The Life Science Tools Market was valued at $60.1 Billion in 2020. Growing at a high CAGR of more than 6.5% between 2021 and 2031, it is estimated to reach $120.9 Billion by 2031. However, the current pandemic of COVID-19 might make a slight difference in the present year's growth rate. The NHGRI or The National Human Genome Research Institute and NIH or the National Institutes of Health, organizations are actively funding various life science projects. The rising demand for biopharmaceuticals, government funding for life science technology projects, and increasing competition among the prominent market entities are the prime factor driving the market growth during the forecast period. Apart from that, the rapid pace of innovation in gene sequencing, liquid chromatography, major categories of mass spectrometry, and the multiplex platform supports market growth. Now, moving forward, the huge demand for the Life Science Tools Market in the active adult community department is further estimated to create new necessities for the market of growth over the forecast period of 2021-2031.
The Life Science Tools Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Cattle Feed market is segmented as technology outlook, product outlook, and end-use outlook. Based on technology outlook, the Life Science Tools Market has been bifurcated as Genomic Technology, Proteomics Technology, Cell Biology Technology, Other Analytical & Sample Preparation Technology, and Lab Supplies & Technologies. Based on product outlook, the Life Science Tools Market divided into Next-Generation Sequencing, PCR & qPCR, Flow Cytometry, Nuclear Magnetic Resonance Spectroscopy (NMR), Microscopy & Electron Microscopy, Liquid Chromatography (LC), Mass Spectrometry (MS), Nucleic Acid Preparation (NAP), Transfection Electroporation, Cell Biology, Cloning, Other Products & Services, Antibodies, General Supplies, Nucleic Acid Microarray, Instrument, Consumables, Services, Instrument, and Consumables. Based on the end-use outlook, the North American life science tools market has been bifurcated as Government & Academic, Biopharmaceutical Company, Healthcare, Industrial Application, and Others.
North America holds the largest market share by Region
The Life Science Tools Market has been moreover segmented by country wise, including the U.S., Canada, and Mexico. The increasing demand for North America Life Science Tools for the future prospect is driving the Life Science Tools Market growth. Increasing R&D in biotechnology due to rising funding by the Canadian government, which anticipated the market growth over the region. Apart from that, the rising demand for gene sequencing is the primary factor for market growth over the forecast period of 2021-2031.
Major Players in the Life Science Tools Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Illumina, Inc., Agilent Technologies, Becton, Dickinson, and Company (BD), Bio-Rad Laboratories, Inc., Danaher Corporation, General Electric Company, Merck KGaA, QIAGEN, Corning, Inc., Perkin Elmer, Inc., Miltenyi Biotec, Bruker, and Hitachi Koki Co., Ltd. among others.
The Life Science Tools Market Has Been Segmented into:
Life Science Tools Market: By Technology Outlook
Life Science Tools Market: By Product Outlook
Life Science Tools Market: By End-Use Outlook
Life Science Tools Market: By Region