Increase in usage of novel technologies and investments in life science research are fueling revenue growth of the global life science products market
As per Persistence Market Research, the global life science products market was estimated to be valued at more than US$ 2,500 Mn in 2015 and is projected to grow to approximately US$ 4,200 Mn by 2024 end. This represents a CAGR of 4.3% over the forecast period. The global market for life science products represents absolute $ opportunity of nearly US$ 120 Mn in 2017 over 2016 and incremental opportunity of approximately US$ 1,500 Mn between 2016 and 2024. The global value of the life science products market is expected to grow 1.4x by 2024 end as compared to that in 2016, primarily due to investments in R&D in the life sciences domain and demand for high quality products and tools for research.
Latin America Life Science Products Market Analysis, 2016–2024
Latin America Life Science Products Market Attractiveness Analysis, 2016–2024
The future of the global life science products market lies in focusing on the fast growing Asia Pacific region
According to Persistence Market Research analysts,
There has been a shift in investments in R&D and technology, especially in the life sciences domain, from North America and Europe to Asia Pacific. Developing economies such as India have ample skilled labor and qualified manpower at affordable costs thereby increasing the scope for attracting outsourcing of biotech projects. Additionally, several governments in the Asia Pacific region have started taking initiatives to support growth of the domestic biotechnology industry by offering tax exemptions on R&D initiatives; increasing budgets and funding, creating public and private conglomerates; and attracting foreign direct investments. Over the past few years, Taiwan’s drug regulatory agency has built a relationship with China, establishing protocols for reciprocal acceptance of clinical trials, leading to several companies investing in programs in these regions. The fifth Science and Technology Basic Plan was adopted in Japan at the end of 2015 and the ‘Grants-in-Aid for Scientific Research’ government funding remained flat for the fiscal year starting April 2016.
Persistence Market Research (PMR) analyzes the global life science products market in a new publication titled “Life Science Products Market: Global Industry Analysis and Forecast, 2016–2024”. The main objective of the report is to identify dynamics in the market and provide recent updates and insights affecting various segments of the global life science products market. To provide a better understanding of the market, the report also includes an analysis of drivers, restraints, and trends in all five regions namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa, which influence the current market scenario and future status of the global life science products market over the forecast period.
The global life science products market is segmented as follows:
Life Science Products Market, by Product Type
Life Science Products Market, by Application
Life Science Products Market, by End User
Life Science Products Market, by Region
This report covers the global life science products market performance by revenue contribution from various segments. The report begins with an overview of the global life science products market and key market definitions. This section also underlines factors influencing the development of the global life science products market along with a detailing of the key trends, drivers, restraints, and opportunities for key players. Impact analysis of key regional growth drivers and restraints based on the weighted average model along with region-specific trends is included in this report to better equip clients with information and hidden insights. At the end of the report, Persistence Market Research provides key strategic recommendations for both existing and new players operating in the global life science products market to emerge sustainably profitable.
The global life science products market is segmented based on product type, application, end user and region. A detailed analysis has been provided for every segment and sub-segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity, market attractive index and BPS analysis. The next section of the report highlights the growth trends of the global life science products market by region. It provides a market outlook for 2016–2024 and sets the forecast within the context of the global life science products ecosystem. The study analyzes the extent to which drivers are influencing this market in each region. The above sections – by product type, by application, by end user and by region – evaluate the present scenario and growth prospects of the global life science products market for the period 2016 – 2024. We have considered 2015 as the base year and provided data for the coming eight years. The last section of the report includes detailed company profiles with company-specific long-term and short-term strategies, key offerings and recent developments in the global life science products market.
For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and a comprehensive forecast made for 2017–2024. To calculate the market size, the report considers indicators such as R&D expenditure and research funding from the government and non-profit organizations to arrive at the indicated market numbers. In order to provide an accurate forecast, the report starts by sizing up the current market, which forms the basis of how the global life science products market is expected to develop in the future. Critical market data including the base number and segmental splits has been devised through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global life science products market.
The report also analyzes the different segments of the global life science products market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global life science products market. The report also analyzes the global life science products market based on absolute dollar opportunity, which is essential to identify potential resources in the global life science products market. Persistence Market Research has also developed a unique market attractiveness index to understand the key market segments in terms of their performance and growth in the global life science products market. This market attractiveness index would help clients identify real market opportunities in the global life science products market.