Life science reagents is a market that’s pushing ahead for a complete transformation. That’s because many small-sized and medium-sized organizations are introducing new life science reagents. Life science reagents are products that are used in the pharmaceutical and bioscience industries. Data pulled from a report presented by Transparency Market Research (TMR) states that the global life science reagents market will have a valuation of US$25.73 bn by 2019. The availability of diverse products is expected to propel the global life science reagents market in the near future.
Companies in this space typically boast a wide-ranging product portfolio. For example, Tocris, one of the leading suppliers of novel tools for laboratory research, offers a unique collection of more than 4000 life science reagents including GPCR ligands, ion channel modulators, neurotransmitters, and signaling inhibitors.
The launch of new products is the only sure way to counter the competition, as companies are increasingly demonstrating. A case in point is eBioscience, a world leader in oncology flow cytometry reagents. The company is introducing its new range of life science reagents for research and diagnostics. Apart from multicolor flow cytometry reagents, eBioscience also offers validated general-purpose lab reagents and recombinant proteins for a thorough biological system analysis.
In this blog post, TMR answers three important questions about the global life science reagents market:
Q. What factors should one consider while buying life science reagents?
A. Reliability, accuracy, price, consistency, and ease of use are five of the features considered by consumers while buying life science reagents. And when there are companies offering life science reagents with all these factors, buyers get what they are looking for. Key products within the global life science reagents market are: Polymerase chain reaction, tissue culture, in-vitro diagnostics, electrophoresis, chromatography, flow cytometry, mass spectroscopy, and transfection reagents.
Amongst all available life science reagents, chromatography reagents are the ones that are used most extensively. At present, they hold the largest share in the global life science reagents market. The extensive use of chromatography reagents in product advancement and biotechnology research procedures has propelled this segment.
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Q. Which factors would drive the growth of the global life science reagents market in the near future?
A. Certainly, the use of life science reagents is on the rise globally due to advancements in technology. Life science reagents include reagents used in pharmaceuticals, biotechnology, and bioscience. Since the past decade, the global life science reagents market has registered swift growth due to the rising application of biotechnology and bioscience in the healthcare sector. The increasing occurrence of various diseases, rising aging population, growth in research and development activities, and the rising mortality rate are some of the factors expected to benefit the global life science reagents market in the near future.
Q. What are the possible challenges that the global life science reagents market would face in future?
A. While the global life science reagents market is set for rapid expansion in the years to come, there is no denying the fact that it has to face certain challenges. Factors such as a lack of skilled labor and high capital investment are expected to be the biggest challenges for the global life science reagents market. Furthermore, the large patent repositories and fewer market players are expected to hamper the growth of the global market for life science reagents.
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