Global Life Science Products Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Life Science Products Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Life Science Products market finds that the global Life Science Products market reached a value of USD 221694.92 million in 2022. It’s expected that the market will achieve USD 362689.27 million by 2028, exhibiting a CAGR of 8.55% during the forecast period.

SWOT Analysis

Strength

Life science products are used for various researches and diagnosis of diseases which help to treat the disease at an early stage efficiently. They play a vital role in the manufacturing of drugs which are helpful in treating various conditions. Apart from these, life science products are also used in the production and storage of food and beverages. The driving factor for the market growth is the growing technological advancement and increasing use of life science products in various industries. The increasing funding by the government of different countries in R&D department of biotech companies is expected to foster the market growth. Several initiatives by various governments in this region are spurring life science research, including investments by biopharmaceutical companies that are establishing manufacturing plants for producing therapeutic products. Furthermore, these developments have naturally sustained investor enthusiasm for companies across the board in the life sciences industry. Equity investments, mergers and acquisitions, and IPOs have all been generally trending upward for the last decade. Meanwhile, the emergence of advanced technologies in the life sciences industry, the rise in demand for personalized medicines, and the increasing impact of the internet and social media on life sciences companies are some of the key factors driving the market during the forecast period.

Weakness

Challenges to growth include payer scrutiny, sales losses due to genericization, and competition from biosimilars. As generic drugs increase in popularity, companies with more expensive drugs may be impacted. In 2019, it is estimated that US$19B in prescription sales may be at risk due to patent expiries, with approximately half resulting in lost sales.
The development of life sciences market and life science products industry is not balanced. Some regions have formed a complete industrial chain with a large market share, while some regions do not have mature and perfect operating chains or complete operating ecological chains, which is not conducive to the development of the industry. Some countries have backward economy and low level of science and technology, the standard of living is not high, either, making it difficult for the life sciences market and life science products industry to develop.

Region Overview:

From 2022-2027, Europe is estimated to witness robust growth prospects.

Company Overview

Merck KGaA, Boehringer Ingelheim, Thermo Fisher Scientific, Lonza Group and Covance are the five key players in the global Life Science Products market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Life Science Products market in the past 5 years.

Segmentation Overview:

Among different product types, Life Sciences Products segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Academy segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Life Science Products market covered in Chapter 3:

Lonza Group
Bio-Rad Laboratories
PerkinElmer
Merck KGaA
Takeda Pharmaceutical Company Ltd
Covance
ICON
Pharmaceutical Product Development
Celltrion
Thermo Fisher Scientific
Boehringer Ingelheim

In Chapter 4 and Chapter 14.2, on the basis of types, the Life Science Products market from 2018 to 2029 is primarily split into:

Life Sciences Products
Life Sciences Tools & Services

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Life Science Products market from 2018 to 2029 covers:

Medical & Health Care
Academy
Agriculture
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)