 million in order to manufacture commercial and clinical treatments, such as CAR-T and T-cell immunotherapies.

Competitor Insights

Some of the key players operating in the life science tools market are Illumina, Inc., QIAGEN N.V., Bruker Corporation, Hitachi Ltd., Danaher Corporation, Oxford Instruments plc, Becton, Dickinson and Company, Merck KGaA, Bio-Rad Laboratories, Inc., Shimadzu Corporation, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc, Agilent Technologies, Inc., and Zeiss International.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Agilent Technologies, Inc. and Biosciences, Inc. collaborated in February 2022 to integrate the AVITI System with SureSelect target enrichment panels for improved customer access to genomic tools. It was anticipated that the project would give the business new opportunities for expansion.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, technology, and end user from 2023 to 2033.

Report Scope:

Segmentation: Life Science Tools Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Liquid Chromatography
• Flow Cytometry
• Cell Culture Systems & 3D Cell Culture
• Next Generation Sequencing
• Nucleic Acid Preparation
• Sanger Sequencing
• Nucleic Acid Microarray
• PCR & qPCR
• Cloning & Genome Engineering
• Mass Spectrometry
• Microscopy & Electron Microscopy
• Transfection Devices & Gene Delivery Technologies
• NMR
• Others

Technology (Revenue, USD Million), 2022 – 2033

• Proteomics Technology
• Cell Biology Technology
• Lab Supplies & Technologies
• Genomic Technology
• Other Analytical & Sample Preparation Technology

End user (Revenue, USD Million), 2022 – 2033

• Healthcare
• Government & Academic
• Industrial Applications
• Biopharmaceutical Company
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA